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HomeColumnsScots judge revives bank charge claims
Columns

Scots judge revives bank charge claims

February 23, 2010

Lindsey Rogerson

Anyone who has been sent a letter by their bank since last November’s Supreme Court ruling on bank charges saying – and I paraphrase – “We won and you are not getting a penny” may be interested in a ruling made by a Scottish judge last Friday.
He blocked an attempt by Bank of Scotland to have an amended claim by one of its customers thrown out and has given Bank of Scotland – now subsumed into Lloyds TSB (which we all own around half of thanks to the taxpayer bailout) – until June to produce evidence that its unauthorised borrowing charges were not excessive.
For those of you thinking that this is the same thing the Supreme Court has already ruled on, it isn’t. What this customer is claiming is that her bank charges not only covered the cost of her borrowing but were also used by the banks to subsidise “free banking” for customers who kept in the black. Something it neglected to make clear to her when she opened her account.
It will be interesting to see what defence Bank of Scotland comes up with especially in light of the findings (which I have mentioned before) of the OFT’s market study which found that the banks were collectively using around 40% of their customers to subsidise the other 60%).
I’m half tempted to turn up in Court in June to hear what Bank of Scotland has to say in person.

3 Responses to “Scots judge revives bank charge claims”

  1. Jane says:
    March 2, 2010 at 9:03 am

    My son was ‘sold’ a platinum account with Lloyds TSB despite being unemplyed and on job seekers allwoance! How is this ethical. He wasn’t aware of what they were sellinghim, just the ‘benefits’ he thought he was getting and not that he was paying £17.40 a month for things he would never, in his current state of unemployment, use, for example world travel insurance. To my mind this was hardly short of misinterpretation to him and for that alone they should be held to account never mind the fact that on £64 a week he can in no way afford the monthly charges so of course he’s awlawys overdrawn and charged sometimes £69 for the privilege! How does he go about getting back some of the £2000+ in charges that he’s incurred and do something about getting compensation for the mis-selling of his account?

    Reply
    • Jasmine Birtles says:
      March 3, 2010 at 1:04 pm

      That’s shocking. I think that he (with your help perhaps) should write to the customer complaints department at the bank itemising the various things they did to mis-sell the product. The bank itself needs to have the chance to deal with this complaint in the first instance. However, if they are unhelpful you should go straight to the Financial Ombudsman service, write a detailed letter to them and get them to investigate it. Go to http://www.financial-ombudsman.org.uk/contact/index.html for their contact details and also for contact details for the complaints department at Lloyds TSB. I agree, you should get compensation for mis-selling and make sure that you put it in this way – your son has been mis-sold.

      Reply
      • lorraine says:
        March 7, 2010 at 9:48 pm

        I work for a bank myself and this is a clear case of mis-selling. go back to the bank and make a complaint.

        Reply

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