The Office of Fair Trading announced on the 26 th July 2007 that they are initiating a test case on bank charges that is being referred to the High Court.

The Financial Services Authority (FSA) has now allowed the Banks to issue a waiver on all claims until a court decision is made on the test case. The Ombudsmen has also announced that they are suspending all investigations until an outcome has arrived.

What does this mean for you?

The FSA have given the Banks permission to halt all claims on unfair Bank Charges until the outcome of the test case, this put simply, the Banks do not have to pay any compensation until a decision is made in court, which could be in excess of a year.

Is there any good news?

We are still able to pursue all credit card claims as they have been unaffected by this ruling.

We are still able to log your Bank Charge complaint and perform all the necessary work until a legal decision is made. The Banks are still required to acknowledge all complaints.

All we ask is that you provide us with a £10 cheque made payable to your Bank, in order that we can obtain your statements from the past 6 years. By obtaining your statements at this point we can ensure that your complaint is ready to be implemented if a positive decision is made.

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