Unfair Bank Charges

Many people on low incomes are required to have Direct Debits on their accounts if they want certain services. There is no option to opt out. Banks are still levying excessive charges on customers who miss Direct Debit payments, £45 in the case of Santander for one DD collection missed (*3) as an example. 

Missing payments like this cannot be attributed to poor financial management by people, who in fact do brilliant job at surviving on next-to-nothing. People are being forced into agreements and payment arrangements they don’t want, for services they cannot do without.

Many organisations are offering reduced charges to people on benefits which include water companies and electricity and gas providers. We feel that two other areas need addressing, broadband charges and bank charges.

It is time the DWP Select Committee considered this matter. While other companies are ‘pulling on the oars’ and helping the disadvantaged, others in particular multi-national banks, still want to maximise their profits while sinking people into even further financial difficulties as well as threatening the health and well-being of those for whom a steady diet and a steady income is essential.  This is not right, and if banks will not adopt fair policies towards those on benefits then legislation needs to be brought in across the EU to protect the vulnerable. The ABC will be campaigning on this.

There are approximately 25 million people unemployed across Europe and their health and wellbeing is more important than huge and disproportionate banker bonuses for the few.