Bank Charges D Day

[GreekStein]

Unfortunately there are many selfish people on here who can't see beyond their own noses

I take offence to this too.

Sometimes unselfish people can't see beyond their own noses too you know.

[Teacake]

In my experience, from 6 to 7 years ago when I was a phone monkey for one of the big 4 banks, the vast majority of customers incurring charges were self inflicted and repeat offenders. Friday & Saturday nights were unreal, the amount of people calling to have their overdraft extended or credit card limit increased, usually from the pub, was crazy. Most people accepted the charges and were well used to it.
Whenever there were customers in genuine difficulties a meeting was arranged with their branch to review their finances.

I would consider the bank to be the most conservative & prudent of all the UK banks and almost certainly a responsible lender whose charges were by no means the worst. I couldn't say the same for some of the others.   

[mondatoo]

Unfortunately there are many selfish people on here who can't see beyond their own noses

I take offence to this too.

Sometimes unselfish people can't see beyond their own noses too you know.

  LOLOL

[StuartHopkin]

In my experience, from 6 to 7 years ago when I was a phone monkey for one of the big 4 banks, the vast majority of customers incurring charges were self inflicted and repeat offenders. Friday & Saturday nights were unreal, the amount of people calling to have their overdraft extended or credit card limit increased, usually from the pub, was crazy. Most people accepted the charges and were well used to it.
Whenever there were customers in genuine difficulties a meeting was arranged with their branch to review their finances.

I would consider the bank to be the most conservative & prudent of all the UK banks and almost certainly a responsible lender whose charges were by no means the worst. I couldn't say the same for some of the others.   

If you worked for HSBC then you may well have spoken to me on a number of occasions!

[henrik777]

http://www.supremecourt.gov.uk/docs/uksc_2009_0070_judgmentV2.pdf

"It is therefore appropriate to spell out at the outset that the Court does not have the task of
deciding whether the system of charging personal current account customers adopted by
United Kingdom banks is fair."

The judgement does contain a reference to a different section of the law and that it is felt the OFT should have used that to bring about the case and still may.

Sandy

[bobAlike]

Unfortunately there are many selfish people on here who can't see beyond their own noses

I take offence to this too.

Sometimes unselfish people can't see beyond their own noses too you know.

No offence meant.

[bobAlike]

Laz I agree with all you say.
Unfortunately there are many selfish people on here
who can't see beyond their own noses who have the attitude of I'm alright screw everybody else.
The world is made up of many types of people and some of these people need help. Is it ok for banks to fuck these people over, because that's exactly what they are doing.

I take offence at this Bob

My main point on this entire thread is that no one was forced to spend money they didnt have.
I did it myself, it was easy, it didnt matter, I didnt really need to keep an eye on my money and at the time i paid my price.

I just find the whole oo oo the banks are screwing us a bit of a joke, maybe its because owning part of a business I am constantly on the end of being screwed by employees and customers I have a different view to things than many.

Just because its different doesnt mean its wrong.

Stu I don't mean to offend anybody.

I'm usually the quiet type who likes browsing this forum but I felt that I needed to speak up about this.

I too am self employed and have been for 20+ years and yes customers and employees are a pain in the arse.

I'm lucky enough not to incurr unecessary charges with my bank by managing my account and finances.

I am also in agreement that there are people who do not help themselves and deserve to get charged penalties. Where we do disagree is the amount of these charges.

A banking facility is and should be a right for all to use. The problem is is that banks abuse this and screw the little man irrespective of previous banking history between the customer and the bank.

Anyway rant over. It'll soon be yesterdays news.

[StuartHopkin]

Laz I agree with all you say.
Unfortunately there are many selfish people on here
who can't see beyond their own noses who have the attitude of I'm alright screw everybody else.
The world is made up of many types of people and some of these people need help. Is it ok for banks to fuck these people over, because that's exactly what they are doing.

I take offence at this Bob

My main point on this entire thread is that no one was forced to spend money they didnt have.
I did it myself, it was easy, it didnt matter, I didnt really need to keep an eye on my money and at the time i paid my price.

