MSE News: Bank charges: banks win test case appeal

Dan_Bailey

I can't believe there are people on here claiming to directly profit from others misfortune! If everyone of us on here who have incurred these horrendous charges were like you - prudent and wise with money, are you saying the banks would have no other alternative but to charge for current accounts? Its a fact, banks and the wealthy profit from the extortionate charges paid by the poor and unfortunate.

MrLeeLee

dirtydavey wrote: »

I got sick of arguing with the 3 or 4 people that are telling us that we expect a free ride. That we are stealing. That we should be more carfull with our money. That we are going to end free banking.

I think it's funny when one of the 'i'm so great, i have never been charged, you are stupid because you've been charged' brigade posts something and the other 3 follows (sheep) 'thank' them for the post LOL.

Quick, someone agrees with me! I'll click thanks and it'll make it looks like i'm the majority!

Seriously, just try to ignore them, they'll soon go away

pleb_2

The_White_Horse wrote: »

you just heard that on Flash Forward!!!

Oh no Ive been outed

I'm sorry, I admit it... I... I watch channel 5

Stephenbw

PadiP wrote: »

Which they certainly will do - and still charge you if a dd or cheque gets bounced.

I used to work in the finance section for a local authority and part of my job was to deal with bounced cheques.

It cost the local council tax payers tens of thousands every year in staff and admin costs sorting out these cheques returned 'Refer to Drawer' and many of them were 'regulars' who ignored the letters we sent them and bounced cheques every month. Unfortunately the council had no authority to recoup these costs from those issuing rubber cheques, so we all had to pay for their !!!!lessness.

If we adopted the French system and removed banking facilities from serial offenders it would discourage overdrafts and save the majority who play by the rules a small fortune.

The_White_Horse

qprfcmark wrote: »

For someone so righteous I bet you don't do what you preach you sanctimonious hypocrite!

i go to work on public transport.

i repaired my car the other day, from money i saved throughout the year for that very purpose.

it is called planning.

if i had a yacht and it went wrong, i couldn't afford to fix it, so i don't have one. same is true of a range rover. don't get what you can't afford. if you choose to have a car, then realise that repair bills are coming your way!!

Dan_Bailey

How is printying the letters back off this site and reclaiming money back that we have originally paid months or years ago, at any financial benefit to anyone?

shooter

So this judgement has seriously put things in a spin for us all, but as I have read before I am sure that this is not the end of the matter. from My limited knowledge of the law and the legal jargon used I read into what has been said that the supreme court have in a round about way given the OFT a hint as to there being other avenues for them to go down to have the charges reduced or even totally refunded to us all. Guess will just have to wait and see.

danm

I have a genunine question to those who feel the banks are ripping them off.

forget the issue of fairness. This ruling wasn't about fairness it was about contracts.

Why do you feel in this instance that the contract should be unenforable by the bank. What other areas in life do you feel this should apply and are there areas where you are on the positive end of a contract.

I understand that no-one set out to intentially get into financial difficuly, but i'm genuinely interested to hear why people feel, when things don;t go to plan, they should be able to bbe absolved of the responsibiliities and penalities that form part of their contracts.

i.e. mortgages - should the bank be able to tear up those mortgage contracts of those people which -0.605 BRT's? They didn't see that happening.
- should i be able to tear up my blockbusters contract when i'm charged a late fee.


As i say, fair or not (and for the record i think charges are excessive - but also feel there should be some punitive measure) is not the question. Nnor was it the basis of the ruling.

gordothegopher

I think the whole argument over whether this was a fair and just decision or not is now irrelevant. The banks have won this, and although there may be other avenues of appeal, I think it would be unwise for anyone to be 'relying' on bank charges being refunded.

We should turn our attention to more practical matters, like

- how to avoid unauthorised overdrafts in the first place (tell your bank not to permit it on your account, for instance?).
- changing direct debits to standing orders or paying bills by debit card/online payment to avoid companies having control of money they take out your account, cutting down the risk of accounts going into an unauthorised overdraft
- using this site and others, plus other good tips and a bit of common sense to save money
- shop around for good deals on bank accounts
- look at our outgoings and see where savings can be made (I know for almost all of us, there is always room for improvement)

It may not be possible now to reclaim money that has been, fairly or otherwise, taken in charges by the banks. Rather than expressing outrage at the banks, it would be a more valuable use of everyone's energies to ensure that the banks can't charge them again.

orc_2

mramra wrote: »

Most of us who are prudent and carefully budget to ensure we don't get hit with bank charges are happy that we will not have to suffer in the form of across-the-board charges for current accounts.

It's not a case of enjoying others bad situations, but rather being pleased that our prudence has benefitted us.

In these days when we hear so often of people living off benefits etc. it's good news in my eyes for hard work and prudence to be rewarded.

I work- damn hard.

I don't have debts, after a long struggle, but I have a long memory and I remember what it like.

I'm glad for you in your situation.

I hate the banks for what they have done and do to people and I will continue to support people in the recharges campaign, which is far from over. I don't have to, I want to.

The people in charge of the banks brought this country and the entire world to the brink of collapse. Our children will be paying for it for years. All of that was based on greed and quick, easy profits. And people side with them??

You continue to be comfy, but please don't trust the banks. You continue to be comfy, but don't sound smug (because although you may not mean to, it comes across that way) as sometime, on a different issue, you might need some support or encouragement.