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Are banks allowed to charge customers for letters?


Are they allowed to charge 拢30 for a letter to tell you that you have gone overdrawn on your account?
Is there any laws to stop them from doing so?
What does it cost to send a letter? 拢1?

I suggest you to close all your accounts and move to another bank.

I also suggest you to buy Microsoft Money 2005 Standard Edition or at least a notebook to write down all your deposits and withdrawals to keep your balance up to date so you don't overdrawn your account again.

It's a lot cheaper than 拢30

Top 3 Answerer in Business & Finance. (Vote for me)

some banks charge their customers for accounts confirmation. i think it's part of their "service". after all, stationeries like their letterheads, envelopes, printer ink dont come free..not too sure if there is law to stop them from doing so....hmmm...

Banks can and does what they like... It would have been it the fine print of your account details... Banks sux but what do you do, you need them...

I'm afraid they are. Which is rather silly when you think about it...they are charging you to tell you that you have no funds, so where do they think the money is going to come from to pay for the letter they are sending you!

In the USA Yes.

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