Newspaper article The Evening Standard (London, England)

Abbey Tops the League of Bank Charge Rip-Offs

Newspaper article The Evening Standard (London, England)

Abbey Tops the League of Bank Charge Rip-Offs

Article excerpt

Byline: JONATHAN PRYNN

BANK customers have been charged an average [pounds sterling]742 in "illegal" penaltiesover the past six years, it was claimed today.

The fees cover "breaches" such as unauthorised overdrafts, bounced cheques andunpaid direct debits.

The finding comes as banks' legal teams prepare for a High Court showdown inJanuary to decide whether they have a right to deduct the charges.

The most aggressive of the largest banks is Abbey, where average charges havebeen [pounds sterling]1,376 over six years. Next is Lloyds TSB, where an average customer willhave paid [pounds sterling]800.

YouGov quizzed more than 4,000 customers for comparison website uSwitch.com.

It found that overall, about four in 10 of the banks' 45 million customers hadbeen hit with penalties, some as high as [pounds sterling]39 a day, since 2001. About oneperson in 20 had been charged at least [pounds sterling]2,500 - more than [pounds sterling]1 per day they heldtheir account. …

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