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    Victory for OFT.....Court Decides Bank Charges Unfair

    Breaking news on Sky News

    31 Comments

    Original Poster

    Link ]here

    get in there!

    also here:

    news.bbc.co.uk/1/h…stm

    On another note..... doesnt that guy in the picture look like an older version of Timmy Mallet?

    well I will cash in soon my £2000 ...

    Woop Woop Woop!

    GIRFUY!

    :thumbsup: I'm gonna contact my bank for my last 6 years of statements so i can work out how much they need to give me back

    I had my claim going through when everything went on hold, so I will now recontact my bank and give them the opportunity to pay up!

    cheerleader;1957636

    :thumbsup: I'm gonna contact my bank for my last 6 years of statements so … :thumbsup: I'm gonna contact my bank for my last 6 years of statements so i can work out how much they need to give me back



    they'll charge you for that..... if you have online banking then you may well be able to download them from there, I know you can do with nationwide.

    I understand why you're all happy with the decision but unfortunately you're all being very shorted sighted with this victory, as overall, we'll all lose out, rather than just the people that don't keep close tabs on there finances.

    Yes, it was unfair that banks grossly overcharged but I feel banks punished there customers that wasn't in control of there finances and rewarded the people that were.
    Do you honestly think that banks aren't a business?
    They charged these fees and offered a great free service in practically everything else, such as online banking, free 24/7 phone support and 24/7 cash withdrawals from cashpoints etc, which all cost and now we're all going to have to pay every time we use these services.

    Banks obviously assumed that these overdraft fees would cover there costs and for years, gave us free services but they didn't expect to pay the money back, so now they need to make up for all the money they've lost by providing us with all those free services.

    Don't forget that there are banks on the verge of bankrupcy but the Government are trying desperately not to let that happen, so they're ploughing billions of tax money (which comes from all of us, so expect taxes to increase even further in the near future) to give banks that dire need of cash injection but with the reversal of these fees, I promise we'll all pay it back and with the country so close to recession, this will be a disaster.

    Please make the cheque for £10 payable to the bank/building society or credit card that you are claiming from. If you don't have a cheque book, you can send a postal order instead.


    Hi guys, in most cases the initial letter you will have to send to your bank will be a Data Protection Act Request. This will allow you to obtain 6 years of previous statements for a fee depending on each bank. They have 40 days to send you this data.The relevant addresses are all here:

    Abbey;

    Data Protection Manager
    Data Protection Team
    Regulatory Compliance
    Abbey House
    201 Graftons Gate East
    Milton Keynes
    MK9 1AN

    Alliance & Leicester;

    Customer Contact Centre
    Bootle
    Merseyside
    GIR 0AA

    American Express Services LTD
    PO Box 68
    Brighton
    BN2 1YL

    Bank of Scotland aka HBOS

    Date Protection Manager
    Trinity Road
    Halifax
    West Yorkshire
    HX1 2RG

    **post code changed 9/5/07

    Barclays Bank;

    Barclays Data Protection
    Radbroke Hall
    Knutsford
    Cheshire
    WA16 9EU

    Barclaycard

    Data Protection Team
    Dept LRC
    Barclaycard
    Northampton
    NN4 7SG

    Bradford & Bingley

    Bradford & Bingley
    Data Protection Team H18
    PO Box 88
    Croft Road
    Crossflatts
    Bingley
    West Yorkshire
    BD16 2UA

    Cahoot

    Friars House,
    Manor House Drive,
    Coventry,
    CV1 2TE

    Capital One;

    Legal Compliance Specialist
    Capital One Bank (Europe) plc
    Trent House
    Station street
    Nottingham
    NG2 3HX

    CitiCards;

    Richard Cooke
    Data Protection Officer
    Citi Cards
    CitiFinancial Europe plc
    1 Exchange Quay
    Salford
    Manchester
    M5 3EA

    Clydesdale Bank

    Clydesdale Bank Customer Relations
    20 Waterloo Street
    Glasgow
    G2 6DB

    Cooperative Bank;

    THE COOPERATIVE BANK PLC
    LEVEL 2
    DELF HOUSE
    SOUTHWAY
    SKELMERSDALE
    LANCS
    WN8 6NY

    Egg

    Jenny Gordon
    Data Protection Manager
    Egg PLC
    1 Waterhouse Square
    138 – 142 Holborn
    London
    EC1N 2NA

    GE Money/Finance

    Sarah Wainwright
    Data Protection Administration
    GE Money
    PO Box 700
    Leeds
    LS99 2BD

    Halifax Bank

    Date Protection Manager
    Trinity Road
    Halifax
    West Yorkshire
    HX1 2RG

