Bank charges ARE fair

SkinFlint_2

So what ?? Probably just borrowing somebody else's UNFAIRLY CHARGED money, not yours.

Just chill out !

Tozer

Perfectly "chilled" thanks.

Not impressed with your arguments at all. Incurring such charges is disproportionate to the income of some people.

I try and reflect a balance view on this website - suggest you read my other posts. Would be great if you could "chill" and take the same approach.

mioliere

Yes, the banks are allowed to make a profit but they already do! The money - OUR money - that they have in all the accounts is constantly being invested. A friend of mine works for Lloyds in their factoring section and she said that our money is invested on the UK stock market then, when that closes at the end of business, it's invested in the next global one that is open, say, Tokyo or New York and so on ad infinitum. That's OUR money they are making huge amounts of interest on and we don't get any of it, do we? They simply wouldn't exist without us!

SkinFlint_2

No problem bro, I'm perfectly chilled too. Just opinion at the end of the day. I'm more concerned about United getting 3 points against Boro tomorrow.

hpuse

If anyone holding HSBC , next year will see the difference!

SkinFlint_2

Al_Mac wrote: »

Hopefully not:D

Ha Ha, we'll see...

Twinkly

Tozer wrote: »

Not strictly true. Actual loss has nothing to do with things. A charge of liquidated damages has to be a genuine pre-estimate of the loss likely to be suffered in the event of a breach. The UTCC Regs have zip all to do with that and they have not facilated the ability of consumers to reclaim at all.

The liquidated damages point is ancient - goes back at least 150 years in English law. It's also an argument I ran when I was a law student many years ago.

I've no intention of getting into the finer points of the consumer law in question, I was simply answering a rather sarcastically posed question with a simple straight answer.

I appreciate the information you've provided though. However uneccessary to my requirements I do find your posts are thorough and informative

Twinkly

Quote:Originally Posted by Twinkly
I will start blaming all the good guys for having their free banking paid for and subsidised straight out of my own purse. Using the same ideal, why should the bank be allowed to take my money to give to you ?

reehsetin wrote: »

people in credit would be paying for their own banking , banks earn interest on the customers money

yes charges are excessive but some people just seem to blame the banks full stop, its all their fault, its not all the banks fault, thats the only attitude that irritates me

I think you have quoted me out of context there. My statement is meant to show just how ridiculous it would be of me to say that. Just as ridiculous as blaming the people that reclaim charges for the end of free banking or anything else imposed on those run their accounts well in perceived 'revenge' by the banks.

The way other people run their accounts is not my concern and I make no judgement on it. It is the attitude shown by some that the bank should be allowed to take whatever they like from others unchallenged so long as it doesnt affect them that irritates me, frankly. I dont know precisely how a bank earns money and I have no interest in knowing but it would be incredibly naive of me to assume that I have paid directly for everyone else's free banking through my charges wouldnt it ? Its just as naive to assume that free banking will end directly because of reclaimed charges. It just isnt that simple and it is pointless arguing on a forum about and throwing blame around like squabbling children.

Magatag

grimreaper wrote: »

charges are fair but they r too high, im with halifax on paper free service so how can you say that 39 pounds for an aautomated email is fair i dont!!!!!!

I couldn't agree more!!.. I too am with paper free online service, I use my electricity and my computer to go and view a Halifax letter notifying me I'm being charged 39.00 for an unpaid direct debit.

I'm in all agreement we should be charged for unpaid items, but the proposed 12.00 is much fairer than 39.00. I was in hospital once and had a lovely 117.00 taken out in one day oh and then 28.00 for being overdrawn via that deduction!.. nice one Halifax.

So sorry to the original poster, don't go telling me that that was fair. :rolleyes:


Oh and from what I've heard the refunds paid from the bank are just a puddle in the ocean of the profit they made this year!

PaulW922

I think the end of free banking is very unlikely. For personal customers who work and have a regular income it is a saturated market. People on low incomes have never been welcome at most banks and I think it is very unlikely that they would be now had the Government not pressured the banks to offer universal (basic) accounts.

What i think is very likely, is that a full service bank account, that is a cheque book, guarantee card, debit card, overdraft, branch counter service etc will come with a monthly or annual fee. A free bank account is likely to be scaled down, perhaps just with a debit card but no cheque book (cheques are expensive for banks to process whereas debit cards and ATMs are dirt cheap). I think we can also expect to see more automated facilities such as the pay-in machines being introduced at Halifax and HSBC, and which Nationwide has run for a few years.

A number of larger stores don't take cheques now. Here in Sussex, Boots has been trialling a 'no cheques' policy which it is now rolling out nationally, and WH Smith and Shell do not take them either. If you just use basic banking facilities that don't cost much to provide then I would guess you'll be ok. It's the full range of services which, lets face it, are being subsidised by people who clock up fees, which I would expect to see charged for. (And that's fair isn't it? If you get the service, there is no right to expect other people to be made to pay for it even if it is through mis-management).

This is just speculation on my part - I just don't see free day to day banking going completely.