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Bank Charges.. Only One Possible Outcome??

Discussion in 'General Discussion' started by itsallaboutyou, Jan 14, 2008.

  1. stevenazari1

    PermaBanned

    Joined: Oct 21, 2007

    Posts: 1,518

    no I wouldnt want them to take the money because then I get charged for it and still have to cough up the money for the debit anyway, I simply tell the company I cant pay at this moment and arrange a pay date give them the funds and dont be daft they dont score against you straight away. you only lose credit rating if you dont pay up with no effort on your behalf to pay and/or you have constantly and still are behind on payments. and if you are constantly behind on payments you shouldnt have taken the loan in the first place in which you deserve the charge on their end.

    but now you're talking about something else.
     
  2. Bear

    Capodecina

    Joined: Oct 24, 2002

    Posts: 12,483

    Location: Bucks and Edinburgh

    Yet you just said yourself you were over by pennies and yet in my example I said 40p, so what is the difference, why didnt you take out an overdraft so there was no charges ??
     
  3. stevenazari1

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    Joined: Oct 21, 2007

    Posts: 1,518


    quoted for truth.
     
  4. weringo

    Sgarrista

    Joined: Aug 30, 2006

    Posts: 8,026

    Obviously, then you can avoid the charge.
     
  5. Glaucus

    Man of Honour

    Joined: Mar 11, 2004

    Posts: 76,645

    Because they didn't tell me. The bank decide to take interest out on a different day to when they usually do it which sent me over. They then never told me. They always did it on the first, then they changed it to the last day of the month with no notification.
     
  6. stevenazari1

    PermaBanned

    Joined: Oct 21, 2007

    Posts: 1,518

    you guys might be interested in reading these forums

    everything there is explained so I dont have to. also all the people that have applied and won/ had their cases stayed. (stayed means a case is on hold until a commercial trial being held or going to be held has been ruled.)
     
  7. Bear

    Capodecina

    Joined: Oct 24, 2002

    Posts: 12,483

    Location: Bucks and Edinburgh


    Right now we are getting somewhere, so if thats the case and these people are so together then why have they been stung with charges ?? Also bearing in mind some people have multiple charges against them, who is to say they dont repeatedly default on loans etc ??
     
    Last edited: Jan 14, 2008
  8. Bear

    Capodecina

    Joined: Oct 24, 2002

    Posts: 12,483

    Location: Bucks and Edinburgh

    Ah ok then that fair enough then, thats them being dishonest
     
  9. Glaucus

    Man of Honour

    Joined: Mar 11, 2004

    Posts: 76,645

    because of the banks tactics. why take interest out at the end of the month ? is that so they can claim "charges". Why not tell you, you are over drawn either by email or phone. I had money and iI paid it in as soon as I checked. Luckily I check my accounts every few days.
     
  10. stevenazari1

    PermaBanned

    Joined: Oct 21, 2007

    Posts: 1,518

    there are many reasons why an account has had a charge applied to them and charges vary in size. the biggest charge I had was £160 and then 2 days later £60 was taken the following month £30 was added because of those charges. even though the court had ordered a stay on my case and the bank wasnt allowed to but done it anyway.

    you can get charged if:

    your account goes below zero from a withdrawal/payment to a 3rd party
    interest takes you overdrawn
    third party error
    a unconcious decision (i.e drunk)
    bank error
    fraud

    many other ways all of which do not matter. I have explained to you 6 times now about bank charges, I have linked a forum for you to clue yourself up but you seem to have your mind made up on this so I will leave you too it.
     
  11. Bear

    Capodecina

    Joined: Oct 24, 2002

    Posts: 12,483

    Location: Bucks and Edinburgh

    I have read what you said and have taken it on board and accept that you would rather them reject the demand from your account and that its touted as a service charge. Does that actually make you any happier ??

