Bank Charges D Day

[G1BTW]

So it is the banks duty is to allow people (who continually break the rules they signed up to)

The basis of the Supreme Court judgement today was that in going overdrawn and incurring charges people were specifically following the rules they had signed up to. We give you an account, you go overdrawn by this much, we charge you this amount: that is the contract.

[Acidmouse]

[X] Laz pwns bank charges debate

I am sorry but telling me dept is not often an easy, managable or a cut and dry situation for alot of people using banks does not equate to a valid counter argument on banks charges. So it seems do the people who decide the law.

[lazaroonie]

Not over keen on the depression comparison tbh. More often than not people make decisions in life that lead to dept, mental health problems is an illness.

by using the phrase 'more often than not' suggests that you do agree that in some cases debt can be caused by external factors outwith the control of person (unemployment, injury, etc etc). Therefore any arbitrary system which punitively fines people for going over a pre-defined spending limit (a limit which is set by the organisation doing the fining, for added irony) is by its very definition unfair.

and also there is often a strong correlation between depression and debt. one can often lead to the other.

[G1BTW]

[X] Laz pwns bank charges debate

I am sorry but telling me dept is not often an easy, managable or a cut and dry situation for alot of people using banks does not equate to a valid counter argument on banks charges. So it seems do the people who decide the law.

It's a valid riposte to the assertion that bank charges are largely run up by people who can easily manage their accounts to stop them repeatedly going into the deep-red and repeatedly incurring charges.

[ripple11]

If you go overdrawn of course you should pay a charge....but a fair reasonable charge.

If you "borrow"£2 for 3 days for example,should you be charged £35 for that?....sod it lets charge them £135, then the ******s wont do it again!

The Banks knew it was a screw em money making scheme, that was taking the p***,because they paid out millions before the court case and are going down the fair and reasonable path now.

[sovietsong]

Can the banks ask for the money back they wrongly paid out in the cases already gone through?

On a serious note, I agree that the people who go overdrawn then the charge comes out so get charged again is wrong. It used to be the case that the bank manager could refund an amount of previous charges and some of the ones coming up to stop this cycle.

Unfortunatly places like money saving expert came along and backed the banks into a corner where they refund nothing because of the vast amounts paid out to people so they could go on holiday!!

[ACE2M]

It's extortion, to charge incredible amounts of interest on small discrepancies, legalised loan sharking. This has happened to many people, go £5 over drawn, £35 charge, £25 letter and £5 per day charge while remaining overdrawn. This ends up costing you £200ish in a month, a lot of this country earn less than a grand a month take home, enter spiral that the banks just keep fucking you month after month with no compassion. I thought we lived in a civilised soceity.

The bank has it well within it's power to provide accounts that do not allow you to go overdrawn via spending or DD etc, why don't they provide these? because they don't make any money out of them.

[lazaroonie]

If you go overdrawn of course you should pay a charge....but a fair reasonable charge.

If you "borrow"£2 for 3 days for example,should you be charged £35 for that?....sod it lets charge them £135, then the ******s wont do it again!

The Banks knew it was a screw em money making scheme, that was taking the p***,because they paid out millions before the court case and are going down the fair and reasonable path now.

in the bad old days if i wrote a cheque and had no money. it bounced. boing boing....

then someone at a bank had the brilliant thought that instead of bouncing it (and charging them), lets pay it (and charge them). Then we can charge them twice. genius !


i dont want anyone to think i am advocating that people eschew their responsibilities with regards to financial matters. Believe me, i have helped quite a few people close to me come to terms with their debts and finances (some of them would make your hair turn gray). The last thing people in this situation need is further punishment.

these charges prey on the weakest in society, and all to benefit the people who run the banks by way of bonuses.

[Beaver808]

A friend of mine was charged £194 for going 92 pence overdrawn... It started at £60ish fine on the "x-amount charge + £5 per day" and slowly built up. She didn't know what to do and by the time she spoke to somebody it was £194. The bank eventually reduced it but she had to do a lot of fighting for it.

[lazaroonie]

Can the banks ask for the money back they wrongly paid out in the cases already gone through?

On a serious note, I agree that the people who go overdrawn then the charge comes out so get charged again is wrong. It used to be the case that the bank manager could refund an amount of previous charges and some of the ones coming up to stop this cycle.

Unfortunatly places like money saving expert came along and backed the banks into a corner where they refund nothing because of the vast amounts paid out to people so they could go on holiday!!

thats quite funny. poor wee banks being backed intoa  corner by that bully on MSE. its so unfair that anyone should try to upset the applecart of them legally extorting people. they dont even throw us a few crumbs down from the table anymore.

(tugging forelock)

[StuartHopkin]

Lol

Martin Lewis of MSE fame is an arse

The banks werent backed into a corner, its all comercial desicions on a huge scale.
They would have had little interest in the outcome of this case as either way they WILL get as much money as they want.

Beavers friend who got charged £194 for going 92 pence overdrawn, why would you bank with a bank like this?
Everyone stating RBS's daily charges, why on earth would you bank with a bank that does this.

Debt and depression may go hand in hand, and unexpeceted charges and situations may not be easy to manage, but if you are really going to struggle with the charges etc then why would you not change your account to not allow unauthroised borrowing?

Banks do a lot more good than bad, and the route of bank charges is the actions of people, they can be easily avoided.

[Ironside]

http://news.bbc.co.uk/1/hi/business/8376906.stm

wiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii

[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.

[Acidmouse]

Bit harsh imo.

Obv the banks take the piss with the charges and they have been put in line by people causing a fuss etc. But you can always move banks and put your money with one that really does not charge you vast amounts and treats you like human beings.

I been in dept and its shit, the last thing I would have needed was being stung by bank charges, but I realise it is down to the individual to manage their fianances to avoid such circumstances. Nothing selfish about that.

People have to realise most of this country is full of people in huge dept from their own making.

[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.