Announcement that the appeal by the banks, against the High Court ruling that Office of Fair Trading (OFT) can investigate the fairness of overdraft charges, has been thrown out of the appeal court was made today.

Despite the decision being unamimous and one of the judges even suggested that a further bank appeal would be a waste of time, the British Banking Association said “The banks continue to believe that the Regulations do not apply to these type of charges” and will apply to the House of Lords for permission to appeal again.

This means that although the banks are fast running out of options the waiver delaying the repayment of unfair bank charges remains in place until a final decision is made. The bank charges test case between the OFT and eight banks took place last year and it seems like the banks are going to fight it to the very end. Regardless this is fantastic news and you should ensure your bank charges claim is correctly submitted asap to be first in the queue when the banks are inevitably forced to pay up.