The Office of Fair Trading (OFT) has revealed that UK banks consider making it easier for customers to withdraw access to unauthorized overdrafts.
By choosing to “opt-out
Customers blocked payments would not pay high fees for” uncovered a rel = “nofollow” onclick = “javascript: pageTracker. _trackPageview (‘/ outgoing / article_exit_link’); “href =” http://www. which4u. co. UK bank accounts / “title =” Bank Accounts> Accounts .

The Supreme Court rejected an appeal by the OFT last year that challenged the way banks fees they earn billions of pounds a year.

But the OFT and the government to change the pressure on banks fees are applied.

The OFT said it will appeal to the law be amended charges, if it is not an improvement in the way that treats customers are covered by banks over the next two years.

John Fingleton, head of the OFT, said: “We believe that the commitments made by the industry today agreed to cooperate with the changes already made by individual banks or expected in the next two years should be based on a market that works better result for consumers, “

” We continue to monitor banks and to reconsider the need measures, including legislation if they fail to achieve these changes. “

Have after recent negotiations, the banks agreed to its customers the possibility of overdrafts automatically if you have fallen into the red.

The FSA has refused to see the details of the proposals emerging banks that trade secret “violations.

But he said that banks would be a way for customers to avoid going into the red in the first instance by the state of their “watch a rel =” nofollow ” onclick = “javascript: pageTracker. _trackPageview (‘/ outgoing / article_exit_link’);” href = “http://www. which4u. co. UK bank accounts / / accounts” title = “Current accounts” in more detail> ; Current accounts .

At the beginning of this have, they decided, “better treatment” clients who are covered and in the fall to give a financial crisis.

The British Bankers’ Association said: “We look forward to working with our members and the OFT to further improve the provision of services to banks. “

Overdraft fees are currently one of the most important sources of income for high street banks, generating a massive £ 2. 6 billion in 2006 alone.
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In December, the banks have won their event after the Supreme Court ruled that the OFT has no legal powers to act on the challenge of banking overdraft fees.
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consumer groups have criticized the cons “unfair overdraft charges,” the last movement of the OFT.

Consumer Legal Beagles Campaign Group, said: “[We] are very surprised and very on the press release OFT on bank charges, the consumer has no concrete measures against the introduction of charging unfair and excessive “disappointed.

” The Office of Fair Trading report after nearly three years for research in the personal the UK market is extremely weak and does nothing to improve confidence in the regulator or the banks. ”

Marc Gander of the Consumer Action Group, said the OFT had “nothing to celebrate or welcome” and that “despite its power and influence The OFT has received very little. ”

“He was beaten on the problem of testing costs, because it helps in dealing with a very narrow interpretation of the law and despite a great signal Clearly the Supreme Court, there is another, realistic ways to challenge a will written on behalf of bank customers, it refused to do so, “he said.

The OFT said that peer pressure, more competition in the market has already requested a reduction in the average fee for those who go over their agreed limits caused overdraft fees.

According to the OFT, the cost of bouncing a check or other payments are £ 17 from 34 in 2007, but again more pounds.

The OFT said: “Over the next two years, the OFT monitors market developments, in particular the opportunities for customers who do not want to randomly access to overdraft facilities, the choice on pay structures, the amount of overdraft fees disorganized, and treatment of customers in financial difficulty. “