MSE News: Bank charges: banks win test case appeal

A question about : MSE News: Bank charges: banks win test case appeal

Important MSE Update - 3.30pm:

Hey folks,

Following developments as the day has gone on, we have published the following news stories:

FSA ends bank charges claims hold

Bank charges: the phoenix from the flames

Full bank charges Q&A: how it affects you

Please discuss them at this new thread: https://forums.moneysavingexpert.com/...3#post27234313

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This is the discussion thread for the following MSE News Story:

Read the full story:
Bank charges: Banks win test case appeal

Best answers:

• I had a feeling that was going to happen. I managed to get back about 400 pounds worth. Guess the other 2000 is lost for good.
• i am well shocked!
  i think a lot of dirty back handers have been going on behind the scenes!!!
• I like many was waiting in the queue - however on a reflective note, a lot of people, including myself, have switched banks and are much more money savvy - chosen accounts with better charges and stayed out of charges through having a wake up call. A lot of people will have come to this website after seeing martin on TV and will have learnt new skills and will have read other articles to help them switch utilities etc and save some money.
  All is not lost people! we may have lost this battle but we have won many! I for one dont see my bank as my friend as i used to.
  I see the banks as greedy and think twice before I take out any credit.
• Guy: You link points to the British Gas article.
  Sorted.
• Oh, knackers.
• Just goes to show, the real people of this country don't count for anything we ghet done over time after time, and here is another case, we the people show decide the laws of the land, but no a few people with to much money decide for the few, as long as they've the big country home and fancy cars etc, the don't care about the working person, who support the country and keep things going,
  when are we going to get a goverment with some back bone, and do what the majority of the country wants,
  what a **** take this all is
• This just sends a message to all british companys to say that its ok to screw about consumers as and when you like. We have no protection.
  The very fact that this is a tax on the poor, makes this all the more sick.
• Truly, truly shocking news! Is there any manouevering room left for the OFT and us poor souls? European court maybe? The law in this country is truly mind boggling!
• https://news.bbc.co.uk/1/hi/business/8376906.stm
  A Supreme Court judgement has struck a major blow to the hopes of millions of bank customers seeking billions of pounds of overdraft charge refunds. The court has overturned earlier court rulings that allowed the Office of Fair Trading to investigate the fairness of charges for unauthorised overdrafts.
  The decision follows more than two years of test case litigation.
  At stake is an estimated Ј2.6bn of annual income for the banks, which had appealed against earlier rulings.
  Seven banks and one building society wanted the court to overturn two previous rulings that would let the OFT investigate their overdraft fees.
  In a three-day appeal in the House of Lords in June, the banks argued they would receive a "deluge of litigation" if the decision was made against them.
  Historic claims
  All new claims against banks were effectively suspended in July 2007 when the OFT and the banks agreed to stage the test case to see if the overdraft charges were legal or not.
  The OFT has previously said that even if it lost, it would still try to use other powers, perhaps by instigating a full competition commission enquiry, to attack overdraft fees.
  The Supreme Court's president Lord Phillips said that bank customers agreed to pay overdraft charges as part of the price of having a current account, so they fell outside the scope of the appropriate regulations.
  But Lord Phillips added that this was not the end of the matter as the OFT could still try to scrutinise bank charges under other parts of the regulations.
  "This will not close the door on the OFT's investigations and may well not resolve the myriad cases that are currently stayed [put on hold] in which customers have challenged the relevant charges," he told the court.
• Supreme court judgement link
  https://www.supremecourt.gov.uk/docs/...judgmentV2.pdf
  (Too lengthy to copy)
  Press release from Supreme Court
  https://www.supremecourt.gov.uk/docs/...09_0070_ps.pdf
  PRESS SUMMARY
  Office of Fair Trading (Respondents) v Abbey National plc & others (Appellants) [2009]
  UKSC 6
  On appeal from the Court of Appeal (Civil Division) [2009] EWCA Civ 116
• WTF! This is a disgrace!
• I went to court after refusing the offer from Barclay's Bank and lost.
  Can I still reclaim the amount they initially offered me?
  The Barclay's solicitor said to me, in court, don't worry you will get something back.
• I can't believe this! The bank charges don't have to be fair??? WHY NOT?????!!!!!!!
  Can we not, as consumers and citizens of the UK, petition together to the courts about this? I know it's already been to the court but their answer is unacceptable, not to mention irresponsible!
  Will we now see an increase in fees? Will they introduce new charges left, right and centre? After all, they don't have to be fair so they can do what they like.
  And people wonder why I left the UK.....
• Shocked and disgusted about this, can't get my head around it.
  After going through the courts earlier in the year for something totally different, and seeing how honest people get treated, I should have seen then that the law in this country is a complete and total !!!!.
• Unbelievable.
• I am so upset :-( I needed that money ( as im sure you all did) this is completely unfair.
  Im so shocked!
• Is ANYONE really surprised?
  It's just a shame NO lessons have been learned here. They banks screw themselves and get bailed out, they are still in the mire as we learned the other day, essentially bankrupt.
  They still don't get the need for change and in their desperation to claw back money so they can badly invest without challenge they change their terms to screw the customer over and get as much as they can as quickly as they can.
  Then this judgement, which if it had gone the other way would just have bankrupted them again. So hardly a surprise.
  My only small hope is when they are split...which I fear will not go ahead...and I doubt it will if there is a change of government because they will cave in, as this is what happens when you change to a new set of dummies no matter what party is involved....but if it does then maybe competition might help but I am grasping at straws.
  We just have to suck it in as realise we are going to be screwed until we are all dead and that is just the way it is.
  The big boys play with our money as if it were worthless, they never pay the consequences, we do. They just keep having the fun and the bonuses and the big cars while we all starve, get depressed and end up ill and hooked on tranqulisers.
  Enjoy your lives!
• they're saying it cannot be referred to the European Court of Appeal.
• This is an outrage!!!! we are in a recession and they want us to spend ?? then give us back our money!!!
  the judge must of got A VERY GOOD BACK HANDER!!!
  i have a case on hold with courts what will happen to this ??
  absolute rubbish!! i would like to meet the judge to see exactly how much he got paid to do this!!