Qualified advisers answering your
Financial Questions
call 0800 092 1245

Judge to give verdict in bank charges case

The High Court will today decide whether banks can continue imposing unauthorised overdraft charges. Mr Justice Smith will rule on a test case brought by the Office of Fair Trading (OFT) against seven UK banks and one building society. Should he find in favour of the OFT it would clear the way for it to launch a second investigation to determine whether the charges are unfair according to the terms of the 1999 Unfair Terms in Consumer Contracts Regulations. However, a ruling in favour of the banks would effectively allow them to continue to charge the fees when customers go overdrawn of a cheque bounces. Which? personal finance campaigns manager Doug Taylor said: "Today is a massive day for millions of consumers as well as the UK’s high street banks."If they try to drag the process out any longer they will only be doing more damage to their reputations."An unfavourable decision is expected to be appealed by both parties.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details