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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

    Im not saying this is fact - I would happily pay the bank £30 if they could give me a break down of what that £30 was going towards. but they cant/wont and as a result we have this fiasco.

    great fun imho :D
     
  2. Bear

    Capodecina

    Joined: Oct 24, 2002

    Posts: 12,454

    Location: Bucks and Edinburgh

    Well after this thread I investigated changing my bank account to a monthly fee one and after some research I upgraded to a £14.50/month one as the benefits was well worth the money for what I want it for.

    Worldwide Family Travel Insurance
    Legal helpline
    Domestic Emergency Cover
    Accidental death benefit
    RAC Comprehensive breakdown cover
    Cardholder protection
    MarketMaster® from Barclays Stockbrokers
    Will-writing service
    Identity theft advice
    Mobile phone insurance
    Online shopping discounts at Barclays & Me
    Extended warranty for appliances
    Interest-free overdraft limit up to £250

    That lot will end up saving me quite a bit of money, unfortunately I only just got some travel insurance for my holiday in Feb. Oh and I get a free return plane ticket to a choice of places in Europe :)
     
    Last edited: Jan 15, 2008
  3. Bear

    Capodecina

    Joined: Oct 24, 2002

    Posts: 12,454

    Location: Bucks and Edinburgh

    I wasn't actually, it was more a question of, if people wanted the debit to be stopped when people had a lack of funds so they didnt pay the charge, a few people said they would pre-empt the problem then rearange payments for their mortgages etc. My point was, that if they were so together that they would rearrange payments with the people they owe money to, then how comes they werent together enough to avoid the charges in the first place ??

    Acidhell then told me that it was the banks fault that they changed the date of the interest they took from him which made my point rather moot, but it still stands for other people.
     
  4. andyp

    PermaBanned

    Joined: May 31, 2005

    Posts: 1,628

    Location: South Yorkshire

    Thus proving the high street banks exist for one sole purpose - to screw as much money as possible out of the average person.
     
  5. Dolph

    Man of Honour

    Joined: Oct 17, 2002

    Posts: 47,689

    Location: Plymouth

    *bashes head into desk*

    If it's a service charge, there is no responsibility to break down those costs. It's like demanding apple tell you the breakdown of costs for an Ipod or else you're not going to pay for it (but you've already taken it to make it similar)

    Again, if it is a service charge, not a penalty charge, the amount and breakdown is completely, utterly irrelevant to the charges validity.
     
  6. Dolph

    Man of Honour

    Joined: Oct 17, 2002

    Posts: 47,689

    Location: Plymouth

    How can they be screwing people when it's entirely the individuals choice (in the vast, vast majority of cases) whether or not they get charged?
     
  7. andyp

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    Joined: May 31, 2005

    Posts: 1,628

    Location: South Yorkshire

    The banks make enough money out of those people whose accounts are always in credit anyway.

    The charges are superfluous really.
     
  8. Dolph

    Man of Honour

    Joined: Oct 17, 2002

    Posts: 47,689

    Location: Plymouth

    The charges encourage people to manage their accounts appropriately. How is that superfluous?

    When you see people claiming £3 or £4k in bank charges, do you think they have good control of their fiances?
     
  9. Stinky

    Sgarrista

    Joined: Mar 28, 2005

    Posts: 9,160

    i had a letter through the post yesterday morning to tell me that Lloyds where goign to be taking £135 in charges from my account on the 2nd Febuary.

    now i went over drawn becasuse of a charge they took out in the middle of last month, as it was xmas i had no extra money to put in and wasnt expecting the charge. this then cost me £6 - £15 a day for 10 days. + £15 admin charge, then because of the original charge i had 2 direct debits that could not be withdrawn. so they where returned. Lloyds then put another £60 charge on the account (£30 per Direct Debit) and there is nothin i can do about it
     
  10. meghatronic

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    Location: 38.744281°N 104.846806°W

    I for one am extremely against the refunds.
     
  11. Dolph

    Man of Honour

    Joined: Oct 17, 2002

    Posts: 47,689

    Location: Plymouth

    There is, talk to them, discuss the situation and take it from there. Don't go in threatening or demanding (it won't work with this case going on), but explain the situation and if you've got a good previous history, most banks will waive the charges for a one off situation.

    If it's not a one off, getting the charges waived will be harder...
     
  12. itsallaboutyou

    Hitman

    Joined: Mar 11, 2005

    Posts: 981

    Good point - I've never had a bank charge (thankfully!) but there was a time where I came close... I'd paid my credit card balance off in full - but hadnt taken account of the bank holiday (stupid, I know!). I approached my bank and explained the situation and they said they would waive the charge in this instance... I dont expect to be that lucky in future!

