HSBC Changing all Bank accounts

ahai1

I agree with what was said earlier some people are abusing the system to make money out of the banks over the overdraft charges. The banks should take a stronger stance against them. I disagree with Martin in that we don't have free banking. We have free banking for customers who play by the rules and don't abuse the system. I think that Martin should have considered the impact before he started to get people back all their money from the banks.

As for the staff to be fair to HSBC at my branch you have to wait for customer service staff just like the cashiers.

ShelfStacker_3

ahai1 wrote: »

I agree with what was said earlier some people are abusing the system to make money out of the banks over the overdraft charges. The banks should take a stronger stance against them.

The worry that "they might close my account if I claim" annoys me. I just think "well, of course they will, you're known for not sorting your finances out and you've just got £largesum plus interest out of them because of your own ineptitude. You've pretty much f*cked your relationship with them, why should they want you as a customer?" The attitude appears to be that people are entitled to bank accounts which they then manage like crap, because they're entitled to go over any limits set for them and the bank is entitled to stick any means of stopping them where the sun doesn't shine. Which is obviously not the customer's backside, because the sun obviously shines out of there, it's just the evil banks who are the problem.

I'm more in favour of the line the Co-Op take now, and the same one HSBC do with their basic accounts, three overlimits/returned payments and the account is closed. Might give some people a bit more pause for thought as to why they expected to be able to get away with taking what isn't theirs.

Inactive

I agree with all of that SS.

The only proviso I would make is; why did the banks let it happen in the first place?

Certainly in Spain, if you don't have authorised funds, payments are simply declined by the banks, no argument.

ShelfStacker_3

Inactive wrote: »

The only proviso I would make is; why did the banks let it happen in the first place?

Presumably because the fees subsidised free banking for people who aren't irresponsible, whereas in Spain (and indeed most other countries) they don't need that revenue because accounts are charged for. As far as I'm concerned, the classing of overlimit facilities as services, while defensible from a legal point of view, is just dancing around the issue that free banking isn't sustainable when large swathes of the population aren't financially responsible.

Inactive

ShelfStacker wrote: »

As far as I'm concerned, the classing of overlimit facilities as services, while defensible from a legal point of view, is just dancing around the issue that free banking isn't sustainable when large swathes of the population aren't financially responsible.

Agreed 100%.

ahai1

I agree about the accounts of people who cannot manage them should be closed. The thing if we were to be critical of people like Martin and some of the others behind it is that while they understand the issues they are not bothered about the long-term consequences. It is insulting to say we don't get free banking when we do get it but the people who pay for it are the people who cannot manage it.

Those people should be putting more time and effort into educating people then encourging them to get money back from the banks which they were fairly charged. They are the kind of people who cause cheques to bounce and don't have enough money to pay off all the direct debits. The only time I used my OD was when I had a 14 day free one and I knew for certain I was getting money in to pay it off.

Lokolo

Thing is - with all of this, what happens if banks end up not being allowed to charge the way they do?

ahai1

It means we all suffer due to some people not been able to manage their money.

Lokolo

ahai1 wrote: »

It means we all suffer due to some people not been able to manage their money.

B*astards! (ironic that I am £600 into my overdraft, but I am stoozing my money! )

ahai1

The banks should give better advise to students. I remember when I was one it was goodies all over the place.