MSE News: Bank charges: banks win test case appeal

The_Hallowed_Way

Tozer wrote: »

Bet he feels really, really proud to have a friend like you.

To be fair to the banker, he probably doesn't realise that marcharrison79 is a friend of his.

maxzorin_2

Long time lurker, first time poster.

Shocked & appauled by today's decision but this is only a setback in my opinion. It appears that the OFT may have argued on the wrong grounds that's all.
When one door shuts another will open as the UTCCR 1999 are quite complex.

This is not over by a long shot & no-one should be thinking of giving up yet!

We should just all wait for the experts to advise how to proceed and then our complaint letters will require some re-wording.

katiefly

Miguel1979 wrote: »

For what it's worth I was not suggesting there should be no charge, I understand a bank is a business and needs to make money. But at the same time the charge needs to be fair and justified.

It't not as if the banks don't make enough from us, in way of interest rates, interest on our money etc.

They also need to assess each case, yes constantly going overdrawn because you want the latest designer clothes, holidays, cars etc, is not right and you shouldn't be able to get away with it.

But as in my case, I have been a customer for over 15 years and have only in the last year incurred these costs due to wage cuts etc (described in my previous post), as a result of the recession - which IMO was largely caused by the banks in the first place.

I like that when they screw up, we as tax payers have to bail them out, but when we get into difficulty, in many cases through no fault of our own, they thank us by taking even more money from us in the form of unfair charges.

I agree with you on unfair charges that banks make on us. The amount what they are asking is just simply too much. And most time these charges are generated by computers, there is no human involved in that process so there will be lots of unfair situations when customers got charged under unfair circumstances.

However, i cannot help and say that those retail banks didn't cause the credit crisis. Yes they are greedy, but the credit crisis was caused by investment banks trading toxic assets like US sub-prime mortgages, that lead to collapse of Lehman and almost destroyed AIG. Those events severely destroyed the confidence in credit lending markets, therefore companies had significant cash flow problems, and we as consumers at the end suffers the consequences of all that.

_Andy_

Love the PM I just got from a certain someone who signed up in a new username but is so dense they can't spell -

"dont suppose theres any chance you chocked on it!"

Bless.
Not sure how someone 'chocks' on a sandwich but there you go.
So cute!

Stouse

Their is no 'Bill'. People good with their money will NOT be funding these refunds. Im sick of everybody implying that.
The banks recieved the charges and have the money stashed away somewhere.
Obviously the banks need to make money, and all the people happy with the Appeal dont care as long as its not themselves getting charged for the service. As long as it doesnt effect them they dont give a !!!!!!. Even if that means sh1tting on all the people not as carefull with their money.
So hide behind all you b0ll0cks and !!!!! excuses, you would all rather !!!!!! all over the poorer people to make sure you look after No 1.

Yorkmackem

Tozer wrote: »

Is this intended to be deliberately dense?

The appeal process is an escalating one. The process has now been exhausted. End of.

Wrong.

The process has been exhausted insofar as the current appeal is concerned.

It'll start all over again with a different approach. No-one (including the Supreme Court) has set a precedent which rules that the charges are fair or otherwise. This is still something to be pursued on an individual basis via the County Courts.

MrGunner

So let me get this straight.

The poorest members of society, along with people who have hit bad times either through thier own means or by unforceen / accidental circumstances, pay penalty charges (which in turn makes them worse off and so on) so that people who dont have financial problems can have a free bank account. yep that sounds like a very sensible and fair way to do things! Hell why not apply this model to every aspect of modern society.

Why dont we get the poor and vunerable to pay for everything! at least that way welthy people can have even more free stuff.

And to all the posters who seem to take a great amout of joy from others misery, im very happy for you! Please continue to use and enjoy your free bank account that i am subsudising with my misery! But should you ever fall on hard times, i hope to god that you dont expect any sympathy!

Sooner i can get out of debt and leave this corupt country the better!

(please note the first part of this message was riddled with irony)

bunker_2

I think this is splendid news. Those who have been charged for UNAUTHORISED overdrafts have either simply disregarded the need for authorisation or have been turned down on the grounds that they shouln't be borrowiing anyway. I can now look forward to continued free banking and NO CHARGES FOR CASH WITHDRAWALS. Listening to BBC's PM programme just now, apparently many people have contacted them with similar views.

PROLIANT

Look, nobody is being screwed over here, your little collective of Martin Lewis bandwagon supporters who have been miss-lead to think of yourselves as victims and that although you are crap with money it is not your fault - Rubbish!

If you have accrued fines/bank charges for being a divvy with money then that is your own fault and deserve everything the bank throws at you, however, if the bank have made an error then the fee should be reversed and any detrimental data removed from your records.

Stop blaming others for your lack of financial management, also, cut this crap about being working class bla bla bla - !!!!!! has that got to do with it? I am working class and earn a sub-standard salary for the job that I do but I don't go around ranting and blaming others for my mistakes.

Good old saying: "Never bite the hand that feeds you"

AArrrrgggghhhhh

Why does it not surprise me. The bankers own the banks anyway. Yep, all this crazy !!!! that happens in the world is done so that the world rely on the Government or elite forces. Come on people, we're not their robots, yet. Visualise that you already have money, visualise all those cheques coming through the post. Here's a great afformation: why do I always have more than enough money in the bank NOW.

Also, check out the money magnet song on Youtube. Also, check out truthknowledge.com, full of useful stuff that the Government do not want people to know. Peace.

Sorry I couldn't add my links.