Every once in a while this forum talks about the high fee for remittances from UK banks to Thailand and people are then usually advised to open an account at Nationwide bank and withdraw money in Thailand with the “Flexicard” (specific type of ATM card)

This article in the Guardian of today is about bank customers claiming refunds for other types of excessive bank fees – for unauthorized overdrafts and bounced cheques. Interesting development. It may be only a matter of time until the same happens about SWIFT transfer fees.

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Maestro

Banks are businesses, they have been milking customers for years.

The level of service from most banks is poor. My offshore bank is next to impossible to contact by telephone, over ten years ago when I opened the account, the service was superb.

The problem is, we need banks for salary, direct debits, cheque books, standing orders, etc.

The only way, the average joe will get satisfaction, is if you bank privately, and minimum balances for private accounts is 250,000 GBP upwards.

At least now, banks are being brought into line and these excessive penalties are exposed.