On 26th February 2009 the Court of Appeal upheld the decision of the High Court of 24th April 2008. This was another victory for consumers who wish to recover unfair bank charges.
Bank charges are unfair. Reclaim them now.
The High Court decision in the OFT case against several big name, high street banks was handed down on 24th April 2008. The result? The banks are covered by the same rules as the rest of the financial industry. This leaves the door wide open for you to claim back the charges that the bank have made for unauthorised overdrafts, represented cheques and default direct debit payments over the last 6 years.
If you have ever gone over your limit with your bank with an unauthorised overdraft, the chances are you will have received a letter telling you about it and requesting you to put money into your account to bring it back within limits.
The charges for sending the letter vary but are typically anywhere between £20 to £40. The actual cost to the bank of sending the computer generated letter is nothing like that. One expert has suggested its cost to the bank may be as much as £2.50, but frankly this seems generous to the banks.
By going into an unauthorised overdraft with the bank, you are breaching your agreement with the bank. The law says that the banks should only charge you what your breach of agreement has cost them. In other words, £2.50 maximum - not £20 to £40. The overcharge is illegal and that is why you can reclaim it.
The banks argument before the High Court that the charges they make for unauthorised overdrafts are not covered by the Unfair Terms in Consumer Contracts Regulations failed. They are covered by the rules meaning you can claim.
The OFT commenced a test case against the main high street banks. The reason was that the OFT wanted to rule on whether the charges made by the banks were fair. The banks argued that they were not covered by the Unfair Terms in Consumer Contracts Regulations and that they should not be subject to adjudication of fairness by the OFT.
The court judged that the banks were wrong. They were subject to the rules and the OFT could determine the fairness of the charges.
This is a clear victory for the OFT and consumers.
Fees
In appropriate cases, we are able to deal with your case under a Contingency Fee Agreement.
Contingency Fee Agreements allow us to deal with your case without you making any payment from your own pocket for our legal fees as the case progresses.
In the event that you lose your claim, we will not receive any payment and you will not pay anything.
In the event that you win your claim, we will receive an agreed share of the award that you recover (normally 30% plus VAT).
Contingency Fee Agreements allow you to receive expert advice without the risk of making payment until an award has been recovered on your behalf and are a popular way for clients to pursue this type of claim.
Geographical Coverage
Emmetts Solicitors are able to provide an excellent service to clients in relation to bank charge reclaiming throughout all areas of England and Wales.
2 easy ways to start your claim
1. Provide details online: click here
2. Call 0800 180 4383 now! One of our friendly and helpful staff will take your details and arrange for a partner to call you back at your convenience
Related Pages
I want to challenge a loan or credit card debt
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