    **post code changed 9/5/07

    Halifax CREDIT CARDS

    FAO Data Protection Officer
    Halifax Card Services
    Pitreavie Business Park
    Dunfermline
    Fife
    KY99 4BS

    HSBC Bank;

    FAO Data Protection Controller
    8 Canada Square
    London,
    E14 5HQ

    Lloyds Bank;

    Swallow House
    10 Swallow Street
    Birmingham
    B1 2AL

    Marbles

    FAO Data Protection Officer
    120 Edmund Street
    Birmingham
    B3 2QZ

    MBNA;

    M B N A EUROPE BANK LTD
    STANSFIELD HOUSE
    CHESTER BUSINESS PARK
    CHESTER
    CHESHIRE
    CH4 9QQ

    Monument Credit Card Services
    Barclaycard
    The Portland Building
    25 High Street
    CRAWLEY
    RH10 1BG

    Natwest;

    Retail Regulatory Risk
    2nd Floor
    Cornerstone
    60 South Gyle Crescent
    Edinburgh
    EH12 9WF

    Above changed 15/04/07

    Nationwide;

    Data Protection Team,
    Nationwide Building Society
    Kings Park road,
    Moulton Park
    Northampton
    NN3 6NW

    Royal Bank of Scotland;

    Data Protection Team
    36 St Andrews Square
    Edinburgh
    EH2 2YB

    Tesco Credit Card

    PO Box 6050
    Southend-on-Sea
    SS99 1WL

    Woolwich Openplan Customer Contact Centre
    Jackson House
    Jackson Road
    Clacton On Sea
    Essex
    CO15 1WH

    Yorkshire Bank;

    Yorkshire Bank plc
    c/o Clydesdale Bank Customer Relations
    20 Waterloo Street
    Glasgow
    G2 6DB

    Banned

    Wow, you can tell this headline is from Sky news :w00t:

    Court Decides Bank Charges Unfair



    Er, sorry but they didn't do that at all. The case wasn't even to decide if they were unfair!

    i thought the case was to decide whether you could decide if the charges were fair or not

    well banks make money with or money ...you think or money is then keep in the safe till we decide to have back?? they are not saints!!!
    FAT CATS

    Banned

    guerilla;1957711

    i thought the case was to decide whether you could decide if the charges … i thought the case was to decide whether you could decide if the charges were fair or not



    from the bbc

    A judge has decided that the Office of Fair Trading (OFT) can apply … A judge has decided that the Office of Fair Trading (OFT) can apply consumer contract regulations to decide if bank overdraft charges are fair or not



    Mr Justice Andrew Smith said: "This does not necessarily mean they [the … Mr Justice Andrew Smith said: "This does not necessarily mean they [the charges] are unfair.

    & So Be It !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Get 'ya Money Back Time Folks ..... Go For It :):)

    [COLOR="Red"]CAN BE CLAIMED[/COLOR]

    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
    Late payment fee (credit cards, store cards, catalogues etc)
    Exceeding Authorised Overdraft Limit
    Exceeding Unauthorised Overdraft Limit
    Direct Debit/Standing Order/Cheque returned fee
    Irregular fee
    Paid refferal fee
    Total charges (HSBC personal accounts only, not business accounts)

    [COLOR="red"]CANNOT BE CLAIMED[/COLOR]

    Cash Machine Withdrawl Fees
    Account Service Charges
    Service Fee / Annual Fee
    Charges related to foreign currency transactions and conversions.
    Monthly account fees on certain type of accounts.
    Normal overdraft interest charges

    @colin does that mean my understanding is right or wrong?

    This case has decided nothing of the kind. All it does is give the OFT the right to apply consumer law. There is no indication whatsoever that the charges are considered unfair.

    colinsunderland;1957704

    Wow, you can tell this headline is from Sky news :w00t:Er, sorry but they … Wow, you can tell this headline is from Sky news :w00t:Er, sorry but they didn't do that at all. The case wasn't even to decide if they were unfair!



    what was it then?

    realfriendlyman;1957687

    I understand why you're all happy with the decision but unfortunately … I understand why you're all happy with the decision but unfortunately you're all being very shorted sighted with this victory, as overall, we'll all lose out, rather than just the people that don't keep close tabs on there finances.Yes, it was unfair that banks grossly overcharged but I feel banks punished there customers that wasn't in control of there finances and rewarded the people that were.Do you honestly think that banks aren't a business? They charged these fees and offered a great free service in practically everything else, such as online banking, free 24/7 phone support and 24/7 cash withdrawals from cashpoints etc, which all cost and now we're all going to have to pay every time we use these services.Banks obviously assumed that these overdraft fees would cover there costs and for years, gave us free services but they didn't expect to pay the money back, so now they need to make up for all the money they've lost by providing us with all those free services.Don't forget that there are banks on the verge of bankrupcy but the Government are trying desperately not to let that happen, so they're ploughing billions of tax money (which comes from all of us, so expect taxes to increase even further in the near future) to give banks that dire need of cash injection but with the reversal of these fees, I promise we'll all pay it back and with the country so close to recession, this will be a disaster.


