Michelle Slade, spokesperson for Moneyfacts.co.uk comments: “The shock decision by the Supreme Court is going to leave some consumers even more disillusioned with banks.

“Consumers have seen billions of pounds pumped into a number of banks, but many feel they have seen little benefit.

“It seems surprising that making a £35 charge for in some instances going a few pence overdrawn is not regarded as unfair.

“The consumers that are going to be hardest hit by this ruling are those that are already living on the breadline.

“While consumers may now not be in for bumper payouts, they have at least seen some banks amending their charges to make them more transparent and proportionate.

“Many providers have brought in tiered systems where the penalty fee payable varies depending on the size of the payment value, while others have just reduced the fee payable.

“While the Supreme Court said the Office for Fair Trading (OFT) couldn’t use the consumer protection rules to decide if bank charges are unfair, it did say the OFT could look at other legislation.

“Consumers will be hoping the OFT continues to pursue the case and that it looks down other potential avenues.”

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