Banks win Supreme Court case on overdraft charges

its not rocket science to learn about finances , i never learnt a thing but i look after my finances , i know people who are fairly wealthy and still go overdrawn , its absulute crazy
 
King85 said:
Maths isn't it? I was taught from an early age if I have X amount of something and I use it all i'll have nothing left. I can see what you mean though it's up there with string theory in regards of how hard it is to understand and we don't need to learn history really do we so lets squeeze that out and make way for lessons in how not to fail at life and then blame it on others.
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How fortunate that in maths lessons you were informed how long a cheque takes to clear, how direct debits work and the consequences of not having the money in your account there a full working day before, organisations such as the FSA and OFT and what they do and who to write to when things go wrong.

You must be a very intelligent person to have learnt string theory in school.
 
gambitt said:
How fortunate that in maths lessons you were informed how long a cheque takes to clear, how direct debits work and the consequences of not having the money in your account there a full working day before, organisations such as the FSA and OFT and what they do and who to write to when things go wrong.

You must be a very intelligent person to have learnt string theory in school.
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i think i got a f in maths but i still know how to look after my money
 
gambitt said:
How fortunate that in maths lessons you were informed how long a cheque takes to clear, how direct debits work and the consequences of not having the money in your account there a full working day before.
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they teach literacy in schools so i'd have imagined most people should have been able to actually read the contracts they were signing( and the information pertaining to the particular account they were signing a contract for) but i guess we're just raising a nation of morons.
 
DominicStar said:
Estate agents, bankers, MPs, lawyers? ;)
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yeah, nearly, my dad has a degree but works in sainsburys and my mum is a full time mum. volunteered at the local school for about 8 or so years prior to having my brother and is looking at going back in to charitable work now he's in school.

we just don't con ourselves in to thinking we're middle-class by spending money we don't have on things we don't need.
 
vincent1989 said:
they teach literacy in schools so i'd have imagined most people should have been able to actually read the contracts they were signing( and the information pertaining to the particular account they were signing a contract for) but i guess we're just raising a nation of morons.
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Clearly they didn't teach it very well in your school. They are called captial letters, feel free to use them.

Have you read they entire terms and conditions of your bank account?
 
Or how about be a little more pro-active instead of "I blame the parents and schools for not teaching me". A little research can go a long way.

Yes? No?
 
vincent1989 said:
yeah, nearly, my dad has a degree but works in sainsburys and my mum is a full time mum. volunteered at the local school for about 8 or so years prior to having my brother and is looking at going back in to charitable work now he's in school.

we just don't con ourselves in to thinking we're middle-class by spending money we don't have on things we don't need.
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Wonderful. Now let's say your dad gets made redundant and has trouble finding another job. Yes this does happen to many people, especially in a recession. The mortgage and bills eat up his savings within a few months and then he starts going involuntarily overdrawn, thus landing him with compound "service charges" from the bank. What then?
 
gambitt said:
Please tells us more about yourself if you are going to use yourself as an example. Or you could continue to argue the semantics in order to avoid the real point of this debate.
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My father was an enlisted soldier that did 22 years service never getting past three stripes. However he left my mother while she still had two kids so for several years was a single mother with two teenaged kids on a low fixed income (canteen work followed by newspaper telesales). For some of that time we were pretty close to the wire so beans on toast was a regular meal due to it being so cheap.
 
gambitt said:
Clearly they didn't teach it very well in your school. They are called captial letters, feel free to use them.
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i'll keep that in mind but i hope it doesn't bother you to much if i don't :)

gambitt said:
Have you read they entire terms and conditions of your bank account?
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read enough to know that bank transfers between banks will take 2-3 days, unless it's between accounts at the same bank in which case it will be instant, that it takes up to 5 working days (:() for cheques to clear, that provided my account is in the black at the end of the day i wont be handed any bank charges and that any money paid in over the counter will be credited instantly to my account as well as a £10 buffer which i am allowed to go overdrawn in to without incurring any charges.

i also know that i have a privilege account which entitles me to a £200 interest free fee free overdraft, phone insurance for up to 3 phones in my house and a number of other benefits of which i am free to opt in to.

i also know my bank operates in an ethical way, i know the money i store in the bank will not be invested in things such as animal research or weapons manufacture.
 
gambitt said:
Wonderful. Now let's say your dad gets made redundant and has trouble finding another job. Yes this does happen to many people, especially in a recession. The mortgage and bills eat up his savings within a few months and then he starts going involuntarily overdrawn, thus landing him with compound "service charges" from the bank. What then?
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If he's sensible he'll have cancelled any direct debits before being charged.
 
gambitt said:
Wonderful. Now let's say your dad gets made redundant and has trouble finding another job. Yes this does happen to many people, especially in a recession. The mortgage and bills eat up his savings within a few months and then he starts going involuntarily overdrawn, thus landing him with compound "service charges" from the bank. What then?
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there 2 sides to this ,theres the more unfortunate people that have debts and go overdrawn and the other side where people dont give a crap and just buy what they like and live of the state
 
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