High street banks have won their appeal over unauthorised overdraft charges.

The Supreme Court today ruled in favour of the seven major banks and a building society, which had challenged High Court and Court of Appeal decisions that the charges come under “unfair contract” rules and are therefore subject to regulation by the Office of Fair Trading.

The result was awaited by tens of thousands of customers whose refund claims have been frozen while the test case went through the courts.

The Argus helped people in Sussex making claims with its Beat the Banks campaign.

If the financial institutions has lost the case they could have been forced to pay out up to £20 billion.

Have you been hit by excessive overdraft charges? Let us know below.