MSE News: Bank charges: banks win test case appeal

_Andy_

Knackered wrote: »

Take up the issue with the guy who runs this website then. You tell him he's wrong and you know better. Go on!

LOL

The website itself is well-intended. I'm all for consumer awareness but the idea that's implied is that banks/lenders are immoral for making a profit.
If they didn't make a profit, they wouldn't exist. Hmm, great.

Janeyc_2

raider wrote: »

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.

Oh for goodness sake! Write a book, you never know it may be a best seller! Or at least it will act as a little reminder to yourself of how clever you are! I take it you haven't been made redundant within the last couple of years! where is your compassion?

northerner79

Handing down the unanimous ruling, Lord Phillips, president of the Supreme Court, said: "It may be open to the Office of Fair Trading to assess the charge under other criteria."

What would this other criteria be? There seems to be some hope here but is this false hope?

I have some charges which I was hoping to get back but weren't counting on them being returned, after all I breached the agreement I had with the bank, but still the charge is excessive and not relative to the costs incurred by the bank. Then again I guess if you get a parking ticket for £60 this isn't really appropriate if you are 5 minutes late for a bay where the charge is 40p an hour!

We still want our unfair charges back! This site has done great work and I am sure will continue to do so, in gaining justice for the consumer.

Cheers

PadiP

twinmom04 wrote: »

well i'm not surprised with the ruling in the current climate. what bugs me is you HAVE to have a bank account this is something the goverment have forced on us, to stop people diddling the tax man and so they can keep their big brother eye on us. Maybe employeers need to start thinking about paying in cash again and cutting out the big fat banker. Luckly I've managed to pay off my credit card and stay in my overdraft and reduce it by £400 this year (which the bank chrged me £25 for the pleasure)!

The banks went against the courts and appealed higher why cant the OFT?:mad:

Perhaps we should campaign for the re-instigation of the Truck Acts which demanded that workers be paid at least fortnightly in coin of the realm? I think this would be a great idea.

superdood

kiggy wrote: »

I am sorry but I cannot understand how the discision was made so fast in court today because these things take ages - unless there was gin and tonic deals made and no one can tell me that members of the court that made this discision are not friends with the bankers - the banks are the biggest criminals out they even continue taking money out of people's accounts when they know it is a scam - I hate living here, nothing to be proud off, want to go and live where we exchange goods and services for goods and services - things are so coruppt here, the biggar you are the more you get away with it.

What are you talking about?! Today was just the announcement, IT HAS TAKEN YEARS TO GET TO THIS POINT :rotfl:

Hollypop_2

Someone should set up one of them goverment petitions, that we can all sign, so say WE think the banks should have fair charges. :money:

Surely out of the milions of people in the UK, a lot would sign it, surley someone has to listen to it?
why should this 1 judge decide in 2 minutes the outcome of millions of people lives!

neverdespairgirl

euronorris wrote: »

I can't believe this! The bank charges don't have to be fair??? WHY NOT?????!!!!!!!
.

The court wasn't asked to decide whether bank charges were fair or not. As the judgment says:

"Lord Walker made clear that the scope of the appeal was limited – the court did not have the task of deciding whether or not the system of charging current account customers was fair, but whether the OFT could challenge the charges as being excessive in relation to the services supplied in exchange"

The_White_Horse

kayleighb1985 wrote: »

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.

really !!!! and unfair thing to say?

i go out once a month... spend £20.
buy no luxuries!! well the odd bar of chocolate..

ALL my money goes towards paying off debt and my car...
my car i got a 205 which i run of veg oil to make my monthly outgoing payments cheaper!

so to u saying that all i can say is sod u lol

well, you can save 20 a month easily by not going out.

you can get rid of car, and save on petrol, insurance, road tax, servicing, MOT. don't tell me, you need it. you live in a rural area blah blah yawn...

_Andy_

PadiP wrote: »

Possibly, but it might crash their mail server!

And a more likely scenario would be the people reading the emails laugh at the pathetic 'protest' before deleting them.
Wow, so worth it.

dirtydavey

The_White_Horse wrote: »

who said i was perfect?

it is only the start of something big because you let it spiral out of control. I think it is lies for anyone to say "and then i was hit with a 30 quid charge and this spiralled into thousands".

one charge made all that difference.

even if you are dirt poor and have nothing, you could cancel all DD and fin 30 quid from someone, then close the account. it may not be helpful but at least there will be no more bank charges. may not sort out other problems, but will stop the bleeding.

How would that help? with no bank I dont get paid!

With no DD, I get no gas, elec, etc.

You may have people you can borrow £35 from. But to me thats a hell of a lot of money!