MSE News: Pre-Budget Report: Action promised on unfair bank charges

OK! Here's a bit of a non story. They won their little ruling. Yet I received today, a letter by email telling me that my bank (Halifax) will charge me £1 per day for an authorized overdraft (That's £30 per month on average, and £5 per day for unauthorized overdrafts (That's £150 per month on average)! So we lost in the courts and the banks are STILL ripping us of our flesh and souls. How in hell can they keep getting away with this? They say, "well, if you hadn't lived beyond your means in the first place, you wouldn't be in this predicament!" First off, I can say the very same thing to the banks. Secondly, what if you were made redundant and your only source of money left was your overdraft? We sometimes forget that the banks put us here and they don't seem to care about the very people keeping their heads aloft on the ocean of recession. I am still going to fight for the return of my monies no matter what! I urge every reader here to do the same. They dropped their charges so it wouldn't seem too much of a bite when they introduced their "NEW" charges. As we say in the States, there's a sucker born every minute. And the banks seem to know it.

You basically said it all right there, david.l! The charges are still there, only they're in a whole new form. And it is still illegal. Tell me this: If you went to one of the bank's ATM's and withdrew money but it gave you more money than you aksed for and you kept it, why do you have to give it back if the bank discovers this mistake? Because it is illegal to take what isn't rightfully yours. We use the banks as a service and for that, I expect to pay a service fee. Just make it fair. Don't make it another utility bill that I can't afford. This is where I stand at the moment. I cannot afford to use banks because their charges send my bills into the red. I have stopped paying off my overdraft, not out of choice, but out of necessity. I don't have much money coming in, so at the moment, food and rent are at the top of the list. Halifax is near or at the bottom. They're charging me and they'd better be praying they don't have to reimburse me, because their payback will cover my £3500 overdraft with leftover loot. and if interest is added on, I'm taking my poor family, who have gone through this struggle with me, on a nice cruise. david.l, stay strong. The banks WANT us to feel there is no need to fight on. They WANT us to give up so they can go through the roof with their charges. They WILL increase next year because of VAT and the bonuses they "need" to give their employees. We will suffer and they will prosper. We work for the banks but instead of getting a wage, we get a screw! I know Martin is still !!!!ed, but he started this fight and we have to back him for something good to come out of it. I don't care if Halifax keeps my money for 10 more years. I will be on their asses with a letter every month for ten years. They will know me well! They will get so tired of me sending letters all over their banking system that they will want to get me out of their hair...and I'll write about it right in this blog.
P.S. Think about all of the things in this world that wouldn't have gotten done if someone didn't fight for their rights.
...And THANKS MARTIN! You started something. You made us aware that we were being wronged. Don't get too discouraged. It'll happen when it's supposed to happen.