Call To Boycott Alliance & Leicester

krisskross

superjames4 wrote:

I agree that banks don't have a duty of care particularly, but if stopping reckless behaviour is the aim, freezing the account immediately until back within its limit is surely more effective than plunging it ever deeper into the red?[/QUOTE

Problem with the banks refusing to honour a debit card payment at Tesco because the account is running on empty will be that people will be accusing the banks of starving children by not allowing the parents to get food. I feel the banks can't win.
I note that none of the people crowing about getting back all the charges that have been imposed over the last six years have considered reimbursing the bank what they consider would have been a fair charge for their own financial mismanagement.

superjames4

krisskross wrote:

superjames4 wrote:

I agree that banks don't have a duty of care particularly, but if stopping reckless behaviour is the aim, freezing the account immediately until back within its limit is surely more effective than plunging it ever deeper into the red?[/QUOTE

Problem with the banks refusing to honour a debit card payment at Tesco because the account is running on empty will be that people will be accusing the banks of starving children by not allowing the parents to get food. I feel the banks can't win.
I note that none of the people crowing about getting back all the charges that have been imposed over the last six years have considered reimbursing the bank what they consider would have been a fair charge for their own financial mismanagement.

perhaps, though it's possibly less damaging than charging someone £30 fee on top of a £10 transaction... and then freezing their account.

kuohu

Going back to the original topic, I don't find it all surprising that A&L are closing the accounts of people who have claimed money back off them. Infact it's the sort of outcome that people would expect, isn't it?

pink_phantom

MarkyMarkD wrote:

.

banks will recommence charging for all transactions.

If the banks recommence charging for all transactions then I will recommence using my piggybank instead.:D

pink_phantom

That is why they invented the bright idea of the visa electron, because you can't go over your limit.

MarkyMarkD

Very realistic, pink_phantom.

If banks recommenced charging for most transactions, most people would still use the banks - because it's convenient to do so, and most people value the ability to use banking services.

For those people who want to revert to cash, that's fine and dandy.

Tootsie_Roll

pink_phantom wrote:

That is why they invented the bright idea of the visa electron, because you can't go over your limit.

Oh yes you can ! And You'll get charged too.

dchurch24

MarkyMarkD wrote:

Very realistic, pink_phantom.

If banks recommenced charging for most transactions, most people would still use the banks - because it's convenient to do so, and most people value the ability to use banking services.

For those people who want to revert to cash, that's fine and dandy.

...only it isn't. If I asked my employer to pay me in cash rather than into a bank, I think they may very well point me at the law that states that THEY have the final say over how I am paid. Not me.

Thus, the propaganda that the banks are now spreading about charging for transactions is just that, propaganda. To be forced into buying a product or service by legislation is a breach of the ECHR act.

pink_phantom

Tootsie_Roll wrote:

Oh yes you can ! And You'll get charged too.

Sorry, I should have specified. I meant you can't go overdrwn using your card or if you have a basic account. You can still go overdrawn with direct debits, standing orders and cheques on current accounts.xx

Also, peoples tax credits etc would have to go into a bank wouldn't they? They can't pay the nation ny giro so in a way people will HAVE to have banks.

superjames4

presumably the worst that will happen is current accounts will go back to not paying much interest - or there'll be a choice between that and getting interest but being charged per cheque and per standing order.

Of course we do already pay per cheque, dd, SO because the banks hold on to our money for 3 days for no reason whatsoever...

another consequence might be that banks look to cut costs in order to maintain their profitability so could be another nail in the coffin of high street branches. I haven't been in one of those for years though!