As many of you may be aware, the test case for bank charges is being heard by the House of Lords at the moment.

Depending upon the outcome, there is a real possibility of reclaiming bank charges, or a proportion of them, going back 6 years, or possibly longer.

If you wait for the outcome of the case, due October time, then you will be eligible for the difference between the current chages already placed and the OFT determined rate.

If you register your claim now you can calculate back to recover the charges and any interest applied. Remember that if you calculate back then your account will emerge from negative territory and the charges can be reclaimed in full with the interest applied by your bank.

Additionally, you can claim statutory interest of 8% for the period since the charges/ interest were applied.

You will need to file your case before the ruling is announced. It will be stayed, of course, but the interest etc will continue to accrue.

There is a school of thought that any claim may be valid back as far as 1995 when the European UTCCRs were adopted in the UK.

Where else will you get 8% at the moment.

Start claiming

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