Bank charge case ruling nears

The UK's banks could face another eight million claims should the bank charges test case ruling go in favour of the Office of Fair Trading later this week. According to Which?, of around 12 million people that have been hit with bank charges since July 2001, 63% are yet to attempt to claim their money back. In addition, more than a million claims are currently estimated to be on hold. "If the Supreme Court rules against them, the banks could find themselves staring down the barrel at millions of fresh claims," said Which? personal finance campaigner, Phil Jones. "With so much money at stake, the banks may well try to drag the process out even longer, so we'd warn people not to make any plans for their refunded cash just yet."
 
 
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