Bank charge update July 2008

SUSPENSION REMAINS IN PLACE UNTIL JAN 09

Following the judgement made in May allowing the Office of Fair Trading to challenge the banks on the legality of their charges, it has been confirmed that the banks have lodged an appeal.

In response to this, the Financial Services Authority have extended the suspension on bank charge complaints for a further 6 months taking us to January 09.

In short this means that anyone claiming back charges on their current account will have to wait until at least January until they will know whether or not they will receive any money back.

This comes as yet another blow as the banks have been allowed to continue charging in the meantime.

If you have a claim with Unfairbankcharges please be advised that we have everyone’s case on file and as soon as there is any change in the situation we will be in touch.

In the meantime, if you receive any further charges on your account, please keep the details so that we can add them onto the figure we already hold once the suspension is has been lifted.

Watch this space for any future updates.

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