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Bank charge update 26th February 2009
BANK APPEAL THROWN OUT
The appeal by eight high street banks against the ruling that would allow the Office of Fair Trading (OFT) to review bank charges has been thrown out today.
Three appeal court judges decided that the banks did not have grounds for appeal and that "the issues should now be resolved by an OFT assessment of fairness."
It is unclear at the moment whether the banks will proceed further to the House of Lords or whether they will work with the Office of Fair Trading to resolve the matter once and for all. If they decide not to appeal further, then they may either go through the courts again, or chose to work with the OFT out of court to resolve the issue of what is a fair charge.
Whilst this is another significant step for the consumer, unfortunately it does not mean that you will be able to claim your charges back just yet. The Financial Services Authority will still keep their suspension on bank charge complaints in place with the next review date being July 2009.
Lets hope the banks do the right thing now and work with the OFT to bring an end to this situation as quickly as possible.
Watch this space for any further developments.
Welcome
Millions of people in the UK have suffered from costly bank charges, if you are one of these people and have had unfair penalties applied to your bank or building society accounts, then you have a chance to reclaim them with Unfairbankcharges.net
These Penalty Charges are illegal and whether you have been over-charged in your personal or business bank accounts, Unfairbankcharges.net can negotiate on your behalf and recover these penalties for you.
From start to finish unfairbankcharges.net will manage your claim so you don’t have to.
In the News
See our links below to receive up to the minute news bulletins and useful information regarding this extremely topical subject:
- SUSPENSION REMAINS IN PLACE UNTIL JAN 09 Read on...
- OFT WIN BANK CHARGE CASE! Read on...
- The court case between the Office of Fair Trading (OFT) and the high street banks started on 14th January 2008! Read on...
- Are you a small business? You can make a claim for your business bank charges! Read on...
- OFT launches test case on unauthorised overdraft charges. Click here to read what this means and the possible impact on your claim...The FSA
- Unfair Bank Charges is granted its regulatory status...
- Carry on fight over Bank Charges...
- A&L to pay damages for closing account...
- Bank charges backlash hots up...
- Are penalty charges bank robbery?...
- Crackdown on 'rip-off ' bank overdraft charges...
What are Bank Charges?
Bank charges or penalty charges are when you have been overcharged excessively and punitively for any of the following:
- Account misuse fee
- Cheque return fee
- Card misuse fee
- Unarranged borrowing fee
- Unauthorised overdraft fee
- Unpaid DD fee
- Unpaid cheque fee
- Unpaid standing order fee
- Exceeding Authorised Overdraft
- Exceeding Unauthorised Overdraft
- Direct Debit returned fee
- Paid referral fee
These are just some of the more common charges, the list can go on and on...
Make a “No win no fee” Claim right now by clicking here and completing the online claim form.What are PPI Charges?
If any of the following applied to you when you took out a credit agreement you may be entitled to a refund.
- I was self employed
- I was unemployed
- I was retired
- I was a student
- I had a known medical condition but was never asked about it
- I was never told about the insurance by the salesperson
- I was told that I had to have the insurance in order to qualify for the loan
- I took out a single premium policy but subsequently cancelled the loan
If you are unsure if any of the listed examples apply to you then why not check it out by either calling us or completing our online claim form here...
Make a “No win no fee” Claim right now by clicking here and completing the online claim form.