2007-03-01 21:49:17 · 11 answers · asked by kish 2 in Business & Finance ➔ Personal Finance
My bank charges $20 (I think. I've never actually bounced a check) but I think they can charge whatever they want. I'm not aware of any rule or law that says they can't.
2007-03-01 21:55:30 · answer #1 · answered by Faye H 6 · 0⤊ 0⤋
A study found it was about £3 - £5 (approx $ 6)
The law says they are not allowed to make a profit on bounced direct debits or for being over drawn so the £35 - £40 they charge now is illegal.
You can take your bank to small claims court and reclaim your money, I think that the success rate for this is over 95%.
But be aware if you do, your bank will close your account if you win your case.
2007-03-02 05:55:15 · answer #2 · answered by chris s 2 · 0⤊ 0⤋
Bank charges are supposed to reflect the cost incurred and are not allowed to be punitive. In a documentary on tv the other day an expert worked out that the cost to a bank for 'bouncing' a direct debit is £4.50. And he was being generous. £30 is way over the top, hence people claiming them back. (UK)
2007-03-02 05:55:47 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Depends on which bank - I've been charged £38 at the Natwest before for a direct debit not going through.
2007-03-02 05:55:06 · answer #4 · answered by Smarty 6 · 0⤊ 0⤋
around £5. The simple way to avoid cost is to not spend what you don't have. Also ask the bank about setting up an authorised overdraft. Most will give you something even if its just a £100 to see you through the last few days of the month.
2007-03-02 07:11:40 · answer #5 · answered by Anonymous · 0⤊ 0⤋
i'm with Lloyds TSB and they charge £34 per O/D....by all right it's there cash and you should make sure there is enough cash in your account either that cancel direct debits from your account until you have sufficient funds
2007-03-02 06:36:00 · answer #6 · answered by Anonymous · 0⤊ 0⤋
£30 is way too much, £5 is more appropriate and they will still make a profit. Thieving barstewards
2007-03-02 05:55:02 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Its been suggested by the oft that it should be a maximum of £12.
2007-03-02 05:57:26 · answer #8 · answered by janetlouise24 4 · 1⤊ 0⤋
Not 30quid id say a fiver robbing bleeders.
2007-03-02 05:52:47 · answer #9 · answered by Anonymous · 1⤊ 0⤋
around £1 for a letter and stamp. ba5tard5
2007-03-02 05:57:44 · answer #10 · answered by haha 1 · 0⤊ 0⤋