Quote:
Originally Posted by Russ B
Read the links - it doesn't mean the charges are unlawful. It just means the Office of Fair Trading can decide for themselves if the charges are illegal.
I reckon they'll come to an agreement where the current charges are dropped to a fixed rate of £10 to £15.
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I think the banks will not want to say exactly how much it costs to produce an overdraft letter. So they will pay out on all charges up till now, reduce the charge to a 'reasonable' level, and then after that they wont have to pay out. I dont think its the future charging levels the banks are worried about, but the huge amounts they have charged in the past.