MSE News: Bank charges: banks win test case appeal

jodenice

there are quite a few newbies posting on here today aren't there, overjoyed with the bank ruling? Trolls or bank employees I assume.

marcharrison1979

Everything would be fine and nobody would be complaining if the banks played fair. Other companies and business get into trouble for monopolising and heavy fines are given for price fixing. Banks however seem to get away with whatever they like. For those a-holes on hear that keep stating the obvious - which is banks are out to make profit. Shut your traps you ignorant c*nts! nobody is saying the banks shouldn't be allowed to make a profit, however since you have made that point, wouldn't the world be a much better place if all the banks were owned by the people who banked with them? there would be no fat cats, just decent honest law abiding folk who aren't just out to line their own pockets at the expense of those which are less fortunate than them. The current banking system is rotten to the core, all banks should be non-profit organisations who look after the interests of their customers and not their shareholders. As long as the banks are getting away with things like this, this world is always gonna be full of criminals and corruption. If you work for a bank, I hope you don't die on your way home from work.

j19

jodenice wrote: »

there are quite a few newbies posting on here today aren't there, overjoyed with the bank ruling? Trolls or bank employees I assume.

Could say the same about newbies raging about the decision.

pingchris

how can a missed direct debit be classed as an overdraught,if i am not in effect overdrawn by any amount of money,this case was about overdraughts,does a missed direct debit charge apply to this case ?

brussellsprout_2

I would just like to say I think the banks knew the outcome of today. My claim has been on hold for 6 months, in the last month I have been bombarded with letters from HSBC s debt collectors Metropolitan collection agency. They had been advised it was on hold but I continued to get the letters. Today I received a letter from HSBC bank to say that their charges are fair and the debt collectors are dealing with this!!!Whilst I agree I should pay bank charges but not what they have been and I should be refunded the difference. Were these letters just coincidence?

Percy1983

Not a newbie and I am happy as I don't now have to pickup the bill of the people who have got themselves charged.

Tiger_greeneyes

It's all very well saying we didn't have to sign the banks' contracts, but we're over a barrel from the start. The government has made it unofficially compulsory we all have one. I never wanted a bank account, yet none of the jobs I've ever had have paid wages in cash and refused to do so when I asked. Once you've signed the contract, there's nothing to stop the banks increasing the charges bit by bit. If, like a good nuimber of people, you find you need every penny of your income to survive from month to month, and you hit a tough period (time off sick etc) then just one charge being applied to your account could start off a chain reaction of spiraling debts. Nobody does that to themselves on purpose but it wouldn't happen if we could choose not to have a bank account. Unfortunately we don't have that much freedom in this fine 'democrasy' we enjoy. Over the years, I've seen my bank increase their overdrawn charge from £5 to £35. It's a bit like inflation - your income gets left behind as the charges increase - and you're powerless to do anything about it because the government have us over a barrel and have made it impossible to survive without a bank account. If there's anyone who's got any ways around not having a bank account then I'd be really grateful if they could share it, I'd be more than happy to ditch my account.

superdood

jodenice wrote: »

there are quite a few newbies posting on here today aren't there, overjoyed with the bank ruling? Trolls or bank employees I assume.

Existing members, new account, different username. Trust me.

catinahat_2

Having read the first part of the supreme court's ruling, it seems to me that this makes a mockery of the very existence of 'governing bodies'.

If the OFT is not allowed to 'officiate fair trading' then what is the point of there even being such governing bodies. Surely, its very title, FAIR, should allow it to undertake the tasks and responsibilities to which it is there for?

To me, this ruling by the supreme court (formerly, the house of Lords if i'm not mistaken...??) against a governing body and indeed, the consumers to which that body is responsible, smacks of being at best, Orwellian...

" All pigs are equal.... but some are more equal than others..."

We have the OFT and FSO to ensure 'fair play'. But.... that is, until and unless, the 'ruling minority' (Banks, CEO's, Corporations, Lords and financial bodies) in their positions of privelige and power, see that members of their peer group have screwed up (ie banks, massive corporations) and had a devastating effect on our economy( recession, downturn in the economy, credit crunch etc etc) therefore, the masses, who consist of the ordinary man/woman, must pay for their mistakes... and the ruling bodies must have their hands bound because they can only practice 'fairness' when it suits the higher echelons?
12,000,000 banking customers paying exorbitant charges are financing approx 42,000,000 non-fee paying customers... which is roughly what 30 per cent?
I truly think this ruling has little to do with 'fairness' or indeed the legalities of the British constitution, judiciary, or Social Policy as such, but on the ramifications that ruling against the banks would mean.... thats my opinion and I think it is a tragic day for not only individual consumers, but for the whole integrity of our legal (and moral or immoral) system!
This gives them licence to do what they want without redress... because what can the governing bodies do about it when they have there governing powers rendered impotent by the 'Lords' who wouldn't have a clue what personal hardship means...?

technodup

DMC65 wrote: »

That just shows how ignorant and mindless you are, the system loves people like you, because if you're a tax payer you have already helped pay the banks to the tune of £61B to stay afloat you imbecile.

The system loves people like me? The system loves the muppets paying bank charges more ya tube. We're all taxpayers- we've all assisted the bailout. What I haven't done is paid in any other way like most of the nuggets on here. My direct day to day banking is free. For lots on here is clearly isn't. What exactly is your point?

You sound like a bitter bitter wee man. "The big bad banks done it and ran away".

:rolleyes: