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Look to U.K. for ATM bank fees

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Re: "Flaherty takes on big banks," Feb. 16:


Kudos to Jim Flaherty for taking on the greedy banks of Canada (regarding ATM fees.)


I’m new to Canada from the U.K., where thankfully there is a reasonably sound banking code. Unlike Canadian banks that openly announce you will be charged for every last cent you have.


Take a leaf from the U.K. book where consumers are successfully suing the banks after the Office of Fair Trading made a ruling in 2006 stating that current bank charges were ‘unfair.’ Consumers have won back millions of pounds through the courts and as of writing, no bank in the U.K. has yet defended a claim. Perhaps consumers in Canada should do the same?



 
 
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