    On a side note having jumped into this thread at the end I didnt really know anything about bank charges as I have never been charged it so had no reason to look it up, so I have learnt something today, so you can be pleased with yourself :)
     
    Last edited: Jan 14, 2008
  12. Bear

    Capodecina

    Joined: Oct 24, 2002

    Posts: 12,483

    Location: Bucks and Edinburgh

    I wasnt talking about you specifically as I did mention on the post before your one that it was a dodgy banking move, I was talking generally. Anyway it doesnt matter now as I understand now ;)
     
    Last edited: Jan 14, 2008
  13. stevenazari1

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    Joined: Oct 21, 2007

    Posts: 1,518

  14. Dolph

    Man of Honour

    Joined: Oct 17, 2002

    Posts: 47,774

    Location: Plymouth

    The problem is what you have posted is nothing more than your opinion on the matter. Your argument is exactly the same as that which is currently under debate in the court (namely whether they are service charges or penalty charges. The unfair contract terms legislation only applies if they are the latter, and that is what is currently under discussion in court).

    The fact that you've linked to a website and repeated the same argument over and over does not make it true, because your argument is not the truth. Once this process with the court is over, it may be considered the truth, or it may have been rejected entirely.

    We need a firm legal decision one way or another (personally I hope they rule they are service charges, and yes I have been charged in the past), before this argument is worth continuing.
     
  15. Dave M

    Soldato

    Joined: Oct 17, 2002

    Posts: 5,470

    I have the occasional charge but have no interest in getting a refund - I can afford it.

    I can't in all honesty though say I'm happy with the idea of free banking paid for my people in dire straits being raped (the charges are rape, the amounts they want are truly ridiculous) so I may avoid a monthly charge.

    I pay for broadband - should I get free broadband because people who go over their limit get charges massive bandwidth charges?

    The sooner the banks get over their fixation with 'free banking' the better.

    if I want free banking maybe I'll have to put my penion, CC, current account savings and insurance all with the same place - if that saves me money (it probably won't).
     
  16. Dolph

    Man of Honour

    Joined: Oct 17, 2002

    Posts: 47,774

    Location: Plymouth

    Perhaps the simple solution is asking if they would prefer payments to be honoured or rejected when setting up the account, that would give people the option, but it would probably lead to far more people getting late payment notices on their credit score for the sake of a few quid...
     
  17. ajgoodfellow

    Capodecina

    Joined: Dec 24, 2004

    Posts: 11,324

    Location: Shirley, Solihull, UK

    I've just been charged £75 by HSBC for going overdrawn three times in the month of December

    They say that there's a £10 grace - that is if I go £10 past my limit then nothing will happen - but over that there's a £25 charge

    I went overdrawn by about £30 - charged - back in credit - overdrawn - etc three times. Each was considered a seperate case, even though the bank account was back in credit the next day in all three occasions. I mentioned this when I phoned them (and the fact that there was money waiting to clear) but they said that this doesn't matter

    It did annoy me, especially as £75 is a large amount of money, but at the end of the day I messed up. I'd rather that then having to pay for my bank account personally

    I see the charges as a fine as well as just administration charges.

    They did say that they don't want to charge normally and if I find that I'm short one month to talk to them about a temporary overdraft extension until the next month. They did seem like they wanted to help but at the end of the day they're there to make money
     
  18. Alasdair

    Wise Guy

    Joined: Apr 16, 2004

    Posts: 1,977

    Location: Edinburgh

    Which bank do you work for, or where is your professional association with the financial services industry?

    You fail to understand that by signing up for a bank account, you agree to adhere to the terms and conditions. The bank is even kind enough to give you a copy of them, including your legal redress with the Financial Ombudsman if you have any issues that are not resolved by the bank to your satisfaction. Signing on the dotted line and making a deposit to your account renders the account active, and making the account active is taken as an implicit assumption that you have agreed to these terms. It even explains that in the terms, so you can't say they forced the bank account on you!

    I'll go through each of your criteria for charges in detail

    You agreed to keep your account in credit. In fact any Direct Debit would also be accompanied by a DD mandate and a copy of the Direct Debit terms and conditions, including the part where you authorise the payee to debit your account for amounts you have agreed to - minimum 14 days notice of course.

    The only time this would happen would be if you had accrued debit interest, and this only accrues on overdrafts, cue another set of terms you agreed to. You even get a letter from the bank when you set up or amend your overdraft, and this re-iterates that your overdraft is payable on demand and the agreed limit.

