Bank Charges - Banks Win!

never-in-doubt

eschaton wrote: »

No need for a witty answer when I see you are still bitter and defensive :rotfl: :rotfl: :rotfl:

You confuse defensive with confidence....

never-in-doubt

td_007 wrote: »

I refer back to my earlier post....you have to live within your means. If one is on just job seekers allowance then make do with what one has - sell off the house, car, tv, mobile etc. etc. Get a min paying job at macDs and make do with what one earns...the options are there. Borrowing is not a right!

You make it sound so easy mate, we all know it isn't that easy after all though!

We've used example after example - even so far as one member that saved £50k and due to an accident (no fault of his own) used it to live on, but as the illness prevails his money has gone. Now he gets bank charges etc - how is that his fault when to all intent and purposes, he was more than adequately prepared for a slight mishap - not to be disabled!

Sorry, but sometimes you guys just gotta get off the high horse and smell the coffee..... try being a realist instead of a perfectionist and you'll see that sometimes, just sometimes things are taken out of our control.

eschaton

never-in-doubt wrote: »

You confuse defensive with confidence....

I'm not the one confused.

vaporate

td_007 wrote: »

I refer back to my earlier post....you have to live within your means. If one is on just job seekers allowance then make do with what one has - sell off the house, car, tv, mobile etc. etc. Get a min paying job at macDs and make do with what one earns...the options are there. Borrowing is not a right![/QUOTE]


1. Easier said than done. Specially when one grows attached to it. What if you have no house, goods or car to sell?

2. Not so.

3. Yet the banks 'borrow# the customers money everyday (when in credit) at a very bad 'interest' rate. Yet banks charge high interest when 1p over a overdraft. Even when these 'banks' were bailed out by the very people they are charging!

td_007

vaporate wrote: »

1. Easier said than done. Specially when one grows attached to it. What if you have no house, goods or car to sell?

2. Not so.

3. Yet the banks 'borrow# the customers money everyday (when in credit) at a very bad 'interest' rate. Yet banks charge high interest when 1p over a overdraft. Even when these 'banks' were bailed out by the very people they are charging!

1. whose fault is it one has got attached to it - now detach and bear the consequences

2. completely disagree - there are jobs: low paying, hard work etc. and if all else fails there are benefits and again learn to live with what one gets

3. banks do not force anyone to lend them money - people are free to hold on to their money and save it under the mattress. You get hit with a £80 fine if you overstay even one extra minute in a car park - the point is if one has agreed to a set of conditions then one is obliged to to follow them.

td_007

never-in-doubt wrote: »

Sorry, but sometimes you guys just gotta get off the high horse and smell the coffee..... try being a realist instead of a perfectionist and you'll see that sometimes, just sometimes things are taken out of our control.

The key word is "sometimes" - would you say that billion odd pounds reclaimed were all by people who had absolutely no control of their circumstances? Or the majority of people who have put in claims are the ones who have had something drastic happen in their lives that pushed them to unwittingly borrow? There will be a small subset of people who genuinely face hardships and banks would be position to help them more readily if they were not stretched by those wanting a free ride by being irresponsible with their finances.

vaporate

td_007 wrote: »

1. whose fault is it one has got attached to it - now detach and bear the consequences

2. completely disagree - there are jobs: low paying, hard work etc. and if all else fails there are benefits and again learn to live with what one gets

3. banks do not force anyone to lend them money - people are free to hold on to their money and save it under the mattress. You get hit with a £80 fine if you overstay even one extra minute in a car park - the point is if one has agreed to a set of conditions then one is obliged to to follow them.

Poor reasoning for justifying unfair bank charges. Moreover, keeping cash at home is hardly an alternative.

Also disagree with possible low paying jobs because I've been there and got the T-shirt. There are 100 000 unemployed graduates according to Sky News not long ago. Even low paying jobs are hard to come by.

On the subject of just applying to low level jobs, some ppl have kids to feed (not me) and low level work is not an option. Specially with previous credit card debt added on top and what not.

It is said getting credit from a bank is not a right, well, I think that cuts both ways along with the consumer when banks take credit from the customer, except the customer doesnt have the 'right' to charge crazy charges.

Wouldn't it be wonderful if we, the client, could rack up our own charge for our services, i.e money.

td_007

vaporate wrote: »

Poor reasoning for justifying unfair bank charges. Moreover, keeping cash at home is hardly an alternative.

It was not meant to be taken in a literal sense - before signing up for an account one know what the t&cs are and it works both ways. One gets the interest/ free cheque book/card/free atm/free transactions and also the charges when applicable.

vaporate wrote: »

Also disagree with possible low paying jobs because I've been there and got the T-shirt. There are 100 000 unemployed graduates according to Sky News not long ago. Even low paying jobs are hard to come by.

Hence why I also pointed out benefits and living within those limits.

vaporate wrote: »

On the subject of just applying to low level jobs, some ppl have kids to feed (not me) and low level work is not an option. Specially with previous credit card debt added on top and what not.

There is no excuse if these debits have accumulated as a result of living beyond one's means - and benefits do provide help for kids as well I am sure (though not sure how much) but admittedly to not to the "opulent" life style on borrowed money.

td_007

vaporate wrote: »

It is said getting credit from a bank is not a right, well, I think that cuts both ways along with the consumer when banks take credit from the customer, except the customer doesnt have the 'right' to charge crazy charges.

And indeed customers do have the choice to select the charges for e.g. go for a in-credit account or fee free overdraft account, a high interest account or account with certain benefits - there is a "charge" associated with all these to the bank. You are free to move banks/credit cards to get better interest rates - rate tarts as we are proudly called. I have given an example where I have claimed £50 from the bank for a mistake it made with the rationale that if the bank would have made a similar charge if I made a mistake. But you can only do this from a position of power i.e. you are in control of your finances.

vaporate

td_007 wrote: »

It was not meant to be taken in a literal sense - before signing up for an account one know what the t&cs are and it works both ways. One gets the interest/ free cheque book/card/free atm/free transactions and also the charges when applicable.



Hence why I also pointed out benefits and living within those limits.



There is no excuse if these debits have accumulated as a result of living beyond one's means - and benefits do provide help for kids as well I am sure (though not sure how much) but admittedly to not to the "opulent" life style on borrowed money.

I'm confident enough that living on benefits is nowhere near enough to live on. Even more so with kids to look after, along with the costs that come with it. (Even when considering the cost of having a child, there is never a job guaranteed with regualar income)

If the benefit system was so perfect there wouldn't be ppl living on the streets. Desperation leads to debt when credit is tight, specially right now. Which is why some people have turned to loan sharks rather than banks.

I don't pretend to know all, because I don't, I just know the obvious fact that unfair bank charges will just impair people further.



p.s I'm in full control of my finances with no debt. I just like to play devils advocate with such an example like this.