How will reclaiming bank charges impact banking discussion

debtfree27thmay

whether we have a right or not is not the point I am trying to make. This thread is set up so people can gain support and information from other in a similar situation. If you don't agree with this then please don' t post comments which are not going to help people. I will not get drawn into an argument with you if you don't agree then fair enough everyone has the right to their own opinion.

scottishtaffy

how can you say irresponsible with money unless you are from down the south and have the so called "average wage of £24000 p/a" where as up here in north east scotland the average is about half that. we live each week as it comes and are lucky to have £20 left at the end of each week! we pay our way and normally get by but it only takes one unforseen car break down or un expected bill and bang there is our charge! now we went down to the bank (loyds tsb) and asked for a overdraft but they said no, but when they took there charges off they offered us a overdraft to cover there charges!!! why not give us the overdraft in the first place?....... because thats where they make there money !!!! i dont disagree with the charge but the amount. i mean how do they justify £30-50 for a computer generated letter or the transaction of taking the money out then returning it that would take about 2 seconds when its done by computer.

Phaelok

I appreciate that there are 'unique circumstances' which mean that money that would have been used to pay for a d/d has to cover car repairs for example. But in the example you have given, why not temporaily cancel the d/d etc in order to avoid being charged by the bank? You can call on the same day and ask that the d/d etc be recalled and cancelled without charge. Its all very well blaming the bank for these charges, but unless the customer does something to stop these transactions going through their a/c, they are the only ones to blame.

astraman

Surely the point of all the fuss about bank charges is that they are illegal. Yes we were all aware of the charges set by banks for bounced cheques, direct debits etc, when we opened our accounts BUT, how many of us were aware that the level of these charges is illegal?? Most of us, I'd say, welcome Martins bringing this to national attention. The banks who have paid out so far would not have done so had their position been defensible.....

Phaelok

The bank clearly publicise their charges when you agreed to the terms and conditions of the way your account should be run when you signed along the dotted line. In that respect how can they be illegal? Its illegal if the bank do not state its tariff etc

Newstart_4

Phaelok wrote: »

Hopefully the court will realise that your at fault and throw out the case. Why should they refund charges for people that have been irresponsible with their money?

the point is that we all accept banks will charge us for bouncing payments going overdrawn etc, we dont expect them to work for nothing.

But the LAW say there not allowed to charge us more than it cost them, it would seem that the 38 quid charge is in no way a reflection of the true cost wich is estimated to be less then 5 quid.

as such we dont accept the banks taking 38 quid a pop, and want our money back.

i realy dont understand why anyone has a problem with this concept, its prety simple.

i have no problem with banks making profit or how they make it, but they should atleast be doing it legaly and fairly.

Phaelok

But the fact is that people put themselves in this position. If you dont have enough money to pay for a d/d, cancel it, its quite a simple concept to understand which results in the customer not being charged and the bank not charging. Everyone wins that way - simple eh>?

Newstart_4

Phaelok wrote: »

But the fact is that people put themselves in this position. If you dont have enough money to pay for a d/d, cancel it, its quite a simple concept to understand which results in the customer not being charged and the bank not charging. Everyone wins that way - simple eh>?

like i said most people dont have a problem with being charged, they have a problem with being charged an unlawfull amount (if that is proven to be the case)

Phaelok

So if i know i dont have enough funds to pay for a direct debit, providing the cost is low to return the item, most people dont have a problem being charged? This is the most ludicrous statement ive seen to date. Irrespective of what the bank charge people will always complain, rather than questioning the amount charged by the bank, people should look closer to home with a view NOT to be charged in the first place. Do you not agree if that if things were paid on time by the customer, the customer called the bank to cancel d/d's if there was not enough money in the a/c etc that there would be no reason to be charged in the first place? Whether you agree or not, in my opinion, the blame is on us, the customer.

Newstart_4

Phaelok wrote: »

The bank clearly publicise their charges when you agreed to the terms and conditions of the way your account should be run when you signed along the dotted line. In that respect how can they be illegal? Its illegal if the bank do not state its tariff etc

its all about consumer contract law and them not being allowed to penalise us for breach of contract (going overdrawn) in a way that exceedes the true cost to them for the breach,

thats the law, so the fact they publish a tarrif stating they will charge me 38 quid for each breach of contract doesnt make it anymore legal.

as such they are relying on me to be ignorant of the consumer contract regulations, and taking on the chin,

unfortunalty (for the banks) Martin and others have brought this issue to our attention and we are now aware of the law and as such would like our charges back, as we are led to believe they are unlawfull penalties that in no way reflect the true cost of us "breaching our contracts" with the banks.