Bank Charges

8 I3ALL · 30 Mar 2006 at 19:08

Im sure that once in a while some of you will have been slammed with over priced bank charges. :rolleyes:

But did you know these charges are breaching the 1977 Unfair Terms (contracts) Act and the 1999 Consumer Credit Act (Unfair Terms in Consumer Contracts)

Want to try and get ya money back + intrest ?

take a look HERE

seems like you cant loose

Kell_ee001 · 30 Mar 2006 at 19:14

Sounds good - although I have always had my bank charges refunded anyway!

tiggy · 30 Mar 2006 at 19:16

Kell_ee001 said:
Sounds good - although I have always had my bank charges refunded anyway!

Most of the time I get mine refunded too if I talk to the right person

I dont personally know anyone at the bank, but all of the staff at hsbc lincoln are reasonable- well there are 1 or 2 that arent, but I avoid them.

Kell_ee001 · 30 Mar 2006 at 19:35

tiggy said:
I dont personally know anyone at the bank, but all of the staff at hsbc lincoln are reasonable- well there are 1 or 2 that arent, but I avoid them.

Same here with the Whitley Bay branches of HSBC and Natwest

Sharq · 30 Mar 2006 at 19:45

So your telling me that i could claim all the money back, from when they charge me for overdraft?

yermum · 30 Mar 2006 at 19:52

My Mum went to pay some cash into the bank to pay a store card. This is the clearing bank for the store, but they still wanted £5 for the transaction. No wonder they make £squillions every second

jhmaeng · 30 Mar 2006 at 20:10

yermum said:
My Mum went to pay some cash into the bank to pay a store card. This is the clearing bank for the store, but they still wanted £5 for the transaction. No wonder they make £squillions every second

I'm guessing you must be talking about the HSBC charge for non-HSBC customers who use the counter service between (IIRC) 11am and 2:30pm. Which, quite frankly, I rather appreciate as a customer of HSBC group. She could always pay that bill in the bank she banks with - it will still reach the correct account (although it might take an extra couple of days).

8 I3ALL · 30 Mar 2006 at 20:34

So•H I Gunit H**•mp3 said:
So your telling me that i could claim all the money back, from when they charge me for overdraft?

hmmmm no but you can claim back the money they charge you if you go over your overdraft , nasty letter charges bounced cheque charges and returned DD charges

Sharq · 30 Mar 2006 at 20:45

8 I3ALL said:
hmmmm no but you can claim back the money they charge you if you go over your overdraft , nasty letter charges bounced cheque charges and returned DD charges

My GOD, am going to be rich after this

Cheers 8 Ball.

Oracle · 30 Mar 2006 at 20:56

Well, here goes nothing!!!

Lithium · 30 Mar 2006 at 21:01

It works, im claiming back £2500!

http://www.bankactiongroup.co.uk/

Kitchster_uk · 30 Mar 2006 at 22:35

Working for HSBC, you really get a great impression of why exactly bank charges are put on peoples account. I had someone in a while ago with the cheek and audacity to tell me that I couldn't tell him not to blow his money on whatever rubbish he wanted. Except it wasn't HIS money, it was an overdraft.

Every day I see instances of people who flagrantly abuse their bank account, then come an moan that they've been charged. Yes, I refund the odd one or two, but in the main, the customer is at fault. You REALLLY don't know how luck you are over here. Try Australia for a banking system. Cashing a cheque costs money, as does paying DD's/SO's, cash withdrawals from the ATM - all cost you money. Hell, all my business customers pay for EVERY transaction - 60p per cheque presented for example

Then there are the real *?#@%$%s who blatently sign up for as much credit as they can and dissapear off, the one's who defraud us at every chance we can get, the cheeky gits who whine that it'll cost them £5 to pay a bill that their own pathetic excuse for a bank isn't capable of handling, simply because they are only pretending to be a bank and don't hold a Bank Giro Credit licence.

