MSE News: Bank charges: banks win test case appeal

nellyboy

quote, in response to the holier than thou thread/forum by oscar:

I have just read this thread from start to finish and cant believe some of the rubbish on here. Im not going to bother going back and quoting passages, so will just list my points (as I remember them)

1) to the "holier than thou" brigade - Most people didnt get into difficulties to to ineptitude, but through misfortune. Would you laugh at someone that fell of a ladder and broke their leg (and state "well I wouldnt have gone up it in the first place) or get them help?

2) most people start working life wit no debt? - I can think of MILLIONS (and introduce you to severl hundred) graduates who would disagree with you. And if you have never been to uni, dont even go into "why not get a job as well"

3) "I was clever and got insurance" - most insurance isnt woth the paper its written on FACT, and this comes from me working for the largest credit card provider in the country FACT

4) "get a loan or overdraft" - this isnt really worthy of a response - you clearly dont understand anything - thats what got a lot of people in trouble in the first place!

5) "I can live of £500 a month" - including rent / mortgage, fuel bills, food, travel to work etc etc - codswalllop

6) if the supreme (not really a deserving title) court can overrule the FSA, FOS, OFT and every other regulatory body, whats the point in having these bodies in the first place?

And lastly, and again a point to the holier than thou who "manage" their finances properly (and this is not a dig), perhaps you would like to comment on the other news today of how the Cheif Execs, CEO's (whatever title they use) previously went cap in hand to a bloke called Mervyn for several BILLION pounds, what for ut "beacuse they didnt manage their accounts (or rather other peoples) properly.

so, how can anyone, who gets an overdraft of billions, without a fee, lecture or extract a fee from little old me for a few pounds and deem it reasonable and fair?
afterall, thats what this whole thing is about!
yes we know we will be charges for minor indescepancies, and we accept that, we just want them to be reasonable and fair.

never-in-doubt

PNPSUKNET wrote: »

oh well, more to the point what are the reclaims companys going todo now.... sorry guys job seekers allowance will be open soon to them

They will carry on as normal, unfortunately! Remember we still have Reg 5 which seems to be the next move..... (along with Reg 8).

Charlie94

Premier wrote: »

I would like to buy a loaf of bread for a fair price, and electricity, and gas, and a plasma tv.... But we live in a competitive market place and have to pay the market rate.

Where else would the banks get the £2bn+ per year they were going to lose from?

There was free banking before charges for exceeding your overdraft came into place so the banks could quite easily continue with free banking if they lost the 2 billion.

I will freely admit that I am not concerned that the banks might lose 2 billion if it means people are treated fairly.

Also why should people be so accepting of the market rate as you call it. If energy companies all turned round and decided to charge 4 times the amount with no reason for doing so that would be the 'market rate' but I doubt people would just shrug their shoulders and accept it.

Most people will accept that there should be some charge for exceeding your overdraft but it should be one that is fair and does n't put people into real financial diffulculty.That seems a reasonable request

nellyboy

Stephenbw wrote: »

Yes, I did know this.

Thousands of DDs are requested every day electronically. No-one at the bank is going to check every one of those requests to see if there is enough money in each individual account to cover them, that is the customer's own responsibility.

Even if they did check you may have sufficient funds when they check but not when the DD is paid, or conversely may have no funds when they check but pay in a wad of cash before the DD is paid.

so, with all the money being raised through "returned DD fees" no one thought...i know, why dont we make the system flag this up? i can do it on outlook or my outlook calendar so i dont think it should be that hard to put it into a banking system that has several bank account managers at each branch?
or even move it to the collection centre? or even the overdraft mangement centre?

.........................................................................................?

never-in-doubt

nellyboy wrote: »

quote, in response to the holier than thou thread/forum:

Yup, posted by Oscar - classic post :D #116

nellyboy

Charlie94 wrote: »

There was free banking before charges for exceeding your overdraft came into place so the banks could quite easily continue with free banking if they lost the 2 billion.

I will freely admit that I am not concerned that the banks might lose 2 billion if it means people are treated fairly.

Also why should people be so accepting of the market rate as you call it. If energy companies all turned round and decided to charge 4 times the amount with no reason for doing so that would be the 'market rate' but I doubt people would just shrug their shoulders and accept it.

Most people will accept that there should be some charge for exceeding your overdraft but it should be one that is fair and does n't put people into real financial diffulculty.That seems a reasonable request

that is and always has been the crux of the problem, that it isnt reasonable or fair!!

THERE IS NO SUCH THING AS FREE BANKING BECAUSE SOME CUSTOMERS ARE ALWAYS SUBSIDISED BY OTHER CUSTOMERS!! NOT ALWAYS A FAULT OF THEIR OWN.

nellyboy

never-in-doubt wrote: »

Yup, posted by Oscar - classic post :D #116

amended, didnt know how to cross post threads....maybe i should become a banker then i could cross charge and keep it free for all in credit eh!?!.......

Stephenbw

nellyboy wrote: »

so, with all the money being raised through "returned DD fees" no thought...i know, why dont we make the system flag this up? i can do it on outlook or my outlook calendar so i dont think it should be that hard to put it into a banking system that has several bank account managers at each branch?
or even move it to the collection centre? or even the overdraft mangement centre?

.........................................................................................?

blind-as-a-bat wrote: »

no one has to, that is what computers are for, and it would not be that hard to write a routine to do it

Which bit of this did neither of you understand?

Stephenbw wrote: »

Even if they did check you may have sufficient funds when they check but not when the DD is paid, or conversely may have no funds when they check but pay in a wad of cash before the DD is paid.

I would be interested to see a computer programme that was able to predict how much money would be in an individuals account at the exact moment a DD payment is taken, especially if it could also inform the account holder at the exact same time :rolleyes:

never-in-doubt

nellyboy wrote: »

amended, didnt know how to cross post threads....maybe i should become a banker then i could cross charge and keep it free for all in credit eh!?!.......

Just click reply then copy all..... come here and click reply then paste it into the reply post - job done! :beer:

never-in-doubt

Stephenbw wrote: »

Which bit of this did neither of you understand?

None of it, please elaborate starting from scratch and use plain English and take it slow - i'm not the brightest spark in the engine :D