Reclaiming Bank Charges: UPDATE

You may remember a little case concerning the billion-pound rip off of customers by banks charging over the odds for:

• Going over your overdraft limit,
• Late payments etc.

Standard charges from Natwest for the above amount to over £30 each, which is total profiteering, as administration costs are only a couple of quid.

The latest news on this is that the Office of Fair Trading is deciding whether these charges are "unfair".

The situation at the moment is that all payments are on hold from banks to their customers, so there's going to be a very long wait if you haven't written to you bank yet to reclaim these unfair penalties.

Martin Lewis has the latest here.