HSBC will pay nearly £3billion of tax into the treasury and now employs 60,000 people throughout the UK and 1/4million worldwide. The UK bank doesn't even cover the tax bill in profits. 55% of accounts cost us money to run in 2004 - more than HALF. 80% of our income comes from 10% of our customers. SO, all those who whine that they have been naive enough (at best) to have been charged really need to take a look at what they ge for free and how good you actually get it. Would you go into Asda and expect to get the stock free? Or if you'd been fined for parking without a ticket would you dispute the fact you shouldn't have been fined? Thought not.

/rant

Johnny Girth · 30 Mar 2006 at 22:40

No, and if I sent you a birthday card that had a £50 fine for opening it you wouldn't mind paying it would you?

Overclocker · 30 Mar 2006 at 22:55

Lithium said:
It works, im claiming back £2500!

http://www.bankactiongroup.co.uk/

How did you manage to rack up £2500 worth of bank charges? Maybe you should take a long hard look at your finances!

If you go overdrawn/bounce payments you deserve to get charges. I got charged £150 one month last year...I was overdrawn therfore I deserved it. Definitely taught me to be more careful.

The charges are normally stated when you sign up for an account. :confused:

Don't like it, go elsewhere.

Lithium · 30 Mar 2006 at 22:57

Wow kitchester you really have got that HSBC feeling right up your ****.

Firstly this year HSBC announced: £11.9 BILLION POUNDS in profit.

Secondly dont bother telling me where those profits come from, i know full well the majority is earned outside of the UK but that IMO doesnt really matter.

My experiance with HSBC has been absolutely horrendous.

For 5 years now i have had a HSBC personal + HSBC banking account. HSBC clearly liked me since they offered me an £8000 limit on my credit card THE DAY I TURNED 18.

Everything was great mostly, then as life has a habit of being unexpected i was facing the prospect of going out of business. Anyway long story short i managed to rack up £4.5k debt to HSBC on my personal bank + credit card. Im currently paying it off via a "managed loan".

This week i heard about this bankingactiongroup on LBC. I went through my statements and it turns out of that £4.5k around £2500 of it is in charges ALONE. Dont care what crap you want to say, its EXTORTIONATE.

Banks charge £20-40 for a failed direct debit? Considering the DD's are all nearly all automated they cannot justify such a cost, since they do not actually incurr ANY REAL LOSS. £20-40 for going over limit? Again they do not incurr any real loss.

Hundreds of people are contacting their banks and getting their money back. HSBC outright offered me £1500, i declined, ill be getting the full ammount if i have to take them to the small claims.

The fact that the banks are not defending their case speaks volumes. they KNOW they are overcharging and are hoping to keep everything as quiet as possible.

Not being funny but your attitude is pretty typical of MOST bank workers, you think "we" consumers are complete **** ups and you take the high ground.

Also barclaycard owe me £300 and straight up paid me back.

[Please do not swear. Account reinstated in 48 hrs]

Kitchster_uk · 30 Mar 2006 at 22:59

Johnny Girth said:
No, and if I sent you a birthday card that had a £50 fine for opening it you wouldn't mind paying it would you?

No one sends you letters that charge you for opening them :confused:

If you get a charges statement that has £50 on the chances are that limits have been exceeded. Just remember, it isn't your money that you're spending, it's the banks money.

Lithium · 30 Mar 2006 at 23:01

Overclocker said:
How did you manage to rack up £2500 worth of bank charges? Maybe you should take a long hard look at your finances!

If you go overdrawn/bounce payments you deserve to get charges. I got charged £150 one month last year...I was overdrawn therfore I deserved it. Definitely taught me to be more careful.

The charges are normally stated when you sign up for an account. Don't like it, go elsewhere.

Wow what a stupid thing to say. My finances were in perfect order and i was doing very well for myself, unfortunately running a small business offers NO long term financial security, the cookie almost crumbled and i got into big time debt for nearly 6 months.

Kitchster_uk · 30 Mar 2006 at 23:06

Lithium said:
Wow kitchester you really have got that HSBC feeling right up your *rse.

Firstly this year HSBC announced: £11.9 BILLION POUNDS in profit.

Secondly dont bother telling me where those profits come from, i know full well the majority is earned outside of the UK but that IMO doesnt really matter.

My experiance with HSBC has been absolutely horrendous.

