Bank charges court result date has been set

The Supreme Court has announced its judgement on the Bank Charges test case will be given at 9.45am at its Parliament Square HQ, London, next Wednesday 25 November 2009.

Martin Lewis, creator of MoneySavingExpert.com, where 6.25 million template letters have been downloaded, says: "After nearly two and a half years, it looks like we're about to get a firm result.   The High Court and Court of Appeal have ruled and it's to be hoped the Supreme Court continues to stick up for the million plus people with reclaims on hold and follows their ruling.

"However do remember this case decides whether fairness rules apply to bank charges, not whether they're actually are unfair.  That's for the Office of Fair Trading to do and it has already provisionally said it thinks they are.   Yet there's currently nothing stopping the banks challenging that in court and dragging the whole thing on for years more.

"The real hope of a quick solution is for political intervention after this result, to get a negotiated settlement. I've had letters from Messrs Brown, Cameron and Clegg all effectively committing to a speedy resolution and MoneySavingExpert.com, with its 8 million users a month will try and ensure they stick to their promise."