MSE News: Bank charges: banks win test case appeal

MillaJoJo

marcharrison1979 wrote: »

That was just scare mongering by the banks and i'm so surprised how many people have been daft enough to fall for it.

The banks have succeded in dividing us as a community in order to turn the rest of the population onto the claimants.

The exact same thing is happening in a current court case I am closely following about incorrect Toxic Waste disposal and deformities in children. The Council stated they have a duty to the council tax payers to fight the case to stop any compensation being paid.

Of course they succeeded in dividing the community and now the claimants look like the evil party. The residents don't care about the children and their deformities as long as they make sure they don't have a rise in council tax to cover any payable compensation.

bigredone_2

Will this judgement affect credit card reclaiming?

Thriftysaver

From what I remember about getting bank charges a few years back, when my oh came out of work, I didn't actually 'borrow' more money from the bank, because my 'failed' dd's did exactly that. They failed, so they didn't get paid. I enjoyed the privilege of receiving a £35 charge from the bank, and as I was upto the max on cc's was also charged £25 late payment fee and £25 overlimit fee. So a £44 dd that did not get paid cost me £85 plus I still owed the £44 which invariably cost me another overlimit fee. We then spend the next couple of years doubling our payments to get straight, with no quality of life.

Sometimes things happen in life that are unfair, but you make the best of it. I know why this judgment was made. Public policy. It would cost too much and it would go on and on. And yes there would be an end to 'free' banking. But who's to say the banks won't concoct another way of ripping us off.

I was told that I agreed to these terms and conditions when I signed up for the account. But I signed for my account 23 years ago and the terms and conditions were different way back then. Over a lifetime things happen. I got a divorce, lost a second income, received no maintenance for our 4 children and surprise surprise I started getting into financial difficulty. I couldn't work enough hours. I was already working split shifts so I could pick the children up from school and my mum could look after them whilst I went back to work. I was incurring £125 charges every month (although my mortgage never once got missed). I asked the Abbey National for help, being truthful and explaining my circumstances. Did they want to help. Yes you guessed it. No they bl**dy well didn't.

So no. I'm not shocked, just disappointed. I am a law student at the moment (a dream I am at last fulfilling) and no doubt this will make good debate in my Contract lecture.

Thriftysaver

ALIBOBSY

bigredone wrote: »

Will this judgement affect credit card reclaiming?

As this related purely to unauthorised overdraft charges and fees the credit cards are just the same as they always were.

ali x

berkshirelady

LATWTTB wrote: »

Failing to assess possible risks for the future-take out insurance to safeguard these risks. Not doing so-Mis management:rotfl:

what, like overpriced, rip-off PPI from said same bank???

Charlie94

berkshirelady wrote: »

Nice in theory, if the banks will communicate with CCCS et al, and put in place these procedures. 12 months down the line and I'm still waiting...

Apart from your experience of working with people in this situation do you actually have any hard evidence for your views on people with debt? Are there any studies that can back this viewpoint up?

I certainly have n't seen any.

MillaJoJo

mramra wrote: »

I can't believe the number of comments like this one that imply that those who are prudent with money, taking care to budget are somehow to blame, while those who borrow money from their banks without prior approval or consent are somehow the victims in all this.

No one is saying you're to blame. Not once has that been suggested. I do suggest you read through my post further to understand what I wrote, and to whom.

LATWTTB

Skintman001 wrote: »

I have charges of £60 , £100 & £125 on my statement how can these amounts bbe clased as fair for a computer generated letter!!!! again its the small people who get screwed by those with money!

I think the ruling is hilarious and absolutely just. The banks are a business. They are in the business of making money. Any other business will charge you for their service/products-why shouldn't the banks? "But they are not fair charges" I hear all you lot cry. Well I paid £3.50 for a bottle of water in London t'other day and I am pretty sure that it did not cost the producer or the retailer that much to supply it to me. I still paid it because I was thirsty and that is the going rate in that particular shop....I didn't have to buy it....see where I am going with this???
The vast majority of bank customers abide by the rules and are never charged a penny even though the bank provides them with their money from any ATM worldwide, will pay cheques on their behalf, will pay all their bills by direct-debit etc. etc. etc. All they ask is that if you ask them to do all these things for you (without any cost to yourself) that you have paid sufficient money into your account to cover all of these requests. For the few people that abuse this generous system then they will charge you and rightly so! If the ruling had gone the other way then the MINORITY of abusing customers that are charged (and through spokespeople like MSE) will have suceeded in reducing charges. BUT ONLY FOR THEMSELVES! The banks would have started charging fees for EVERYONE using their accounts! Another story where the minority that can't stick to the rules spoil it for everybody! How is that FAIR to me or my 89 year old grandmother???
So yes I laugh in the face of you all and MSE.
Mr Lewis you seem to have made yourself famous by dishing out what can only be described as poorly advised information. You should be ashamed of yourself. I am sure I heard you advising shoppers t'other day to go with their friends and take out strecards one at a time when they go shopping to benefit from a group discount. Here's the rub!-the people that will listen to you and do this are likely to do this each time there is an offer and before they know it they have 2 or 3 cards. Now what are all those credit applications going to do to their credit files?? Exactly.

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:: rotfl::rotfl:

historytart

i used to work in a bank, and i know we would target those people who were either on benefits or not monetary orientated to take products they could not afford, this would then start a spiral of bank charges. I really feel for people banks are all about sales now nothing else

tonyb299

Ansu wrote: »

It is worth noting that just about every bank/building society out there has procedures in place for people in financial hardship to avoid being charged. The charges are, and always have been mostly avoidable; manage your account correctly

I'm glad this went the way it did, not just to avoid the compensation culture that is growing in this country, but because I believe free banking should stay the way it is. etc.

Your living in a dream world! They charge you just the same in the real world and I'm telling you from past experience.

Yes, i'm sure you do love having those who can't afford to pay for your free banking.

Its those who want to keep charges being levied on those in difficulty who are the REAL SCROUNGERS.

just wait, come sunday half the hipocrites will being in church telling everyone how charitable they are and how they want to help those who are struggling in this day and age.

I don't have debts... BUT i absolutely hate those who profit from others misery.