UK Money News
28th May 2008
Overdraft charges fuelled surge in customer complaints
The number of customer complaints received by UK banks soared last year, fuelled by a wave of rising ire about overdraft charges, new figures show.
In its latest figures, the Financial Ombudsman Service (FOS) has revealed that complaints about unauthorised charges rose ten-fold compared with 2006.
The FOS upheld the customers' grievances in 84 per cent of cases.
A spokesperson from the FOS said: "This figure is very high, and driven primarily by cases where the banks refunded all the money involved to customers when we contacted them and gave them the choice of doing this or being investigated."
News of the surge in complaints came as a High Court ruling allowed lenders to challenge a previous verdict which had cleared the way for an investigation into the charges.
As a result of the judge's decision to permit the banks to appeal, bank customers are now expected to have to wait up to two years before they will know if they can reclaim the charges.
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