Bank Charge


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Bank Charge

Any fee that a bank assesses on an account. An example of a bank charge is a monthly or annual fee for the privilege of maintaining an account. Other bank charges include overdraft fees (which are placed on a checking account when a holder withdraws more money than he/she has) and inactivity fees (which occur when a holder does not conduct a transaction for a certain period of time). Bank charges form a significant portion of banks' revenue.
References in periodicals archive ?
The death knell may finally be sounding over bank charges for breaching your overdraft limit.
It directed the power utility to estimate the collection under the head of bank charges and return the amount back to the consumers.
The small claims service provided by the UK government's Money Claim Online (MCOL) is reportedly experiencing very high traffic due to the volume of claims for bank charges from bank account holders in the UK.
Bank charges are a hot topic and the Office of Fair Trading won the right to investigate them.
There was a near ten-fold increase in bank charge complaints in April to July last year alone - at nearly 32,000 - amid the Office of Fair Trading's High Court test case.
We sent three messages to UPI (UK) Limited, which claims to help reclaim unfair bank charges, and received no reply at all.
All you need to know about bank charges, over-charging and the errors that they make which cost you cash can be found on this site.
One of the highest charges shouldered by customers are for debit card transactions abroad, which are often far above official exchange rates and is actually in violation of the guide to bank charges monitored by the Central Bank of Nigeria (CBN).
Global Banking News-June 15, 2016--Reserve Bank of Zimbabwe cuts bank charges
A bill regulating unfair bank charges, which is aimed at protecting borrowers, and a bill on the solvency of insurance companies are to be tabled at the House plenum on Thursday, it was announced on Tuesday.
The apex bank has looked into over 6,000 complaints concerning about the unauthorised bank charges brought to its notice by customers.