Friday, May 25, 2007

Bank Fee Complaints Rocket

The Financial Ombudsman Service (FOS) has reported that there is something of a consumer rebellion, over current account fees, going on.

Last year banking complaints to the FOS rocketed by 47% to over 20,000. The FOS is now dealing with 1,000 complaints a week, from members of the public who are fed up with extra bank charges.

The FOS also receives around 3,000 enquiries a day about banking charges. Walter Merricks, the chief ombudsman, said:

"A year ago we were receiving just 10 cases a week about banking charges.

By the end of March 2007, this had risen to 500 a week, and we are now handling 1,000 of these cases weekly

It would seem that the banks have some image and relationship building to do!

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