Thoughts anyone....freeze by oft case bank charges outcome?

[Jase1982]

Hi,

 

I am sure by now that many people have received a response from their bank outlining their position regarding the recent developments surrounding reclaiming bank charges?

 

Just a thought, but how can the banks now go to court in order to set a precedent for this situation? To the best of my knowledge, the reclaiming of bank charges has been going on for at least two years, with many many refunds being given.

 

Surely a precedent has already been set by the bank's actions to refund unlawful charges? The action they have taken thus far, is in my eyes, is already an admission of guilt on their part.

 

I'd be interested to hear some other opinnions surrounding this, as I am considering pressing Smile for a refund, even after receiving the 'sod off' letter that seems to be the same as the one my brother has received from Barclays....

[buzby]

They have mostly settled out of court to avoid setting any precedent. They also did so without any liability. There have been recent cases where the banks have actually won - but in England & Wales at least, the OFT action appears to have stopped everything.

[Jase1982]

hmmmmm, ok, does the fact they have settled out of court not signify an admission of guilt though? why pay back all that money if all along you are completely innocent?

[Binker]

Hi,

 

Our bank settled before a court date with the full amount in January this year, however we received a letter this week saying that although they wrote to us with a final responce, they consider that our complaint remains unsolved. :confused:

They say they are now waiting to see the outcome of the test case to see how to progress.

 

What that means i don't know, they offered to settle out of court so they can't take that back from us now (hopefully:rolleyes: )

 

I think they have sent the letter by mistake, thats what i'm hoping anyway.

 

 

Binker

[Jase1982]

well, I intend to plow on as intended becuase I don't see how, after so many years of basically admitting liability, the banks can now set a precedent??

 

I think the courts will in the end side with the banks though.....just a hunch I have....

[buzby]

hmmmmm, ok, does the fact they have settled out of court not signify an admission of guilt though? why pay back all that money if all along you are completely innocent?

 

Not in the slightest, I'm afraid. All these settlements are made are without any admission of liability and often include 'confidential disclosure' terms as part of agreeing the settlement. Of course, to force the issue you could insist in ensuring lots of courts create rulings against the banks, but they haven't. They'll say they are paying it back simply because it will cost them more to defend the action than if it just 'went away'.

[buzby]

well, I intend to plow on as intended becuase I don't see how, after so many years of basically admitting liability, the banks can now set a precedent??

 

I think the courts will in the end side with the banks though.....just a hunch I have....

 

You old cynic you, however you may find you'll be short-stopped by OFTs 'super complaint' action. You might find it worthwhile to go to the court and discuss it with them, because if there's a stay of these actions, getting a refund on costs may be difficult.

[Jase1982]

bugger, thanks for the incite.

 

I am still going to "screw" Smile over, even without claiming the unlawful charges back.

 

They jumped the gun by sending me back a list of charges incurred on my account and by attaching the cheque I sent them.

 

I intend to send them another letter reminding them of my request for STATEMENTS and not a list of charges, and providing them with the remaining time they have to fulfil their obligation...

[cherylc1107]

Ive Also Had That Letter Which Stated They May Take Months To Get Back To Me Regards To My Complaint. My Complaint Stated Last Year And Its Been Ongoing Since.

 

Do You Think We Should Wait Or Send Another Letter And Now Is There Any Chance Of A Refund?

[gyzmo]

The OFT has allowed banks to defer any complaints until the case is settled. Sending a letter in now may not get you anywhere, and as far as I am aware, courts are not hearing cases of thi nature until a decision is made.

 

I would not sit on the edge of your seat - appeals and judicial reviews are likely to follow. Someone somewhere won't be happy with the ultimate outcome. If the banks ultimately win, the consumer loses. If the banks lose, they will simlpy put costs elsewhere to make up the money.