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banks can cash in on overdrafts as court rules: carry on charging

Published: 26/11/2009

The Times (Main)

Millions of customers hoping for refunds of unauthorised overdraft charges were disappointed yesterday after a surprise decision in the Supreme Court.
 
Calculations by Moneynet.co.uk, the financial website, suggest that the banks would have had to charge current account customers between £2.50 and £3 a month to replace the lost revenue if the OFT had capped charges at £12, as it has done with credit card fees.

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