Bank Charges Test Case Article discussion

misselvis

Roll on October how long will the madness continue however if the banks lose will they make us pay by withdrawing free banking? we are already seening bank trying to introduce monthly fees. I just want banks to be fair if I have gone overdrawn by £10 don't charge me £35 its all about proportion

natweststaffmember

misselvis wrote: »

Roll on October how long will the madness continue however if the banks lose will they make us pay by withdrawing free banking?
Realistically there has never been free banking, "free if in credit" YES,
we are already seening bank trying to introduce monthly fees. I just want banks to be fair if I have gone overdrawn by £10 don't charge me £35 its all about proportion

Banks have monthly fees for what is called "bells and whistles" accounts.

ally663

In answer to the banks dragging the re-payment of charges out longer.... Its simple math to be honest. There are thousands of claims on hold to be re-paid if the outcome is that they are unfair. Thats going to take a while to process and then there are the new claims that will be put in once the test case is done. I would guess following the test case any brand new claims would be 3 months + to process and the exisiting ones on hold could be 4 weeks +. The hardship claims I would imagine should be the first to complete. Its just a guess, im no expert.

mamf_2

I have recently applied for a refund of bank charges and was offered less than than I am entitled to. I didn't accept the offer as my claim was for £2,500 and I've was offered £1,800. I am a 'hardship' case and since my initial claim the situation as deteriorated considerably and my car has been repossessed so I feel like I should reconsider. I'm really not sure what my advise I would really appreciate it.

natweststaffmember

mamf wrote: »

I have recently applied for a refund of bank charges and was offered less than than I am entitled to. I didn't accept the offer as my claim was for £2,500 and I've was offered £1,800. I am a 'hardship' case and since my initial claim the situation as deteriorated considerably and my car has been repossessed so I feel like I should reconsider. I'm really not sure what my advise I would really appreciate it.

Please tell me why you rejected a £1800 offer? I would have accepted it because the rest of the claim is still live once the conclusion of the OFT test case is over.

MercMan

The BBC reports the Lords may refer some of the issues to the European Court of Justice, as the consumer contract regulations (UTCCR) that the OFT is seeking to use derive from a European Directive. Which IMHO may take years to resolve!!!

Full story here:

http://news.bbc.co.uk/1/hi/business/8120434.stm

mamf_2

natweststaffmember wrote: »

Please tell me why you rejected a £1800 offer? I would have accepted it because the rest of the claim is still live once the conclusion of the OFT test case is over.

I didn't accept because I thought once you accepted the offer that was it and the offer wasn't enough, when I should receive £2500 + interest. Can you suggest what I should do, I guess you can't go back and accept at a later date?
Many Thanks

natweststaffmember

mamf wrote: »

I didn't accept because I thought once you accepted the offer that was it and the offer wasn't enough, when I should receive £2500 + interest. Can you suggest what I should do, I guess you can't go back and accept at a later date?
Many Thanks

What stage are at now?
Rejecting the offer can produce higher offers depending on how you argue your case although it is very rare for an increase.

natweststaffmember

MercMan wrote: »

The BBC reports the Lords may refer some of the issues to the European Court of Justice, as the consumer contract regulations (UTCCR) that the OFT is seeking to use derive from a European Directive. Which IMHO may take years to resolve!!!

Full story here:

http://news.bbc.co.uk/1/hi/business/8120434.stm

I have read reports suggesting there is a fast track way to the ECJ, Furthermore European court of justice is more consumer friendly anyway so nothing to really worry about.

mamf_2

natweststaffmember wrote: »

What stage are at now?
Rejecting the offer can produce higher offers depending on how you argue your case although it is very rare for an increase.

I'm waiting for a reply to my rejection in writing. I asked for them to reply within 7 days and it's been 5. I did speak to them on the phone also and the woman at the other end said she didn't know why I'd rejected because of the test case waiver. I feel like I've done the wrong thing now, is all lost?