Bank Charges Reclaimed

[Easy 10]

Why not make the charge realistic and in line with the amount of "taking the p*ss" that is occuring?

Cos you're dealing with computers which apply automated charges. Same for everyone, as per the Terms & Conditions when you open the account. Whether you're a long-standing customer who has been with the bank for donkeys years and never goes overdrawn, or a fly-by-night chancer who's finances are all over the shop, in terms of charges levied, everyone is treated equally. They have to be. And it has to be enough to put people off taking the mick - because a lot of people will do exactly that.

Course when it comes to how much leaway you get with the bank when you ask them to waive a charge, it'll largely depend on your previous account conduct (unless the lawlords still override this anyway).

Anyhoo, I'm not preaching anything. You run your account how you see fit. I'm just giving the banks point of view on this, as I used to be on the other end of the phone dealing with this kind of thing. And the number of people who blame everyone and everything except themselves for the state of their bank account never ceased to amaze.

 

[Safeway]

I'm not here to be preached at. I understand that it's wrong when I've let it go over the overdraft, I started this thread to hear stories of other people successes or failures, not be told how to handle my account.

Sorry if that sounds flouncy.

:safeway2:

IMHO if you manage your finances so piss-poorly as to run up over £1,700 worth of bank charges then you don't DESERVE to get them back.

 

[BensGrandad]

Why not make the charge realistic and in line with the amount of "taking the p*ss" that is occuring?

That is the base idea of the OFT in their case against the banks. All claims are on hold except for those suffering severe financial difficulties until the Law Lords reveal their decision, which is expected in October/ November. However people should still put their claims in now and the bank will acknowledge the receipt and put them onhold until the decsion is made. Incidentally according to MSE this is the banks last chance of an appeal.

 

[Mellotron]

I understand. But it's because the banks have put the charges so astronomically high that people have been claiming them back over the last few years, it's come back to bite them. If they'd put the charges at a reasonable level this wouldn't have happened.

Regarding the Ts & Cs, it's the same as someone telling you they are going to punch you in the face before doing it, doesn't make it any more correct.

What do you mean by people taking the mick? I don't see how it negatively affects the bank.

 

[Mellotron]

:safeway2:

IMHO if you manage your finances so piss-poorly as to run up over £1,700 worth of bank charges then you don't DESERVE to get them back.

Haha. Oh well, shame I'll probably get them back then eh?

 

[Mellotron]

That is the base idea of the OFT in their case against the banks. All claims are on hold except for those suffering severe financial difficulties until the Law Lords reveal their decision, which is expected in October/ November. However people should still put their claims in now and the bank will acknowledge the receipt and put them onhold until the decsion is made. Incidentally according to MSE this is the banks last chance of an appeal.

I've had a read up and plenty of people are still getting settlements. I will probably accept anything above £1,000 I reckon as I can't be bothered to claw back all my money from them.

 

[Beach Hut]

Haha. Oh well, shame I'll probably get them back then eh?

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.

 

[Safeway]

Haha. Oh well, shame I'll probably get them back then eh?

 

[Safeway]

I will probably accept anything above £1,000

Well isn't that big of you!

 

[Mellotron]

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.

This is ridiculous. None of you know anything about my personal situation, when that Ninja lad came on here with his story everyone was incredibly supportive.

I said in the OPENING POST that I had overspent and I completely accepted that. But how that paints the money-grabbing banks as the GOOD guys I have no idea.

Beach Hut, how much do I make a month? And what are my outgoings? Do I have a mortgage? Did I break my arm making my lose my job?

Exactly.

 

[Easy 10]

I understand. But it's because the banks have put the charges so astronomically high that people have been claiming them back over the last few years, it's come back to bite them. If they'd put the charges at a reasonable level this wouldn't have happened.

Regarding the Ts & Cs, it's the same as someone telling you they are going to punch you in the face before doing it, doesn't make it any more correct.

