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Follow on Google News | Reclaim Bank Charges - Test Case updateThis week could see a landmark decision being made based on the outcome of the test case being heard regarding the fairness of bank charges.
By: Bryan Nott, Partner, Simpson Millar LLP The 2nd part of the test case is currently being heard and a decision is expected on Wednesday 25 November 2009. If the decision goes in favour of consumers then the banks could be facing claims from over 8 million customers, however if the ruling goes in favour of the banks then the ability to request refunds of bank charges will be lost. A survey carried out by Which? claims that 63% of people who had been charged by their banks had not yet put in a claim to reclaim their bank charges. There are currently over 1 million bank charge claims on hold pending the outcome of this case. The OFT have stated that if the banks lost the test case they feel it would be unlikely that the banks would be able to appeal the case to Europe unless the Supreme Court refers the proceedings itself. If the ruling goes in favour of the OFT then they will need to decide what level of charges is deemed to be fair – could be subject to legal challenge. Our bank charges team advise all consumers who have been the victim of unfair bank charges to put in their claims regardless of the test case. You have nothing to loose by getting your claim in the queue. We operate all claims on a "no win no fee" basis so even if the decision goes against consumer you will not have to pay us a penny. Give us a call on freephone: 0800 634 0139 or send us an email using our online enquiry form (http://www.simpsonmillar.co.uk/ Useful links: Reclaim bank charges - http://www.simpsonmillar.co.uk/ Financial Hardship Cases - http://www.simpsonmillar.co.uk/ # # # Simpson Millar LLP Solicitors have 8 offices throughout England and Wales and have the strength and depth of expertise (over 150 years) to assist consumers, businesses and trade unions and their members with their legal enquiries. We are accrediated with Investors in People and Lexcel quality standards. End
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