As a company that helps people fight the banks to get their hard-earned money back, we always like it when a bank or lender steps up and does things differently. Whether it’s giving something back (to customers and the community), owning up to a flaw, delivering a competitive product or just providing an excellent service – a bank that goes that extra mile really stands out.

So we couldn’t help but notice that Thursday saw a MASSIVE step in alternative banking and one that could be the start of something exciting for financial consumers across the UK. We touched on it in Tuesday’s blog… this giant step was made by Metro Bank, the first new high street bank in the UK for over 100 years and they definatley do things differently. Customers are provided with lollipops and dogs with biscuits as well as free coin counting machines for customers. They’re open 7 days a week, from 8am – 8pm weekdays and have a retail-industry-style focus on customer service.

Whether they prove to be the revolution that the UK banking industry needs remains to be seen, but with Tesco Bank not far off branches in their supermarkets, the future is looking fairer and more competitive for financial consumers who are willing to shop around.

This recession that we’re all in is said to be easing and so it should be with the amount of money the Government has pumped into the problem (FYI: for ‘problem’ read ‘banks’). The money, all £1.2 trillion of it, has been firing of the printing presses as fast as it’s been squirrelled away by those ‘lenders’ that have greatfully received it. And with all this money in the system, there’ll be no excuse not to pay out on bank charges claims. By the by, i’m not sure ‘lenders’ is an appropriate name for them at the moment.

The irony is; all this taxpayers money that’s being used will enable the banks to make fantastic profit off the back of us, as we have to settle for uncompetitive and seemingly unfair financial products. Take mortgages for example, the Bank of England’s base rate is at an all-time low of 0.5%, yet almost all mortgage and loan products have an interest rate at above 4%. And as for savings rates, they’re at one of the lowest points on record. All of this means there’s huge profitability available for banks, even more than they’ve experienced throughout the recent economic peak.

It seems that reclaiming bank charges and PPI could be the one and only way to get anything out of our current financial system, as savings and investments aren’t doing much. But if you do get your bank charges back, look out for familiar coins and expect a feeling of da-ja-vous as it’s our taxpayer money that will be used to refund much of the bank charges, due to the part-nationalisation of the banks.

Sure, the Government will get the tax money back off the banks eventually and no-doubt make a tidy profit from the interest on-top. But One can only hope Gordon’s played them at their own game and made sure it was at well over 4%.

One story in the news recently highlighted just how unfair bank charges can be. It was the story of Bernadette Mardon, the disabled grandmother who was charged a fortune by Natwest for accidentally going overdrawn by just a few pounds.

This woman like many people had set up a direct debit account with a charity organisation. Every month £4 would automatically be paid from her account to a charity that provides guide dogs to the blind. When one month this payment forced her to go overdrawn she was told by Natwest that she would have to pay a £40 maintenance fee on top of an unbelievable £160 overcharge. And people say you’re repaid for your good deeds.

Unable to pay the fee, she appealed to her bank to wave the charges. She was told by Natwest’s head office that they would drop the £40 fee but she would be given absolutely no leeway on the £160 overcharge.

This story isn’t completely bleak though. When Bernedette spoke out about these unfair bank charges to an independent party, Natwest refunded the fees within an hour. This is proof that even if your bank attempts to justify their bank charges, you may still be able to claim them back.

It’s important you get your claim in right away though or at least get the ball rolling immediately as there is already a back log and that is only going to increase. Also, because you can only claim back for up to 6 years ago, the sooner you get started the more of your money stand to you stand to recover.