A growing body of evidence indicates that millions of UK bank customers may be entitled to refunds worth hundreds or even thousands of pounds due to unaffordable overdraft charges.
Recent research from consumer action group, Claims Bible highlights that as many as one in five current-account holders go overdrawn every day, with the average overdraft standing at nearly £700. Many of these customers have been paying interest rates that can reach almost 50% — often without banks properly assessing whether the borrowing was affordable.
Consumer-finance specialists warn that a significant number of customers have been trapped in persistent overdraft debt for months or years.
This often occurs when individuals fall into financial difficulty due to job loss, reduced income, unexpected bills, health issues, or major life changes. Despite clear signs of hardship — such as...