How will reclaiming bank charges impact banking discussion

LozBingley

Mr._Midnight wrote: »

Hi,

Hope some of you lot out there can read this!!!! I'm trying to claim back bank charges and my claim has gone to Small Claims court but been postponed for over 3 months. Is this normal practise???

But you can still write to the bank and tell them it will cost them more if it gets to court The ball is in your court (no pun intended) so don't accept less than 100% of your charges + interest + court fees back now

oldwiring

TBH no one knows and crystal balls are not reliable. Confucius he say,"man who has crystal balls need be careful how he sit". However I would not be surprised, if, once a binding decision has been made of an appropriate level of charges, has been made, the banks and card issuers, review their customer lists and criteria for conducting business with them more severely than now.

Should be interesting times for some.

mum2one

Mr._Midnight wrote: »

Hi,

Hope some of you lot out there can read this!!!! I'm trying to claim back bank charges and my claim has gone to Small Claims court but been postponed for over 3 months. Is this normal practise???

Hi.

The delay will be due to the amount of bank refunds that are going through, the courts also have there normal work, there not more judges on the circuit, so if your court has a large catchment area, then the next free slot may be in the future.

It might be worth contacting the company and point out that you hace a court date, and that you are prepared to settle out of court, but you want 100% charges, the interest at 8% plus court charges.

It worked for me againsdt Barclays got the full lot back b4 court.

Cheers

Cheryl

Angry_Student

I am a student and have myself been subject to unfair penalty fees for going over my agreed overdraft limit, to the tune of £90 a month. My personal standpoint is that where I have gone over my overdraft and have not agreed this with the bank, they do have a RIGHT to charge me for this. That point I am not disputing. However, as the law states this should be in line with the amount it actually costs the bank to process the money that has come out of the account, which is certainly not £30- £35 a pop, which is what I have been charged.

OK so we have established that bank charges are unfair but what about the banks' defence and at the same time their threat to all banking customers which is this: we provide free banking in the UK which is a unique situation. What they are basically saying is if we do not charge disgustingly high bank charges to make our money we will have to find another way i.e. charging for banking for all. Now not everybody is likely to be overdrawn, of course those who are more well off are very unlikely to require an overdraft facility at all. This effectively says to me that the most disadvantaged in society are paying for free banking for the richest in society. This does not make sense and just seems so unfair to me.

The fact of the matter is if people are having unauthorised overdrafts they are not in the best financial situation and then for them to be expected to pay hundreds of pounds on top of this is just crazy. I feel upset every time I think about it.

Does anybody else see the situation in the same light?

Susy- an angry student

3princes

Well said Susy,all completely true! Bev

ellieoo

An analogy that I would like to add is that years ago the new car tax was scrapped, this was approx £400 on a brand new car of about £10k. Now I have never been able to afford a brand new car. The people who can - can afford the £400. Same with banks. My husband and I are self employed, we live in a 3 bed semi, S reg car, do not drink or smoke, family holiday - camping in Devon, shopping at Lidl at present - money is tight. If a customer is late paying - which they are often, then money does not get to the bank. The bank is completely unsympathetic. I have NEVER gone over my overdraft limit except when payments are uncleared. I pay a cheque into my account it takes 3 working days to clear. I made a cheque to my daughter who paid it into a different bank late on a Saturday morning, it cleared out of my account on Tuesday morning, less than 1 working day from being presented to my bank. Because the cheque I paid in on the Saturday morning had not cleared, they then returned two cheques for £15 and £8 and charged me £60 to do so. To be accused of not managing my money well by pompous individuals who do not have the intellect to put themselves in others shoes makes my blood boil - they know who they are. I have no choice but to have a bank account, I took mine out when I was 17, I did not read the small print, so the banks can now penalise and cause hardship because of this. I have no objection to paying charges, but to return cheques totalling £23 but make me £60 worse off is disgusting. Don't forget the banks will happily take their charges even if it exceeds your overdraft limit but they won't make a direct debit payment if it does the same. I believe that these charges are unlawful because the banks have it all ways. If they clear payments into accounts in the same timescale that they clear transactions out then most charges would not occur. This stinks of unfair trading.

Phaelok

Hey all,
With recent publicity being given to bank charges and what it costs to the bank to return items unpaid etc, I just wanted to give my opinion on this matter.

Firstly the bank charges are NOT illegal as so many people often state when I talk to them. The banks clearly publicise what it charges a customer for, when, and the cost of not being able to pay a transaction etc. The simple fact is if you disagree with that then dont sign up for an account. By signing up for an account you agree to run it in accordance with the terms and conditions the bank expects.

Secondly whilst it all happens to us now and again to have the odd charge, those who have more than the one, are, in my opinion, those who cannot manage their money effectively. Please dont tell me its the bank 'not helping its customers' as the onus is on the customer to inform the bank to stop any transactions being posted to the account in order to stop them being charged. The responsbility is down to us, the customer, to ensure we have adequate funds to cover direct debits, standing orders and so forth. If the bank give us the freedom to set up such transactions, we must accept the responsibility that goes with it, whether you question the legality of charges or not.

ripoffbritain_4

Its about time all us unsatisfied bank customers demand that we are paid cash again and bypass the banks, after all without us they have no business.
This stops all the bank charges and gives you better control over your money and teach people how to budget there money, which is so easily overlooked when it is easy to write a cheque to cover shortfalls etc.

So come on people lets all pull together and give the banks a thing to worry about.

Newstart_4

a couple of days ago i would have been saying Right on Brother!!

as it is the bank have finaly given me an overdraft and it looks like im a lot more easily bought than i thought:rotfl:

till then i was happy paying the 5 quid admin charges every month and having crap deals on energy prices rather than ending up with penalty charges for bounced DD's

Ill be looking around for deals and calculating savings today, and i wouldnt be supprised if can save 300 quid a year just for playing the banks game the way they want it played and setting up a few DD's

Mark7799

ripoffbritain wrote: »

Its about time all us unsatisfied bank customers demand that we are paid cash again and bypass the banks, after all without us they have no business.
This stops all the bank charges and gives you better control over your money and teach people how to budget there money, which is so easily overlooked when it is easy to write a cheque to cover shortfalls etc.

So come on people lets all pull together and give the banks a thing to worry about.

Or alternatively you could learn to NOT write cheques to cover shortfalls and teach yourself budgeting?:rolleyes: