MSE News: Bank charges: banks win test case appeal

Myrrdin

"Lord Phillips also noted that in the absence of the charges the banks would not be able profitably to provide current account services without a fee (Para 88). He stated that it might be open to question whether it is fair to subsidise some customers whose accounts always remain in credit by levies on others who experienced events they did not foresee when they
opened their accounts (Para 80)."

Open to question whether it is fair? What a fool!

If we take the banking charging model and apply it to other services we will end up with Hell on Earth.

For example, you can enjoy FREE water, FREE broadband and so on -- all those who pay their bills on time get a refund at the end of the year and they are SUBSIDISED by all those pay their bills late, who then get a charge of £39 for every late payment. What a marvellous system. Let's apply it across the commercial sector.

Why should anyone expect a service for free? It is now time for DIRECT ACTION. All those who want their charges back queue on selected days (e.g. Saturday mornings) and demand - peacefully of course - their charges back.
If done persistently, en mass, this will disrupt the banking industry. Let's all now cause these banks maximum misery in any way we can.

DaveO

ste_coxy wrote: »

they're saying it cannot be referred to the European Court of Appeal

This is disgusting. The previous court rulings said the banks could not appeal but they argued for "special hearing" at the Supreme Court - and got it. So they effectively got their appeal and now the Supreme Court has denied and appeal on their judgement.

No doubt this will be for some legal as opposed to just <sic> reason.

All the Supreme Court judges should resign or be sacked for this reason alone.

Dave

NK74_2

Think I will write to my bank asking for my £10 back!!! maybe even with interest. But also asking them or sorry, telling them I cannot afford to pay their charges, (they dismissed my hardship case even though I had a court order for bailiffs from my lovely mortgage company) and that I wish to close my account.
I cannot beleive this decision, mind you, the 'Lords' who made it are on how much a year!?!?!? Probably with a nice little bonus from the banks aswell...all paid by us teh general public.
Bar stewards!!

a_confused_mum

think I'll be buying a safe and keeping money in that now,or under my mattress and not bother with banks again...they wont be gettign anymore money from me!

AndrewML

The House of Lords / Supreme Court said it could not be appealed to the European Court? was that not the case when the High Court said it could not be appealed either but it still was????

hatingutilities

so does anyone know if there is a bank in UK that dont charge as much, or dont charge at all. there must be some banks out there that are more deserving of our money?

Eggyplop

You can garantee that if the bank had lost they would be able to drag the case on further but were not alowed? This is completely ridiculous!
They know the whole country is short on money and the fact that 41% said they would spend the money paying off bills/debt should surely make the courts think about what they are doing to the “little” people of this country. I am so angry L

Broken_hearted

While I have sympathy for all those who were expecting large payouts I am relieved that we may not be faced with charges just for having a bank account. Too many people joined too late and with the banks in the mess they are there was no way they could pay out to everyone.

euronorris

Harry_Powell wrote: »

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.

And what do you think they will do now?

The court ruled that their charges don't have to be fair. It is only a matter of time before they start charging you to keep the account anyway. And another charge for setting up a DD. And another for transferring funds to another account. And another and another and another.

None of us win with this ruling.

Plus, not everyone in financial difficulty is there because they are bad with money. There are plenty of people who are in that situation due to unfortunate circumstances, redundancy, family loss, illness (preventing work) etc etc.

And even if there are to blame for their own financial circumstances, how are they ever supposed to get back in the black when the bank charges incurred each month can easily total 150 GBP??!!

davemoon

I know this isnt going to go down with a lot of people but I have never been charged a penny by a bank because I manage my finances well. I imagine Martin Lewis too has never been charged a penny. If the banks were told that they had to refund ALL charges then people like me that always manage their account well will probably have suffered through the end of free banking in this country. How fare would that have been. I used to work in a bank and to be fare when an account is opened ALL people sign to say they agree to the charges. How can they then complain ?????? Sorry & i assure you I am not merely writing this to cause arguments but merely to give the other side of the argument.....