Bank charges test case will drag on
July 31, 2007
The ongoing saga of the bank charges test case shows no signs of coming to an end after the Financial Services Authority (FSA) announced they are granting a waiver to banks and building societies handling complaints.
A drawn out case is expected at the Office of Fair Trading High Court.
So if you are planning on reclaiming any unauthorised bank charges, expect a long wait - HSBC have predicted the test case will "go on for more than a year".
Tim Wickham, director of Hall Advisory Services, said customers are being hard done by due to the granting of waivers which means they won’t be able to claim back unauthorised bank charges whilst the test case is in progress.
He said: "We find it quite ill-thought out and absurd that such a waiver would have been granted."
Until clarity is achieved as a result of the test case, the FSA expects firms to keep the customer informed and to carry on dealing with hardship cases.
Written by Peter Kenny · Filed Under News Banking
The “Waiver” is a joke this is a David and Goliath fight the FSA have just smacked David (Consumers)in the mouth told him to shut up and handed the sling shot to Goliath (Banks) and told him to chill out for a while… The fact it was announced on the evening Parliament broke up for there 10 week summer holiday is not a shock either…
Keep up the fight and keep on claiming…
And get your claims in for Payment Protection and Credit Card Charges as they are solid and so far no collusion has taken place!
I am claiming £7,500.00 - 6 years worth of charges and my bank Natwest had until 31st July to make an offer and low and behold it all gets put on hold. I think the banks will win as the bank of England are behind them and then the interest rates will go and its all just in one vicious loop
I dont think the banks would have went to court for test case if they thought they were going to lose
The office of fair trading make me laugh. Was it not them who bought it to the consumers attention that the bank charges were unfair? I can understand a waiver being granted of the case was for say a month, but longer is not fair! And if the high court rules in favour of tthe banks it is also a joke, becasue is it not the high court of fair trading?! And personally I think they should allow anyone who put their claim in before a verdict sir ached should be entitled to their compensation! I think everyone involved in this debacle needs to get a grip!
I am so annoyed by all this messing around! I put a claim in to my bank (Halifax) about 6 months ago, it was getting near the finishing stages and now its been put on hold! I am owed nearly £6000.00, but in the mean time i am still being charged. I am on income support and they take nearly £100.00 from me monthly. Its impossible. I have na overdraft but they let it go overdrawn and i get charged! I dont understand why, if a direct debit or bill, Whatever cannot be met why pay it? Let the companies whose direct debit have failed write to me, not the banks saying we paid your derict debit for you and now were going to charge you £39.00 for it as it went over your limit! aaaaarrrrrggggghhhhhhh!
The results of this test case couldnt come quick enough! HURRY UP!!