Bank Charges, Decision?????

ARNIE_GOONER

Read today in a tabloid that a decision on the banks appeal will be made by Thursday??? Anybody heard anything

Nathan_Spleen

http://www.hmcourts-service.gov.uk/cms/list_coacivil.htm

ARNIE_GOONER

So we will know by the end of the week, sorry if I sound stupid, just really new to this!!!

Obi167

Is it this one;

NOTICE
Take notice that on THURSDAY, 26 FEBRUARY, 2009 in COURT 71, at 10 O'CLOCK, Judgment will be given in the following.
APPLICATIONS
A3/2008/1406(Y) Office of Fair Trading -v- Abbey National Plc & ors.
A3/2008/1396 Office of Fair Trading -v- Abbey National Bank Plc.
APPEAL
From The Queen's Bench Division
(Commercial)
FINAL DECISIONS
A3/2008/1400 The Office of Fair Trading -v- Abbey National Plc & Otrs.
A3/2008/1401 Office of Fair Trading -v- Abbey National Plc & Otrs.
A3/2008/1402 Office of Fair Trading -v- Abbey National Plc & ors.
A3/2008/1403 Office of Fair Trading -v- Abbey National Plc & Otrs.
A3/2008/1404 Office of Fair Trading -v- Abbey National Plc & ors.
A3/2008/1405 Office of Fair Trading -v- Abbey National Plc & Otrs.
A3/2008/1406 Office of Fair Trading -v- Abbey National Plc & ors.
A3/2008/1407 Office of Fair Trading -v- Abbey National Plc & Otrs.

Why abbey national?

bengal-stripe

Obi167 wrote: »

Why abbey national?

Let me guess, alphabetically they come first.

Obi167

fair enough

jakemuk

so come thursday that could be end of bank charge claims ?

Tracey1973

hi this is 1st time on this forum,like rest of you i too whats rightfully mine-over paid bank charges.but dont know where to start please help?if i have more than 1 account with same lender will i have to deal with them separate???

bengal-stripe

jakemuk wrote: »

so come thursday that could be end of bank charge claims ?

No, don’t be too hasty! It is not likely to to be the end of bank charges, nor of potential reclaims

The decision on Thursday concerns only OFT and if they have the right to assess charges on grounds of ‘fairness’. The OFT hasn’t come up yet with any indication, whether or not they consider charges to be fair or unfair. Most likely they might consider them ‘fair’ up to a certain point (maybe £12.00 as in CC) and ‘unfair’ above that level.


On the other hand, the banks might win, as they have won the point, that charges are not ‘penalties’ (which would make them automatically unlawful).

Whoever wins, there are more appeals to follow, right up to the Lords and Strasbourg. That case is likely to drag on for a few more years.

Nathan_Spleen

bengal-stripe wrote: »

The OFT hasn’t come up yet with any indication, whether or not they consider charges to be fair or unfair. Most likely they might consider them ‘fair’ up to a certain point (maybe £12.00 as in CC) and ‘unfair’ above that level.

The OFT wrote to the banks on the 8 November to tell them they consider the charges are unfair. This was confirmed by the lead test case QC acting for the banks during the November appeal hearing.

MR RABINOWITZ: You do. One of the reasons why the OFT in this -- your Lordships will appreciate the OFT has already produced a market study survey, and it has written to the banks to explain why, on a preliminary basis, it considers these terms to be unfair, and one of the bases upon which it says these terms are unfair is because the relevant charges in a sense they say are set too high.

The OFT have made it plain that they do not consider CC defualt charges under £12 to be 'fair'. The £12 figure is the threshold trigger by which the OFT will investigate the charges and is temporary measure due to be reviewd about now.

McKneff

Tracey1973 wrote: »

hi this is 1st time on this forum,like rest of you i too whats rightfully mine-over paid bank charges.but dont know where to start please help?if i have more than 1 account with same lender will i have to deal with them separate???

:hello:Hello Tracey and welcome to the site.
At the moment they are not 'rightly yours' and you have not over-paid, you have paid charges which the bank set out = it is only if the banks lose their appeal that they will have to refund charges. I think the majority of people are expecting to be refunded, but is not a foregone conclusion by any means.

I dread to think of the outcome if the bank wins the appeal,