Outlaw Bank Charges

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Outlaw Bank Charges

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Bank Charges need to be outlawed. They are generally incurred by the poorest and most vulnerable in society. A £12 charge for every day that somebody is overdrawn, usually by only a few pence, is a huge percentage of somebody's income if they are on minimum wage or on benefits. This results is that you have people who are living on the poverty line, who then live BELOW the poverty line because their bank has taken a large percentage of their income. If someone is on benefits, it is the taxpayer that is paying the charges to the bank, which for the bank is pure profit. This means less money being spent in local shops and less paid in VAT on products & services which would have been bought with that money.

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