Martin Lewis
MoneySavingExpert Chair, Martin Lewis · Editor, Marcus Herbert

MSE Forum

NOW OPEN: the MSE Forum 'Ask An Expert' event. This time we'd like your questions on TRAVEL & HOLIDAY DEALS. Post by Wed and deals expert MSE Oli will answer as many as he can.

MSE news: Tories brand bank charges "unfair"... how far will they go?

in Reclaim bank & credit card charges
15 replies 2.4K views
Former_MSE_GuyFormer_MSE_Guy Former MSE
1.7K Posts
I've been Money Tipped! Newshound! Chutzpah Haggler
in Reclaim bank & credit card charges
This is the discussion thread for the following MSE News Story:

"The Tories have today declared bank charges "unfair" in the party's white paper on financial regulation.

It is believed to be the first time a major political document has taken such a tough stance on charges of up to £39 a time for going just a penny over your overdraft limit ..."
Read the full story:
Tories brand bank charges "unfair"... how far will they go?


OfficialStamp.gif
«1

Replies

  • WidelatsWidelats Forumite
    3.8K Posts
    They only say this as they know the vast majority of people are very angry about it = more votes for them at the election, they never seemed to be bothered before.

    However, good news, there might be a overhaul in the system then to stop these charges, especially for those on benefits.
    Owed out = lots. :cool:
  • natweststaffmembernatweststaffmember Forumite
    12.1K Posts
    I think it is good news when any parties do acknowledge the fact that they believe bank charges to be unfair. Until the legal process has been completed I doubt they can do anything substantive in Opposition in Parliament but at least they have given their viewpoint.
    I have not worked for NatWest Bank since February 2009

    This username is no longer active.
  • KimYeovilKimYeovil
    6.2K Posts
    Widelats wrote: »
    However, good news, there might be a overhaul in the system then to stop these charges, especially for those on benefits.

    Forcing those on benefits to pay more for their banking, that does sound like a Conservative policy. I am a bit confused by your reaction, though. At the beginning of your sentence you say it is "good news"?!? I am all for people on benefits paying more.
  • natweststaffmembernatweststaffmember Forumite
    12.1K Posts
    KimYeovil wrote: »
    Forcing those on benefits to pay more for their banking, that does sound like a Conservative policy. I am a bit confused by your reaction, though. At the beginning of your sentence you say it is "good news"?!? I am all for people on benefits paying more.

    You are funny, lol.
    I have not worked for NatWest Bank since February 2009

    This username is no longer active.
  • Once_bittenOnce_bitten Forumite
    76 Posts
    Widelats wrote: »
    They only say this as they know the vast majority of people are very angry about it = more votes for them at the election, they never seemed to be bothered before.

    The 'vast majority' of people are not 'very angry'. The 'vast majority' neither know nor care about what is going on with charges. They may get cross when they discover they have to start paying monthly charges on their accounts though. Not the vote winner it is made out to be
  • WidelatsWidelats Forumite
    3.8K Posts
    Once_bitten wrote: »
    The 'vast majority' of people are not 'very angry'. The 'vast majority' neither know nor care about what is going on with charges. They may get cross when they discover they have to start paying monthly charges on their accounts though. Not the vote winner it is made out to be

    I do not know of a single person who is not angry about their charges or who do not know about it. Do you live in Iraq or something?
    Owed out = lots. :cool:
  • Nathan_SpleenNathan_Spleen Forumite
    559 Posts
    Widelats wrote: »
    I do not know of a single person who is not angry about their charges or who do not know about it.

    Only 20% of account holders incurr charges.
  • natweststaffmembernatweststaffmember Forumite
    12.1K Posts
    Once_bitten wrote: »
    The 'vast majority' of people are not 'very angry'. The 'vast majority' neither know nor care about what is going on with charges. They may get cross when they discover they have to start paying monthly charges on their accounts though. Not the vote winner it is made out to be

    Like for example packaged accounts which many people pay a monthly fee for, or having a tv licence which many people pay for, or paying council tax which many people pay for or paying rent or mortgage which many people pay for.
    Sorry, but what's the difference? Why is bank account charges different?
    I have not worked for NatWest Bank since February 2009

    This username is no longer active.
  • WidelatsWidelats Forumite
    3.8K Posts
    Nathan_Spleen wrote: »
    Only 20% of account holders incurr charges.

    Thats a good few million then. Tories know what they are doing.
    Owed out = lots. :cool:
  • tomterm8tomterm8 Forumite
    5.9K Posts
    Part of the Furniture Combo Breaker
    All this talk about removing unfair charges being the cause of monthly charges is rubbish. The reason for them introducing monthly charges is because they can. The banks want as much money as they can get.

    Anyway, it would be very untory to allow the government to set prices, so they are not likely to prevent banks actually charging unfair fees.
    “The ideas of debtor and creditor as to what constitutes a good time never coincide.”
    ― P.G. Wodehouse, Love Among the Chickens
This discussion has been closed.
Latest MSE News and Guides

Energy Price Cap change

Martin Lewis on what it means for you

MSE News

Best £1 you've ever spent?

Share your most impressive bargains

MSE Forum

New MSE Forum avatars available

Try 'em out now

MSE Forum
Sign In · Join