Call to boycott NATWEST

CTT_2

oldwiring wrote:

My daughter works in the scoial services field. The BeeB ( local in that case) was running with a story how this elderly couple had been failed. Daughter told me that the truth was nothing like the BeeB were trying to tell. In short the TV producers are kike journalists; they never let the truth get in the way of a good storylne. Unless one knows the full history of that man's history and behaviour with the bank, one cannot judge why the bank acted as it did, To make a judgement without those facts is blindly prejudiced.

Agree, but it clearly showed his bank statement with the charges added. How on earth did the bank think he could pay them £450 in charges when they didnt trust him to go £20 over his limit.

Tootsie_Roll

[QUOTE=Hereward You even manage to contradict yourself in your post, if most people are not over their overdraft limit how do they incur punitive banks charges?
[/QUOTE]

How is that contradictory - are you suggesting that most people incure bank charges ?

p.s. Emphatic evidence only please.

M_Thomson

Hereward wrote:

Do you have any evidence of this, besides wild assumptions? The size of bank charges being reclaimed does not demonstrate that they are careless with money; they may have been a victim of circumstance (for example, the spiral of charges).

I agree with you that some people who claim back charges are in difficulty because of losing their job etc, and as I have already said the banks should work with them. From what I read on here though most people who claim back charges just cannot be bothered to run their accounts properly. Why should others have to pay for other peoples financial mismanagement.

Why should your banking be subsidised by others, should you not pay a fair price for what you receive and not expect others to contribute to your costs? In theory, if you are a low default risk the rates available for you will not change. If, however, you are a high default risk you can expect the rates offered to be substantial higher.

In theory yes, in practice you can already see credit card rates rising to cover banks losses. And I predict within the next 2 to 3 years we will be charged for current accounts, and services like writing a cheque and direct debits just like they are in America and Europe.

amandathepanda

CTT wrote:

I was watching a problem last night called Spendaholics and this poor guy only went £20 over his agreed overdraft limit and they bounced all his dd's.
The total charges amounted to £450.00. In a situation like that the bank have not used any common sense.

They wouldn't use common sense because it is not like the old days when someone actually looked at the account, everything is done by a computer which just processes these things automatically. I agree that the cost of returning cheques/DD's does not agree with the small amount of work involved. The charges should be a deterent but not a large penalty.

oldwiring

amandathepanda wrote:

They wouldn't use common sense because it is not like the old days when someone actually looked at the account, everything is done by a computer which just processes these things automatically. I agree that the cost of returning cheques/DD's does not agree with the small amount of work involved. The charges should be a deterent but not a large penalty.

I agree about the common sense part of the post. IMO it's aggravated by the immediate impostion. As I recall things, once these charges would have been aggregated for review just before the end of a charging period and felt fit adjustments made and possibly pre-advices sent out. The trouble with modern systems is that the customer is made fro the bank and system not the other way round. As a pre the-computer-is-god man I will say with all honesty that I foresaw the diminution of knowledge and the rise of the inabilty to sort out anything instructedincorrectly to the computer
properly. T hat does not mean I am in complete sympathy will all those that are wanting money back, especially those who have obviously been reckless p**** in the r*****. Those types are welcome to have their accounts closed.

clayts

If it is so wrong for folks to be reclaiming their charges please explain why :

(1) banks are refunding the charges with nary a whimper
(2) not one bank has stood up in court and defended a claim

I suggest to you that in the case of (2) the banks know that in the event of a court scrutinising a bank charge of (eg Halifax) £39 for a failed direct debit would find the figure to be extortionately inflated to the point of sheer greediness.

Until such a time that a bank successfully defends a case in court, and thus sets a precedent, consumers are well within their rights to pursue a course of action against a bank that has not only caused financial distress but, if you take the time to read some of the heart breaking stories over at the CAG, serious mental distress too, purely by constantly overcharging thus resulting in a spiralling debt. A lot of folks over at CAG have had outrageous debts completely removed by the refund of charges.

No-one over at the CAG is saying this campaign is a get rich quick scheme - it isn't : I think a lot of folks (me included) would happily go to court to be the test case - bring it on

funkymonkey

i dont agree with the very rude first post - i when overdrawn by 3 pence because i forgot my phone bill! rang the bank and got it back because i dont ever forget like that lol.

now say i had been to the shops and bought somthing for £2.00 after my DD had taken me over (remembering that i had forgot!)

that would be £60 fine! - as i am online banking - that would be an automated letter delivered to my inbox - so at no or vey little cost to the bank (no stamp)

NOW if i did it every month then fair enough but £60 for forgetting one DD is a bit harsh.

also remember that people with poorer credit subsidise your great accounts!

we have to wait longer for our cheques (halifax)

earn less interest on our accounts

pay higher interest rates on our credit cards and loans

which means they can charge you less! - but dont be fooled by this, forget one phone bill and you are screwed!

Turning_into_scrooge

I ended up with £60 of bank charges on Friday. Is this my fault? INCOME SUPPORT FORGOT TO PAY ME so they sent a giro out which only arrived this morning. Savings, £2.70 and a leaky roof

clayts

Another thing that occurred to me - folks who state that bank charges subsidise their free banking are missing the point.

There are a whole host of other hidden charges which accommodate such a facility, most notably the length of time it takes cheques and bank transfers to clear when in all reality it is an automated system which could be done in one day, not the three to seven days the banks claim. Who stands to gain interest on your money whilst it is in transit ? Certainly not the punter, that's for sure...

Tootsie_Roll

Turning_into_scrooge wrote:

I ended up with £60 of bank charges on Friday. Is this my fault? INCOME SUPPORT FORGOT TO PAY ME so they sent a giro out which only arrived this morning. Savings, £2.70 and a leaky roof

Is it the banks fault ? No.

Your anger should be directed at Income Support, not your bank.