Co-Op £162 Bank charges for withdrawing from account abroad

roonaldo

Cephalon wrote: »

Is there any way I could perhaps claim this back seeing as though coop is an ethical bank?

why should they refund it? there's no wrong doing. I really think you should have found a cheaper way round this. its your fault after all isnt it?

bitemebankers

dunstonh wrote: »

Not since they won the court case.

So why did they refund billions before then? Because they're as guilty as sin, that's why. Clever lawyers and a favourable judiciary may have been able to get them off the hook but they know and we know that they're rip-off merchants of the highest order.

PPI is neither a fee or charge.

Yes, because that's exactly what I said, isn't it?

Just shows how little you know.

Devastating come-back, bro. :T

I actually put poor society standards and lack of education as down as some of the problem and you are indicative of that.

What's that got to do with the fact that IFAs are bottom-feeding parasites?

JimmyTheWig

bitemebankers wrote: »

As someone who calls themselves a "financial advisor" I'd have take your input with a pinch of salt. You're part of the problem, not part of the solution.

While that could be an acusation to be thrown at some financial advisers (especially so called "advisers" who work in banks and only "advise" which of their own products a customer should buy), dunstonh is always on these boards helping people. I don't always agree with him, but he's definitely one of the good guys.

JimmyTheWig

bitemebankers wrote: »

My advice to the OP would be to make it clear that you're going to pursue this claim as far as possible (even if you're not). Banks are there to make money, by fair means or foul (if they think they can get away with it). Being nice will earn your nothing except possibly their derision. Having successfully reclaimed thousands in banks charges and PPI myself, I suggest you take a firm line with them.

I disagree. Yes, banks are there to make money. They're not going to give back that money unless they feel it is in their interests to.
When bank charges reclaiming was working, and while PPI reclaiming is working, the banks are paying out because they thought / think that they would lose in court. So the bank gets to keep more of its money if it pays out than if it goes to court.
But if you write threatening to "take it all the way" with something that the bank would be confident that they would win, they're not going to pay up.
If, however, you present yourself as a good customer - someone who will make the bank plenty more money in the future if they show a bit of goodwill here and now - then that could be a good investment for the bank. They may well refund (some of) the charges to keep a good customer.

bitemebankers

I'll bear that in mind, Jimmy.

kennyfong

There is an entire moneysavingexpert article on how to avoid 3% loading and charges when overseas. For debit cards with free ATM overseas withdrawal, Metro Bank is the obvious choice.

I also made the mistake of going overseas with a standard debit card not knowing better. Cost me hundreds - live and learn!

There's nothing to lose by making a request, but your chances would be very slim. I also don't see any ethical problem with them charging fees that are industry standard.

dunstonh

So why did they refund billions before then? Because they're as guilty as sin, that's why. Clever lawyers and a favourable judiciary may have been able to get them off the hook but they know and we know that they're rip-off merchants of the highest order.

They didnt want to go to court as they were not sure they would win. So, they refunded those that complained. That was still a minority of people compared to the overall that were being charged.

What's that got to do with the fact that IFAs are bottom-feeding parasites?

you are right. Your lack of education and understanding has nothing to do with it.

roonaldo

bitemebankers wrote: »

My advice to the OP would be to make it clear that you're going to pursue this claim as far as possible (even if you're not). Banks are there to make money, by fair means or foul (if they think they can get away with it). Being nice will earn your nothing except possibly their derision. Having successfully reclaimed thousands in banks charges and PPI myself, I suggest you take a firm line with them.

Comparing PPI to currency charges is completely different, you need to have a better understanding of the matter first. Banks incur charges for the use of the card abroad by eg Visa, this charge is passed on to the consumer. The bank is not at fault if the OP chose to use an expensive means of obtaining goods abroad. The OP will simply get a letter back saying its in the terms and conditions.

bitemebankers

roonaldo wrote: »

Comparing PPI to currency charges is completely different

No, they're just different ways of ripping us off.

you need to have a better understanding of the matter first.

Ahh, that must be what it is then. :rotfl:

We're not really being ripped off...we just don't understand that it's the bank's god-given right to extract as much money as they can from the consumer by any means necessary.

meer53

Bitemebankers. i work for a bank. We have no issues in refunding charges for customers. IF it is our mistake. If not, no refund. Charges are clearly detailed in terms and conditions, it's the customers choice if they choose to use their account in a way that incurs charges.

The OP states this was last year, why didn't they raise the issue when the first charge was applied ?