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Bank charges decision could change the face of banking

24 November 2009 / by Rebecca Sargent

The bank charges decision that is due tomorrow could change the face of banking as we know it.

According to reports in the Daily Mirror, banks are plotting to impose charges on all cash machines, should the Supreme Court rule in favour of the Office of Fair Trading tomorrow.

So far, the banks have managed to delay a decision since the bank charges test case began in 2007, by appealing previous decisions by the High Court and Court of Appeal that have already decided that bank charges can be governed using fairness rules.

However, despite the Supreme Court offering the last chance to appeal, it is expected that the banks will attempt to delay proceedings further. Commenting, Which? personal finance campaigner Phil Jones said:

"With so much money at stake, the banks may well try to drag the process out even longer."

It is estimated that the equivalent of three per cent of the adult population have a bank charges claim on hold, but the number of complaints could increase by eight million if the decision finds in favour of the OFT.

Click to learn more about reclaiming bank charges »

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