MSE News: Bank charges result next week

orc_2

pingchris wrote: »

well im sticking my neck out here so its likely to get cut off,i think this is the end of the line for the banks defence,if they go on any further it would be folly and there solicitors would be getting paid knowing they have lost but they carry on acting on instruction from the banks,i think thats been going on for a while now anyway,the banks are at a crossroads now,do they push on and fight some more,or do they consolidate,repair and move on,the latter would be the wise decision,but going by there decisions over the past 5 years or so,i wonder if they are able to draw this conclusion.:money:

You might well say that, but I could not possibly comment.

wayne99

i dont know what to think anymore lol

All i know is not to expect a refund any time soon, but it would be a small light at the end of a very long tunnel if we get some kind of judgement.

I know the banks will just appeal and appeal again on every little factor thats obvious, what would be good in my opinion is if the hold on paying out was lifted, at least if some consumers saw there money back it would somewhat stimulate some spending (and to be honest before xmas that would be great!!). i say that though with a rather pessimistic view as i doubt it will happen.

natweststaffmember

pingchris wrote: »

well im sticking my neck out here so its likely to get cut off,i think this is the end of the line for the banks defence,if they go on any further it would be folly and there solicitors would be getting paid knowing they have lost but they carry on acting on instruction from the banks,i think thats been going on for a while now anyway,the banks are at a crossroads now,do they push on and fight some more,or do they consolidate,repair and move on,the latter would be the wise decision,but going by there decisions over the past 5 years or so,i wonder if they are able to draw this conclusion.:money:

Currently the case is about whether the regulations apply to bank charges. If they do then the OFT look at the fairness issue.
Once the judgement is handed down the OFT are going to have an updated Q&A's on their site(this they have confirmed).
If the Bank win the OFT can still look at the service aspect to it but there would be no refunds.(the bank winning scenario is in the House of Lords Transcript so not speculating on that element{for reference pages 113-115 I believe on day 3 transcript ).
I think now is the time to sit and wait and we will know in less than 48 hours what the verdict is.

natweststaffmember

wayne99 wrote: »

i dont know what to think anymore lol

All i know is not to expect a refund any time soon, but it would be a small light at the end of a very long tunnel if we get some kind of judgement.

I know the banks will just appeal and appeal again on every little factor thats obvious, what would be good in my opinion is if the hold on paying out was lifted, at least if some consumers saw there money back it would somewhat stimulate some spending (and to be honest before xmas that would be great!!). i say that though with a rather pessimistic view as i doubt it will happen.

Wayne this should be the end of the first part of a two part case(unless the banks' appeal succeeds in which case it is over). We await the verdict to find out.

chipbeck

pingchris wrote: »

well im sticking my neck out here so its likely to get cut off,i think this is the end of the line for the banks defence,if they go on any further it would be folly and there solicitors would be getting paid knowing they have lost but they carry on acting on instruction from the banks,i think thats been going on for a while now anyway,the banks are at a crossroads now,do they push on and fight some more,or do they consolidate,repair and move on,the latter would be the wise decision,but going by there decisions over the past 5 years or so,i wonder if they are able to draw this conclusion.:money:

I agree entirely. I think the banks will just take it on the chin and give us our money back.

I also think England will win the world cup next year and John and Edward will be reistated on the x factor and win that.

orc_2

chipbeck wrote: »

I agree entirely. I think the banks will just take it on the chin and give us our money back.

I also think England will win the world cup next year and John and Edward will be reistated on the x factor and win that.

I agree with almost everything you said, bank apart, except-









Scotland just edge England in extra time in the final, after England have been wasting time, hoping for penalties!!:rotfl:

pingchris

england winning the world cup hmmmn no,john and edward er no,,,,,,,,,banks giving our cash back..................yes.:money:

mackers8923

natweststaffmember wrote: »

You know you should stop reading the BBC website on the date of a final conclusion to all the issues involved

I read the bbc business news after writing that date, honest

But I'm sure your getting blue in the face telling people that Wed is not really going to do anything major to the cases on hold. We are promised nothing, I'm just getting annoyed at my bank starting to charge me again for silly DDs like £13 mobile which I had no control on picking the date.

Everything goes against the consumer here, I honestly hope the banks get what is very due to them!

natweststaffmember

orc wrote: »

I agree with almost everything you said, bank apart, except-









Scotland just edge England in extra time in the final, after England have been wasting time, hoping for penalties!!:rotfl:

With respect, Scotland failed to qualify

Kimberley

Is it true that if Banks are forced to refund bank charges they will charge people £2.50 per transaction to withdrawel money from ATM machines? It was in the media yesterday and wondered if it were true.