What do you mean by people taking the mick? I don't see how it negatively affects the bank.

People taking the mick by running up a balance on an unauthorised overdraft which they cannot pay or have no intention of paying
People taking the mick by writing numerous cheques and guaranteeing them, when the funds are not there to cover them
People defaulting on loans they cannot or had no intention of paying back (banks equally culpible here for stupid lending, mind)

All this stuff leads to Bad Debt - and believe me, bad debt negatively affects banks, it negatively affects ALL businesses.

As for the Ts & Cs - if you don't agree to someone punching you in the face, then don't sign a contract that says you agree to them doing it.

 

[seagullsovergrimsby]

They should introduce two classes of current accounts , one which is free for those who manage their account properly , never go overdrawn and are model customers. The second would be for those who cannot manage a current account as cheques bounce , direct debits are refused due to insufficient funds and the account is on the whole overdrawn , this type of account would attract a monthly fee to sort out the indiscretions.

 

[Mellotron]

People taking the mick by running up a balance on an unauthorised overdraft which they cannot pay or have no intention of paying
People taking the mick by writing numerous cheques and guaranteeing them, when the funds are not there to cover them
People defaulting on loans they cannot or had no intention of paying back (banks equally culpible here for stupid lending, mind)

All this stuff leads to Bad Debt - and believe me, bad debt negatively affects banks, it negatively affects ALL businesses.

As for the Ts & Cs - if you don't agree to someone punching you in the face, then don't sign a contract that says you agree to them doing it.

Then why have banks been so READILY encouraging people to SPEND SPEND SPEND over the last 10-15 years. GET INTO DEBT, it's FINE! Buy NOW, Pay LATER!

You cannot make the banks look like good guys here, it's impossible.

For the record, I have never taken out a loan, I've never had a credit card before. I generally look after my finances fairly well. The amount in charges just shows how stupid the charge amounts are. They affect far more regular working people than shysters I'm sure.

 

[BensGrandad]

I've had a read up and plenty of people are still getting settlements. I will probably accept anything above £1,000 I reckon as I can't be bothered to claw back all my money from them.

Those getting paid out are the ones who have accepted a lower figure than they have paid. If you can afford to wait you should get it all repaid eventually but as other have said it will mean the end of free banking,not that that will worry you.

 

[Mellotron]

Those getting paid out are the ones who have accepted a lower figure than they have paid. If you can afford to wait you should get it all repaid eventually but as other have said it will mean the end of free banking,not that that will worry you.

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.

 

[Beach Hut]

They should introduce two classes of current accounts , one which is free for those who manage their account properly , never go overdrawn and are model customers. The second would be for those who cannot manage a current account as cheques bounce , direct debits are refused due to insufficient funds and the account is on the whole overdrawn , this type of account would attract a monthly fee to sort out the indiscretions.

Couldn't agree more.

Oh I ran up a debt can someone else pay for it and I'll keep what I purchased without having the funds as well.

 

[Beach Hut]

I generally look after my finances fairly well.

£1,700 in charges I would hate to know what wreckless people might rack up

 

[seagullsovergrimsby]

The banks will need to make their money from another source which means the end of free banking and them paying interest when you are in credit.

 

[Easy 10]

Then why have banks been so READILY encouraging people to SPEND SPEND SPEND over the last 10-15 years. GET INTO DEBT, it's FINE! Buy NOW, Pay LATER!

You cannot make the banks look like good guys here, it's impossible.

For the record, I have never taken out a loan, I've never had a credit card before. I generally look after my finances fairly well. The amount in charges just shows how stupid the charge amounts are. They affect far more regular working people than shysters I'm sure.

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.

 

[Mellotron]

Couldn't agree more.

Oh I ran up a debt can someone else pay for it and I'll keep what I purchased without having the funds as well.

I didn't run up a debt, where did you get that from?

I occasionally went a tiny bit of my overdraft, for that I got RAPED in charges.