Bank Charges OFT Test Case Discussion

nickmack

krisskross wrote: »

So if either side wins outright then the other side appeals it could be 2009 before a resolution is found. Wonder if the waiver will stay until then. It would be in the bank's interests if it does because with every month that passes more charges must be dropping off.

I wouldn't be suprised to see the waiver kept in place.

I assume the banks have now reworded their t&cs to make them as watertight and claim proof as they can.

Indeed they have. I have a sneaking feeling the ruling on Thursday will say the older T&Cs are subject to the fairness assessment, while newer ones are not.

If this does turn out to be the case, I think the judge would have been hoodwinked by the disguising of the charging structure, as essentially, they are one and the same. In fact, if this happens I'd go alot further in describing the judge, but lets save that until after the verdict.

I will be pleased if the judge finds all T&C's can be subjected to the fairness assessment. However as you say, this starts up a new court case which could take another year or more.

chipbeck

krisskross wrote: »

So if either side wins outright then the other side appeals it could be 2009 before a resolution is found. Wonder if the waiver will stay until then. It would be in the bank's interests if it does because with every month that passes more charges must be dropping off. I assume the banks have now reworded their t&cs to make them as watertight and claim proof as they can.

I agree they've been reworded but surely tis doesn't mean they can reword and then continue to charge what they want. My largest charges came last September at Llloyds (post rewording) where they charged me £700 in a month for bouncing 8 dd's and being over my od limit.

woodyg

I inadvertantly did`nt leave enough money in my Alliance and Leicester current account to cover a new direct debit (£13). I have never been overdrawn with them before. They paid the direct debit but then charged me instantly £25 pounds which i thought yeah ok fair enough. Then i got my monthly statement through informing me that i had been charged £5 per day for 24 days interest because that put me overdrawn, thats a whopping £120 for the privelege!!! I have wrote and got a letter back telling me about the OFT case in the high court and i have spoke to customer(not very helpful service people apart from one who agreed it was excessive). This helpful lady got a manager to ring me and i was told in no uncertain terms that i would not be getting any money back until the OFT case had been heard, what a complete joke. I am the only person working in my household and i have 2 young children of which only one of them is school age. I cannot afford to lose £120 pounds as i am only just keeping my head above water now, they have sent an income and expenditure form to assess my financial hardship. I am disgusted and the worry has caused me no end of grief, i am now going to have to try and stall one or two of my DD`s for a month or so to repay this but they are also charging me again at £5 per day because the charges have again put me overdrawn and i just do not have the capital to cover this. Help!!!! I am losing the will!!!!! I have now cancelled all my direct debits with this bank and i will never use them again and i urge others to be careful, i call this gaining money by extortion!! I don`t even think a loan shark would charge that much. Before anybody thinks of using the Alliance & Leicester, think again. Also bearing in mind that i only use this account to pay my monthly bills so that they are kept separate fom normal living expenses!!!

Butterfliesarepretty

woodyg wrote: »

I inadvertantly did`nt leave enough money in my Alliance and Leicester current account to cover a new direct debit (£13). I have never been overdrawn with them before. They paid the direct debit but then charged me instantly £25 pounds which i thought yeah ok fair enough. Then i got my monthly statement through informing me that i had been charged £5 per day for 24 days interest because that put me overdrawn, thats a whopping £120 for the privelege!!! I have wrote and got a letter back telling me about the OFT case in the high court and i have spoke to customer(not very helpful service people apart from one who agreed it was excessive). This helpful lady got a manager to ring me and i was told in no uncertain terms that i would not be getting any money back until the OFT case had been heard, what a complete joke. I am the only person working in my household and i have 2 young children of which only one of them is school age. I cannot afford to lose £120 pounds as i am only just keeping my head above water now, they have sent an income and expenditure form to assess my financial hardship. I am disgusted and the worry has caused me no end of grief, i am now going to have to try and stall one or two of my DD`s for a month or so to repay this but they are also charging me again at £5 per day because the charges have again put me overdrawn and i just do not have the capital to cover this. Help!!!! I am losing the will!!!!! I have now cancelled all my direct debits with this bank and i will never use them again and i urge others to be careful, i call this gaining money by extortion!! I don`t even think a loan shark would charge that much. Before anybody thinks of using the Alliance & Leicester, think again. Also bearing in mind that i only use this account to pay my monthly bills so that they are kept separate fom normal living expenses!!!

i agree i have been charged too, but if there is not enough money in the account why do the banks just reject dds as unpaid. then they would not need to charge silly amounts.

woodyg

don`t expect any grace from the Alliance & Leicester, they should be known as the Extortionate Jester. Disgusting way to treat decent account holders, there may be more trouble ahead...............................

Knackered

krisskross wrote: »

So if either side wins outright then the other side appeals it could be 2009 before a resolution is found. Wonder if the waiver will stay until then. It would be in the bank's interests if it does because with every month that passes more charges must be dropping off. I assume the banks have now reworded their t&cs to make them as watertight and claim proof as they can.

Not really, they are still charging people in the meantime (I've recently been stung for a £38 unpaid DD fee and the subsequent £28 charge for going over my O/D limit), plus the interest is building up and up all the time on the money they owe.

mystic_trev

The body also suggested it had already warned the grocer in connection with anti-competitive behaviour. But it transpired the allegations were not true. The OFT said it wished to "sincerely apologise" for the claims. <!-- E SF -->

http://news.bbc.co.uk/1/hi/business/7362244.stm

Bearing in mind how the OFT blundered their way (in Court) during the Bank charges case. I would think it 'aint a very good sign for tomorrow!:rolleyes:

sjat81

Hello all,

This is my first post on here and I have just seen that there may be a possible decision made tomorrow on the outcome of the test case between the OFT and the banks, I only sent off for a list of my charges about 2 weeks ago and was a fully confident that they would potentialy be found as "possibly illegal" and that I would get quite a sum of money back but........

With the "credit crunch" being upon us and the bank of england offering banks upto 50 billion to help them out I now find it highly unlikely that the outcome will be one that we would all like, probrably to be more in the banks favour and the outcome may very well be influenced by some outside source due to the current crisis, this is why I think the decision has been brought forward and will not be fair but I suppose we will find out tomorrow.

What are your views on this?

devil26

Perhaps you are reading in to it the wrong way. Just suppose the banks have had the result already, they knew there would be a run on their funds, the banks created the 'credit crunch' and are now offered assistance by the Bank of England to help them because they will have to pay back all the ill gained profits to their customers

showergirl

we keep hearing that if the banks lose they will appeal and that this could go on into 2009. So the banks will still win and we will still get charged. the banks are holding this country to ransom and are a law to themselves. The government have give them £50 billion of our money to help the customer and the banks are still refusing to pass on interest rate cuts. So if it will take no notice of the government, will it take any notice of the law. I am beginning to feel very scared. I would love to hear martins veiws