    Depends what you mean on this. If, for example, a Direct Debit is paid twice, you are covered by the Direct Debit guarantee. If you contact your bank and query the debit, they will not levy any charges, and may offer you a temporary overdraft if your credit rating will support it and it looks like you have a genuine point. This requires a degree of pro-activity from yourself though, the bank won't just magic some extra cash for you out of thin air.

    Any credibility at making a salient point goes out the window here. If I was to get drunk and gamble away my car playing poker online, would I blame the manufacturer of my car for allowing me to own one to gamble it away? Or what about my ISP for allowing me to go online? It's their fault, they should be monitoring things for me.

    First one - wrong, wrong, wrong. Second one - not if you've done everything to keep your account details safe and the funds were taken by some other means. Internet banking fraud is a good example, a bank will probably not charge you if you've been diligent about every aspect of your online banking, and it has been a failing in their security that has allowed the removal of funds. If you've been stupid enough to give your password to someone who calls saying there is a pigeon in your account, it's your fault and you shouldn't be complaining ;)

    I would suggest that you read something definitive on bank charges, the forum you've quoted is simply a means for aggrieved customers with poor financial acumen to moan about how they're going to take down the banks - not once is there anything from an actual verifiable bank employee. A forum is by no means a valid place to learn anything, if that was the case I would have left this thread believing many untruths and white lies.

    For the record, I am a bank employee, and I am completely in favour of bank charges. Retail accounts kept in credit generally do not make money, the credit balances are generally too marginal to make any return on, especially when you offset it against the service charges for running the account. I also pay for my bank account, I feel the range of services offered for a nominal fee saves me a good deal of money against a low cost to the bank - insurance costs nothing to the grantor unless a claim is made.
     
  19. DRZ

    Soldato

    Joined: Jun 2, 2003

    Posts: 6,817

    Location: In the top 1%

    So what do you think would happen to the bank you work for if every single person holding a retail account with you were to withdraw their money tomorrow?

    I'd wager that they wouldn't be trading for very long.
     
  20. stevenazari1

    PermaBanned

    Joined: Oct 21, 2007

    Posts: 1,518

    I fully understand them, I accept them, I dont accept they didnt list there would be a £30 charge when I took the contract.

    I never stated they forced the bank account on me and I think the first thing someone does when they get a bank account IS PUT MONEY IN IT! rendering that comment pointless.

    I'll go through each of your criteria for charges in detail

    yes yes non important v good

    personally I chose not to have an overdraft but w/e we are ranting here right?


    I've had dd's come out in errors at least 4 times off the top of my head, each time been charged, bank said take it up with the company, but the charge has nothing to do with them and like hell am I going to literally give the bank money.

    hmm I think you need to read the person I was speaking too at this point - he said in a nut shell "list ways you can go over drawn" so I listed them, Im not accusing anyone of anything, all Im giving are reasons as to why you would choose to go over drawn but w/e you've started your rant.

    I've never had fraud on my account - I just know it happens and again Im listing ways you can go over drawn.

    some of them are actual lawyers, some of the moderators are more clued up on law than you. I have read many articles on bank charges thank you very much to know enough about it to win back my 700 quid without needing a legal representative but what do I know right?

    I feel sorry for you

    .

    very nice

    yes the money just sits there right and is never used by the bank to invest. thats why not so long ago we seen very long ques of customers at a certain bank trying to get their money out because it was about to go bust.

    v good v good

    thanks for the extremely long post although pointless as it was you missed my point entirely. the conditions do not state how much a charge will be. I have asked countless times for it to be written and been flat refused do you know why? I have also asked for a break down of the charges as to which mr bank employee I am certain you have no idea as you havent been told yourself.

    the charges are iligitamate. £30 for a printed piece of paper.

    I couldnt give two hoots of a rats privates if you think they can charge what they like. myself and 9417 other people (of which make a total of £19,569,582) who have taken the bank to court and won say other wise. Get off your high horse just because you work for a bank doesnt mean you know better