How will reclaiming bank charges impact banking discussion

Mark7799

Smasher wrote: »

Actually, if we're splitting hairs. Here is the actual wording from the homepage.. "Bank Charges: Reclaim them, they’re unlawful, includes free template letters"

Although I do agree that they are believed to be unlawful because as yet, there has been no legal examination of their costs Vs charges, and there is not likely to be since they have given up on trying to argue that charges are to cover costs.

Sorry - I took it from the link you provided in your previous post:p

Nathan_Spleen

IvanOpinion wrote: »

You are missing my point ... However if they lose free banking (which is a possibility) then they can no longer balance the books taking them over drawn and into the clutches of new 'legal' and 'fair' charging. if they lose access to credit (which is another possibility) then were will that leave them? Ivan

I don't know why I bother. I really don't. You talk about these people that may 'lose free banking' but these people don't have free banking. They're paying through the nose for it for themselves and everyone else. It's a fact.


Get a grip!

IvanOpinion

Nathan_Spleen wrote: »

I don't know why I bother. I really don't. You talk about these people that may 'lose free banking' but these people don't have free banking. They're paying through the nose for it for themselves and everyone else. It's a fact.

I would like to retract my previous point when it comes to you and smasher ... I thought people only acted thick-as-two-short-planks ... I am beginning to wonder if it is an act at all.

try rereading the post to understand even the basics of what I typed before replying .. try to understand the concept of 'balancing the books'. Also yet again your 'fact' is a myth .. banks make money on accounts whether or not they are in credit (just not as much).

ivan

Smasher

IvanOpinion wrote: »

when it comes to you and smasher ... I thought people only acted thick-as-two-short-planks ... I am beginning to wonder if it is an act at all.

And finally he resorts to the traditional first refuge of someone who has difficulty sustaining his argument in a civil debate.
I will confess, I left school at 15 (go on, take your best cheap shot) & have no formal education or qualifications to speak of. I don't mind a bit of sarcasm, I can hold my own, but I draw a line at insults & you are now over it mate..
Well done for publicly posting your true colours. :T

IvanOpinion

Dry your eyes you big baby ... you are obviously one of those that likes dishing out the sarcasm and comments but can not take it. Thought you weren't going to waste any more time on me (or was that yet another of your myths). ... note, for those with no sense of humour like the original comment this is meant in humour.

Why would I have a shot at somebody who left school at 15? Do you think you are not capable of contributing to society just as much as somebody who goes onto higher education? You will find that I have always argued that raw experience in any role is worth much more than a degree.

ivan

nickmack

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BG NOTE:

I know the arguments can get a little heated with reference to Bank Charges. Please try and keep to the debate and don't let it get personal. This is a gentle reminder directed at the whole thread and no poster in particular.

Nathan_Spleen

IvanOpinion wrote: »

I have made no secret of the fact that I am an IT worker that has in the past worked for several banks. I have read the feasibility studies, business justifications and done quite a bit of analysis work on various products. While much of what is happening is simply 'new products', 'business-as-usual' when you do such work you find out the real reasons as to why certain decisions are being taken (not the fluff fed to the media)
ivan

So let me get right: Becuase you've done a bit of IT work for a few banks and read some unattributed stuff, you think you know the ''real reasons'' why banks make ''certain decisions''?

You are naivety unplugged.

IvanOpinion

Nathan_Spleen wrote: »

So let me get right: Becuase you've done a bit of IT work for a few banks and read some unattributed stuff, you think you know the ''real reasons'' why banks make ''certain decisions''?

sorry nathan you just don't understand ... the 'unattributed' stuff came down from the Board and the Policy committee where us mere mortals had to satisfy their every whim. These are the people that basically say they want xyz and we are expected to produce the feasibility study, the cost analysis and basically make it happen. I don't know how much more attributed you can get ... I am not going to pretend I know all the reasons of all decisions (particulalry since i am not working for a bank at the minute), but I do know some of the reasons behind some of the decisions .. often reasons we are not allowed to quote that get buried in marketing speak.

answer me honestly, do you think the banks are going to lose a single penny out of people reclaming charges? if the answer is 'no' then where do you think it is going to come from? It will come from our pensions, our mortgages, our savings and our loans.

I believe that those creditting a minimum of (e.g.) £1500 per month will probably retain free banking, those that can not afford to deposit that sort of money each month will probably fall into the clutches of having to pay for credit or having to do without .. the sad reality is that they are the very ones who probably need access to credit most. I have always fought against elitist products but I believe more-and-more that is where the market will go and will therefore ensure many more campaigns.

Ivan

Nathan_Spleen

IvanOpinion wrote: »

answer me honestly, do you think the banks are going to lose a single penny out of people reclaming charges? if the answer is 'no' then where do you think it is going to come from? It will come from our pensions, our mortgages, our savings and our loans.
Ivan

Ivan. PLEASE READ MY POSTS. I AGREED they would seek alternative income. I was disputing your view that it would come from that section of society who currently incur the charges. And again, you have invalidated your argument by saying that new income will come from pensions, mortgages and savings.

But I have to say that your equation fails to take into account the backlash that will ocurr when Banks are found guilty of fleecing their customers on a mass scale. The calls for banks to be regulated as a utility, a la Crukshank, will be irresistable. It might not happen any time soon but it will happen.

And I seriously doubt you've had access to documents on the subject of penalty charges.

BigBudgie

My compliments to Smasher and Nathan et al for the manner in which they have responded to the rantings of IvanOpinion.

I do hope that the personal insults can be set aside and the interesting debate continued.

Sadly, there are far too many people in the UK who have similar opinions to "IvanOpinion" it's the "I'm alright sod everyone else philosophy". However, there are actually some arguments and points being made in this thread which will prove very educational for those new to the reclaiming process. So IvanOpinion, please keep putting up the skittles for Smasher, Nathan etc to bowl over.

Regards BUDGIE