In a test case in the High Court today, 8 UK Banks may be deemed to have be charging their customers unfairly.The estimated excessive profiteering by one off charging, mainly for execessive borrowings or overdraft charges, is running at approx £3.5 Billion of clear profits per annum.

The interesting twist is that the people paying these excessive fees are the least able to afford it.

I would guess that the outcome will be damning to the Banks, the charges used to be justifiably applied because the Bank Managers secretary used to have to manually type a letter, if he had to bounce a cheque. Trumpo remembers when he started his career in Banking, manually sifting through the banks cheques in the morning, searching for those that went overdrawn that morning and wouldnt be able to honour the cheque. I then manually passed a cheque to a Manager to decide whether to bounce the cheque or not, we would then maybe ring the customer to ask if he can put some money in to cover the cheque. A £20/£30 charge for this work is justified.

I bet it now costs no more than £1 for the computer to say NO and automatically post a letter.

Trumpo votes ”unfair charging” and feels it should be relative to work carried out.

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