Word!
Play by the rules, don't get charged. Better than paying a flat fee for your account.
Banks win Supreme Court case on overdraft charges
- Thread starter Neverwhere
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Word!
Play by the rules, don't get charged. Better than paying a flat fee for your account.
finally a kick in the teeth for the lazy spongers in this country who think the world owes them a living.
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this is true, but it will only take one bank that hasnt screwed its ballance sheet, (such as santander, HSBC, Barclays) to continue to offer free banking and people will just flock to them from the other banks.
personally my bank which is barclays has done the good and honest thing, all overdraft and missed DD charges are £8 a pop, no interest charged within the first 14 days over.
from time to time ive been charged, i look at the £8 and go "oops, my bad"
but when its £39 for the same thing like lloyds and many others you tend to look at it and say
"WTF?! im £3 over and you charged me £40! you rip off mother ****ing sons of b******, how in the name of christ do you justify it, you lousy scum!"
Its all about what "feels" right and fair to average joe public like me.
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- 8 Nov 2009
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how nice it must be to have enough of an income that you can rely on it to cover all of your outgoings when something unexpected comes up. unfortunately millions of others are not in the same position.
not simples, not in the bloody slightest.
To me it seems it should be simple contract law, terms of contracts cannot be used for parties to profit from the breach of a contract by a person. I don't want to pay for banking services either, that doesn't mean it's right to have penalty charges, if the banks wanted to they could refuse the transactions that impose these charges, they don't because they make money from them; which is wrong.
So what you're saying is that the bank should give you free money? If you are living that close to the breadline then might I suggest direct debit isn't the way forward for you and you should use a bank account like people used to, pay bills over the counter. You will be at no risk of any charges then.
To be honest, everyone should be trying to be in this situation, you can always afford to exercise more care with your outgoings. Very few people are in mounting debt because of things they need
Except sadly, you end up paying even more, because most companies now charge extra to pay by means other than direct debit - talk about a lose/lose situation.
it's usually a matter of a couple of quid a year, which is obviously preferable to the risk of several charges from a person who's expecting to go "unexpectedly" overdrawn at the slightest unusual expense
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- 8 Nov 2009
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one mum, one dad, two kids, fixed income that just about covers everything. thats the average working class family in england.
car breaks, money spent on clutch, car needed by mum for school runs and dad for work, not enough money for a bill, "charges please"
next month, pay bill money for month before, mum and dad working all hours so no room for extra income, funds still short due to paying off last months, without charges they could catch up over two or three months but nooooo,
not enough money in account to cover bills due to clutch breaking previous month and snowball effect "charges please"
and spiral.
too many of you are completely simplistic or just completely arrogant in an "im all right jack" way. im not sure which.
Presumably you mean a couple of quid a month, per bill?
My parents pay their BT bills by cheque as they don't like DDs - costs an extra £1.50 per month.
Exactly! Your damned if you do and damned if you don't.
'Payment handling fee', it's all a con, DD is there for the company taking the money not the 'ease to the consumer'.
Anyway, the cost of charges in my eyes are not fair for going over your OD/failed DD's, however I do agree that there should be a charge for failed DD's etc but it shouldn't be £25+.
Couldn't this be solved (as my mum did when she was bringing up two kids alone on a fixed income) by going in to the bank, explaining the situation and getting an authorised overdraft and so avoiding the charges? Sticking your head in the sand and hoping that all the charges will just stop seems to be about the only way you can rack up thousands of pounds of charges.
Since a few months ago. It was in the news.
Where does "free money" come in to a failed direct debit? The banks don't pay it for you...
I've just been through mine
NPower: Can pay for free online (great, don't even have to get off my arse and go to the bank)
Thames Water: As above or you can pay over the phone.
So that's my gas, electricity and water sorted.