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  #1  
Old 26-02-2009, 10:26 AM
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Default Test Case Appeal Judgment

Courtesy of Legal Bealges:

Quote:
1st Update

OFT have Won

Banks have been refused leave to appeal.

The banks can apply direct to the House of Lords for an Appeal though.

If House of Lords refuse leave to appeal, then all stays will be lifted and it won't hold up the Issue of fairness being assesesd.
Judge has recomended that stays remain to avoid clogging up the courts.
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Old 26-02-2009, 11:04 AM
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So it continues, but we have waitied this long, will the banks take to the HoL? Guess they will they have a lot to lose.
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Old 26-02-2009, 11:07 AM
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Thanks for that Tanz - I have just seen it on the BBC News. Yes, they will have a lot to lose DL, particularly at the moment.
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Old 26-02-2009, 11:32 AM
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http://news.bbc.co.uk/1/hi/business/7910852.stm
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Old 26-02-2009, 11:35 AM
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From Yahoo news:

"Members of the industry have also warned that losing the case is likely to lead to the end of free banking in the UK, with consumers instead having to pay a monthly fee or a fee for every transaction they carry out."

A charge per transaction?

This could see the return of 'jar under the bed' banking in the uk....
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  #6  
Old 26-02-2009, 11:49 AM
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So what? If you pay a fee for banking, at least you can demand better service. we used to pay 25 cents for every cheque we wrote, but you got the first ten cheques free. You did pay stamp duty on every cheque of 5 cents.

I would rather pay a fee each month than have the c r a p I got from from our former banker here in England.

You also have to remember we are lending them our money while we have credit in our accounts, so they are still making money out of us, which does not get passed back to us.

Yes, I do have a money jar under the bed and I have a prepaid credit card also. It's amazing how the change from my purse accumlates. Not breeding as fast as dust bunnies but it's nice to know I have it.
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Old 26-02-2009, 11:50 AM
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BBA Statement:

Quote:
Statement on Bank Charges Test Case

26/02/2009


The BBA said:


"The court has not said fees are unfair just that they can be looked at to see if they are fair or not. The banks continue to believe that the Regulations do not apply to these type of charges. The banks will apply to the House of Lords for permission to appeal the Court of Appeal's decision. The banks will work with the OFT to ensure the next stages in the test case process are progressed as quickly as possible."
Looks like they will be dragging their heels
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Old 26-02-2009, 01:09 PM
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Quote:
Originally Posted by danson79 View Post
This could see the return of 'jar under the bed' banking in the uk....
I have jars for sale 25.00 each plus postage, packaging, insurance, etc.
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Old 26-02-2009, 01:11 PM
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Perhaps Nattie has some piggy banks he would like to sell
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  #10  
Old 26-02-2009, 01:30 PM
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This is an excerllent decision by the courts and long overdue.

Personally I think it justifies all the hard work that so many of us have done over the last 2-3 years.

As I said in another thread yesterday, consumer power may be slow getting started, but once it does move then there is very little to stop it.
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