Overcharges from Banks

I

Isabella

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Just wondering has anybody heard of a financial advisor who specialises in checking bank records for overcharges on Interest rates to a client

As far as I know there are only 3 people in the country who specalise in this area on a non fee basis if there are no overcharges
 
I found it strange that the article referred to DLM as an 'independent financial watchdog' and then mentioned that one of its directors 'worked with UB for 30 years'.
 
I don't see how working in the financial industry in the past precludes one from being a consumer advocate?
 
ClubMan said:
I don't see how working in the financial industry in the past precludes one from being a consumer advocate?
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No you are quite right, it doesn't preclude anyone from being a 'consumer advocate' but is this guy truly independent of UB if there was/is a relationship going back 30 years? Maybe he is, I just don't think so.

I also think that describing what is in all likelihood a fee based consultancy/advisory business as an 'independent financial watchdog' is a bit much. I would have though that a 'watchdog' should investigate cases where there is a wider public interest, rather than investigating on behalf of someone who has the knowledge and money to engage their services.

However, I don't want to get into a rant about bad journalism in this thread.
 
CCOVICH said:
is this guy truly independent of UB if there was/is a relationship going back 30 years? Maybe he is, I just don't think so.
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I don't know if he is either. I would not jump to conclusions about him not being independent though.

I also think that describing what is in all likelihood a fee based consultancy/advisory business as an 'independent financial watchdog' is a bit much. I would have though that a 'watchdog' should investigate cases where there is a wider public interest, rather than investigating on behalf of someone who has the knowledge and money to engage their services.
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I would agree with you on this point.
 
I agree that the 'watchdog' term is misleading in this case.

It seems that most of the guys providing this kind of 'watchdog' service are indeed ex-bankers - poachers turned gamekeepers and all that.
 
I know of four such bank checkers. All 4 of them are ex-bankers. They really are the only ones who understand the banking system. All four of them are absolutely pro-client and regularly get refunds from their ex employers.

Another person to add to the list is Brian Weakliam 01 6627679. He checks bank charges and also advises on how to structure your banking to minimise those charges. All these guys are really only suited to business customers.

Brendan
 
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