MSE News: Bank charges: banks win test case appeal

wallbash

Been an interesting day on the forum, quite at home so spent more time than normal
here. When I posted early ( just after 10am ) that I was pleased with the result , I thought i would be abused and mocked :rolleyes: Pleasantly pleased with having some positive encouragement.

I have noticed those that are screaming loudest , have the lowest post counts/joined very recently.

Viper_7

Indeed. The charges are clear if people actually take the time to read what they are signing up for.
The old argument of why do banks allow you to go overdrawn is thin. Would you be happy stood at the till with a pile of shopping and find your card rejected?

However do believe banks shouldn't double charge, for say a charge which puts you overdrawn and then charged again for being overdrawn!

Banks openly admit that charging those who go overdrawn without permission etc pays for Free banking enjoyed by those who keep an eye on their expenditure and budget.
I would have been well peeved if I was charged for ATM services/internet services and all the other services I currently receive "free" because of others using the unauthorised overdraft facilities and then complaining about being charged for it as documented.

This doesn't mean people can't question the fees for small oversights. Banks may still waver these, but they don't have to.

fatlad9

thanks Mr Lewis for your continuing efforts!!

:beer:

if nothing else this whole refunding of bank charges has at least made some banks reduce fee's..

oldwiring

Stephenbw wrote: »

Why do people keep saying that this will affect the poor ?

The 'poor' people I know, pensioners and disabled people on small fixed incomes, are not affected by this as they don't overdraw.

The older generations wee not so cushioned against misfortune as now, and so were careful not to over commit themselves. They also had a moral compass to guide them.

pie81

mogsy77 wrote: »

i have received a letter off my bank offering me £3000 of my charges back will they still have to pay me as the letter states?

Get on and accept it quickly. They have probably put a withdrawal letter in the post...!

jamespir

mogsy77 wrote: »

i have received a letter off my bank offering me £3000 of my charges back will they still have to pay me as the letter states?

i belive they should but im not sure if they will

scotty1971

time just to get on with things,and review your finances

mogsy77

i have accepted it thats the last of my charges back ive had 5 grand off them in two years it was like a savings club lol

PadiP

oldwiring wrote: »

The older generations wee not so cushioned against misfortune as now, and so were careful not to over commit themselves. They also had a moral compass to guide them.

And also probably remember the hard times of the 30s when the main financial institutions affecting them, usually building societies were far more understanding, rescheduling payments and being just that important bit more humane - after all, if their investors went down, so did they, as at that time the government wouldn't have bailed them out with our money.

gordikin

mogsy77 wrote: »

i have received a letter off my bank offering me £3000 of my charges back will they still have to pay me as the letter states?

Have you replied accepting their offer? If not I suspect you will get a letter tomorrow withdrawing the offer.