Current Account Charges - Why I have no sympathy

MPH80

Tim_L wrote:

Well that's a sure thing then! Possibly definite, maybe, perhaps?

Given it's apparently such a disasterous PR move - why haven't FD denied these charges if it's not happening? Surely that would be the easiest thing to do. They could even actually come out and say "yes - sure we discussed the idea - but we decided it was impractical and won't be going ahead".

Either way - it would shut up that thread on a site read by thousands each day.

They haven't done that. Now ask yourself why they haven't done such a simple thing.

Tim_L wrote:

All very well if you have been charged and decline to have the charges repaid. But this is your personal decision, and others in actual hardship may take a different line.

And I don't blame them for seeing an opportunity to claim back money and help themselves get out of the place they are in. I personally do not have a problem with people claiming back money that has, apparently, been illegally taken - remember this has still yet to be proved.

I probably fall somewhere in the middle ground of this argument. I don't blame people for claiming back but what I am here to do is to point out that this action has implications - as we have already seen in the increasing of interest rates, increasing of foreign currency transaction charges, lowering of minimum payments, banks applying their new lower charges religiously - and as mentioned - potential monthly charges.

We have gone from a situation where someone, like me, could work their way OUT of being charged and stop them, to a situation where it will be virtually impossible to avoid it. I'll be willing to make a bet that these people who are in 'actual hardship' (as you put it) will be no better off each month - only now they won't have a way out of the charges and payments made to the bank.

We are in the middle of a massive change in the UK banking sector. What it will look like in 12 months time is unlikely to be anything like it is now. Banks are under massive pressure on all sides on their profits (whether legally or illegally gained).

They are under pressure not to close unprofitable branches, or to remove out of the way ATMs. They are under pressure from the OFT on late payments (as seen). They are under pressure from the OFT on mortgage exit fees. They are under pressure from the OFT now on overdraft fees. They are under pressure through the loss of the 3 day BACS transfer system next year.

All of this is going to come out somewhere. It's worth noting that about 6 months ago - HSBC announced their profits - and this along with it:

HSBC, which on Monday announced record UK banking profits of £11.9bn, says that it makes a profit of £1.05 per week from each of its personal customers in this country.

The link for that quote is here: http://news.bbc.co.uk/1/hi/magazine/4781924.stm

£1.05 across all their products from each of their personal customers. That's what ... £54.60 a year? SHOCKING I tell you.

M.

oldwiring

MPH80 wrote:

Given it's apparently such a disasterous PR move - why haven't FD denied these charges if it's not happening? Surely that would be the easiest thing to do. They could even actually come out and say "yes - sure we discussed the idea - but we decided it was impractical and won't be going ahead".

Either way - it would shut up that thread on a site read by thousands each day.

They haven't done that. Now ask yourself why they haven't done such a simple thing.



And I don't blame them for seeing an opportunity to claim back money and help themselves get out of the place they are in. I personally do not have a problem with people claiming back money that has, apparently, been illegally taken - remember this has still yet to be proved.

I probably fall somewhere in the middle ground of this argument. I don't blame people for claiming back but what I am here to do is to point out that this action has implications - as we have already seen in the increasing of interest rates, increasing of foreign currency transaction charges, lowering of minimum payments, banks applying their new lower charges religiously - and as mentioned - potential monthly charges.

We have gone from a situation where someone, like me, could work their way OUT of being charged and stop them, to a situation where it will be virtually impossible to avoid it. I'll be willing to make a bet that these people who are in 'actual hardship' (as you put it) will be no better off each month - only now they won't have a way out of the charges and payments made to the bank.

We are in the middle of a massive change in the UK banking sector. What it will look like in 12 months time is unlikely to be anything like it is now. Banks are under massive pressure on all sides on their profits (whether legally or illegally gained).

They are under pressure not to close unprofitable branches, or to remove out of the way ATMs. They are under pressure from the OFT on late payments (as seen). They are under pressure from the OFT on mortgage exit fees. They are under pressure from the OFT now on overdraft fees. They are under pressure through the loss of the 3 day BACS transfer system next year.

All of this is going to come out somewhere. It's worth noting that about 6 months ago - HSBC announced their profits - and this along with it:



The link for that quote is here: http://news.bbc.co.uk/1/hi/magazine/4781924.stm

£1.05 across all their products from each of their personal customers. That's what ... £54.60 a year? SHOCKING I tell you.

M.

OTOH RBS have announced their willingness to install a number og ATMs I dprived arees where fee-charging ATMs are stuated but no bank owned. However the machines will have to be adminstered locally- kept filled by a shop-keeper or the local credit union or such. Could be that we will aslo see the number of players reducing and eventually arrive back ata sort of "Big Five". Plus ça change, plus c'est la même chose; hisory will repeat itself.

oldwiring

Duplicted post- sorry

Phatmouse

No one is saying don't charge customers who do not conduct their affairs right, we are saying be fair with the charges.

