UK banks pay out €297m to settle claims

UK banking giants are understood to have forked out an estimated £200m (€297m) so far this year on settling claims relating to “unfair” overdraft fee and interest charges, according to a recent report.

Analysts at Credit Suisse have totted up the potential multi-million pound bill in a study on the sector, suggesting that banks such as Royal Bank of Scotland, Barclays and HSBC have each paid out millions since the start of the year alone.