In my experience (have worked in 2 N. Ireland banks over last 24 yrs), there is no problem refunding a chg incurred @ 1p (even more!) for one day or so, I just think if you regularily exceed your means it may be time to cut back.
i know what you're saying Ivan but I have never been charged because I was spending money on "luxuries" - fair enough I admit that on the times I have been overdrawn its been my fault - no one elses but I have only ever been overdrawn like £10 at most - ever - and fair enough thats still my oversight (wages late, unexpected bill, not keeping a close eye whatever). But I have always had plenty of money in my linked savings account with the First Trust - and as I used to work there I know that when they bring one account up the others appear as well, so they could always see the money was there, so it bothers me that they charge soooo much. I just think that the charges are too much - not completely unjustified.
You just can't assume that everyone who goes overdrawn has done so because they are spending money on "designer clothes".
nadnad, make sure you have an authorised overdraft to buffer the odd problem ... mine was offered to me free of charge and every once in a while they send me a letter telling me how wonderful I am so they have increased it (I think it is something like £2000 now .. and I have only used a tiny portion of it once). The alternative is to remove £50 from your savings account and deposit it in your current account but do not add it into the balance (just consider it as your buffer) ... OK, you will be losing a bit of interest on £50 but at least you will not incur charges.
I have a friend often complaining to me about the bank charges he is having to pay and how much time he spends on the phone to his bank getting his money bank or writing letters. I keep telling him that if he spent 5 minutes managing his money more sensiblly and stop spending what he doesn't have then he wouldn't have so much hassle and stress ... the irony is that this conversation is usually after several pints in the pub where he has smoked a 20 pack of cigarettes and gets there and back (about 2 miles) by taxi, which he phones on his mobile after picking up a chiniese on the way home. I can see a few cutbacks that could be made there that would make a whole lot of difference to his life.
You also ask ...
how is it fair that if you go overdrawn by 1p for 1 day you get charged account maintenance charges for a quarter???
I am not defending the banks but what did the terms and conditions say that YOU agreed to and YOU signed ? In my experience they are 100% clear about what charges will be made .. unfair .. probably (hence the class action) .. going to change .. defnitely .. for the better .. excuse me if I stop laughing, it will all be smoke and mirrors, give with one hand take with the other ... will we get more rights .. no, we will be sacrificing the right to recourse through the courts over charges. The alternative is (and is already happening) that we ALL pay more .. there will be a few short term gains to keep a minority of people happy today however in the long term they (and everybody else) will lose significantly more. That is the reaility .....
I just claimed over £500 in charges and was offered £250 without court action.
Pondering whether to accept or not.
Why would they offer anything if they weren't in the wrong?
I sent a standard letter to Ulster bank and got charges back that i had forgotten all about! I was trying for 1 charge of £30 but they gave me £90 back!
Undefeated Wii Fit ski jump champion!
Vegas Junkie....
Hi - Ive filed my small claims court case against Intelligent Finance who are based in Scotland. So far everything has been according to the UK law, and not separate. Only thing is the small claims court has written explaining as the bank is outside its jurisdiction this may mean it takes a bit longer. I phoned the consumer council and they said that should mean it might be only 2 weeks longer - I was worried they were talking months! Anyway, in between this the bank has offered a full refund on one of my three accounts, the offer totals only half of the amount I am actually claiming. Ive accepted the offer but only on the understanding that it is a partial settlement and have told the bank that I will pursue them through the small claims court until I receive full settlement. Consumer council have agreed with this move...will keep you psoted - it is certainly worth it!
Replies
I have a friend often complaining to me about the bank charges he is having to pay and how much time he spends on the phone to his bank getting his money bank or writing letters. I keep telling him that if he spent 5 minutes managing his money more sensiblly and stop spending what he doesn't have then he wouldn't have so much hassle and stress ... the irony is that this conversation is usually after several pints in the pub where he has smoked a 20 pack of cigarettes and gets there and back (about 2 miles) by taxi, which he phones on his mobile after picking up a chiniese on the way home. I can see a few cutbacks that could be made there that would make a whole lot of difference to his life.
You also ask ... I am not defending the banks but what did the terms and conditions say that YOU agreed to and YOU signed ? In my experience they are 100% clear about what charges will be made .. unfair .. probably (hence the class action) .. going to change .. defnitely .. for the better .. excuse me if I stop laughing, it will all be smoke and mirrors, give with one hand take with the other ... will we get more rights .. no, we will be sacrificing the right to recourse through the courts over charges. The alternative is (and is already happening) that we ALL pay more .. there will be a few short term gains to keep a minority of people happy today however in the long term they (and everybody else) will lose significantly more. That is the reaility .....
Ivan
Did any of you get your fees refunded?
Pondering whether to accept or not.
Why would they offer anything if they weren't in the wrong?
Vegas Junkie....
Festering_Plates' number one fan! :T