Before everyone relised that you could get your bank charges back did you get more from your current account/investments? NO YOU DID NOT.
Because the bank you spend so long defending and getting het up about could not give a toss about you. They will not pass on to you what they do not have to. As much as you people believe you are gods gift you do not in fact own the bank, you have give them a little bit of money which they are investing in order to keep themselves in Bollinger special and loose women.

If everyone was as perfect as you lot, would most of you not be out of a job, I am guessing a lot of you like tootsie roll are debt collectors sitting infront of your grubby computers all day, squeezing your stress balls and rolling your eyes at the whinny desperate voice coming through your sweaty little head sets, begging for another weeks or two before you roll in your tanks, then unhappily going home to your cat, microwave meal and re-runs of friends.

I wish you the same good grace you show others. You all deserve it.

CopperPlate_2

Phatmouse wrote:

As much as you people believe you are gods gift you do not in fact own the bank, you have give them a little bit of money which they are investing in order to keep themselves in Bollinger special and loose women.

If everyone was as perfect as you lot, would most of you not be out of a job, I am guessing a lot of you like tootsie roll are debt collectors sitting infront of your grubby computers all day, squeezing your stress balls and rolling your eyes at the whinny desperate voice coming through your sweaty little head sets, begging for another weeks or two before you roll in your tanks, then unhappily going home to your cat, microwave meal and re-runs of friends.

I wish you the same good grace you show others. You all deserve it.

So it appears that it gets down to this level does it when the 'scratched record' routine doesn't work in forcing others to accept that 'no-one but the banks are to blame' for personal debt/incurring of charges, etc?

If this is too direct, sorry, but a little bit of directness is what's needed here just now: grow up, get a grip and act your age whatever that might be, because at the moment it appears to be about 13 or less.

Think it's about time the mod's shut this thread down as any respect as just evaporated.

Phatmouse

So it appears that it gets down to this level does it when the 'scratched record' routine doesn't work in forcing others to accept that 'no-one but the banks are to blame' for personal debt/incurring of charges, etc?

I think there is a lot of record scrating from both side of the argument. The account holders are to blame for incurring the charges, but do those charges have to be so high, do others that it has not affected need to be so judgemental about it all. It you are saying that you are affected by the banks loosing out on charges are you saying that you yourself want to profit from other peoples misery. If the bank charges are unlawful, does this not mean that the money you have made from investments is also unlawful, or do you agree that you don't actually see a penny of it and never will.

If this is too direct, sorry, but a little bit of directness is what's needed here just now: grow up, get a grip and act your age whatever that might be, because at the moment it appears to be about 13 or less.

Every time I visit a board on this site I read posts by nasty people spitting venom at others not as fortunate or even organised as themselves for that matter. The anger behind the posts is apparent in the amount of time spent criticising others. They even try to justify it by saying I was in debt once, they are the worst as it gives them a reason to be sanctimonious as well as cruel, I stand by my post, which I am guessing hit a raw nerve, enjoy that lasagne for one won't you.

CopperPlate_2

Phatmouse wrote:

I think there is a lot of record scrating from both side of the argument. The account holders are to blame for incurring the charges, but do those charges have to be so high, do others that it has not affected need to be so judgemental about it all. It you are saying that you are affected by the banks loosing out on charges are you saying that you yourself want to profit from other peoples misery. If the bank charges are unlawful, does this not mean that the money you have made from investments is also unlawful, or do you agree that you don't actually see a penny of it and never will.

Every time I visit a board on this site I read posts by nasty people spitting venom at others not as fortunate or even organised as themselves for that matter. The anger behind the posts is apparent in the amount of time spent criticising others. They even try to justify it by saying I was in debt once, they are the worst as it gives them a reason to be sanctimonious as well as cruel, I stand by my post, which I am guessing hit a raw nerve, enjoy that lasagne for one won't you.

Firstly, the questions you raised in the first part don't warrant an answer. Read my previous posts on this thread to get an idea of where I stand. I don't intend to repeat myself so often...

Secondly, your post didn't hit a nerve. As I said, refer to the previous posts. The ethos of this site is that no post is a stupid post and to treat other MSE'ers with respect, etc, something which you have clearly not done in your post. Your final line just underlines your apparent immaturity and one-sided view of this discussion.

Phatmouse

Yes, I can see that it can! And there is a buzz from knowing that I am legally getting money that it could morally be argued I shouldn't have! However, I'm working on the proviso that the banks would take money from me if they could, so I may as well take my share.

This made me chuckle, on looking at who thanked Copperplate for putting me in my place I found this quote from Wyndham previous posts.

Depend on which way the wind blows does it?

You do relise this lot would hang you as soon as look at you for a quote like that at least be consistent people.

Phatmouse

Fair enough, I have to go now my mams shouting at me to get me dinner, nice talking to you x

CopperPlate_2

Phatmouse wrote:

Fair enough, I have to go now my mams shouting at me to get me dinner, nice talking to you x

and you