Each and every year thousands of customers across Britain are charged billions in excess bank charges and lender fees. These unfair charges may be for missed payments or unplanned overdrafts but can sometimes be as much as £40.00! As a result of these extortionate fees the OFT in 2007 ( Office of Fair Trading ) took legal steps against eight high street banks on the basis that these fees be subject to Fairness rules.

The OFT later won this case in the high court and again in February 2009 in the court of appeal after the banks made an appeal against the judgement of unfair bank charges. Thousands of claims have been lodged against the banks for full repayment of these unfair bank charges and up to £1 billion pounds has been paid back to date. Again unhappy with the decision of the court of appeal and in a bid to stop the inevitable flow of millions of other claims to reclaim bank charges the banks took their case to the supreme court of England and on the morning of the 25th of November 2009 had a shock victory.

This victory has now put on hold all cases for people looking to reclaim charges but there may still be hope for the thousands looking to be refunded on unfair bank charges. Although the Supreme Court said that bank reclaims on overdraft charges could not be investigated by the OFT, it has left the door open to make claims under different regulations. Supreme Court Lord Phillips said "This will not close the door of the OFT’s investigations and may not resolve the myriad cases that are currently stayed in which customers have challenged the relevant charges."

This ruling however has not affected the ability to reclaim unfair charges on
credit cards and PPI.

To find out more on how to reclaim unfair PPI please click here

To find out more on how to reclaim unfair credit card charges please click here.