Astonishing victory for the banks today against all the odds.
If there is a plus side, there must now be a future for free banking continuing for personal customers, at least in some form or other. After all, an OFT victory would surely have marked the death knell for free banking.
What hope now for those waiting for bank charge refunds? Well the OFT did say they'd look at using other powers, including a full competition enquiry - I'm not holding my breath.
Worth noting that small businesses were excluded from the original test case as well on the grounds that such charges were payment for a service, rather than a penalty.