MSE News: Guest Comment - Bank charges fight still alive

This is the discussion thread for the following MSE News Story:

"Bank charges reclaiming has largely fallen off the radar but Mike Dailly, from the Govan Law Centre, says it's not over ..."
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Comments

  • Milarky
    Milarky Posts: 6,355 Forumite
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    A clear and informed comment piece. Well done MSE. But it suggests, surely, that banks will remain dilatory in their approach to the application of the concept of 'fairness' - only moved to change or scrap current practices at the last minute - when they can hear the crowd at the door. Banks don't do 'proactive' it seems.
    .....under construction.... COVID is a [discontinued] scam
  • Consumerist
    Consumerist Posts: 6,310 Forumite
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    Is the writing on the wall for an end to the "free banking" lie?
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • Hanky_Panky
    Hanky_Panky Posts: 767 Forumite
    What a crock !!

    Very little in the way of substantiated content, largely heresay, guesswork and plain old mis-information.
  • Consumerist
    Consumerist Posts: 6,310 Forumite
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    Very little in the way of substantiated content, largely heresay, guesswork and plain old mis-information.

    What in the article was misinformed?
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • vikingaero
    vikingaero Posts: 10,920 Forumite
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    As someone who works for a European bank, I find the UK concept of free banking to be wrong, especially if it's subsidised by the often poorer sectors of society. All customers should pay a monthly fee for use of a banks services. Customers often bleat that the money held by a bank is THEIR money and don't want costs to withdraw it - yet the costs of this provision are huge.
    The man without a signature.
  • Consumerist
    Consumerist Posts: 6,310 Forumite
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    vikingaero wrote: »
    . . . I find the UK concept of free banking to be wrong, especially if it's subsidised by the often poorer sectors of society.

    Couldn't agree more.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • Consumerist
    Consumerist Posts: 6,310 Forumite
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    edited 20 May 2011 at 3:00PM
    vikingaero wrote: »
    Customers often bleat that the money held by a bank is THEIR money and don't want costs to withdraw it - yet the costs of this provision are huge.

    Well, it is THEIR money.

    We, the public, have been forced into using the banking system, whether we like it or not, by government (e.g. benefit payments) and employers (e.g. salaries) alike. This has been to save them money, not us; why should we pay to have access to our incomes. Other services, I accept, we should pay for on a fair and equitable basis rather than the brunt being borne by the less affluent in society.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • taxsaver
    taxsaver Posts: 620 Forumite
    Is it just me or does the guy in the picture look more like a scruffy, dodgy wide-boy than a solicitor? :D
    If you feel my comments are helpful then I'd love it if you 'Thanked' me! :)
  • Consumerist
    Consumerist Posts: 6,310 Forumite
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    taxsaver wrote: »
    Is it just me or does the guy in the picture look more like a scruffy, dodgy wide-boy than a solicitor? :D

    What does a solicitor look like?
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • *MF*
    *MF* Posts: 3,113 Forumite
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    Lord Turner and Hector Sants of the FSA, and members of the Treasury Select Committee have been, and are being given, factual evidence that supports the arguments given by Mike Dailly.

    The future of banking, not just this question of charges, may depend on how the recent report by the Independent Commission on Banking is taken forward.

    The ICB in fact mention the Supreme Court decision over charges, and they too are now being presented with the necessary evidence - indeed via the evidence being presented the arguments are being developed further, into the areas of free if in credit banking etc.

    The evidence is in part being drawn from a blog on this whole subject - for more details see this earlier MSE post:

    http://forums.moneysavingexpert.com/showpost.php?p=37346388&postcount=2
    If many little people, in many little places, do many little things,
    they can change the face of the world.

    - African proverb -
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