Latest Rumour

GerryS

My daughter who works for Hbos tells me that all the banks are now reducing their charges to around £5. Although the banks will lose the court case they will not be forced to pay back any past charges because the customer is seen as breaching the terms and conditions clearly stated in their agreement with the bank. Anybody else heard this rumour?:eek:

TG82

I hate the sound of that.

But to be honest, I've been wondering how true it is that the banks are on the back foot and likely to have to pay out.

Obviously it behoves the banks to portray confidence, but I just haven't sensed that they truly feel they're going to have to pay out.

Nathan_Spleen

During the test case the banks successfuly argued that the customer did not breach their T&Cs and this was reflected in Justice Smith's declaration that the charges were not penalties, specifically because no breach of contract occurred.

natweststaffmember

GerryS wrote: »

My daughter who works for Hbos tells me that all the banks are now reducing their charges to around £5. Although the banks will lose the court case they will not be forced to pay back any past charges because the customer is seen as breaching the terms and conditions clearly stated in their agreement with the bank. Anybody else heard this rumour?:eek:

There is a thread on here which tells you exactly the details by Jambosans on the discussion thread. Date it is coming in is 6th December 2009.