MSE News: CONFIRMED - OFT gives up bank charges battle

dunstonh

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.

You dont need the internet or phone banking to control your finances. You know what cheques are issued, what direct debits/standing orders are going out. You dont even need a computer as there is such a thing as pen and paper. What do you think people did before computers and mini statements?

Whilst some people are in an unfortunate position with charges, others are just plain lazy and incompetent at running their own finances. You can feel sorry for the unfortunate but you cant feel sorry for the lazy.,

If you have had a number charges because you went over your limit then you would think that would drive you into running your bank account better and keeping track of it.

gobbo

Ye you are of course absolutely correct

noh wrote: »

You and I agree in that it is vital to keep a close watch on your own bank accounts.
Mistakes do happen but if you keep a close watch they will be noticed quickly and action taken to minimise the effects.

My main issue is with those who put forward the excuse that they do not have the means to monitor their accounts when they plainly do.
At the most basic level they could write down their income and expenditure on paper and check thier actual balance by phone or at an ATM or by enquiring in branch.
All those on here have internet access but some claim that they didn't find out about charges until they had reached astronomical levels.

It's not the case that the means to monitor the accounts aren't available.
It's the will to do it thats missing in may cases.

gobbo

dunstonh wrote: »

You dont need the internet or phone banking to control your finances. You know what cheques are issued, what direct debits/standing orders are going out. You dont even need a computer as there is such a thing as pen and paper. What do you think people did before computers and mini statements?

Whilst some people are in an unfortunate position with charges, others are just plain lazy and incompetent at running their own finances. You can feel sorry for the unfortunate but you cant feel sorry for the lazy.,

If you have had a number charges because you went over your limit then you would think that would drive you into running your bank account better and keeping track of it.

I'm glad some of the sensible people have reappeared , I thought you's all given up under the barrage of insults

natweststaffmember

This is the difficulty I have posting on here because there is the financially astute posting up here about the morality of the charges rather than the lawfulness of the charges. Maybe morality is not the right word but about how easy it is to be able to control your finances. To a point, I can see your point of view but without seeing someone's financial statement at the time that they specifically was charged or the circumstances of their life, for example, birth of a child, loss of a partner, separation from a partner etc,etc then it is difficult to necessarily agree on how easy it is given all the circumstances since each person reacts to life's stresses and strains in different ways. One person will get on track in an orderly way and others will kill themselves over it.
In theory, I totally agree that it is straight forward to run a bank account. In practice, each individuals circumstances may not be the same. There have been people on the boards who had thousands of pounds worth of charges over the last 8 years. Internet access was not always widespread as it is today, people are still wary of it due to internet security and phishing(yes I know you should delete those emails ).

Having re read the announcement from the OFT I can see why they abandoned their case....because they may have had to concede some things that would not benefit the majority of current account holders today. I believe individuals DO have a case under UTCCR 1999 and under certain circumstances. However, I do not think that continued litigation will help consumers in their entirety since the OFT do represent those who incur charges and those that do not. Historic charges would not do this for the OFT since their interest is in the current present day scenario.
Another word of warning for those who may say it is all over for the OFT.....I concede that point in its entirety because I think individual claimants are the ones who will have success in the same way credit card customers have success in their claims through the county court.
For those who think charges will substantially increase because of the decision, the OFT would take regulatory action if this happened so it is not a carte blanche for the banks either.

BOB_A_H

noh wrote: »

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

What a sad sad life you must lead. "Do you fancy going for a pint? No I think i will check my bank account for the 47th time today"
"Do you want a bit of fun in the bedroom? No thanks, busy checking my bank account"

Etc etc. Sad fu###r you are!

BOB_A_H

gobbo wrote: »

well said that man

Another sad ba####d!

kittiej

My OH received a letter from Barclays bank re his bank charges.

It says and I quote

"Following the Supreme Court decision on 25 November 2009, there is now a final outcome for these legal proceedings which means that the bank charges you have complained about do not amount to penalties at common law and that their level cannot be assessed for fairness under the Unfair Terms Consumer Contract Regulations (UTCCRs). WE do not believe that there is any legal basis on which the amount of charges can be challenged and we are satisfied that the bank charges you seek to reclaim were properly charged. The final outcome of the legal proceedings confirms our position".

Is it me or are they trying to dish out legal advice as well now?

Needless to say I shall be writing back to Barclays within the 8 week time period to let them know that I don't believe this complaint has been resolved and I intend to carry on for OH.

I know that will stick in the gullets of a certain quarter but one lost battle doesn't mean the war is lost, well not to me any way.

I've just noticed there are quite a few posts re checking bank accounts on a daily basis.

That's fine but if you haven't got any more money to cover these charges then it's pointless.

Oh I wish I had one of those magic money trees then my life would be perfect.

noh

BOB_A_H wrote: »

noh wrote: »

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

What a sad sad life you must lead. "Do you fancy going for a pint? No I think i will check my bank account for the 47th time today"
"Do you want a bit of fun in the bedroom? No thanks, busy checking my bank account"

Etc etc. Sad fu###r you are!

One check a day is sufficient.
Easily done in 5 minutes.

Are you saying that people who keep control of their finances are "sad"
And people who are unwilling to take control of their own finances are somehow more exciting?

gobbo

Amazing that some people have to resort to swearing to try and make their point , I was always taught that this is a sign of low intellect.

How long does it take me to keep track of finances - 3 minutes a day as a guess , leaves me plenty of tome for real ale and other more exciting persuits

BOB_A_H wrote: »

gobbo wrote: »

well said that man

Another sad ba####d!

moo_cow

natweststaffmember wrote: »

This is the difficulty I have posting on here because there is the financially astute posting up here about the morality of the charges rather than the lawfulness of the charges. Maybe morality is not the right word but about how easy it is to be able to control your finances. To a point, I can see your point of view but without seeing someone's financial statement at the time that they specifically was charged or the circumstances of their life, for example, birth of a child, loss of a partner, separation from a partner etc,etc then it is difficult to necessarily agree on how easy it is given all the circumstances since each person reacts to life's stresses and strains in different ways. One person will get on track in an orderly way and others will kill themselves over it.
In theory, I totally agree that it is straight forward to run a bank account. In practice, each individuals circumstances may not be the same. There have been people on the boards who had thousands of pounds worth of charges over the last 8 years. Internet access was not always widespread as it is today, people are still wary of it due to internet security and phishing(yes I know you should delete those emails ).





Agree wholeheartedly. And for the few that go on and on about people keeping on top of things, it's just not that simple. Everyone has a different set of circumstances. Up until a couple of years ago I didn't have access to internet banking as most people didn't. Yes, these charges for a lot of people are spread over X amount of years. Whilst there are people that have been sloppy with their finances ( he who is without sin and all that) there are thousands and thousands of people who have been cruelly and unfairly hit. People who have begged for a chance not to be hit with any more so as they can find a way out. Why is it these banks claim to listen, phone them up so as they can help. They rarely do. And yes, there are people who have been suicidal over charges. As I have said in one of my earlier posts, I personally am looking for a way forward for ALL customers because boy oh boy, when you get the rug pulled out from under you it's shocking and can lead to financial destruction. As we live in a day and age now where everything is paid into an account it's an absolute MUST that customers are treated fairly and not exploited.