CHARGES ON PERSONAL CURRENT ACCOUNTS ARE THE SUBJECT OF A HIGH COURT TEST CASE. THE OFFICE OF FAIR TRADING ARE CURRENTLY INVOLVED IN AN ACTION WITH THE UK'S 8 LARGEST BANKS WHO BETWEEN THEM ACCOUNT FOR MORE THAN 93% OF THE UK CURRENT ACCOUNT MARKET. THE HIGH COURT IS BEING ASKED TO RULE ON THE LEGALITY OF  CHARGES APPLIED TO PERSONAL CURRENT ACCOUNTS. THE CASE IS LISTED TO BE HEARD IN JANUARY 2008. FOR MORE INFORMATION  ON THE TEST CASE CLICK HERE:

http://www.oft.gov.uk

or

Click here to read updates on how the case is progressing

 

Subject to the outcome in the above test case, we can recover returned item (cheque, direct debit, standing order) fees, excess overdraft fees, referral fees, basically any fee that you have been charged by your bank for breaking your terms and conditions.  Watch this space as we will update this site as soon as the outcome is known in the OFT test case.

Examples of how much our clients have recovered against a few High St banks just on personal current accounts in 2007:

HSBC:           £27,487

Lloyds TSB:   £50,517

Abbey:            £29,995

  Business Current Accounts

These are unaffected by The OFT action and we are recovering all penalty charges levied on these accounts with interest every week for more than a year now.  We have recovered money on business accounts from Lloyds TSB*, NatWest, HSBC to name but a few.  Our single biggest recovery to date for one client on one business with one bank is £19,363.

Here is how much some High St banks have paid our clients on just business accounts in 2007.

Lloyds TSB £47,181

NatWest  :   £27,780

  

 01983 873499

JMP Partnership, Thyme House, Lane End Rd, Bembridge, Isle of Wight, PO35 5SU

 *Lloyds TSB, since the 24th April, has stopped settling business account claims, but seeks to have any claims in relation to charges on a business account stayed pending the OFT test case decision.