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MSE News: CONFIRMED - OFT gives up bank charges battle
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neilthegooner wrote: »Sorry I don't mean you I mean KimYeovil.
Sorry to jump on you then but I was getting quite irate. I understand you didn't mean me and for that I apologise for jumping on you. This whole business has astounded me as to how people can behave in such a holier than thou way. I never thought i'd find myself in this position but I have and now I am struggling to find a way out of it. I sympathise with anyone else and feel very strongly about the way banks behave. Let's face it we know they've been ripping consumers off for years. we've only to look at PPI for example. This for me is no longer about getting money back. How can I when I haven't even been able to pay these penalties. This is about fighting to make a fairer system for all.0 -
Here is another classic from Kim. Not much point in engaging her in reasoned debate, her opinions are way too extreme. Wonder how she formed those views? Maybe she got a shock of some kind given the posts she makes about electricity. So, we should be careful not to shock her any more.:p
27-11-2009, 8:27 PM #8 KimYeovil
Fantastically Fervent MoneySaving Super Fan
Join Date: Aug 2008
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If some recalcitrant unemployed loafer is prepared to be suited and booted for £50 (or insists they can only afford to pay £2 for a chicken) here's an alternative proposal - since they don't give a damn about workers in the rag trade we should build factory ships and anchor them outside UK waters. If they refuse a minimum wage job (or if they play up when given a placement) then they get sent off to the ship for six months where they can be paid £5.80 per day.
We can send debtors and bankrupts there as well to pay off their debts. (As a concession they can be notionally paid £5.80 per hour but only as a credit towards their debts.)
Last edited by KimYeovil; 27-11-2009 at 8:31 PM..
Please ignore those people who post on this forum who deliberately try to misinform you. Don't be bullied by them, don't be blamed by them. You know who I mean.
You come here for advice, help and support- thats what I and like minded others will try to do.0 -
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Frank_John wrote: »If I take cash into a shop do you think the shopkeeper will let me walk away with goods costing $200 if I only have $195. I doubt it.
No, and the banks should do the same. But instead they let people "walk away" with more so they can charge them money in fees.
Also, well done for being so good at managing your finances - it's just a shame that it's made you blind to the bigger picture. Feel free to actually read this thread from the start though - going by what you've said in the part of your post I didn't quote, you clearly haven't.0 -
Sorry to jump on you then but I was getting quite irate. I understand you didn't mean me and for that I apologise for jumping on you. This whole business has astounded me as to how people can behave in such a holier than thou way. I never thought i'd find myself in this position but I have and now I am struggling to find a way out of it. I sympathise with anyone else and feel very strongly about the way banks behave. Let's face it we know they've been ripping consumers off for years. we've only to look at PPI for example. This for me is no longer about getting money back. How can I when I haven't even been able to pay these penalties. This is about fighting to make a fairer system for all.
We all relate to how you feel. Sadly, this situation is all too common and the impact on peoples everday lives is terrible.
Keep focussed though. Remember, you have become empowered through this situation and are much better equiped to tackle the financial institutions.Please ignore those people who post on this forum who deliberately try to misinform you. Don't be bullied by them, don't be blamed by them. You know who I mean.
You come here for advice, help and support- thats what I and like minded others will try to do.0 -
I am seriously not trying to be facetious, but does your “basic day to day expenses” have to include internet access?
If I had only £100 a month for food, I would re-examine my priorities.
The bottom line is that the banks rely on people failing to manage their finances properly. It forms part of their business plan. Ryanair rely on people not to read the small print and then refuse them their flight unless they pay an extortionate fee. They are scum but if you play the game well you can get free banking or cheap flights.
The solution is to beat them at their own game. NEVER go overdrawn. ALWAYS ask for an agreed overdraft just in case (but don't use it).
Like alcohol addiction, the solution starts by accepting that only you can fix the problem. I know people with debts that may lead to bankruptcy. They smoke, drink, drive, have mobile phone contracts, internet access and expensive pets. You have to accept some criticism and use it to improve your lot.
Every journey starts with a single step.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
Sorry to jump on you then but I was getting quite irate. I understand you didn't mean me and for that I apologise for jumping on you. This whole business has astounded me as to how people can behave in such a holier than thou way. I never thought i'd find myself in this position but I have and now I am struggling to find a way out of it. I sympathise with anyone else and feel very strongly about the way banks behave. Let's face it we know they've been ripping consumers off for years. we've only to look at PPI for example. This for me is no longer about getting money back. How can I when I haven't even been able to pay these penalties. This is about fighting to make a fairer system for all.
I canceled all my DD, and that has stopped all charges.I pay everything through online banking, when it suits me.0 -
Whatever the situation, whether people have phone contracts/internet etc or not..
The fact remains the charges are unfair. Nothing anyone can say or do will change that.0 -
neilthegooner wrote: »I canceled all my DD, and that has stopped all charges.I pay everything through online banking, when it suits me.
which is all well and good until you get slapped with that old favourite "late payment fees"Always remember that you're unique, just like everybody else:cool:0 -
Whatever the situation, whether people have phone contracts/internet etc or not..
The fact remains the charges are unfair. Nothing anyone can say or do will change that.
Correct.
The OFT still feels that way- refer to press release
The SC said much the same- check their judgement.Please ignore those people who post on this forum who deliberately try to misinform you. Don't be bullied by them, don't be blamed by them. You know who I mean.
You come here for advice, help and support- thats what I and like minded others will try to do.0
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