MSE News: Guest Comment - Bank charges fight still alive

Former_MSE_Guy · 20 May 2011 at 11:30AM

This is the discussion thread for the following MSE News Story:

"Bank charges reclaiming has largely fallen off the radar but Mike Dailly, from the Govan Law Centre, says it's not over ..."

Read the full story:
Guest Comment: Bank charges fight still alive

Milarky · 20 May 2011 at 1:10PM

A clear and informed comment piece. Well done MSE. But it suggests, surely, that banks will remain dilatory in their approach to the application of the concept of 'fairness' - only moved to change or scrap current practices at the last minute - when they can hear the crowd at the door. Banks don't do 'proactive' it seems.

Consumerist · 20 May 2011 at 1:29PM

Is the writing on the wall for an end to the "free banking" lie?

Hanky_Panky · 20 May 2011 at 1:43PM

What a crock !!

Very little in the way of substantiated content, largely heresay, guesswork and plain old mis-information.

Consumerist · 20 May 2011 at 2:31PM

Hanky_Panky wrote: »

Very little in the way of substantiated content, largely heresay, guesswork and plain old mis-information.

What in the article was misinformed?

vikingaero · 20 May 2011 at 2:31PM

As someone who works for a European bank, I find the UK concept of free banking to be wrong, especially if it's subsidised by the often poorer sectors of society. All customers should pay a monthly fee for use of a banks services. Customers often bleat that the money held by a bank is THEIR money and don't want costs to withdraw it - yet the costs of this provision are huge.

Consumerist · 20 May 2011 at 2:49PM

vikingaero wrote: »

. . . I find the UK concept of free banking to be wrong, especially if it's subsidised by the often poorer sectors of society.

Couldn't agree more.

Consumerist · 20 May 2011 at 2:57PM

vikingaero wrote: »

Customers often bleat that the money held by a bank is THEIR money and don't want costs to withdraw it - yet the costs of this provision are huge.

Well, it is THEIR money.

We, the public, have been forced into using the banking system, whether we like it or not, by government (e.g. benefit payments) and employers (e.g. salaries) alike. This has been to save them money, not us; why should we pay to have access to our incomes. Other services, I accept, we should pay for on a fair and equitable basis rather than the brunt being borne by the less affluent in society.

taxsaver · 20 May 2011 at 7:47PM

Is it just me or does the guy in the picture look more like a scruffy, dodgy wide-boy than a solicitor?

Consumerist · 20 May 2011 at 7:52PM

taxsaver wrote: »

Is it just me or does the guy in the picture look more like a scruffy, dodgy wide-boy than a solicitor?

What does a solicitor look like?

*MF* · 21 May 2011 at 9:45AM

Lord Turner and Hector Sants of the FSA, and members of the Treasury Select Committee have been, and are being given, factual evidence that supports the arguments given by Mike Dailly.

The future of banking, not just this question of charges, may depend on how the recent report by the Independent Commission on Banking is taken forward.

The ICB in fact mention the Supreme Court decision over charges, and they too are now being presented with the necessary evidence - indeed via the evidence being presented the arguments are being developed further, into the areas of free if in credit banking etc.

The evidence is in part being drawn from a blog on this whole subject - for more details see this earlier MSE post:

http://forums.moneysavingexpert.com/showpost.php?p=37346388&postcount=2

MSE News: Guest Comment - Bank charges fight still alive

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