    I can see what you're saying........but......how much have these banks saved from 'streamlining'(job losses in our language!)....my guess is a heck of a lot more than the costs of free online banking,cash machines etc.

    And I also doubt that some banks are on the verge of bankruptcy because of some customers going overdrawn.....more likely through greed of investing our money on higher risk investments.

    These banks are not poor and the charges are extortionate.......they happily put people in a position of being more in debt than they currently are(and that can be for many reasons) by adding several hundred £s of charges on an already depleted account!

    Is it worth sending the letter off, if you're bank charges in total are less then £100?

    Don't spend what you haven't got.


    If the day comes when the banks are not allowed to charge, they will simply revert to the old days and close your account ( you will not be able to get another one elsewhere ) and call in the Bailiffs. Either way you lose.

    Live within your means, not within your dreams. Prison is where you would have been not that long ago.

    Banned

    MinstrelMan;1957762

    what was it then?



    read the bbc news report.
    Its a bit more complicated than that, but basically this case was never to decide if the charges were unfair or not. It was to decide if contract law could be applied to bank charges by the OFT, and while this is a big step in the fight against them, it doesn't change anything.

    I understand people's frustration if they have managed their finances well, but as a student I find it very difficult to keep my head above water and will be pursuing my claim with vigour now.

    As far as the banks no longer offering "free" banking: this is a possibility, however they still manage to make money from our money, imagine if everyone decided that they would deposit their cash in a safe at their house or in a credit union instead of a standard "bank" then the banks would be in real trouble.

    colinsunderland;1957812

    read the bbc news report.Its a bit more complicated than that, but … read the bbc news report.Its a bit more complicated than that, but basically this case was never to decide if the charges were unfair or not. It was to decide if contract law could be applied to bank charges by the OFT, and while this is a big step in the fight against them, it doesn't change anything.



    I think it does change things, however not as much as people would like to believe.

    The onus is now on the OFT to declare bank charges "unfair and excessive", which hopefully they will do, this means that providing the courts uphold this decision by the OFT people should find reclaiming easier.

    I used to find it very hard to manage my finances - I had a mortgage and bills etc at 18 and was forever being charged, then charged because a charge had taken me over an overdraft limit etc etc - once it was £25 that cost me £180 (I got back £80) This is a step in the right direction but I'm under no illusion that we will pay for it some other way... I'd still like my money back!

    Poor banks - need to be bailed out £billions and give money back... I feel so sorry for them...

    /sarcasm

    Just went throught my statements, and written the letter. Fingers crossed!

    [COLOR="Red"]Is this the end of free banking? [/COLOR]

    No. We don’t have free banking in the UK anyway. We have 'fees-free' banking for the in-credit; ask most people with overdrafts if their bank is free. The current account market is hugely competitive, two banks offer 0% overdrafts, two pay more than 8% in-credit interest. They're all desperate for business and any bank that levies charges will haemorrhage customers.

    And let's put this in perspective, while it's big money for reclaimers, for the banks it’s a fraction of their £bns of write-offs due to the credit crunch. The Bank of England has just pumped £50bn in there. If they do start blaming bank charges for any new nasty fees, it lets them off the hook for their own credit management, don’t believe their spin.

    Martin Lewis

    KDH001;1957799

    Don't spend what you haven't got.If the day comes when the banks are not … Don't spend what you haven't got.If the day comes when the banks are not allowed to charge, they will simply revert to the old days and close your account ( you will not be able to get another one elsewhere ) and call in the Bailiffs. Either way you lose.Live within your means, not within your dreams. Prison is where you would have been not that long ago.



    I was once over charged by Marshall Ward with an order that had a voucher from here, Halifax point blank refused to drop their charge of paid item and going over. £70 charge for the sake of £10 I agree there should be charges but £5-£10 is fair.

    Is this the end of free banking?

    No. We don’t have free banking in the UK anyway. We have 'fees-free' banking for the in-credit; ask most people with overdrafts if their bank is free. The current account market is hugely competitive, two banks offer 0% overdrafts, two pay more than 8% in-credit interest. They're all desperate for business and any bank that levies charges will haemorrhage customers.

    And let's put this in perspective, while it's big money for reclaimers, for the banks it’s a fraction of their £bns of write-offs due to the credit crunch. The Bank of England has just pumped £50bn in there. If they do start blaming bank charges for any new nasty fees, it lets them off the hook for their own credit management, don’t believe their spin.

    Martin Lewis
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