MSE News: Bank charges: banks win test case appeal

Taffy99

"... this has already been the most successful consumer campaign since the poll tax riots."

Shouldn't that be "so far unsuccessful"?

... I predict a riot.

jonpnash

So the FSA has now released the waiver on claims!
So everyone who is trying to claim can now take their case back to banks, the FOS or county court? Nothing is stopping them, so situation reverts back to what is was before July 2007? or am I missing something here.

This current OFT case was only ever limited in it's scope. Reading the judgment it seems it was judging not whether the fees were fair or not, just whether the OFT has the power to assess them.
The judges do seem to agree they are unfair, as they say this over and over in their "learned" judgment. Seems to me this would be a very good argument for a county court. i.e. the top judges in the land seem to agree that the charges are indeed unfair.
I am now going to take it to country court. Armed with the supreme court's judgment...

To quote...
"The members of the Court are well aware of the limited nature of the issue which
we have to decide in this appeal. But many of the general public (who are understandably
taking a close interest in the matter) are not so well aware of its limited scope. It is
therefore appropriate to spell out at the outset that the Court does not have the task of
deciding whether the system of charging personal current account customers adopted by
United Kingdom banks is fair. "

"It seems to me that this reasoning is relevant not to the question of whether the
Relevant Charges form part of the price or remuneration for the package of services
provided but to whether the method of pricing is fair. It may be open to question whether
it is fair to subsidise some customers by levies on others who experience contingencies
that they did not foresee when entering into their contracts"

marcharrison1979

_Andy_ wrote: »

Update: I bought a sandwich on my lunch break. Yet again I was charged more than it cost the company to make it. Rip off Britain! Disgusting! Boycott shops - they're all profiteering!!

You can tell that this !!!! is a banker. He can afford to buy sandwiches rather than make his own.

sarahs999

I love this country.

Big fat bankers take our money and screw up the world economy. What happens? We bail them out with more of our money and let them carry on like before.

Ordinary people screw up with their money and what happens? Oh that's right, we stamp all over them and push them further into debt.

Anyone who ever trusts a bank over ANYTHING in the future has only themselves to blame.

buckle166

Shocking news!!! In my case I have had a time when I went 2p over my limit to be charged £35 as a result - are they serious that they think these charges don’t warrant intervention by the OFT??? Its bloody robbery!! It’s not as if there is any "discussion" about it - they simply take it from your account - no matter what. The fact that they have in store leaflets explaining the charges does not make it fair!!

The banks know exactly what they are doing and are exploiting customers in a bad position that there account has become overdrawn. What are these people suppose to do - walk into the bank and complain?? - Simple answer the bank would say then... "ok fine we can close your account - you now owe us £x to close the account including charges!!" - lol and even if this was the case that you were so unhappy about this - you cant even change banks!!! They are all the same... we have no other choice!! Are they trying to talk people into removing funds from their account totally?? Cause that will really help the recession!!

Personally i think the fact that the banks were going to have to pay back £2.6 billion to consumers made the government nervous - where were they going to get this money from?? After all RBS for example are pretty much owned by the taxpayer anyway!!! (so does this open another issue? if taxpayers own x% of the bank are we charging ourselves?? - I don’t bloody think so!!)

There are bigger issues at large here - but once more it would appear that the banking world of Britain has once more shafted the consumer... after all for many of us - it is as a result of the recession we are now in this position due to a lost job etc - due to irresponsible banks that we (the taxpayer) then had to bail out...... and the fact that them top "bankers" are still getting paid 6 figures salaries and god knows how much bonuses - really does make my blood boil it really does.

knighter

lauraloo111 wrote: »

So you are suggesting that she sells a house, that prob isnt worth as much as it should be? Get real things arent as simple as that!!

!!!!!!!!

A house is worth only one thing, what someone else is prepared to pay for it or maybe she should look to try and claim back the "loss" in value from somebody else. After all, it can't be her fault she bought something which is now worth less than she paid for it.

I cannot believe some of the posts here, but it's certainly compelling reading.

DMC65

technodup wrote: »

Good. It's always been free for me

That just shows how ignorant and mindless you are, the system loves people like you, because if you're a tax payer you have already helped pay the banks to the tune of £61B to stay afloat you imbecile.

icclealice

MaidMarianofNottingham wrote: »

Live within your means and you won't pay any charges. Nothing is free.
I am pleased by the ruling.
If you don't like the charges then don't borrow the money!
I am a pensioner, by the way and living on a low fixed income.

Exactly, nothing is free!

It costs the banks money to provide a service to customers, whether they have an overdraft or are in credit. So why does everyone who's accounts are in the black think that they should get this service for free?

To those who are saying that everyone should manage their finances better to avoid fee's. If everyone's accounts were in credit, then the banks would have to find a different way to cover their operating costs, which would mean that everyone would have to pay for banking, including you!

Some of the comments on here are downright pathetic and rude. Where is your human compassion?

To those comparing the want of fair charges to robbing the bank, why do you all expect to get your banking for free?

Pot, kettle, black.

j19

blind-as-a-bat wrote: »

Really, is that why i could watch my wife shopping live on internet banking, or at least the ballence reduce live with every transaction.

She has a visa debit.

Its doable, they just dont want to do it;)

This doesn't make any sense. I said that balance checking cannot be done in most cases on Visa / Mastercard systems. This has nothing to do with your balance 'reducing live;.

Talk some sense :mad::mad:

_Andy_

marcharrison1979 wrote: »

You can tell that this !!!! is a banker. He can afford to buy sandwiches rather than make his own.

Couple of points.
1) I don't work in banking
2) Your assumption that everyone that works in banking is well-paid ignorant and mis-guided.