Bank Charges

Reader1's picture


Bank charges - I understand that the banks have won the final (but not the last) stage in the Supreme Court. This is quite surprising as there has already been apparantly, a £560 million payout and a number of banks (including some catalogues/store cards) have reduced their fees to £12…. It seemed to me that this only led to one conclusion (considering the huge media attention). How can they go back to their former position or remain where they are ?…. (bearing in mind the time that has already been spent on this by the customer and themselves on administration among other demands). The argument to me made a lot of sense and was straightforward and coherent, or else they wouldn’t have followed it in the first place….


I have had a number of successful refunds and am still waiting for one more outcome (this is a first claim). I have kept a track of this in the news.

Your Comments

I do hope that we don't see a huge rise in fees again. I also got 2 refunds and I am afraid that this ruling will allow them to get the money back.

Unfortunately, as far as the OFT are concerned at least, this is the final straw. They announced this morning that they will not continue their fight against the banks. Hugely disappointing decision but they claim they feel that individuals have a better chance of success in taking their own individual cases to court.

I hope someone does and I hope someone does so successfully, as this, I feel, will set a precedent.

Good luck to those with any outstanding claims.

The trouble is, if I recall, there were a couple of cases in the small claims court that did go in favour of the bank shortly before the FSA allowed banks to freeze claims.  I think Money Saving Expert are looking at a new letter to the bank so claimants can come in at a different angle.

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