OFT Win

[Alphageek]

The OFT have basically won. The Banks are refused leave to appeal. The banks now have to ask the House of Lords for leave to appeal.

 

County Court claims to remain stayed, but OFT are now cleared to publish their findings on the charges, their initial findings are that they are unfair!

 

I'm sure CAG will be putting out a full update later.

Edited February 26, 2009 by Alphageek
spelling!

[Shuff]

BBC NEWS | Business | Bank charges appeal is thrown out

 

 

Looks like they are not allowed to appeal in the house of lords

 

As Barry would say, "That's a right touch"

[Alphageek]

They have the right to ask the Lords for leave to appeal.

 

It's almost certain in my mind that they will seek leave.

[Alphageek]

Perhaps not!

 

BBA – British Bankers' Association - Statement on Bank Charges Test Case

[Alphageek]

BBC NEWS | Business | Bank charges appeal is thrown out

[zaidey]

when i read this a big smile appeared on my face....

 

lol at the banks they had this coming to them for so long..

 

and gratz to the OFT to sticking to the cause and seeing this threw

[Enron]

Only downside is that the banks will likely introduce charges for having a current account to make up for the loss in profits.

 

Though it will be a very brave bank to introduce them in the current climate, with those who can change bank likely to change to an institution that doesnt have a monthly fee.

[photoman]

Only downside is that the banks will likely introduce charges for having a current account to make up for the loss in profits.

 

Though it will be a very brave bank to introduce them in the current climate, with those who can change bank likely to change to an institution that doesnt have a monthly fee.

 

On a similar note, an interesting feature in the Telegraph today about the current climate in banking;

How banks are pretty desperate to get new customers, how to compare the various providers, the services, and the pluses and minuses of the various accounts suited to your own needs.

 

Quote:

But banks are desperate for your custom at the moment, and some are offering good incentives to lure you into their current accounts – knowing that once you are hooked, you could be with them for life. Both First Direct and Alliance & Leicester will pay you £100 if you switch to specific current accounts, while Halifax offers to pay you £5 a month. But how can you tell whether these are the right accounts for you?

More here:

Bank charges: Find the best bank account - Telegraph

[Fred_Funk]

Perhaps not!

 

BBA – British Bankers' Association - Statement on Bank Charges Test Case

 

 

Alphageek

 

I'm confused by this as the link you highlight clearly suggests the banks do intend to seek leave to appeal to the House of Lords.

 

Can you explain?!

 

Fred_Funk

[dolly]

Alphageek

 

I'm confused by this as the link you highlight clearly suggests the banks do intend to seek leave to appeal to the House of Lords.

 

Can you explain?!

 

Fred_Funk

 

The article has changed since it was first posted.

[Alphageek]

The article has changed since it was first posted.

 

Yes, what Dolly said.

 

They obviously thought about doing the right think and then came to their senses

[Buby x]

Ive read many threads but am still unclear as to the next step. my claim was stayed probably a year ago. Is it still a waiting game until the banks appeal or the Fsa decide how much the charges actually cost the banks. will the courts now lift the stays.

[gizmo111]

Ive read many threads but am still unclear as to the next step. my claim was stayed probably a year ago. Is it still a waiting game until the banks appeal or the Fsa decide how much the charges actually cost the banks. will the courts now lift the stays.

 

Basically it is still a waiting game. The stays will not be lifted yet.

[fzrkitten]

Hi all. What get's me is the paragraph on that BBA report that says:

 

There is limited guidance from case law on whether and how the UTCCRs apply in these circumstances.

The Banks continue to believe that the UTCCRs do not apply to these types of charges, where the customer is using and paying for a service that is being offered.

 

So how come, and there are probably thousands more people same as me, I wasn't allowed an overdraft on the type of account I had, so how were they providing a service? They just charged me every time for going over big fat zero, and direct debits of course.

 

This has been my argument all along, and my charges go into thousands.

 

I had to sell my house (luckily I sold in 2 weeks), because of the banks. I am in a better position now but that's not quite the point as you guys all know.

 

When will they give in?

 

Bw,

 

Fzrkitten

[Alphageek]

Hi kitten, the next step is, helpfully, the HoL refusing them the right to appeal the appeal court's decision. Will be about 12 weeks at most for that decision.

[fzrkitten]

Hi alphageek,

 

I hope for others it is resolved quickly, although it seems it will drag on. I'm ok now, (still waiting like you though) but I know many of my friends on here are still suffering badly while waiting.

 

Just makes you wonder how many more game's they'll play and how many more lives they'll ruin first.

 

Good luck all!

x

[choco]

Basically it is still a waiting game. The stays will not be lifted yet.

 

What I want to know is will they contact each customer individually that have had their cases stayed?? I really only check up on this once every month or so, after 2 years of this i am now less enthusiastic about getting back my money!

[yourbank]

What I want to know is will they contact each customer individually that have had their cases stayed?? I really only check up on this once every month or so, after 2 years of this i am now less enthusiastic about getting back my money!

The courts or the banks?

[Bookworm]

The Banks continue to believe that the UTCCRs do not apply to these types of charges, where the customer is using and paying for a service that is being offered.

Naughty naughty. The courts found that they weren't offering a service. Granted, they didn't find they were a penalty either, but the judgment also clearly stated that they were not a service.

 

The BBA, lying? Surely not.

[choco]

The courts or the banks?

 

The courts, I guess...?

[yourbank]

The courts, I guess...?

I have to be honest and say I don't know. The problem is that the OFT test case issues are still unresolved so that is one of the questions that will need resolving. Is your stay indefinite(well until the OFT test case is resolved)?

[Bookworm]

That is one of the worries: A lot of people will have had an indefinite stay, but others will have been given a date beyond which their claim could get struck out without notice unless they notify the courts they want it to carry on.

[choco]

I have to be honest and say I don't know. The problem is that the OFT test case issues are still unresolved so that is one of the questions that will need resolving. Is your stay indefinite(well until the OFT test case is resolved)?

 

Yes I believe so, basically until the cases are resolved it's on hold...

[choco]

That is one of the worries: A lot of people will have had an indefinite stay, but others will have been given a date beyond which their claim could get struck out without notice unless they notify the courts they want it to carry on.

 

Oh wow, how can I check which applies to me. It should obviously say it somewhere in my paperwork, but which one?? I'm sure it is stayed until further notice, but now I need to be sure!

[Bookworm]

When your claim got stayed, you would have had a letter from the courts, you need to find it and see what it says.