Martin on Telly/Bank Charges

stebiz

LesD wrote:

(ps..I'm glad you call the charges 'unfair' not illegal. No legal judgement has been made. Many things in life are unfair!)

Just to confirm charging more than it costs you as a penalty is unlawful. The argument is whether the banks do actually incure £30 plus charges on say bouncing a cheque. If they do then the courts will rule in their favour. However as yet they have been unable (or unwilling) to provide evidence. One case that did go court last week the judge gave 14 days for the bank to produce evidence...........will they. We will have to wait and see.

Stebiz

NickToye

Well, all I want is to get out of debt. I don't really care how it happens, be it Lottery, Deal or no Deal, or whatever. But as a general consumer I have felt that I have been ripped off and very rarely get value for money.

So do I have sympathy for creditors and banks especially? Well no I don't. Do I want to be living in a cheap bedsit when i'm 75, well no I don't. So i'm fighting back.

Katie73

Tootsie Roll

My family are seriously in debt at present and I'd just like to say thanks for your judgement of us. We're what you'd class as 'lazy' and 'ignorant'. I'd class us as unlucky. I got made redundant, while on maternity leave with our second child (now you'll probably say it was stupid of us to have kids) - is that my fault? No. Is that through laziness or ignorance? No. The multi-million pound so-called 'community college' that I was employed by decided that my area of work was no longer needed and closed us down.

We now have two kids and one income, no benefits and no extra money coming from anywhere. We didn't overspend on anything. We've not had a holiday in 3 years, rarely go out, have a second-hand car (£500), and our house is falling down around our ears.

Yet, I have a partner and two kids that love me and that I love with all my heart. We have a roof over our heads and food on the table. We're happy and healthy - AND CLAIMING BACK OUR BANK CHARGES!!!

Not once did they ring us or offer any help with our financial situation, despite ME ringing THEM and explaining things. Last week they tried to charge us £30 for a Direct Debit, setup without our consent, for ONE PENNY. How can you call that fair? Banks make millions (if not billions) on the interest on cheques being paid in and money sitting in accounts, so to then try to justify extortionate charges on top is ridiculous.

As everyone else has said, this board is about moral support, so if you can't offer it can I politely suggest that you b****r off elsewhere?

'Nuff said.

homer_j_3

I think Martin covered it off in saying that the Banks will have no option to come up with some form of defence and with solicitors they employ, I am sure that they will make a reasonable attempt to try and wriggle out of being a target as they are now.

Maybe the case that the judge has given 14 days notice on will be the start but I think that unless they can get over their commercial sensitivity issues then they are their own worst enemies. Do we know who the bank is and when the 14 days expires - It would be interesting to see what happens.

Clearly the banks do not drive their charges through competetion and try to undercut each other because if they did, they would be a lot cheaper than they are now. In fact I think you will find a nice clip from the former head of lloyds saying that profit was driven from these so clearly this is high up on the agenda when considering what costs to charge.

It is my opinion that it is likely that all the very senior members of the banks like the CEO's (who are members of committees that discuss the industry at the highest levels regularly) will have a gentlemans agreement in ensuring they protect their profits and bonuses. It is almost like price controlling.


The whole point of what the CAG, MSE and BAG websites do is to empower consumers to ensure that they get a fair deal. Having worked in Financial Services for the last 10 years, I have seen blatent disregard for treating customers as humans and just as a profit/loss figure.

In fact I believe there was a programme on BBC1 yesterday morning where a top executive in the banking world actually spoke out on how banks manipulate and target their customers to profit from them in every way. This mornings programme was interesting on the subprime market too so I guess that Financial Services are having a bit of a tough time from the media.

NickToye

I always wondered if there way a way where the people can have their own bank. Not run by major companies. I now have an account that has no overdraft, I don't even have a switch card. It feels good.

I would have preferred the gas company turn off my gas rather than the bank charging me for a returned DD and consequently an overdraft fee.

My parents ran a business that went under because of charges, charges by the banks and charges from the companies that were calling the dd, so a double whammy.

Talk about chasing your tail. Basically banks could not care less about your welfare, the more in debt you are the more money they can extract from you.
Wouldn't it be amusing if 5 million people decided to file for bancrupcy and decided to stop paying the banks. Closed their accounts and paid their bills with cash, the old school way.

Imelda

Hi all,

Having just read this thread, I can see it is a highly emotive subject! I think what the "why should you get out of paying charges" brigade needs to realise is that basically the banks have been overcharging. Nobody is denying that if you go over your overdraft limit/ a dd is denied that there will be some charges involved, but £30 for a couple of pounds is ludacrous! Also, the banks are making profit out of the debt by charging interest on it as well. I think what we need is clarity, the banks should provide evidence to the cost of administering such things as unauthorised overdrafts and then I for one will be prepared to pay. They are not allowed to make money out of these charges, as someone said before, punitive charges will not stand up in court.
If Tescos had overcharged you, you would return and get your money back, so why wouldn't you with a bank?

BTW- I would like to point out that I have never incurred any charges (believe me I have checked!), good luck to you all fighting your corner!

NickToye

Nothing is transparent, if anyone has had any work done by a greasy sleezy garage owner than you will understand.

If there are any garage owners out there than please accept my apologies if your as honest as the day is long. I have yet to find one.

Bottom line is, people are getting ripped off and until we say no and fight our corner, than it will keep happening.

That comment last night that the lady said about the request for confidentiality, what a disgrace!

bookworm1363

NickToye wrote:

That comment last night that the lady said about the request for confidentiality, what a disgrace!

Thank you very much, Nick,that lady is me!

NickToye

You do realise I mean what the store card people said was a disgrace.

Molanole

bookworm1363 wrote:

Thank you very much, Nick,that lady is me!

Mum! Look! Its the lady from telly!! :rotfl: