MSE News: Bank charges: banks win test case appeal

orc_2

Here is the actual judgement being handed down, from BBC web site


http://news.bbc.co.uk/1/hi/business/8378222.stm

LeGrandThommo

BankReclaimRebel wrote: »

We're all forgetting that the OFT can still look into the charges under different rules....

Don't you think they would have done that already? The route they took was hardly the easy option!

dirtydavey

The_White_Horse wrote: »

if you checked your bills, you would not be in this problem. this is your fault - not the banks. check your bills. check how much you have in your account. I do, at least twice a day. i was hit with one charge about 7 years ago - purely because i thought i had about 40 quid more than i did. It was my fault. what can you do? check check and check again.

Right so you where hit! Not perfact then, no?

Lucky you where able to sort it out. For me and many others thats the start of a massive spiral that they simplay cant affford to get out of.

bristolleedsfan

The_White_Horse wrote: »

if you checked your bills, you would not be in this problem. this is your fault - not the banks. check your bills. check how much you have in your account. I do, at least twice a day. i was hit with one charge about 7 years ago - purely because i thought i had about 40 quid more than i did. It was my fault. what can you do? check check and check again.

And keep a reasonable credit in the account just in case of unexpected events. People get a choice of date Direct Debits come out as well.

euronorris

ILW wrote: »

I would have thought the obvious solution was not to go overdrawn. Or am I missing something?

Thank you oh wise one. If only we had thought of that before!

Idiot.

Not everyone goes overdrawn due to poor financial management you know! There are any number of circumstances that can lead to this situation!

My personal favourite is the bank charging me for going overdrawn, when I hadn't! They did this at a time when I was low on funds and so the charge meant I did then go overdrawn. And then they tried to charge me for going overdrawn because of a charge they had incorrectly processed in the first place!!!! And then charge interest on top!!! Took 3 months to sort that one out!

Get down of your high horse, I think the lack of oxygen is clouding your thoughts!

sparky0107

"The Banks will work with the regulators to ensure that the outstanding customer complaints are brought to a swift conclusion."

This is a quote from Martin this morning, does this mean the banks are going to play ball?

dirtydavey

mramra wrote: »

You made a mistake, you paid for it, hopefully you won't repeat the mistake again. End of.

Quite right! I am sorry! I have learned now! And I will never do it again!

Silly silly person!!!!!!!!!

orc_2

Here is an OFT statement from their web site

http://www.oft.gov.uk/news/press/2009/137-09

Newsroom

Press releases 2009


OFT disappointed by Supreme Court judgment

137/09 25 November 2009
The OFT is disappointed by today's Supreme Court judgment, which overturns previous High Court and Court of Appeal rulings that unarranged overdraft charging terms can be assessed in full for fairness. It will also be disappointing for many consumers.
The OFT will now consider the detail of this judgment before it makes a decision on whether or not to continue its investigation into unarranged overdraft charging terms. It will also explore with others the implications for consumers and for existing and future legislation and regulation. The OFT expects to make a further announcement in December.
The OFT set out its concerns in relation to unarranged overdraft charges as part of its 2008 market study. This found that banks earn around a third of their retail revenues from unarranged overdraft charges that are difficult to understand, not transparent, and not subject to effective consumer control.
The OFT will be seeking discussions with banks, consumer organisations, the FSA and the Government in the light of this judgment.
NOTES
1. A copy of the Supreme Court judgment is available on the Supreme Court website at: www.supremecourt.gov.uk/news/judgments.html.
2. The Unfair Terms in Consumer Contracts Regulations 1999 (UTCCRs) are designed to protect consumers against unfair standard terms in contracts they make with traders. The Office of Fair Trading, together with certain other bodies, can take legal action to prevent the use of such terms.
3. The other parties to the test case are Abbey National plc, Barclays Bank plc, Clydesdale Bank plc, HSBC Bank plc, Lloyds Banking Group plc, Royal Bank of Scotland Group plc and Nationwide Building Society. Together these current account providers account for about 90 per cent of personal current accounts in the UK.
4. Read more information about the OFT's investigation into unarranged overdraft charges.
5. Read 'Personal current accounts in the UK - an OFT market study', along with the follow-up report of October 2009.



Back to:Press releases

Gregullah

Namechanger wrote: »

It says in the article that it is not the end of the matter. Can we still carry on relaiming under hardship then until its sorted?

I've not put in a claim but I'm unemployed and have been for a few months. I have about 6 years of charges... should I still put in a claim or is this a pointless task? Are new claims closed?

imapoorstudent

orc wrote: »

Here is the actual judgement being handed down, from BBC web site


http://news.bbc.co.uk/1/hi/business/8378222.stm

That guy was probably wondering what £30 is on his £200k+ salary.