Banking ethics!!!!!

CAM1_3

Hello only joined this site today--and needed to talk to someone---I have been contacted by NATWEST collections agency to ask for payment on an account that I haven't used for 12 months--it was originally 39p overdrawn because of interest charges taken out by the bank themselves. Over the last 12months the charges have been building up but as I haven't used the account I did nothing about it. I explained all this to the very unhelpful woman who told me that unless I cleared this by paying £70 per month they would close my step account as well. As I have been working very hard to get back on track with my finances opening a new bank account would probably be impossible---I know that to afford £70 per month will take some doing. Is there anything I can do?

glider3560

No, you only have yourself to blame - why didn't you just pay the 39p in the first place?

CAM1_3

Thanks that's really helpful--do you work for NATWEST

DesG

Open a basic account somewhere else before they start taking the money without asking from your step account.

Cheers, Des.

savagej

Please ignore all of the unhelpful replies you have received, some people seem to have nothing better to do with their time than irriate others, in fact they appear to enjoy doing it instead of choosing to apply any common sense.

You said you were overdrawn 39p and this has esculated, how much do you now owe and is this all in bank charges. As you state you are going to need £70 per month it would seem not an unconsiderable amount.

If it is in charge for a 39p unauthorised overdraft I would personally go back to the bank and complain, if they have charged you over such a small amount, then kept applying charges due to their charges they are making an exorbiant profit, which has now turned into attempted extortion and I would not let it go until they remove all of their charges.

I think there are many banks who have a buffer and say would not apply charges for anything under £1, £5, or some reasonable value. In my opinion and I think that of most decent people the banks actions are grossly unfair. Terms and condtions or no terms and conditions.

After all if I lent you 39p and you forgot to pay it back to me, I would not in 12 months want hunderds of pounds because you forgot. If the bank wont let it go I would tell them to take you to court, I think most judges in this country would be most unamused to have this put in front of them.

pinkichiban

Have you had a look on the Reclaim Bank & Credit Card Charges
I found this thread very helpful when dealing with a similar situation. I ended up getting all my charges refunded, although they closed my account immediately, which as the bank had been so professional, I was happy to take my business elsewhere.

missile

Banking ethics!!!!! is that not a contradiction in terms?

As has been suggested:
1.Open an account with a.n.other bank.
2.Pay £70 or as much as you can afford
3.Write and ask the bank to reconsider your charges as they do seem excessive
4.I would be very surprised if they do not refund most of the charges. If they do not refund charges, complian to fso, see here> http://www.financial-ombudsman.org.uk/

oxenryd

savagej wrote: »

After all if I lent you 39p and you forgot to pay it back to me, I would not in 12 months want hunderds of pounds because you forgot. If the bank wont let it go I would tell them to take you to court, I think most judges in this country would be most unamused to have this put in front of them.

Wouldn't the judge also think that the OP was a bit of an idiot ignoring letters and monthly statements FOR 12 MONTHS ?!!?!?!

... and before you add "Don't you have anything better to do?" let me add that it's because of people like you (who get charges and take no responsability - this scenario could have easily been prevented) that people like me (who have never had a charge because I manage my money) will probably soon have to pay for having bank accounts and debits cards like in many other countries.

savagej

oxenryd wrote: »

Wouldn't the judge also think that the OP was a bit of an idiot ignoring letters and monthly statements FOR 12 MONTHS ?!!?!?!

... and before you add "Don't you have anything better to do?" let me add that it's because of people like you (who get charges and take no responsability - this scenario could have easily been prevented) that people like me (who have never had a charge because I manage my money) will probably soon have to pay for having bank accounts and debits cards like in many other countries.

You do realise this is about a simple mistake for 39p. 39p, not £39, not £390, I think you need to get some perspective on the matter . I also think the bank the OP is with should stop trying to extract monies from him for such a small amount.

This is all computer generate, not one person has appeared to have intervened at the bank to use some common sense, do you? A massive amount in charges for making a mistake taking someone overdrawn by 39p remember.


Edit: Granted personally I would have been on the phone by now and not asked but told the bank to remove the charges, or take me to court. For 39p this amounts to harrassment and extortion by the bank. These at least here in Scotland are criminal offences.

askakd

oxenryd wrote: »

it's because of people like you (who get charges and take no responsability - this scenario could have easily been prevented) that people like me (who have never had a charge because I manage my money) will probably soon have to pay for having bank accounts and debits cards like in many other countries.

Please explain your logic, Oxenryd!

If everyone was like you, then no-one would incur bank charges, so we would all "have to pay for having bank accounts and debits cards like in many other countries"!!

missile

savagej wrote: »

These at least here in Scotland are criminal offences.

Perhaps they ought to be, but I don't think the Procurator Fiscal would agree :rotfl: