Holding out on overdrafts costing customers
Bank and building societies in Northern Ireland are leaving customers exposed to hefty fees when they fail to honour overdraft limits, it has been claimed.
The financial insitutations have been blamed for leaving bills unpaid in an apparent stealth operation to claw back profits during the recession.
Customers are claiming that direct debits to various creditors were being returned unpaid despite large overdrafts being set up to cover all their bills
A Co Down customer said that when he asked his bank to account for the anomaly he was told they had held back some funds for household expenses, and when he discussed it with his financial advisor, he was told “this practice has started without any announcement months ago”.