Bank Charges Reclaimed

[Barrel of Fun]

As stated it really is not that hard to live within your means.

It is not such a black and white situation, is it?

There are plenty of people that are self-employed whom rely on payments to make payments and so on. Rely on other people to be prompt.

What about those that are running a business, but struggling in a time of depression? Do you think a fee of £35+ is fair for going over their overdraft limit? Even by a fraction of that sum?

All very well getting all high and mighty about this sort of thing, but there are plenty of people trying to stay afloat, running a business and they are being grouped together with those that are callous with their finances.

Anyway, why should banking be free? Nothing is free in life.

It is not always about 'living within your means'.

Besides...

“It takes no imagination to live within your means.” - Francis Ford Coppola

 

[Half Time Pies]

Don't bounce cheques - No bank charges
Don't go overdrawn - No bank charges
Make sure DD clear - No bank charges
Don't live beyond your means -No bank charges
And Watford Zero is right if it is a one off and you made a cock up, phone your bank apologise and 9 times out of 10 they will refund the charge anyway
Simples

This is all very well but unfortunately some of us live in the real world!
The simple fact is that banks have been issuing 'penalty charges' that they are not legally entitled to claim.
The Banks all know that they are going to lose but are trying to delay this whole thing until the worst of the banking crisis is over.
They have been taking the piss out of the consumer for far too long, making billions of pounds of profits unchallenged and we are all now suffering from the results of their greed.
Lets not forget that many of the people that have been defaulting are struggling to keep up the repayments on loans (including expensive payment protection insurance) and mortgages that were at best irresponsibly lent or at worst completely miss-sold. Or perhaps they have lost their jobs and can no longer make ends meet due to the recession caused by....the banks!

 

[Mellotron]

Banks clearly arn't whiter than white, we've all seen the ludicrous lending decisions that have screwed the economy, I'm not defending that.

But you're asking why bank charges are so high, and why are they such a rip-off.
I'm just giving you the banks side of things. There's a reason why they don't just give a tap on the wrist for people who use money or attempt to use money that isn't there for them to use.

Bank charges are ENTIRELY avoidable.

I am now aware of that, and as I said I have been a lot more careful with my finances, particularly recently. I have cut back almost completely on my spending. This is NOT about my spending. I am NOT in debt.

I started this thread just looking for advice from other people that have done the same, I really didn't expect all this. Bit disappointing, to be honest.

 

[BensGrandad]

This is getting ridiculous. I'm not some money-hungry megalomaniac. I'm a regular bloke.

I've NEVER taken out a loan.
I've NEVER had a single credit card.
I've always tried to live within my means, I have cut back a lot these last few months.

Occasionally I go about 0.16p over my overdraft. Apparently that makes me Public Enemy Number One.

I pay a monthly fee for my banking.

I am not having a pop at you just giving the facts as I have read them. I personally wouldnt be worried if the banks charged a fee for me having a current account. When I had a pub they charged enough to transfer money from their Guildford branch to their Epsom branch via computer.

 

[Beach Hut]

It is not such a black and white situation, is it?

There are plenty of people that are self-employed whom rely on payments to make payments and so on. Rely on other people to be prompt.

What about those that are running a business, but struggling in a time of depression? Do you think a fee of £35+ is fair for going over their overdraft limit? Even by a fraction of that sum?

All very well getting all high and mighty about this sort of thing, but there are plenty of people trying to stay afloat, running a business and they are being grouped together with those that are callous with their finances.

Anyway, why should banking be free? Nothing is free in life.

It is not always about 'living within your means'.

Besides...

“It takes no imagination to live within your means.” - Francis Ford Coppola

Running a business or self-employed through choice - bigger risk but bigger reward

 

[Mellotron]

This is all very well but unfortunately some of us live in the real world!
The simple fact is that banks have been issuing 'penalty charges' that they are not legally entitled to claim.
The Banks all know that they are going to lose but are trying to delay this whole thing until the worst of the banking crisis is over.
They have been taking the piss out of the consumer for far too long, making billions of pounds of profits unchallenged and we are all now suffering from the results of their greed.
Lets not forget that many of the people that have been defaulting are struggling to keep up the repayments on loans (including expensive payment protection insurance) and mortgages that were at best irresponsibly lent or at worst completely miss-sold. Or perhaps they have lost their jobs and can no longer make ends meet due to the recession caused by....the banks!

Finally! Thank you.

As previously mentioned, I think you all have the wrong idea of me. I have no credit cards, don't use finance, don't use loan. I'm not a buy now, pay later person at all. I detest that sort of mindset.

 

[Beach Hut]

Banks raise charges to make profits which generates income paid back to Government as corporation tax.

The Government is making a very serious error in attacking them at present, reduce their profits and UK can remain overdrawn forever.

