Personally I think it may be a good thing in the long run....they would have ended up clawing the money back in other areas. i.e. charging for using cashpoints.
I am going to be honest and this will probably upset some people but I am glad they have won. I think in reality we all know we accrued these charges most of the time down to not keeping proper tabs on our money - I know I did. The only thing that I did find unfair was the amount of the charges - if it had been £5-10 it would not of been as bad.
At least we will still all have free banking - I was not looking forward to having to pay at least £2.00 per withdrawal which is what would of happened.
Put Vince Cable in charge of the UK's shamed banking system - he would sort it all out to everybodies' advantage, and he's one of the few politicians who doesn't put self interest first !
I have to say that I agree with the others in that I'm glad the banks one as even if it doesn't completely stop us having to pay for banking hopefully it'll delay it for the foreseeable future.
I never had any intention of claiming mine back anyway as I wouldn't have seen a penny of it.
As long as it delays the introduction of any charges for withdrawing money I'm quite happy that they have won.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Can't agree with you there Mel, I am personally in the Billy Connolly camp.
Anyone who wants to be a politician should be automatically barred from being one, don't vote it only encourages them.....
Let professional money people run the economy by all means, regardless of political persuasion, but for Gods sake don't leave it to the politicians because they will always, always, always cock it up big style.
Only my opinion of course....
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
theres been a uproar recently about these american based pay day loan companies charging over %2000 for a short term loan,whats the differance between them and a high street bank charging you a £30 or £40 pound charge for going 1 pence overdrawn.
This is a windswept legal tussle and bad news for consumers when an extra dime or nickel is needed.
Metaphoricaly, [Modern day Robin hood] as OFT looses to the [sheriff of Nottingham],the Banks
Its a Bitter sweet symphony!
The average Bank charge claim is £500! A legal chunder merry go round. A high court Judge rules in favour of OFT and then overruled later on by the Supreme court grandee?? Were they reading the same case?? This battle belies on power and control.And the UK Banks won their independence.
In Europe they would have lost.
Its not sad, but a bitter sweet pill to swallow when £10 these days to joe public means more than £10 in yesterday years.
Banks will now be nore nauseous to any cliam request.
Last edited by nomoremoney on Thu Nov 26, 2009 3:52 pm, edited 1 time in total.
