'Should big banks have an ENFORCED public service remit?' blog discussion

Alpine_Star

RussellR wrote: »

The problem with set off is that the Bank cannot win

They certainly seem to be winning in this instance:

''Client told us that their bank has stated that they were exercising their right of set off to deduct payments from their bank account to pay towards a credit card. However, the bank would always take just under the minimum payment on the card. In doing so they would receive the majority of their money but would also charge the client for late payments to the credit card as the minimum payment had not been met.''

http://www.moneyadvicetrust.org/images/MAT%20coordinated%20response%20to%20the%20BIS%20consumer%20credit%20and%20insolvency%20call%20for%20evidence.pdf