For 5 years now i have had a HSBC personal + HSBC banking account. HSBC clearly liked me since they offered me an £8000 limit on my credit card THE DAY I TURNED 18.

Everything was great mostly, then as life has a habit of being unexpected i was facing the prospect of going out of business. Anyway long story short i managed to rack up £4.5k debt to HSBC on my personal bank + credit card. Im currently paying it off via a "managed loan".

This week i heard about this bankingactiongroup on LBC. I went through my statements and it turns out of that £4.5k around £2500 of it is in charges ALONE. Dont care what crap you want to say, its EXTORTIONATE.

Banks charge £20-40 for a failed direct debit? Considering the DD's are all nearly all automated they cannot justify such a cost, since they do not actually incurr ANY REAL LOSS. £20-40 for going over limit? Again they do not incurr any real loss.

Hundreds of people are contacting their banks and getting their money back. HSBC outright offered me £1500, i declined, ill be getting the full ammount if i have to take them to the small claims.

The fact that the banks are not defending their case speaks volumes. they KNOW they are overcharging and are hoping to keep everything as quiet as possible.

Not being funny but your attitude is pretty typical of MOST bank workers, you think "we" consumers are complete **** ups and you take the high ground.

Also barclaycard owe me £300 and straight up paid me back.

Great, so you get charged. The process isn't as automated as you think. We have a Central Credit unit that deals with returns in and returns out. As for going over your limit - it's not your money! People are employed to deal with this, buildings, offices etc. You sign to say you accept the terms and conditions. I have been charged over £100 by First Direct for going over my limit a few times. My fault, I pay up.

I don't know your circumstances but I do know that it requires continual and flagrent abuse of your facilities for a managed loan to be considered - that is the last step before the debt collectors. That is when you get your switch and credit cards taken away, no overdraft allowed. Some charges the banks (all of them) put on are unfair, but I don't know anyone who has operated their account within the terms & conditions that has been charged. End of the day, follow the rules and you don't get charged, same as don't speed and you don't get speeding fines...

8 I3ALL · 30 Mar 2006 at 23:14

Overclocker said:
Snip

The charges are normally stated when you sign up for an account. Don't like it, go elsewhere.

well when i opened my bank account when i was 16 they didnt state in the T&Cs that i would be being over charged/and in breach of laws ......and saying "go elsewhere" is :rolleyes:

there is no where you can go they all overcharge and that is that.

does it cost a bank 35 pounds to send a computer generated letter out no...
does it cost them anything to return a Direct Debit unpaid no.... but you think its ok for them to charge you ...Why ?

Lithium · 30 Mar 2006 at 23:17

Kitchster_uk said:
Great, so you get charged. The process isn't as automated as you think. We have a Central Credit unit that deals with returns in and returns out. As for going over your limit - it's not your money! People are employed to deal with this, buildings, offices etc. You sign to say you accept the terms and conditions. I have been charged over £100 by First Direct for going over my limit a few times. My fault, I pay up.

I don't know your circumstances but I do know that it requires continual and flagrent abuse of your facilities for a managed loan to be considered - that is the last step before the debt collectors. That is when you get your switch and credit cards taken away, no overdraft allowed. Some charges the banks (all of them) put on are unfair, but I don't know anyone who has operated their account within the terms & conditions that has been charged. End of the day, follow the rules and you don't get charged, same as don't speed and you don't get speeding fines...

Follow the RULES? Yes the unfair rules that the banks apply. The simple fact is the banks are NOT defending these cases. There are several forums on the internet dedicated to such causes, many hundreds of people are getting full refunds on the penalty charges.

The law is quite clear on penalty charges, the creditor has to proove actual monetary loss that substantiates the charge.

Of course there are costs involved, but £30-40 i dont think so.

The banks are NOT defending their cases, they are having to cough up the money so like i said it speaks volumes for how the banks are operating. They know its illegal. FACT.

Direct Debits are almost entirely automated. The banks try and claim that they have to intervene manually but this is false (most of the time). I know this because when i had an issue in the beginning with HSBC i sent them a DPA information request and made sure they included notes on manual intervention, surprise surprise not a single note regarding anything of the sort. Infact it was surprisingly empty considering the ammount they were charging me.