Overdraft Charges:

It appears that the Press won't let go of the “overdraft issue” as the following range of clippings suggest, but again why complain. The prolific nature of such features is only further fuelling the consumer backlash against such institutions…. But is there hope that such charges will be justified or better still, abolished?
 
In an era where online blogs, websites and discussion forums report tales of default charges, student poverty and unsympathetic rules to which call centre staff abide there is a range of bureaucratic paraphernalia which should be fully exploited in battle to protect your money.

Of course it would not be very British to complain or indeed lose ones cool when addressing your concerns as to charges made to your account as a result of exceeding your agreed overdraft limit or indeed a direct debit that was returned unpaid, but how can a charge on your account further assist you in getting back into the black?

Such charges have been heavily criticised by the Office of Fair Trading and consumer groups, but little action has been taken since the OFT initial report in September 2006 (Times Online), leaving consumers, particularly student, extremely vulnerable. This subject is especially pertinent when considering the average student budget and reflective debt, encouraging students to partake in part time paid work.

The following Press Clippings are provided for your research purposes, including The Independent, The Metro and The Guardian.


If you are having trouble reading any of the articles, simply click on the article itself where you will be directed to an enlarged copy. When you have finished, remember to click back on your browser.


This follows another feature in the commuter newspaper Metro, featuring Adam Shaw and this battle with overdraft charges..

Source: Independent, Sunday 10th September
Source: Metro, Tuesday 12th September 2006
Source: The Guardian, Tuesday 12th September 2006

Have you been charged? Got a story? why not post on our message forum.

Simon
ClearStudentDebt.co.uk