I just find the whole oo oo the banks are screwing us a bit of a joke, maybe its because owning part of a business I am constantly on the end of being screwed by employees and customers I have a different view to things than many.

Just because its different doesnt mean its wrong.

Stu I don't mean to offend anybody.

I'm usually the quiet type who likes browsing this forum but I felt that I needed to speak up about this.

I too am self employed and have been for 20+ years and yes customers and employees are a pain in the arse.

I'm lucky enough not to incurr unecessary charges with my bank by managing my account and finances.

I am also in agreement that there are people who do not help themselves and deserve to get charged penalties. Where we do disagree is the amount of these charges.

A banking facility is and should be a right for all to use. The problem is is that banks abuse this and screw the little man irrespective of previous banking history between the customer and the bank.

Anyway rant over. It'll soon be yesterdays news.

No problems Bob, I know how some of my posts come across.

I do agree about the repeat charges caused by charges.

Maybe I'm a little biased because I have never been anything but happy with HSBC.

[George2Loose]

Banks weren't gonna lose this imo just because of the current climate. Would have knocked them for 6 had the charges issue gone in favour of the customer

[henrik777]

Banks weren't gonna lose this imo just because of the current climate. Would have knocked them for 6 had the charges issue gone in favour of the customer

But the Supreme court has helped claims against the banks.

Sandy

[George2Loose]

Banks weren't gonna lose this imo just because of the current climate. Would have knocked them for 6 had the charges issue gone in favour of the customer

But the Supreme court has helped claims against the banks.

Sandy

Clearly these charges are excessive. I personally believe some sort of political influence has been used to rule in favour of the banking industry.

[henrik777]

It's far from the success for the banks that is being reported.

Lady Hale even suggests that there is a cartel going on that perhaps should be investigated

 "Or is the real problem that we do not have a real choice because the
suppliers all offer much the same product and do not compete on some of their terms?
This is the situation here. But it is not clear to me whether the proper solution is to find
some way of forcing the suppliers to compete with one another in the terms they offer or
whether the solution is to condemn one particular model of charging for those services.
Fortunately, however, that is for Parliament and not for this Court."

Also check paragraph 80 to see what part of consumer law to use when claiming back charges.

Sandy

[sovietsong]

In my experience, from 6 to 7 years ago when I was a phone monkey for one of the big 4 banks, the vast majority of customers incurring charges were self inflicted and repeat offenders. Friday & Saturday nights were unreal, the amount of people calling to have their overdraft extended or credit card limit increased, usually from the pub, was crazy. Most people accepted the charges and were well used to it.
Whenever there were customers in genuine difficulties a meeting was arranged with their branch to review their finances.

I would consider the bank to be the most conservative & prudent of all the UK banks and almost certainly a responsible lender whose charges were by no means the worst. I couldn't say the same for some of the others.   

great post

[henrik777]

http://blogs.birminghampost.net/business/2009/11/bank-charges-case-the-devils-i.html

http://blogs.birminghampost.net/business/2009/11/bank-charges-case-the-devils-i-1.html

Sandy

[G1BTW]

Edit: the following post has been edited to subtly disguise signs of bitchy whining

http://www.moneysavingexpert.com/news/reclaim/2009/11/bank-charges-the-phoenix-from-the-flames

New opportunity

However, the OFT now has the option to relaunch a challenge on different grounds. The Supreme Court has even suggested it uses grounds under Regulation 5, was part of its original argument before the case got to the UK's highest court.

That states the level of fees has to be agreed between both parties in good faith and they must not cause "a significant imbalance in the parties' rights and obligations to the detriment of the consumer".

The Supreme Court states in its summary of the case: "The charges might still be open to assessment by the OFT on other grounds under Regulation 5."

And Jonathan Richards, a partner at law firm Eversheds, adds: "There may be other aspects of terms and conditions which can be challenged. It could be argued that the clock has been turned back."

The OFT says it will announce its next step in December.

Martin Lewis, MoneySavingExpert.com creator, says: "Just had a peek at the blondepoker, they don't have whine like a bunch of wounded bitches over there, fml!"