Bank Charges - illegal?

M_Thomson

gothicf0rm wrote:

i have exceded my overdraft limit by never more than £41.78. the total amount of days i have spent between being 1p and £41.78 in debt has been 118 days in the course of six years, for this i have been charged almost £2000, giving them a return of approximately 15000%. wanna tell me about the 15000% APR loan?
interestingly, earlier this year i tried to get my bank to extend my overdraft by £250 as i changed jobs, they refused saying "how will you pay it back?" they then levied on me over the course of three months £569 worth of charges. six months later i have no overdraft having paid it off, as well as the charges they slapped on me. these charges in turn though got me charges as i was unable to pay off the credit card to the amount i wanted to each month so i then ran up a further £243.92 in charges on that.
what is more bonkers? charging someone £2000 quid for being a little over £40 overdrawn, refusing to extend smoeone's overdraft for a few months because they say they cant afford to pay it and then charging over twice as much to them because they havent extended it over the same period they tried to get an extension. is that the sort of 'free' banking you mean M Thomson? i had no debts apart from my overdraft with them, a rapidly shrinking credit card debt that was set at zero percent for the next six years (beat that stoozers!), and most of a paid off student loan that ive paid off ever since i graduated. ive never paid a bill late or defaulted but computer says nooooooooo because there's a chance to make some easy money.
yes there are 'charges vultures' such as dchurch out there but there are also many, many people who are on the margins of financial trouble for a short amount of time who are victims of a system that exists to push them into debt to make money. you can find many of them posting on this thread, their problems have been caused and perpetuated by a system that preaches the myth that we have a 'free' banking system and without the current way of having the poor, needy or simply vulnerable for a few months, subsidise the rich then everyone will have to pay for the system.
thats !!!!!!!!, look at how mucb money banks make and the profits they make. you would rather defend this immorality, i hope to god you never spend a few months changing jobs and are a mere 41 quid short.

Hi, Did these 118 days where you were overdrawn run consecutively or did the dates vary?

dchurch24

I also have a current account in France - there are no annual fees, there are NO fees for Cheques, Standing Orders or Direct Debits - there are also NO charges for not having enough funds to pay a Direct Debit et al.

Please re-read the above quote carefully this time.

Still think I'm contradicting myself?

Right, so the people who do not incur charges but yet struggle each day to stay afloat will be happy to pay fees for everyday banking???!! You are contradicting yourself big time!!

I'm sure they wouldn't be happy, but as you stated that we would end up with banks such as the ones in Europe (where my FRENCH bank account is that does not charge fees or impose charges), I replied that I would be happy with that.
You then thanked me for having to pay for my mistakes if this happened.

M_Thomson

dchurch24 wrote:

Please re-read the above quote carefully this time.

Still think I'm contradicting myself?




I'm sure they wouldn't be happy, but as you stated that we would end up with banks such as the ones on Europe (where my FRENCH bank account is, that does not charge fees or impose charges), I replied that I would be happy with that.

I am sure there are some banks in France that do not make charges but the norm in Europe (including France) and the US is that Banks do charge for most services that we in the UK get for free such as writing a cheque etc. This is what will happen here if you carry on doing what you are doing and it will effect people who are poor yet run their accounts properly. Would you be happy with that???!!

dchurch24

If, as in France as you claim that most banks charge for everyday banking, but some do not (as I can prove), then yes I'd be quite happy with that - I'd simply use the bank that doesn't charge me (as I inadvertently appear to have done in France) - obvious really.

Just on a side note, you stated that I called you a right-winger for your point of view.

How else would someone determin someones political standing if not from their point of view? The point of view that rich people should get richer at the expence of the poor is a right-wing view.

Don't be ashamed of your political views. I'm sorry that I offended you by pointing that out.

M_Thomson

dchurch24 wrote:

If, as in France as you claim that most banks charge for everyday banking, but some do not (as I can prove), then yes I'd be quite happy with that - I'd simply use the bank that doesn't charge me (as I inadvertently appear to have done in France) - obvious really.

Just on a side note, you stated that I called you a right-winger for your point of view.

How else would someone determin someones political standing if not from their point of view? The point of view that rich people should get richer at the expence of the poor is a right-wing view.

Don't be ashamed of your political views. I'm sorry that I offended you by pointing that out.

That's rubbish and you know it. I am not rich myself and I care very much about people who have less than me. At the same time I take responsibility for myself if I make a mistake, unlike you who gets litigious at every opputunity. Having that opinion does not make me a right winger.

dchurch24

..but it is a right-wing opinion.

I get litigious with people who don't hesitate to get litigious themselves when the shoe is on the other foot.
You have to play them at their own game - the difference being that I haven't broken the law.

It has nothing to do with responsibility apart from the fact that I am making the bank take responsibility for their actions.

M_Thomson

In addition please provide me with evidence to suggest that I have said that rich people are getting richer at the expense of poor people? What you are doing will create a worse situation for poor people who run their accounts properly in the end when they all have to pay fees for everything.

M_Thomson

dchurch24 wrote:

..but it is a right-wing opinion.

LOL! If taking responsibility for my finances and accepting that if I make a mistake that is my fault is right wing then I am guilty as charged! I think you are being insulting to the left wing people who run their accounts properly!

Thanks DChurch for giving me the second funniest reply of 2006 in 24 hours!!

dchurch24

No problem - you have stated in earlier posts that if these charges are abolished then you would have to pay fees for every day banking - which you do not want - this implies that you would rather people in financial difficulty continue to subsidise those that are not.

I fail to see how charging say £3, for writing a cheque is worse than incurring charges of over £2k for going £41 over an agreed limit.

If services of this type were to be charged for, then simply don't use them if you don't want to pay for them. As is the case with every other service or product.

M_Thomson

dchurch24 wrote:

No problem - you have stated in earlier posts that if these charges are abolished then you would have to pay fees for every day banking - which you do not want - this implies that you would rather people in financial difficulty continue to subsidise those that are not.

I fail to see how charging say £3, for writing a cheque is worse than incurring charges of over £2k for going £41 over an agreed limit.

If services of this type were to be charged for, then simply don't use them if you don't want to pay for them. As is the case with every other service or product.

You have stated if I remember correctly that you had a period where your employer didn't pay you on time. Fair enough, the banks have a responsibility to help you and look at reversing the charges. There have been other things that you have mentioned where you are aware that what you are doing will incur charges yet you feel you should not have to pay them. Then you have the nerve to go and sue them when it was your fault in the first place. So people who are not that well off yet manage to run their accounts properly will end up having to pay fees. So at the end of the day when this happens all people wether rich or poor will have to pay because of your ignorance. Thanks again DChurch!