notice of bank charges

welchs2006

hello
can anyone tell me if banks can just take a charge for return of dd on the day the dd failed
or do they have to give 14 days notice of these charges

thanks in advance
chris

jonesMUFCforever

It depends.
Some business acounts are charged there and then but personal accounts are pre advised of the charges.

welchs2006

with rbs and it personal account
they say they dont have to give any notice of any charges they can just take them when they like.
also they say they can transfer any money between any accounts we have with them if they want to.
time to leave this bank me thinks

chris:mad:

dchurch24

Some banks do take them on the same day - a breach of the banking code, but hey, what do they care? The code was set up by bankers for bankers.

Paul_Herring

dchurch24 wrote:

Some banks do take them on the same day - a breach of the banking code

Banking_Code wrote:

5.5 Before we take interest or charges for standard account services from your current or savings account, we will give you at least 14 days’ notice of how much we will take.

I'm sure the bank's take on this is that they gave you well over 14 days notice for the charges. It's in the T&C's which were presumably signed more than the aforementioned 2 weeks ago.


Disclaimer: This comment has nothing to do with the alleged legality or otherwise of the (level of the) charges.

mroller

Paul_Herring wrote:

I'm sure the bank's take on this is that they gave you well over 14 days notice for the charges. It's in the T&C's which were presumably signed more than the aforementioned 2 weeks ago.

one of my dd has bounced a week ago, my account is a nationwide flexaccount and they still haven't charged me for it. have I got away with it or are they still going to charge me? is there anything I can do before they do it?

Thanks.

Paul_Herring

mroller wrote:

one of my dd has bounced a week ago, my account is a nationwide flexaccount and they still haven't charged me for it. have I got away with it or are they still going to charge me?

Unknown without actually asking them. Nationwide may have a 'one strike' policy where they don't charge for the first infraction in the year.

is there anything I can do before they do it?

Unlikely if they're going to charge you anyway. See threads passim about reclaiming them back after the fact.

dchurch24

Paul_Herring wrote:

I'm sure the bank's take on this is that they gave you well over 14 days notice for the charges. It's in the T&C's which were presumably signed more than the aforementioned 2 weeks ago.


Disclaimer: This comment has nothing to do with the alleged legality or otherwise of the (level of the) charges.

Yes, I imagine that they will see it like that. There must be someone who has had charges within 2 weeks of opening their account though.

It's all down to interpretation.

However, have a read of this:

http://www.bankingcode.org.uk/bulletins/Bulletin%2021%2027%20Jul%2006%20PDF%20FINAL.pdf

Section 2 is relevent to notice of charges.

It appears that the notice of charges does not apply to unauthorised borrowing or over limit fees. Only standard account fees.

lisachester

Hi,

I know that at least one bank takes the money for a returned DD on the day it is due, presumably to recover the immediate costs of that return, e.g. man power on that day etc., as this is not always computer automated. The same bank does, however, notify of charges incurred for exceeding limits and provides at least 21 days notice. This is probably because the costs are not directly from man power but overheads etc.

I am beginning to sound like the bank!! :rolleyes: