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MSE News: CONFIRMED - OFT gives up bank charges battle
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If you keep a check on your finances you will see problems as soon as they happen and will be able to take action to prevent further charges being applied.
It would be prudent to check your accounts daily if your finances are such that you may stray into unauthourised overdraft.
In fact doesn't everyone do that anyway?
no point i think this one is away with the banking fairiesmissed direct debit charges,very odd,theres no pain so how come the big gain,i.e £39.00 for a letter0 -
You're assuming that everyone has Internet access or is able to use telebanking. Perhaps it's a minority, but there are some people that still rely on monthly statements.
I use monthly statements and always have done. I add what goes in and take away what will come out in the form of DDs before the next payment in - result I know what I have available to spend and spend no more than that.
Whatever method you use, it isn't difficult to work out what you have already committed yourself to pay
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You're assuming that everyone has Internet access or is able to use telebanking. Perhaps it's a minority, but there are some people that still rely on monthly statements.
No.
There are very few who have no access to a telephone or an ATM.
I have had online banking since 1995 admittedly, prior to that I used the method outlined by LizzieSI use monthly statements and always have done. I add what goes in and take away what will come out in the form of DDs before the next payment in - result I know what I have available to spend and spend no more than that.
Whatever method you use, it isn't difficult to work out what you have already committed yourself to pay0 -
As you obviosly have a pc , if you run your account so close to the wire , why don'y you check it every day online then the sort of thing you say won't happenWhat an intriguing world you live in.....talk about stating the obvious. The point is that by the time you find out about the problems, the charges have been applied, charges have been applied to charges and an authorised overdraft is neither here nor there to the bank, nor is the fact that the direct debit has been taken mistakenly. They don't want to know. Then before you know it your credit rating has taken a hit and these days nothing but stainless will do if you want to switch banks......unless you have any other bright ideas...I can't help but feel you do so please, do share.
Just a thought.0 -
Before internet banking I looked at my statement every month , and had a sheet of paper listing what I'd paid in and what I spent so every day I would know exactly how much was in my account , not difficult . you can get a calculator for a pound these days if you can't add up or subtract manually.You're assuming that everyone has Internet access or is able to use telebanking. Perhaps it's a minority, but there are some people that still rely on monthly statements.0
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