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U.K. banks want to end free ATM use, if fees for overdrafts get the ax
November 23, 2009
The Chester (England) Chronicle reports that banks in the United Kingdom are likely to reinstate fees for cash withdraws at ATMs, if they lose a legal battle over overdraft fees.And the move, if banks do make it, is expected to spark fury among consumers.
Complaints about overdraft fees incurred by customers at Abbey, Barclays, Clydesdale, HBOS, HSBC, Lloyds Banking Group, Nationwide Building Society and Royal Bank of Scotland have been filed since July 2007, awaiting this week's Supreme Court decision.
Before the 2007 freeze, banks, shelled out an estimated £784 million (U.S. $1.3 billion) to nearly 378,000 customers to stop complaints from hitting the courts.
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