MSE News: Bank charges: banks win test case appeal

dirtydavey

Stephenbw wrote: »

I agree; some of the sentiments being expressed in this thread are so ignorant, and as for the spelling :eek:




Exact right; those of us who don't overdraw and keep money in the bank are paying for our own banking; why should we also be expected to subsidise those who overdraw?

I agree; some of the sentiments being expressed in this thread are so ignorant, and as for the spelling


Exact right;

Yeah well done!!!!

philatio

I love it how the scenario of the jobless, single parent who can't find 50p for the gas meter or feed the 5 kids.. is the one everybody is spouting here.

Wake up!

99% of the people fighting these charges are paid a decent wage.. spend it all on beer, fags, DVDs and clubbing and then expect to be able to spend money they don't have.. for free.. until the next pay day.

Whether the charges are 'fair' or not is irrelevant. The banks clearly publish their charges and fees. You sign up for an account so you agree to those fees. End of.

And no.. I'm not a banker (!).. I just have the basic intelligence to be able to manage my own finances.

pink_phantom

glider3560 wrote: »

That is a problem between yourself and your employer - why should that be the bank's responsibility?

In any case, why not withdraw the money as soon as it has been paid (only using the bank as a method of receiving your wages) then you are effectively back to being paid in cash?

Look, I get what you are saying but I think you need to look at things from other peoples perspective than your own and realise things are different for different people.

mystic_trev

Some people have mentioned taking this case to the European Courts, why? You want to see some of the Bank charges our European cousins are saddled with!

Harry_Powell

dirtydavey wrote: »

Life for you may be that simple but for the rest of us its not.

I dont want to dip into my banks money and have begged them not to let me. But its a "serivce" that I pay for. And again, I am quite happy to be charged for that, but at a fair rate. Not just for the banks to pick a number out of the air. Hmm lets say £35 for going 1p over.

I am happy for you that you have not got into this sitiatiuon but it could happen to you to.

One month you are charged for somthing you did not expect (even though you bugeted) I was charged too much by vodaphone this put me over my limit meaning that other iteams of a lesser cost where taken. And each charged at £35, I eneded up being charged over £150, vodaphone saw the problem and refunded me my money. But not my charges.

How now with my budget, can I affrod to live £135 down, that was a massive percnet of what I earn every month. So dont talk to me about buget.

I have a pay as you go mobile phone because I can't afford a contract. I also don't have SKY tv and all the other trappings that people must have. My direct debits are therefore only for essentials and are all fixed amounts and so are easy to budget for.

Vodafone will have given you a bill prior to taking the money, if you don't read them.... If they took an incorrect amount over what they said they would in the bill, then you could claim for any charges.

If you are sailing close to the wind financially, then only essentials should be on direct debit. The rest should be paid via debit card, cheque or cash. You can't go overdrawn due to an unexpectedly large direct debit payment if you have essential DD's that are at fixed monthly amounts.

Stephenbw

imapoorstudent wrote: »

I am eagerly awaiting my next "Changes to your banking agreement" leaflet form Lloyds TSB in which they'll tell me, with much pleasure, that I will now be charged £100 for going overdrawn and there's NOTHING anybody can do about it.

Surely, this ruling means the banks can now legally charge any amount they want.

This is a sick, disgusting ruling. Yet another reason why I should leave this country and head overseas...

To France maybe?

Penalties for a bounced cheque or unauthorised overdrafts can be damaging to your aims of buying property or doing anything else financial in France. Cheques will no longer be honoured and high charges will be made to your account, which can make the problem even worse. If you do not resolve the problem to the bank's satisfaction or get into trouble again, then you are in danger of becoming an Interdit Bancaire, which means you will not be allowed to carry a cheque book and your name is put on a banking blacklist for three to five years. You will not be able to solve this problem just by changing banks, as all the banks have access to this blacklist.

raider

angelflower wrote: »

I do hope that for those of you up there on your high horse that you never have a period of poverty where you have to make those types of decisions because now the banks have been given this permission to make the charges whatever they deem fit, you will all end up paying now.

Those people on there "high horse" will have likely planned for such an event, unemployment, sickness etc.

When I was younger (37 now), I constantly had overdrafts, loans, maxed out on Credit Cards etc, stuck in the debt trap, like so many here. One day I decided enough is enough. I slowly cleared my overdrafts, credit cards and loans, all by managing my money properly and determined never to give the banks another penny of my money again.

I now have no debts whatsoever. I have a constant float of £500 in my current account so never go overdrawn and get charged. I plan & save for every purchase I wish to make in the future and for anything that might go wrong, so I'm always covered. My credit card never gets used unless I have the money there to immediately pay it off, so never get charged.

If the banks decided to charge for my credit card, I'll bin it. If they charge for a current account, I will either find another way around it, or use the cheapest one. If they charge for a savings account, I will withdraw all my money.

Fight them by using you brain and not giving money away in charges for nothing.

I've been there and refuse to go back ever again.

Learn to save, save a portion of your money each week/month, no matter how small, and use it as a base to launch from. Don't just spend it for your instant gratification.

rambi-bambo

Tozer wrote: »

With respect, you show very little knowledge of what the European Court of Justice actually does.

What is the point of European law that has been contravened in this case??? That is the only basis for an appeal to the ECJ. Or do you really want Europe to be the supreme arbiter for the UK?

Yes i do have little knowledge, i'm just really desperate..

superdood

smothy wrote: »

Surely that would be illegal? It is now part of the legal system and the last chance of us getting any justice.

No they are saying that the OFT doesn't have the appetite for the European Court, it would just draw the whole process out much much longer and possibly come to the same conclusion as today, giving people false hope and more speculation. I don't have the appetite for it either.

Let's see what other options are open to us first.

kayleighb1985

surely its a unfair comment that its right for them to charge
i dont make as much as a lawer or docter or what ever but the amount of tax taken off each person i think is still to much! specialy when the gov can "help" the banks in there time of need
THIS IS MY TIME OF NEED SO HELP ME!!! LOL SOD THE BANK!