Money, Money, Money

Categories: uncategorized

Date: 24 April 2008 12:22:52

Kerensa,

You are correct about the diagnosis for Aids but it was not until 1984 that the US government confirmed that there was an HIV virus.

Today is a good day for overdrawn people everywhere. The High Court have ruled that the Office of Fair Trading (OFT) have the rate to pass judgement on the overdraft fees levied by our banks and building socities. The banks now have to decide if they want to appeal the ruling, they have until 22nd May.

What this means is that the OFT can decree that the charges made are in excess of what they should be. The bank have a duty to levy a rate that is equivalent to the cost of the overdraft, including letters etc. As a letter costs the bank £5.00 then the additional amount levied is a lot higher than it should be.

Don't expect to see a cheque falling through your door anytime soon. If the banks appeal then we'll have to wait. In addition there are expected to be several more High Court hearings to decide things. To give you an idea of the stakes here - the banks are estimated to make £3.5 billion per year in these charges - these go directly onto their bottom line. That's a lot of money to give up and they won't do it willingly.

This ruling could also bring an end to free banking deals. We could all face fees for the pleasure of holding a current account with the bank.

If you think that you could claim then you need to do something now. There is a 6 year cut-off for claims made, that means that any claims made now we only go back to April/May 2002. All you need to do is get your bank to give you copy statements for the past 6 years. Tot up your fees and write to them asking for a refund. You base a reasonable fee as being £12.00 and claim the balance.

Don't fall for the companies that offer to this for you. They'll take 25% of what you are due as their fee. It is easy enough to do yourself.

History Today:

1915 : The genocide that did not happen, begins in Armenia. Turkish troops deport and murder Armenians for being "pro-Russian". Turkey still denies that this ever took place.

1916 : The Easter Uprising begins in Dublin. Irish nationalists barricade themselves into the Post Office and begin stealing Easter Eggs as a protest against British "occupation". This has nothing to do with the celebration of Jesus' Resurrection - that's a different kind of Uprising.

1942 : The Germans begin their famous "Baedeker raids" on British cultural targets. They bomb Exeter, Bath, York, Norwich and............. Hull!!!!! The raids are named after the guide books used by the Lutwaffe to plan the raids.