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"* Notes to readers
£713 million - uSwitch calculates that the average amount of bank charges levied over a six year period is a total of £742 per person (68% of people who had been charged were charged between £1 and £500, and 6% were charged more than £2,500). uSwitch.com estimates that the total value of ongoing claims or claims that are on hold equals £713 million (960,870 x £742).
1 million cases - Online Research for uSwitch.com carried out by YouGov (August 2007) shows that 20% of respondents refund claims were still ongoing. 960,870 bank charge claims are currently on hold or are ongoing. This includes 633,241 on hold or ongoing with banks, 166,289 with the Financial Ombudsman Service and 161,250 claims involving legal action.
£20.5 million - uSwitch.com estimates that the banks will earn £20.5 million in interest on the £713 million of claims ongoing or on hold at a rate of 5.75 per cent (the Bank of England Base Rate) over the next six months."
£713 million - uSwitch calculates that the average amount of bank charges levied over a six year period is a total of £742 per person (68% of people who had been charged were charged between £1 and £500, and 6% were charged more than £2,500). uSwitch.com estimates that the total value of ongoing claims or claims that are on hold equals £713 million (960,870 x £742).
1 million cases - Online Research for uSwitch.com carried out by YouGov (August 2007) shows that 20% of respondents refund claims were still ongoing. 960,870 bank charge claims are currently on hold or are ongoing. This includes 633,241 on hold or ongoing with banks, 166,289 with the Financial Ombudsman Service and 161,250 claims involving legal action.
£20.5 million - uSwitch.com estimates that the banks will earn £20.5 million in interest on the £713 million of claims ongoing or on hold at a rate of 5.75 per cent (the Bank of England Base Rate) over the next six months."
