MSE News: Bank charges: banks win test case appeal

suebo_2

Stephenbw wrote: »

To what?

I really don't know where you're going with this.

You made a fatuous statement that would have made a 1975 Miss World contestant blush to her roots.

I questioned your sincerity and quoted an equally vacuous song lyric, to which you asked if I had an answer.

So yes I'm confused.

No, I guess you don't understand!! But one day you might.:rolleyes:

suebo_2

Stephenbw wrote: »

You are of course aware that the Credit Unions use the banks

I know very little about Credit Unions, but I'm gonna find out as an alternative.;)

Stephenbw

suebo wrote: »

I know very little about Credit Unions, but I'm gonna find out as an alternative.;)

I was in a Credit Union for years with money taken directly from my salary.

They paid all their members money into the bank and although they would issue cheques for loans and withdrawals which members cashed at the bank, they preferred to credit your bank account directly as this kept down their costs.

The banks love them as they still get all of the cash but with none of the risk.

Stephenbw

suebo wrote: »

No, I guess you don't understand!! But one day you might.:rolleyes:

And I'm guessing you must be very young to be so naive.

Me, I'm an old cynic who has seen it all before.:rotfl::rotfl:

lewis1964

We lost a battle, but I still believe in victory. The fight is not over.
There must be a organization able to challenge the fairness of overdraft charges, if it is not the OFT, who is it then? otherwise the law doesn't make sense.
Does anyone know which organization? Thank you,
Lewis

LizzieS_2

If when joining a bank they said your bank charges will be £20 for going beyond your overdraft, chances are you would not negotiate but agree - you wouldn't be planning on having to pay £20 ever.

Over the years the bank inform you of increases and today it is £35 - if you hadn't incurred any past charges or accepted the odd charge here and there was your own fault, you would agree. If you were overdrawn at the point then obviously you would want to negotiate a lower charge, but the other problem is would the bank still be obliged to keep you as a customer if between you no agreement was reached?

itsgazza_2

smothy wrote: »

RBS will and do allow this type of account to go overdrawn. They then charge you £38 for it.

I believe that the basic bank account should not allow you to have an overdraft. If it does then it isn't a true basic bank account. TheCo-op Cashminder account doesnt allow you to go overdrawn as you dont get a debit card

robpw2

itsgazza wrote: »

I believe that the basic bank account should not allow you to have an overdraft. If it does then it isn't a true basic bank account. TheCo-op Cashminder account doesnt allow you to go overdrawn as you dont get a debit card

you can go overdrawn thought
my basic account with halifax

pay bill 24.23 every month by dd then last month of usung account they attempted to take 24.23 but of course i had budgeted and left 25 in as but this week they decided to do a security check which they do regulary on there basic account where they hold a £1 and then refund it so i was now at 24.00
halifax reject the dd over 77p so now i have a £39 charge so for what would essentially be 77p overpayment if payment had gone through is now -14.96 so im overdrawn even thought i have no overdraft so this triggers another £39 for this amount
they always have the courtsey of writing to you after they have charged rather thrn before unlike some banks

so im now down -53.00 and they charge you interest per day well when your on a strict budget thats a lot of money

fermi

blind-as-a-bat wrote: »

Yes you do, , just been upgraded to a visa debit (sort of) from an electron too;)

Many of the "true" basic accounts now have a full debit card (not Electron/other similar).

I have one.

PROLIANT

fermi wrote: »

Many of the "true" basic accounts now have a full debit card (not Electron/other similar).

I have one.

...and they will be full auth cards too - no spending what you havent got.