Bank Charges - Banks Win!

Leg-end_2

I am sorry but banking is not free. If you took/spent/borrowed/stole (choose your preferred word) money that was not yours from a bank then why should this be a free service. I understand that it may have been a mistake. I know people will argue that the charges are not fair but it is not fair to expect an organisation to accommodate your need for more money.

Part of the potential backlash on here will no doubt be from people anticipating getting their money back. Of course I have paid occasional fees to my bank, but it taught me a lesson to be more careful.

instaunt

exel1966 wrote: »

Can I reclaim this that and the other from my bank because I couldn't be bothered to manage and maintain my account properly !

... and if you ever say that in those threads you tend to get beaten up!

I'm all for pushing the banks to stop taking advantage of those in tight financial situations but this was so vague and so encompassing that everyone that blows their cash on Jimmy Choos without thinking about their balance would never be held to account for anything ...

Rupert_Bear

PROLIANT wrote: »

Oh give it rest, it is people like you who need taking in hand and re-educating. :rolleyes:

I can understand how you feel but it is no good getting bitter. You helped yourself to the banks money without permission and this is the result.

There plenty of other ways to may a fast buck. :j

dickydonkin

never-in-doubt wrote: »

Oh sorry that you're soooo perfect and do everything right!

Don't take this the wrong way but I really hope you lose your job, struggle to pay your bills and your lenders come down on you like a ton of bricks and then watch you ask for help (tail between your legs).... how pathetic do you sound?

Its a grave fuk-up that should never have been allowed to get that far (the banks lost twice, they can appeal and then they win at Supreme but then Supreme say to OFT they cannot appeal to Europe? Ermmm, ok whatever!)

never-in-doubt

Me and the MR's both lost our jobs recently and let me tell you it is not a nice place to be.

Fortunately, we 'made hay while the sun shone' and arrranged our finances, had insurances in place, overpaid our mortgage and still managed to save while the money was coming in during our employment.

When we were made redundant, there was a minimal amount left on our mortgage which we paid off due to being prudent in the good years.

Insurances kicked in which paid off outstanding loans and there was a little income from interest on savings.

Due to decent financial management, we weathered the storm and we are now back on our feet and wages are now coming into the household.

By wishing someone to lose their job, struggle to pay their bills and lenders come down on them like a ton of bricks and then ask for help is a pretty drastic comment to make and by asking someone not to take these comments "The wrong way" , enlighten me, how is one expected to take such crass remarks?

No I am not soooooooo perfect and I don't do everything right, but I have managed to overcome a difficult period - aided by simple financial prudence.

The reality is that the Banks have won through the courts so get over it and move on. Being bitter and twisted and making offensive comments over the matter will eat you up inside and muddle the mind.

PROLIANT

Rupert_Bear wrote: »

I can understand how you feel but it is no good getting bitter. You helped yourself to the banks money without permission and this is the result.

There plenty of other ways to may a fast buck. :j

I am not the one seeking to reclaim bank charges old man, I manage my money well and live by the cut of my cloth so to speak - maybe we have our threads crossed here as there seems to be some confusion. Best clarify this first eh.

Leg-end_2

never-in-doubt wrote: »

Oh sorry that you're soooo perfect and do everything right!

Don't take this the wrong way but I really hope you lose your job, struggle to pay your bills and your lenders come down on you like a ton of bricks and then watch you ask for help (tail between your legs).... how pathetic do you sound?

Its a grave fuk-up that should never have been allowed to get that far (the banks lost twice, they can appeal and then they win at Supreme but then Supreme say to OFT they cannot appeal to Europe? Ermmm, ok whatever!)

'Don't take this the worng way'.......

What an absolutely disgraceful post. To wish that upon someone that you do not know because you feel safe hiding on a forum. Forums are great for advice and information. Unfortunatley some people choose to make ridiculous comments from the safety of their PC. I would put considerable money on it that you would never make such comments in a face to face discussion with someone. Hang your head.

kinglewis

I'm glad the banks have won this case.. if it means I can continue to bank for free for playing by the rules than that is good news for those who manage their finances well. (which should be encouraged not discouraged)

I do agree the charges are excessive but they should be viewed as a penalty rather than a service charge because the banks don't want you to do something that is 'unauthorised'.

Just look how much a speeding ticket / parking ticket is????? Most people pay that and put it down to carelessness.

I don't think anyone should be on here wishing bad things happen to other people. There are more important things in life than money & bank charges!!

BASFORDLAD

Never-in-doubt seems to have some serious issues

simax

Whilst I'm very "Meh" about the ruling, as I wouldn't have cared either way, I do wonder though if the likes of NatWest/RBS will now start to creep those recently reduced charges back up, safe in the knowledge they can charge what the hell they like?

olly300

dpassmore wrote: »

I can understand some people being somewhat disappointed with the outcome, but I do believe it was the correct decision.

I have a reasonable authorised overdraft facility with my bank (Barclays) which is rarely used but I have in place for any unexpected or emergency expenses.

Not everyone is allowed to have an authorised overdraft.

dpassmore wrote: »

I always keep a minimal amount in my current accounts, however, the bank pay my bills, cash cheques, arrange my standing orders all without charge.

Not everyone can have such a financial cushion.

There was a poster who recently posted on here about why their account had 47p less in it than they had calculated and wanted to know why the banks figures didn't add up with their spending.

This is the kind of person who this case was fought for. Unfortunately others who are less financially responsible jumped on the band wagon.

dpassmore wrote: »

I use their internet banking with free online security if I require it and after 30 odd years with the bank, on the whole, I have had a very good service from them.

I cannot comprehend why people complain at excessive bank charges when many could have been avoided by better management of their finances

As someone who has not paid bank charges for an unauthorised overdraft for years I find UK bank charges for example currency exchange, Chaps payments, extortionate. I have lived in another European country where I paid banking fees and the cost of doing paid for transactions was approximately a third less.

dpassmore wrote: »

If this decision had gone against the banks, I would then likely have to pay for all of the free services mentioned earlier plus other expenses such as being charged for taking MY money out of a cash machine all due to others financial mismanagement.

The only reason you don't pay for withdrawing money at cash machines is because the Nationwide fought against the fees being implemented.

If it wasn't for them you would be paying regardless of whether the rest of the majority of your banking was free.

dpassmore wrote: »

Although the Banks are not everyones favourite institutions at the moment, many would like to have seen them get their asses kicked, but the decision was the right one and common sense has prevailed.

Bank charges need to be capped - it shouldn't cost £35 to send someone an automated letter to tell them they are overdrawn. And the actual court case did achieve something as it made banks look at their charges.