How will reclaiming bank charges impact banking discussion

I have to have my say here,
I have always managed my bank accounts very well until I had my son and my employers stopped my maternity benefits for one reason or another something I am still trying to sort out - I had two accounts with my bank funds in one account which was an online saver and the other was empty I forgot to transfer some funds into that account as I wasn't recieving pay from work and was hit with a number of charges yet I had funds in another account with them, so yes I do disagree with them charging me large sums of money when I am a good customer and was having problems with my employers through no fault of my own.
I think some of you need to remember that it is not always someones choice to go overdrawn and incurr charges, sometimes it is unavoidable and we should be looking at a way of helping those people not punishing them.
I dont disagree that some people do manage their money badly and simply dont care about the effects but dont tarnish everyone with the same brush!

adam_NI wrote: »

i would disagree that you've saved me any money on this front!
i've had a bank account with halifax since i was 17, this includes my crazy student years, and i have never been charged! now thanks to what i believe the incorrect 'claiming back of charges', i will be at loss when surely all banks follow suit to First Direct and will introduce a monthly fee!
its just typical of British economics, you work hard and seem to be worst off! i would believe a visit to the cinema is a rip-off, but i dont claim the cost back because i think it was unfair!

the bottom line is this "dont spend beyond your means!". you shouldnt expect the bank to run your account for you, you avail of a free banking service and facilities, the bank is not a charity, therefore if you spend what isnt yours you should be charged!!
there are 1000's of people who pay no attention to their balance, and because of essentially nothing other than lazyness, they continue to receive charges! i certainly agree charges are high, but surely someone else but me can see if you were charged a few times, you'd catch yourself on, manage your money better, rather than continue to ignore the problem!

i would love to hear anyone's comments on this, everyone is entitled to their opinions on any matter! but i dont look forward to my monthly banking charge thanks to all you lazy people!!1

Whitedove wrote: »

Hi Adam,
How right you are! If you do not have enough money in your account then arrange an overdraft. If you take money from a bank and it does not belong to you or has been agreed that they will lend it to you then you are stealing! If you steal money from a bank you are stealing from those of us who have money saved there. If you steal money from me then I expect you to be punished. Everyone is aware of the rules and aware of the extreme punishments inflicted. If you don't want to be punished don't steal the money.

Honestly, I'll lend you guys some of the money that I reclaimed, maybe you could invest in a clue..
You have a choice about buying stuff at a cinema, you do not have a choice about having a bank account. It is obligatory if you want to have a job. All banks do the same thing, it is simply something you are forced to put up with or try to find a job that pays cash. Not many of those about these days.
A bank could simply refuse the transaction if there are not enough funds, then there would be no problems. I would be perfectly happy to pay the costs to another party if my oversight cost them money. However, a bank uses this situation as a means to extort vast sums from those who could least afford it.
Nobody stole any money, that is just plain ridiculous.:rolleyes:

If you just want to look at it in black & white, then so too can I.
I believed my bank acted unlawfully in profiting from my contractual breach so I took them to court. They simply had no defence so they paid it all back.

Those who believe that people who have reclaimed will be responsible for the end of "free banking" really have a fundamentally flawed argument. Here they are moaning & whinging that "if banks can't charge you, now I'll have to pay for my banking all because you couldn't stay within your limit".
Think about it, if everybody had stayed within their limit, and these charges did indeed fund your banking, you would have been paying for it long ago. You have, by definition, benefited from their behavior, yet you're moaning about it.

This is of course assuming that bank charges are indeed what fund free banking. This is really just spin. We are forced to lend our entire salary to a bank before we can have it, from which they already make vast profits. They don't need these extortionate charges to make in-credit banking free.

Nobody stole any money, that is just plain ridiculous.:rolleyes:

If you just want to look at it in black & white, then so too can I.

That is a Smasher, I would suggest that looking at it in black & white is just what is required. The problem only arises when it is looked at in, unauthorised, red.
I am pleased for you, that you managed to get a refund from your bank, they must have believed that they treated you unfairly or they would have not given you the money back.
Spending money that you do not have and have not borrowed can only be classed as stealing. If you filled up your fuel tank and then told the garage that you had made an error and did not have any money with you what do you think that would be classed as?

If you're going to accuse someone of being a thief you could at least get your facts straight. You cannot spend money you do not have, cash points and card payments don't work if you haven't got the funds in. The only thing that can push you over your O/D limit is bank charges, the old double-whammy.

A couple of months ago a direct debit of mine was due to go out. After getting my car fixed I didn't have enough money left in my account to pay it, it should have been £35. The bank refused to pay the DD and instantly charged me £38 for doing so, which took me beyond my OD limit for which they charged me another £28. You think that makes sense, do you? Do you? Do you think that makes sense? That there wasn't enough funds to pay £35 but they charged me £38 to NOT pay it, then hit me again for £28 to pay for going over my OD when I had no control over it? Oh and I still had to pay the £35 direct debit. So that's £66 I had to pay for being £3 short of paying a bill.

If you think that makes sense I suggest someone buys you a new straitjacket for Xmas.

I now see your problem, Knackered. You seem to think that it is OK to have your car serviced and pay the garage from an empty bank account. You could have written them a cheque, without money in your account that would have been just as bad and irresposible.
It is not possible to keep on spending once you have passed your overdraught limit and expect the bank to pay your bill.
I do agree that the amount they charge you does seem to be over the top but if you only spent the money that you have then you cannot go overdrawn.
Thinking that other people are stupid for only spending what they earn is not going to help you get out of financial difficulties. I can see that the bank compound this by making you even more in debt but the solution has to be to STOP SPENDING money you do not have.