MSE News: Bank charges: banks win test case appeal

onlypaddy

Oh for God's sake! Where to now?

From the Supreme Court Judgement:

However, the charges might still be open to assessment by the OFT on other grounds under

Regulation 5.

Anyone know what this means?

Triker

What a crying shame.

AndrewML

To all normal, hardworking people of the country does this result realy come as a shock considering the banks are now nearly all owned by the state?

Lets face it as wrong as the judgement is and we all know it, there was only ever going to be one outcome and it was never going to be in the favour of the consumer, certainly not when the government now owns most of the banks now anyway they would fight until the end using our money to pay for it!!

Normal back hand tactics, used again and again and in this case again by the millionnaires who put us in the recession in the first place, nice one wish i could be a politician or banker, wouldnt need the money anyway then.

Is this the end result now?

bluekaw

good luck martin, finding a way round this, thanks for all your efforts

C_Mababejive

Whats the problem?? ive hardly ever paid bank charges. If the banks had lost, they were threatening to charge everyone to recoup some costs of operating accounts.

Can someone tell me why i should pay charges when i run my accounts in such a way as to not endure charges..just so that others can run their accounts less efficiently AND get compensation payments for so called unfair charges??

euronorris

I'm still in shock and really, really p'ssed off. I don't even have a claim in! It's just the principle of it!

Maybe we should all start demanding higher interest rates on our current accounts and savings. Or, if they do not transfer money instantly (which is possible by the way - I am able to transfer funds to other Dutch bank accounts instantly!), we should charge them a 35 GBP flat fee for the delay.

Absolute ffing b' stards!

Harry_Powell

SailorSam wrote: »

If the decision had gone against the banks they would have looked for other ways to recoup their lost revenue, it would have probably been the end of free banking for the majority who live within their means.

I agree, they would have simply charged us all for the priviledge of storing our money, and for withdrawing it at a cash point. I must admit that I am glad the banks won and I retain my free banking.

Wispa1

No surprise here really. Do you think the banks will want our blood next seeing as they can now pretty much do what they want!!! Maybe a kidney will do???:eek:

immoral_angeluk

Ouch... didn't see that one coming. Then again it doesn't surprise me really. The banks have too much weight and too much input into the economy to risk losing billions.

TonyMMM

simonp wrote: »

I'm obviously in the minority here but I'm glad of this decision.

No-one will win - if the banks lost they would just end free banking and we'd ALL have to pay for it.

As someone who hasn't paid a bank charge since being at uni in the 90's, I'm more than happy with my bank

If you go overdrawn without permission, you pay the fine! Simple!

Sorry - don't shout at me! I'm a big Martin Lewis fan but have always been against this campaign.

Seconded ....