what is a "fair" unpaid Direct Debit charge?

Orford

Nathan_Spleen wrote: »

Certainly not the 166 cans of beans you'd get from Tesco for it.

And Club points too!!

Sol00

willo65 wrote: »

Why?

It costs Tesco about 7p for a tin of beans but they charge me 21p not 7p.

I assume you're asking why they should only be charging the cost?

The whole issue with bank charges is that it is believed to be an unfair term in the T&Cs due to the amount they charge. Charges are simply that, charges. No profit should be made from them, except for the actual cost incurred by the company.

Sol00

custardy wrote: »

i got a bank charge last month,im not whiter that white
work screwed up my overtime,i had counted on it and was £6 short of a DD
boom £35 charge
it was unavoidable for me but i accept it was my fault.i feel £10 is more realistic.
same as the charge VM laid on me for the late payment via the failed DD
however i stand by a £2.50 charge is too low. people would just not worry about meeting DD's etc
i think your death penaly analogy is a little extreme why do parking fines exist then? surely we should just be allowed to pay the parking we never paid if we get caught?

Going by that logic they would continue to be penalties, so what's really the point in this action?

I agree that if people abuse their accounts then the bank should act to protect themselves, however, overcharging customers is not the way.

proeleche

As far as I'm aware, some of the basic bank accounts will just cancel direct debits if they bounce a certain number of times. Perhaps all accounts should be the same - three strikes [within a certain period of time] and you're out. This way the banks are not losing out, have a penalty, and there are repercussions for the continually irresposnsible or those who don't care. And this way the penalities aren't literally taking food of the tables of the most vulnerable in society; and taking the p*ss out of the rest of us for having made an error.

I stand by that they should only charge what it actually costs them and if somebody borrows unauthorised moneys, they should be charged interest on that, even if it is a high rate.

proeleche

And can i also say that for the most part, parking fines exist to raise revenue for local governements.

They're vultures - you should have seen them in my area in London as soon as it hits 8 o'clock in the morning.

And if you've seen some of the programmes of TV, a large number of local authoritties don't even properly follow their own bi-laws and as a result a lot of parking fines are quite easily challengable.

I really don't agree that everyone should be treated as a criminal for not following the rules of the nanny state and should thus be 'penalised' [in their wallets] as a result.

posted_2

They've got to pay for all those interest free student accounts somehow.

Sol00

Free student accounts?

proeleche

posted wrote: »

They've got to pay for all those interest free student accounts somehow.

LOL - what a ridiculous comment. If this person knew anything about anything they'd know that banks make money from all accounts regarless of the balance.

And may I also say, how dare you assume I had any sort of credit from the bank! Which is what you meant by your comment!

My parents gave me a monthly amount and I also worked so I could have a decent lifestyle whilst I was a student and not get myself into a ridiculous amount of debt. Like many others, I did not and do not have a huge amount of surplus funds to cover every eventuality.

And the above point merely proves my point of others coming into the forums to criticise and be ignorant.

Bank's should not lose money due to peoples' ignornace or mistakes but they should not 'penalise' - charges shuould be fair, reasonable and proprtionate.

The stupidity, ignorance and total lack of respect and manners astounds me!

natweststaffmember

proeleche wrote: »

LOL - what a ridiculous comment. If this person knew anything about anything they'd know that banks make money from all accounts regarless of the balance.
You gotta explain this one and how the bank makes money on the overdraft.
And may I also say, how dare you assume I had any sort of credit from the bank! Which is what you meant by your comment!

My parents gave me a monthly amount and I also worked so I could have a decent lifestyle whilst I was a student and not get myself into a ridiculous amount of debt. Like many others, I did not and do not have a huge amount of surplus funds to cover every eventuality.

And the above point merely proves my point of others coming into the forums to criticise and be ignorant.

Bank's should not lose money due to peoples' ignornace or mistakes but they should not 'penalise' - charges shuould be fair, reasonable and proprtionate.

The stupidity, ignorance and total lack of respect and manners astounds me!

Student accounts are loss making accounts. You make no money on an interest free overdraft.

willo65

Nathan_Spleen wrote: »

At least you get a tin of beans for your 21p.

I'd be interested to know what you think you get for paying £35 for your bank not paying a direct debit. Certainly not the 166 cans of beans you'd get from Tesco for it.

Yes but if tesco can charge 3x the cost of the beans why can't the bank charge 3x the cost?