Alliance and Leicester Close Accounts of People Who Charges

Kevicho

payless wrote:

OR

you could say, it means you are stopped the opportunity of being burgled again

My analogy was more aimed at saying that you shouldnt be victimised because you have stood up for your rights

payless

Kevicho wrote:

My analogy was more aimed at saying that you shouldnt be victimised because you have stood up for your rights

I know what you meant, but to be fair its a commercial world... people decide which companies they want to do business with... well the reverse is also now true ( not taking sides here, just pointing it out) ..

Kevicho

That is true, however if all the banks are doing it then there needs to be a major shift in policies and the government need to grow a spine and do something about this.

Otherwise if it comes into force it is impossible to use banking facilities because they have stood up for their rights then that is a major injustice.

The people of consumeraction are pioneers, the people of britain need to start standing up for their rights a lot more than they are currently.

Then we will see the improvements in society we need

Hereward

Kevicho wrote:

The fact is bank charges in there current format are wrong, they are not in relation to any sort of loss the bank makes, why not have a higher rate of interest applied to the accounts that go overdrawn?

This is the most like cause of action if the bakns, and building societies, are forced tro reduce their penalty charges. Just because they are being forced to reduce their charges does not mean that they will take a hit to their profits, the finacial institutions will just look at other ways to make money.

Plutos_2

Kevicho wrote:

That is true, however if all the banks are doing it then there needs to be a major shift in policies and the government need to grow a spine and do something about this.

Otherwise if it comes into force it is impossible to use banking facilities because they have stood up for their rights then that is a major injustice.

Absolutely - that would be a banking cartel. Of course we don't have one of those, do we.

The truth is that bank charges are used simply as a revenue making measure. If the banking market were truely competitive, we would all pay something for our banking services. As it stands now, there is no alternative to banking with a bank that has punatitve charges. None exist. For people like me who sometimes have little money at the end of the month and thus go a few quid overdrawn, or who foget which account they made the direct debit out of, or are just generally a little forgetful, the charges get riduculous. There is no way the cost to the bank of the odd infringement is anything like what they charge me.

If there were a competitive market, another bank would step in and offer the same service for less money. Unfortunatly that is not the case, and this requires intervention.

Plutos_2

ho ho. this is getting nasty for them

1) Reuters:

http://today.reuters.co.uk/news/newsArticle.aspx?type=personalFinanceNews&storyID=2006-06-08T093245Z_01_NOA834319_RTRUKOC_0_FINANCIAL-AL.xml

2) Channel 4 news:

http://www.channel4.com/news/content/news-storypage.jsp?id=1285134

Poor A & L. The last thing they wanted were customers who knew when their bank was ripping them off to the point of complete illegality....