Why can I claim a refund?

WHY CAN I CLAIM A REFUND?

• Because they may constitute a "Penalty". To be a penalty, exception fees have to be out of all proportion to the actual cost incurred by the bank for the breach or default. An exception fee would be permissable if it is a genuine pre-estimate of the cost to the bank. If a bank charges $25-$60 for something which might have actually cost only a few dollars this is not a genuine pre-estimate.

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