MSE News Story: Bank Charges House of Lords hearing starts today

natweststaffmember

claretmatt wrote: »

Nice to see that responsible people will be punished for the actions of the irresponsible

http://www.citywire.co.uk/adviser/-/news/other/content.aspx?ID=346330&Page=2

Do you believe that everyone who receive charges started by looking for a bank account that will charge them the most? I am lucky enough to be one of the likely punishable persons since I have never had a charge on my main account. I never opened a bank account with the purpose of incurring charges but not every single person are irresponsible, some people do like to feed their kids over their household bills, some people lose their jobs meaning that they are unable to meet their basic needs. Some people believed the bank were being helpful offering credit to alleviate their financial problems(and being a former banker, products sold=£££££ for me so yes the right advice was always given to the customer--yeah, right!).
There are simply "the responsible" and "the irresponsible", had banks acted within the legal framework of the law then they would not have the issues that they have today. I would still be working for them as well (not sure if that is a good thing or not ).

robpw2

i dont disagree with paying a charge for making a mistake but its about proportionality
if you go over by 1p then £39 is extremlely excesive

besides what is the £39 for this is the problem .. they don't seem to be able to explain why it cost so much and yet year on year banks are making huge profits \(this year i know this has isnt so true)

Widelats

MrLeeLee wrote: »

'but it's likely the decision from the judges won't be made for several months, possibly not until October'

-sighs-

I can't see for the life in me what makes them take so much time to make a decision. I truly, truly hate the courts and their time frames for a yes or no, it is beyond me.

natweststaffmember

Widelats wrote: »

I can't see for the life in me what makes them take so much time to make a decision. I truly, truly hate the courts and their time frames for a yes or no, it is beyond me.

have you ever made a decision on the spot and wished you had taken time to think about it and do something else? This is kinda the same thing, however, the verbal argument is one element to the case and the evidence submitted is another one. Furthermore, they also have other cases as well. It is frustrating but it has to be done for legal certainty

Gorgeous_George

The wheels of Justice turn slowly.

The Court will decide whether or not the charges were unfair My opinion is that they were not (unfair) and that an unauthorised overdraft is tantramount to theft. On the other hand, charging more than is necesary so that the errant customer remains in downwards spiral is unhelpful and not how I would want to be treated. Therefore I would not treat others in such a way.

I do not accept that anybody had to go overdrawn. They either chose to or they chose not to make sure that they didn't (go overdrawn). The banks should have charged the fee once and closed the account for a second offence.

If the banks lose, it will be a sad day. I'd rather see new guidelines (or laws) introduced to ensure a fairer system is put in place but claims should not be allowed retrospectively.

I fear the taxpayer will end up paying the compensation but wish all MSEers well in their quest. In my younger days, I paid bank charges most months. It was my fault.

My name is George and I am (or was) a debtaholic.

GG

thefly76

nonsense!!! of course to charge £36 for a error that cost a tenth of it to correct is unfair. that is more like theft than going a quid over your limit!! due to ill health last year i couldnt make mortgage or cc payments and it tookmonths for any of my health insurance policies to pay out by which time it was eaten up by charges. Fair??? i think not!!!

Gorgeous_George

Maybe so.

I was fined £30 for parking in a car park but failing to buy a ticket. A ticket would have cost 50p. Can I claim it back?

I was fined £60 for speeding at 35mph (safely) in a 30mph zone. Can I claim it back?

Of course, the answer is no. Life doesn't have to be fair.

GG

DjDarryL

Ive gone through hell with Lloyds TSB. Statment everymonth and at the bottom... we will debait £250 as of the 1st next month. now im using a joint account and my main one is over 1000 in debt because of CHARGES!!! phone calls 3 times a week from bank but foot down and get my money back that ive been charged hundreds a month! disgusting

oscar52

Gorgeous_George wrote: »

I was fined £60 for speeding at 35mph (safely) in a 30mph zone. Can I claim it back?
GG

If you consider this to be safe, I suggest you go and read the Highway Code - pay attention to the bit about "braking distances" - see how much difference 5mph makes.

If you still consider it to be safe, put your name, address and driving license details on here - I'm quite sure someone will be interested in a person who continually flauts and has total disrespect for the law.

simon_templar_2

In modern cars with their fancy brakes i doubt 5mph makes any difference.