After months of claim and counter claim and enough paper work to account for a whole rain forest, the legal challenge over bank charges finally hits the courts today. I must admit, charging £35 for a bounced Direct Debit totalling £5 is ludicrous and nothing short of legalised robbery. Hopefully however, after this case is judged, it will be illegal robbery!
Banks make billions of pounds in profits every year, and have had it easy for to long. The first stage of the challenge involves establishing legally that charges are not in fact a service, the second that they are disproportionate. The battle lies with the second argument, not the first.
The irony of the affair is that the only winners so far are the lawyers, an institution who charge thousands for what in many cases is a poor service.
Just a minute, I thought that’s why the banks were in court?