The Banks Win...:(

[lilelvis2000]

Just noticed this on the BBC website.

http://news.bbc.co.uk/1/hi/business/8376906.stm

Not good news for some people I know. And Martin Lewis..
http://www.moneysavingexpert.com/new...m/2009/11/test

[Jeebo72]

Good news. If you are going to go over agreed limits why should the bank pay. We've got a good free banking service here so hopefully we won't lose it now.

[Halo Jones]

Are you really surprised? If the banks had to pay out on the claims they would have to go to the Government for more funds & the Gov. do not want that

[bobhope]

Anyone surprised by this? After all, there are bankster bonuses to be paid for.

[Moscow Mule]

"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"

I see it as a very narrow ruling, but then IANAL.

[lilelvis2000]

Good news. If you are going to go over agreed limits why should the bank pay. We've got a good free banking service here so hopefully we won't lose it now.

You mean "free" there don't you? It isn't free...nothing is. And I think the point is not about paying to go over the limit...its about how much you pay.

[stingman123]

This in particular made me laugh that little bit more

"The Court said it would not allow an appeal by the OFT to the European Court of Justice. "

But if the banks had lost the case.......

[lilelvis2000]

This in particular made me laugh that little bit more

"The Court said it would not allow an appeal by the OFT to the European Court of Justice. "

But if the banks had lost the case.......

I've never understood how a court can prevent someone from appealing...but that's another debate.

Yes, I can imagine the intense lobbying to No. 10 could prove fruitful.

[stingman123]

I'm just waiting for the inevitiable " hey what happened to my humans rights?" shout

[lilelvis2000]

I read this quote from Martin Lewis with interest...a bit scary really.

"We are now left in a perverse situation that bank accounts must be fair when in credit, because FSA regulations cover that, but not when overdrawn, so the most dangerous bit of banking is now the one where we have the least rights."