    If I was a consistent offender, I wouldnt have a leg to stand on, whereas my bank took the view that I had never missed a payment before and the funds were available to pay...

    Tom*
     
  13. andyp

    PermaBanned

    Joined: May 31, 2005

    Posts: 1,628

    Location: South Yorkshire

    Whether or not your manage your money well - the high street banks (and I'd like to point the finger specifically at RBS and HSBC here) are making so much money out of you - the charges are nice extra cash cow for them.

    Unfortunately the banks will use these court cases as an excuse to unfairly charge people for actually having an account.
     
  14. Stinky

    Sgarrista

    Joined: Mar 28, 2005

    Posts: 9,160

    just called them up and they said there is nothing they can do over the phone :(
     
  15. Stinky

    Sgarrista

    Joined: Mar 28, 2005

    Posts: 9,160


    im my case the reason for being charged the last few months is because i have been charged once which has messed my finances up. causing me problems every month at the moment. Like this month wanting £135 in charges is goign to make me very short next month and its going to be hard to just live normally next month
     
  16. Things change I've changed

    Capodecina

    Joined: Jul 27, 2005

    Posts: 11,906

    Location: The Orion Spur

    Give over, you telling me that the banks in the UK that make an average of 10 million pounds a day in bank charges (going on the bbc's figures) that the money that they make from these charges isn't an added incentive lol, why do they need to encourage people to manage their bank accounts properly when all they need to do is not let people go o/d if they have a basic acc or if they have an overdraft facility setup then only allow the amount of money that leaves that acc to equal the overdraft,

    when I setup an overdraft facility on my acc I don''t expect it to go over that amount, but they continue to allow it and then charge you for the pleasure, sometimes they are even more cheeky, they will allow the DD payment to come out of your acc for a day then bounce it back and still charge you even though they didn't honor the payment,

    if there isn't enough money in your acc or funds left on your over draft then they shouldn't take any money out, not for a day, not for a week, no funds no payment, simple, what makes me even more mad is every company that I've ever paid late via DD, be it BT, Vodaphone, catalog company etc, they have never charged me for paying them late, the 'actual' company the money is owed to does'nt charge me !, yet the bank charges me £30 for refusing the payment,

    all other charges/intrest charges etc, fine, I agree with, but refused payment charges and charges for going over an agreed o/d, nahhhhh.
     
    Last edited: Jan 15, 2008
  17. Skully

    Sgarrista

    Joined: Jan 6, 2004

    Posts: 9,640

    Location: Halesowen

    Think I went 30p into unauthorized overdraft (-£2.42) or something silly like that as I forgot Xbox Live was coming out.

    Previous I was told by my bank it wouldn't be charged if it was less than £5, but this time I am paying £28 for a mistake and a charge that I shouldn't have to pay!

    If I don't have the money in my account then they shouldn't let payments go through.
     
  18. itsallaboutyou

    Hitman

    Joined: Mar 11, 2005

    Posts: 981

    That seems a little harsh - but its standard practice afaik - they compound charges - which is on a par with highway robbery!

    Have you approached them for an authorised overdraft - although not ideal it may help for this one month?

    Tom*
     
  19. Things change I've changed

    Capodecina

    Joined: Jul 27, 2005

    Posts: 11,906

    Location: The Orion Spur

    Exactly what I said above your post, you wait until this decision has been made in the high courts over the validity of bank charges, if it goes against them they soon won't let you go over your agreed over draft then will they, and millions of people will be better off for it, I don't care if they even charge a monthly service charge for the acc because at least that would be a more honest way to gain money from it's customers, end of the day they are providing a banking service, I'd much rather pay them for the whole package instead of being charged silly amounts of money for going over drawn when I would prefer it that they didn't allow my acc to go over my agreed amount.
     
    Last edited: Jan 15, 2008
  20. Stinky

    Sgarrista

    Joined: Mar 28, 2005

    Posts: 9,160

    I have indeed i called them up and asked for a temp on just for one month. so i dont continue mounting up the charges and they refused. so how all i can do is watch the account, and see that its being charged a minimum of £6 a day for 10 days. but if i then go over drawn by another £10 it increases (and starts again - the 10 days period) at £15 a day. and lloyds say these charges are a fair way rather than the standard £30 a time (max of 3 times a month.

    i totally agree with this. i was told when i got my OD that i would have 'X' amount, however, it seems i can actually have whatever i want becuase they will keep paying the DD and all even if it means incurring costs!! :mad: