The term
bank charge covers all charges and
fees made by a
bank to their customers. In common parlance, the term often relates to charges in respect of personal
current accounts or checking account. These charges may take many forms, including:
- monthly charges for the provision of an account
- charges for specific transactions (other than overdraft limit excesses)
- interest in respect of overdrafts (whether authorised or unauthorised by the bank)
- charges for exceeding authorised overdraft limits, or making payments (or attempting to make payments) where no authorised overdraft exists