 

[Half Time Pies]

Don't bounce cheques - No bank charges
Don't go overdrawn - No bank charges
Make sure DD clear - No bank charges
Don't live beyond your means -No bank charges
And Watford Zero is right if it is a one off and you made a cock up, phone your bank apologise and 9 times out of 10 they will refund the charge anyway
Simples

This is all very well but unfortunately some of us live in the real world!
The simple fact is that banks have been issuing 'penalty charges' that they are not legally entitled to claim.
The Banks all know that they are going to lose but are trying to delay this whole thing until the worst of the banking crisis is over.
They have been taking the piss out of the consumer for far too long, making billions of pounds of profits unchallenged and we are all now suffering from the results of their greed.
Lets not forget that many of the people that have been defaulting are struggling to keep up the repayments on loans (including expensive payment protection insurance) and mortgages that were at best irresponsibly lent or at worst completely miss-sold. Or perhaps they have lost their jobs and can no longer make ends meet due to the recession caused by....the banks!

 

[dougdeep]

How on earth do people run up bank charges? Don't think I ever have.

 

[Beach Hut]

They have been taking the piss out of the consumer for far too long, making billions of pounds of profits unchallenged and we are all now suffering from the results of their greed.QUOTE]

Total bollox of the highest order - fact, many people are considerably better off in this current recession as interest rates are so low and goods cheaper.

 

[Barrel of Fun]

Running a business or self-employed through choice - bigger risk but bigger reward

Certainly not always through absolute choice and certainly not always a bigger reward. Some people choose to do something that is a passion or just to operate as opposed to being a drone in an office, but that does not mean that they should be unfairly punished if there is a cock-up on the finance front.

Small businesses should be encouraged. I am sure most people on here work for a company that began life as a small business.

 

[Half Time Pies]

They have been taking the piss out of the consumer for far too long, making billions of pounds of profits unchallenged and we are all now suffering from the results of their greed.QUOTE]

Total bollox of the highest order - fact, many people are considerably better off in this current recession as interest rates are so low and goods cheaper.

Tell that to the 2.43 million unemployed and climbing. The highest rate for 13 years.

Glad you are 'alright jack'!

 

[Barrel of Fun]

How on earth do people run up bank charges? Don't think I ever have.

I refer you to my previous post...

"It takes no imagination to live within your means".

Besides which, things have moved on a bit since you started work and bought a house. There are plenty of people that are laden with debt and are having to pay that off, whilst facing high payments for an acceptable standard of living and to put a roof over themselves.

 

[Beach Hut]

Tell that to the 2.43 million unemployed and climbing. The highest rate for 13 years.

Glad you are 'alright jack'!

Rubbish yet again I suspect you probably are unaware of the crippling interest rates mortgage holders endured of around 15%.

What goes around comes around financially as well these days, third recession for me

 

[Chesney Christ]

I'm not here to be preached at.

This is North Stand Chat.....

 

[Half Time Pies]

Rubbish yet again I suspect you probably are unaware of the crippling interest rates we endured of around 15%

What about my last statement was rubbish?? That unemployment is 2.43 or that it is the highest it has been for 13 years?

What point are you trying to make about interest rates?

 

[Chesney Christ]

Glad you think of all those that manage their finances in an orderly way and may well have to pay for banking now as opposed to free banking previously.

As stated it really is not that hard to live within your means.

People have been banging on about that for ages. Its actually rubbish, and the banks have no intention whatsoever on doing so, nor were they ever. It is hearsay and conjecture. Oh, and horseshit.

 

[Beach Hut]

What about my last statement was rubbish?? That unemployment is 2.43 or that it is the highest it has been for 13 years?

What point are you trying to make about interest rates?

Neither the fact that you make a sarcastic I'm all right jack comment and also said we are all suffering for the banks greed.

The fact is many are not and are much better off at present.

The point about interest rates is it meant many of my friends had houses repossesed when they were sky high therefore don't bleat about times now as being so hard they've been as hard before.

 

[Half Time Pies]

Neither the fact that you make a sarcastic I'm all right jack comment and also said we are all suffering for the banks greed.

The fact is many are not and are much better off at present.

The point about interest rates is it meant many of my friends had houses repossesed when they were sky high therefore don't bleat about times now as being so hard they've been as hard before.

Whether things were bad in the past is irrelevant the fact is people are suffering as a result of the banks and their irresponsibility.

The whole country collectively is suffering from mounting dept that may take more than a decade to get back under control.
Interest rates have only been kept artificially low to stop rising inflation and try to stimulate lending and now we face the prospect of deflation.
When you couple this with the future effects of quantatitive easing (which has just been increased to £175 billion), huge personal and public dept, the prospects of large cuts in public spending and the demographic time-bomb it is very possible that the effects of this recession will be felt for the next 15 years.

Other than that everything is fine!