Free banking 'will be axed'

Tim_L

Join us on the gamblers board, Eagerlearner, and we'll show you how to make a quick £500 to pay for all the sandwiches you want.

Turning_into_scrooge

dchurch24 wrote:

Hmmmm...let me think.

I would imagine about £30 per month - in Holland, it's something in the region of £1.30 per month for up to 15 DD's to be paid.

I can handle that. £30 I can't. To charge a fee for just having an account would be a breach of the ECHR laws. To charge for extra services like DD's SO's etc... would be perfectly legal.

I have no problem with that either. I'll use cash/paying-in books, just as I do now.

then the way round this is to have more than one bank account and split the DD

dchurch24

True, but then it might just be £1.30 for up to 15 dds.

If so, then it may just cost the same.

Of course this assumption is all based un the Dutch system, and not the system that the banks here will probably impose.

I would imagine that they will be far greedier here.

EagerLearner

Tim_L wrote:

Join us on the gamblers board, Eagerlearner, and we'll show you how to make a quick £500 to pay for all the sandwiches you want.

He he - :beer: thanks but you're trying to lead me astray... only gambling I have done lately is the £10 Quidco money on Bingo site - and that was because I had to deposit £10 to get my £30 Quidco Cashback... won £36, spent £10 = maybe I am a good gambler after all :rotfl:

I am already talking to Halifax re their high paying account - anyone care to comment on any sneaky Halifax-oh-no-you-don't-isms I need to be aware of?

EagerLearner

dchurch24 wrote:

True, but then it might just be £1.30 for up to 15 dds.

If so, then it may just cost the same.

Of course this assumption is all based un the Dutch system, and not the system that the banks here will probably impose.

I would imagine that they will be far greedier here.

The Dutch are alot more laissez-faire than we are here on many things so I agree and doubt they will just charge us a modest (read: fair) amount in the UK...

polajoo

Paul_Herring wrote:

polajoo wrote:

Bank charges are unlawful. Fact.

Citation please? I was under the impression that the level of charges were allegedly unlawful, not the charge itself. Where was it decided that the charges themselves were unlawful? Drawing that conclusion because all the banks have folded when brought to court doesn't really count since that doesn't actually create precident.

Ok, ok, ok. The amount they are charging is alledgedly unlawful. I'm sure I said something about not taking life too seriously...

Somebody also said something in one of the threads (the board is slow, and since I'm at work I've got better things to do than to search for citations...) about how it might be better to teach people to manage their money better.

I totally agree. And, more to the point, I'm up for listening and being told what to do. One of the reasons why I'm £30k in debt is because nobody taught me how to manage my money, shouldn't spend what you don't have, credit is bad, etc, etc.

And I'm not blaming anyone for my shortcomings, I've got myself to blame. I know this. However, I'm digressing. Perhaps banks should offer seminars on money management in exchange for the charges? Or something?

It's an idea, not a business proposal. Don't rip me apart! :cool:

Mark7799

Try the DFW board as a starting point

dchurch24

But eveyone assumes that the banks don't like customers who overdraw or bounce cheques.

I think they like them very much indeed. To the tune of nearly 4 billion quid a year.

polajoo

Mark7799 wrote:

Try the DFW board as a starting point

Most people head to the DFW as a corrective measure rather than a preventative measure, I would imagine.

Dead_Eye_Jones

The banks are doing this in response to the issues of 'unfair bank charges' that arose from conusmer groups such as this site. People didnt want to take responsibility for their own poor decisions (getting overdrawn, making late payments etc) and the consequence is that the banks had to make money up elsewhere.

Yep the country is in a bad way, not becuase of the banks, but because of joe consumer who wants to have his cake and eat it. Its a shame that people couldnt face up to the consequences of their actions by paying the penalty fees and now we may all have to pay fees.

Should this happen, I for one will chase down the last free current account, and if they happen to charge massive fees for going over drawn then great, because I take the time and make the sacrifices required not to inccur such charges.