MSE News: Most expensive banks for unfair charges revealed

Alpine_Star

oakhouse13 wrote: »

BTW I have put in a freedom of information request to find out how much the campaign on overdraft charges has cost so far. Less than a million has been paid out to consumers so far. As it is probably only about a third of the way through the eventual cost will be in the tens of millions, or don't you agree?

Who was the FoIA request made to and the cost to who?

natweststaffmember

oakhouse13 wrote: »

'I don't really think there is a need to have an incentive to join another bank because realistically, if we don't like our bank we get out of there if we can.'

Brilliant observation. So what is behind the huge numbers being churned in credit cards, bank accounts, energy, for which all consumers pay from increased customer acquisition costs? Is it the impact of comparison websites as intermediaries which earn their fees from switching so promote accounts with bribes whilst not reporting the detail on fees?

I'm sad that you lost your job. You obviously understand a lot about banking. I think you could do more good working for a bank, helping to change the system. Do you regret not being able to work in the banking industry? I hope you don't mind me asking.

I have no regrets whatsoever on never being able to work in the banking industry since I was sacked for Gross Misconduct.

oakhouse13

http://www.oft.gov.uk/shared_oft/personal-current-accounts/banksqa260209.pdf

I have asked the OFT for the costs of its UTCCRs investigation since April 2007. Do you want to know its reply?

Being sacked for gross misconduct must have been upsetting, I feel you need to move on, start a new chapter in your life. Every time you post a message you are reminded of it.

Alpine_Star

oakhouse13 wrote: »

http://www.oft.gov.uk/shared_oft/personal-current-accounts/banksqa260209.pdf

I have asked the OFT for the costs of its UTCCRs investigation since April 2007. Do you want to know its reply?.

Yes but I suspect that they don't know the answer.

oakhouse13

Ok I'll update this thread as and when.

Alpine_Star

In my experience of FoIA requests to the OFT on the credit card default charges investigation the OFT don't capture information such as man-hours spent on specific investigations.

Alpine_Star

See sections 21 to 24 here http://www.ico.gov.uk/upload/documents/decisionnotices/2008/fs_50173284.pdf

natweststaffmember

oakhouse13 wrote: »

Being sacked for gross misconduct must have been upsetting, I feel you need to move on, start a new chapter in your life. Every time you post a message you are reminded of it.

Oakhouse, this is what I have lost. I can't search for internal information to pass onto a third party but I can go through official channels and ask. I do a lot of things away from the forums including asking various departments for information and receive it. I am free to contact the press and if need be work with them and help them with stories.
Unemployment for me meant cementing the financial hardship stuff and I spent my time doing this and improving my knowledge. In fact, I would say posting a message here reminds me that my job is not done. I lost a job on a sinking ship and recovered to the point that I earn more NOW than I did at the start of the year working for a high street bank. I am very grateful for the support I got here and on other forums. For me, freedom from the bank allowed me to do more not less.

oakhouse13

That's great, that you make your own living on your own terms. Of course, better than working for someone else although more stressful with greater risks. You are creating wealth and paying tax, like me!

natweststaffmember

I work for another organisation not connected with banking but they produced some of the best bankers, and even the best spies and many many more famous people