Someone advise me on my new claim idea please?

edited 30 November -1 at 1:00AM in Reclaim Bank & Credit Card Charges
17 replies 1.9K views
WidelatsWidelats Forumite
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edited 30 November -1 at 1:00AM in Reclaim Bank & Credit Card Charges
Correct me if i am wrong, i suggest we claim that the banks have not been great in their complaints department, i understand that 2 of these big banks are to have hefty fines slapped on them by the FSA, it is my opinion that if the FSA can fine them then so should we and we should start a campaign up for compensation -

What does people think??

Also, does someone know which of these banks will be fined? And how to get the ball rolling on this thing? :cool:
Owed out = lots. :cool:
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Replies

  • magpiecottagemagpiecottage
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    You're wrong - only the FSA or courts can fine banks.

    The FOS, or courts can award redress for specific instances of loss by consumers that result (on the balance of probabilities) from a failure on the part of a bank (or other financial institution) to properly discharge its regulatory obligations.

    But neither FOS nor the courts can fine in respect of a claim for redress from a consumer.

    Consider yourself corrected!
  • ILWILW
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    Widelats wrote: »
    Correct me if i am wrong, i suggest we claim that the banks have not been great in their complaints department, i understand that 2 of these big banks are to have hefty fines slapped on them by the FSA, it is my opinion that if the FSA can fine them then so should we and we should start a campaign up for compensation -

    What does people think??

    Also, does someone know which of these banks will be fined? And how to get the ball rolling on this thing? :cool:

    I think your time may be better spent looking for a job rather than dreaming up daft schemes like this.
  • WidelatsWidelats Forumite
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    You're wrong - only the FSA or courts can fine banks.

    The FOS, or courts can award redress for specific instances of loss by consumers that result (on the balance of probabilities) from a failure on the part of a bank (or other financial institution) to properly discharge its regulatory obligations.

    But neither FOS nor the courts can fine in respect of a claim for redress from a consumer.

    Consider yourself corrected!

    Thanks for the advice, will end the plan then.
    Owed out = lots. :cool:
  • sussexg_2sussexg_2 Forumite
    3 Posts
    agree with ILW, you are just displaying the same greed that some, not all, bankers display. the world would be a better place if people just got on with their lives, vote with your feet and change banks (or any supplier you're not happy with). that's not to say if you buy something faulty you should not expect to get your money back, i will always do that, just get on with your life on this one though, bank money, like government money, is just what everybody else puts in, so it would be other people paying for your greed
  • WidelatsWidelats Forumite
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    sussexg wrote: »
    agree with ILW, you are just displaying the same greed that some, not all, bankers display. the world would be a better place if people just got on with their lives, vote with your feet and change banks (or any supplier you're not happy with). that's not to say if you buy something faulty you should not expect to get your money back, i will always do that, just get on with your life on this one though, bank money, like government money, is just what everybody else puts in, so it would be other people paying for your greed

    Its not greedy to want your money back, if you think this why are you on a charges reclaiming forum on a money saving website?

    You don't know my circumstances and you probably believe i would try claim thousands of pounds, probably believe i was treated fairly too but thats your opinion...
    Owed out = lots. :cool:
  • bengal-stripebengal-stripe Forumite
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    Widelats wrote: »
    .......it is my opinion that if the FSA can fine them then so should we and we should start a campaign up for compensation -
    Widelats wrote: »
    Its not greedy to want your money back,.....

    But you want more than your money back. - You want the right to "fine" the bank and get compensation!
  • dunstonhdunstonh Forumite
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    Its not greedy to want your money back, if you think this why are you on a charges reclaiming forum on a money saving website?

    It may not be in your case and we dont know anything about you so cant say. However, its clear from the number of claims companies that have cropped up and the lies they tell and the number of people that agree to use them that consumer greed is a driver for many people.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • natweststaffmembernatweststaffmember Forumite
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    dunstonh wrote: »
    It may not be in your case and we dont know anything about you so cant say. However, its clear from the number of claims companies that have cropped up and the lies they tell and the number of people that agree to use them that consumer greed is a driver for many people.
    On the latter point, I would say its not necessarily greed but laziness, a good sales patter from the CMC, speed they allege is involved, desperation, the fact they are up against a multi billion pound organisation, the fact they do not believe that they can do it themselves. Greed maybe there but it is not the main issue since if they didn't have bank charges then they would not agree to allow the CMC to take their money.
    I have not worked for NatWest Bank since February 2009

    This username is no longer active.
  • WidelatsWidelats Forumite
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    But you want more than your money back. - You want the right to "fine" the bank and get compensation!

    Not true, the fines will go on the banks in our name, the people who have had the crap from the banks, so who gets the fine money? Wherever this money goes, that we, the public have been fobbed off from the bank about for years, it is not going to us. So where will it go? Who will get paid in my name?

    If they are being fined it should go to us, the "victims", not the FSA fund pot.
    Owed out = lots. :cool:
  • natweststaffmembernatweststaffmember Forumite
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    Widelats wrote: »
    Not true, the fines will go on the banks in our name, the people who have had the crap from the banks, so who gets the fine money? Wherever this money goes, that we, the public have been fobbed off from the bank about for years, it is not going to us. So where will it go? Who will get paid in my name?

    If they are being fined it should go to us, the "victims", not the FSA fund pot.

    Just so we are clear, I don't agree with you with regards to fines. It is about improvement and if the FSA ask for certain cases to be reviewed based on redress ie compensation then they have the right to award individual complainants their money. It is not for dispersal amongst people who have complained.
    Furthermore, the fine would be because they did not follow previous warnings made to them with regards to perhaps a single or multiple issues.
    I have not worked for NatWest Bank since February 2009

    This username is no longer active.
This discussion has been closed.
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