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huggychair

Conor wrote: »

If the banks win, those who couldn't handle their money will be charged the amount they were clearly informed about. They should be grateful. Once upon a time, writing a cheque you had no money to cover meant an appearance in front of a judge.

If the banks lose, everyone with an account loses, even those of us who keep our accounts in credit.



And do what? Be sensible.:rolleyes:

I Think it's important to point out that one of the reasons the High Court case is being levied (agreed by parties) is that there is a new big thing involving banking charges on its way via the USA. The 'prepaid debit card'

These are cards that charge you for an acceptable payment medium ie 'Mastercard/maestro' or 'Visa' whilst staying at a hotel abroad. (the 'james Bond approach'!) or whilst buying things in the UK typically 2.5% and £10 to issue the card.)

UK banks don't seem to like issuing such cards on 'basic' bank accounts (a big demographic!:- certainly if your purse-strings are attached to them!!)

However they seem to be underwriting (read insurance) a number of the current offers on these things (no credit check required)

Read about offers/apr:
http://www.moneysupermarket.com/cards/cardsresults.asp?Feature=Prepaid

IF you think these debit='credit'<credit> </credit>cards are not important enough to mention yet then you would be right!

But factor in the (google-it!) US success (of Pre-paid cards) and the banks pinning things on the UK markets' adoptance of 'pay-as-you-go' mobile phone/top-up system.. and you see where the big cash lyes!... <<<imho>>>

Who knows:-a 'court argument' even..? LOL

:cool:</imho>

frugalpam

I've just read this http://forums.moneysavingexpert.com/showpost.html?p=5867825&postcount=226

Is this true, that it could take a year ??? Heaven help those of us in the Court system, if it is true.

Beate

frugalpam wrote: »

Is that generally acknowldedged ???
Thats very bad news for many of us.

Okay, if no one is going to read my links I am quoting from them: How long will the test case take? At this time it is too soon to give any exact timescales for a conclusion to the test case but it could go for more than a year. We have agreed with the OFT and the FSA to conduct the test case in an efficient, prompt and orderly way.

Jayneo_2

MrDinkle wrote: »

Same Date as mine Shelley and same location! I just called Cardiff court and they said that this hearing will still take place regardless...

See you there!

Hiya,

Me & my partner are also due in Cardiff on teh 14th & I've spoken to THE JESTER & AGNES ages ago who are also due here on that date - see you there!!!!:T

Beate

Ah yes, that's what the banks have put in their statements on their websites, I have posted the HSBC and Nationwide one, someone else posted the Abbey statement and they all say the same thing: How long will the test case take? At this time it is too soon to give any exact timescales for a conclusion to the test case but it could go for more than a year. We have agreed with the OFT and the FSA to conduct the test case in an efficient, prompt and orderly way. http://www.nationwide.co.uk/popup/overdraft.htm?source=nationwide&campaign=homepage&execution=overdraft_lhs_27072007

darrenandjanice

what really gets my goat is that if the banks had followed the laws of the land my case would have been sorted by now. i ask for my charges/6 yrs statements in may and are still waiting for them as you can gather that is well over the 40 day that is allowed by data protection act so if when a ruling is made then, and if it goes in the banks favor i will claim for breaking the law.

and on another note if banks have already paid out to 100's of 1000's of there customers sureily that is an admission of guilt that charges are to high so is'nt this just another paper exersise by the bank

as churchill once said " we will never surrender" keep going guys the banks and that stupuid lady are worried vey worried well done martin thanks for helping the little guys:T

frugalpam

Well, it's taken 3-4 months for me to get a Court date for a small claim, so I shouldn't be suprised that the test case will take a year or more to be dealt with.
I'm personally not holding my breath on it all or counting on getting any of my charges back now.

Beate wrote: »

Ah yes, that's what the banks have put in their statements on their websites, I have posted the HSBC and Nationwide one, someone else posted the Abbey statement and they all say the same thing: How long will the test case take? At this time it is too soon to give any exact timescales for a conclusion to the test case but it could go for more than a year. We have agreed with the OFT and the FSA to conduct the test case in an efficient, prompt and orderly way. http://www.nationwide.co.uk/popup/overdraft.htm?source=nationwide&campaign=homepage&execution=overdraft_lhs_27072007

katecheshire

The principle of all our claims is that the charges imposed were unlawful because they were not based on the cost to the banks. In order to avoid revealing the actual costs the banks have been settling on a goodwill basis . . .SO surely they will have to reveal the true cost as part of this test case.

If they have not notified you in writing of their actions eg your a/c is OD or 'we have bounced your DDs' etc, then the only cost is a few seconds of computer time. If this actual cost turns out to be a max of £5 (for example) will banks be obliged to refund to all any excess charges over the last 6 years? TO EVERYONE!!
It is hard to feel positive if your claim is not started or is in the process but what we need now is a clear strategy about what to do next.
Is there some way of registering our intention to start /proceed with claims so that the banks can't dismiss them under some time limitation?

Gemma7_2

i could someone tell me if there is anything i can do or if i just have to wait now, I was supposed to have received the letter this week with barclays offer, i'm a single mum and that money would have been sooo helpful we struggle as it is. thanks

frugalpam

I think the advice appears to be to put a claim in so that it's 'in the system'.
Don't hold your breath about getting your charges refunded any time soon, though.

katecheshire wrote: »

The principle of all our claims is that the charges imposed were unlawful because they were not based on the cost to the banks. In order to avoid revealing the actual costs the banks have been settling on a goodwill basis . . .SO surely they will have to reveal the true cost as part of this test case.

If they have not notified you in writing of their actions eg your a/c is OD or 'we have bounced your DDs' etc, then the only cost is a few seconds of computer time. If this actual cost turns out to be a max of £5 (for example) will banks be obliged to refund to all any excess charges over the last 6 years? TO EVERYONE!!
It is hard to feel positive if your claim is not started or is in the process but what we need now is a clear strategy about what to do next.
Is there some way of registering our intention to start /proceed with claims so that the banks can't dismiss them under some time limitation?