The court decided to overturn their original decision that would allow the Office of Fait Trading to look into just how fair the charges were.
This could lead to an estimated £2.6Billion of annual income being kept for the banks and a lot of bank customers feeling extremely aggrieved.
No major market movements have been seen following the decision but in my opinion had this gone the other way it could have been absolutely terrible for the banking sector in the U.K and may have not instantly moved the markets but would of bought further problems down the line so this is good news for those with upcoming transfers for Sterling to another currency.
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I assist thousands of clients to send money overseas or receive money from overseas involving the following currencies - Please note I do not deal with cash it is bank to bank only!! AED AUD BHD CAD CHF CZK DKK EUR GBP HKD HUF INR ILS JPY KES KWD MAD MUR MXN NOK NZD OMR PLN SAR SEK SGD THB TRY USD ZAR
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Daniel Wright
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