The decision follows more than two years of test case litigation.” from the BBC. I’m sure they have come up with their reasoning for it but to me it smells a little.

It certainly appeared from the outset that consumers rights would be upheld and these were just the hoops the uk legal system had to jump through. But at the end of the day the supreme court upheld the rights of the banks to issue unfair charges to consumers.

I’m not being all conspiracy theory on it all but imagine if out of all the bank accounts in the UK 50% of them had been charged unfairly for going overdrawn? I know for a fact i’m pretty average and have been charged in excess of £300 in charges over the last 6 years. So lets do the maths… 20 million bank accounts x £300 = £6 billion squids as a conservative figure. Who will end up paying that? The banks are already on the edge with a government bailout so will they have the money? No i don’t think so. Is it all a big conspiracy so the government doesn’t have to pay out even more money to out already down banking system? I can’t possibly say but it sure makes you wonder.

Free Agent has many great features but also does a lot of calculation in the backend for VAT returns and such. Without the import of expenses that would mean i would need to also spend time each month entering my expenses twice. Sure i could right an import using their API but do i really need it?

£25/month is a lot too. You’re talking £300 a year on a piece of software designed to compete with the likes of Sage Instant Accounts. Now don’t get me wrong, i’m all for web apps over desktop software but this really is stretching the model. Most web app accounting software either includes a free limited version or is much cheaper. £300/month would buy me a PC and sage so i don’t need to run it on my mac!

The search continues….