Yeh Nice One Martin .......... Not

Need_More_Money_2

sarah1975uk wrote:

Understand that it does cost something but for years they never charged ...so how was paid for before the new system of paying to withdaw cash ?? i assume the big fat cats in the banking world somehow incorporated their charges in interest rates etc.

I don't want to defend cash machine charges because I am opposed to them on principle. However, you could argue that the charging now is because of the increase in the availability of cash machines or just that it is making the charges more transparent (rather than hiding it in other charges your bank makes). If you live somewhere 'in the sticks' without a local bank, perhaps previously you would've had to pay to travel into town to get money from your bank. If someone installs a cash machine locally, the charge it makes is a charge for the convenience of being able to get your money without travelling.

Personally, I always avoid using fee paying machines. Most of the time I only want to withdraw 10 or 20 pounds and paying £1.50 on that is ridiculous.

sarah1975uk

Need_More_Money wrote:

I don't want to defend cash machine charges because I am opposed to them on principle. However, you could argue that the charging now is because of the increase in the availability of cash machines or just that it is making the charges more transparent (rather than hiding it in other charges your bank makes). If you live somewhere 'in the sticks' without a local bank, perhaps previously you would've had to pay to travel into town to get money from your bank. If someone installs a cash machine locally, the charge it makes is a charge for the convenience of being able to get your money without travelling.

Personally, I always avoid using fee paying machines. Most of the time I only want to withdraw 10 or 20 pounds and paying £1.50 on that is ridiculous.

Perhaps the banks should back down and only charge a £1 fee for any withrawals over say £50 rather than charging people for taking out small amounts, or perferably not charge at all lol.

sarah1975uk

you dont get charged for getting cash back with your shopping do you ?? unless someone can prove me wrong.

refundmeplze!

some people posting think bank charges are fair, after all a bank is a business.
why are they moaning that banks are going to start charging them for their accounts???

its a bit of a hypocritial point of view, dont you think????

rach29

Just wanted to add my two pence worth,

I know both sides of this argument very well from personal experience & my OH and I have had VERY heated debates on this in the past.

Until recently I was a manager for one of the high street banks & I held the view that the charges were fair because they were clearly stated etc and that people had a choice about wether they were in control of their bank account or not. However I did have experiences with customers where a small fee had spiralled into a completely unmanageable situation and I was powerless to help. I had been told clearly from "on high" that charges were not to be refunded & that they made up part of the income upon which I was targetted. I was also told along with my fellow managers that the reason for the charges being so high was to "make people sit up & deal with it" ie they were a penalty to force customers to resolve their debt.

I was uncomfortable about it but I was between a rock & a hard place :eek:


Thankfully I no longer work for said Bank and I am in the process of reclaiming bank charges for my OH (mainly brought about by financial difficulty following his divorce) and Boy does it feel good! :j

I have no problem with FAIR charges being levied & I have sympathy with those people who feel that as customers who have always "played within the rules" they will ultimately pay in account charges for all those who are reclaiming fees at this point, however, Banks are in business to make money and in my view they are entitled to do that so long as their profits are FAIRLY & LEGALLY made.

Just my point of view:o

Need_More_Money_2

sarah1975uk wrote:

Perhaps the banks should back down and only charge a £1 fee for any withrawals over say £50 rather than charging people for taking out small amounts, or perferably not charge at all lol.

I don't think the banks should charge at all. If other companies want to put cash machines in places where they wouldn't normally be (pubs, shops etc) then I don't mind them charging. So long as it is very clear what the charge would be before I use the machine. I think charging by percentage would be fairer. If they only charged for withdrawals over £50, we'd all just make multiple smaller withdrawals to beat the system

nel

krisskross wrote:

There are always so many excuses. I was the sole earner in my household for several years as my husband was sick. We had a mortgage and all the associated bills with running a house. We had 3 months bill and living money tucked away that was never ever touched as the disaster luckily didn't happen. However it was there and available, it did take 10 years to save but it was there.If you have no money you do without the freezer, washing machine etc. You pay essential things first like the insurances. I have been so poor that my children had to eat weetabix for dinner for several days in a row.......I will never be that poor again.

you must have had a very lucrative 10 years to be able to put the money away in the first place:T .....some people aren't so lucky

you don't consider your kids having to live on weetabix for dinner several days in row a disaster??:eek: and with the money tucked away was never touched??

i'm sorry but the way you have written that post you weren't THAT poor

if you hadn't had that money stashed away and had gone overdrawn by maybe a couple of quid....then you would now be sitting on the other side of this debate

sarah1975uk

refundmeplze! wrote:

some people posting think bank charges are fair, after all a bank is a business.
why are they moaning that banks are going to start charging them for their accounts???

its a bit of a hypocritial point of view, dont you think????

Perhaps a few banks should abolish or reduce charges to an absaloute minimum and attract massive new business that way thus from us moving our accounts to them instead, making them money that way, we should boycot all banks iwth rediculously high unfair charges then see who backs down. We should all club together and hopefully the little guys like ourselves will ultimately win...although i doubt it eh!

sarah1975uk

Need_More_Money wrote:

I don't think the banks should charge at all. If other companies want to put cash machines in places where they wouldn't normally be (pubs, shops etc) then I don't mind them charging. So long as it is very clear what the charge would be before I use the machine. I think charging by percentage would be fairer. If they only charged for withdrawals over £50, we'd all just make multiple smaller withdrawals to beat the system

Exactly well said!! x

Need_More_Money_2

I don't disagree with people reclaiming unfairly high charges and I understand that many people incur these charges due to bad luck rather than bad planning. However, I have to admit that this had left me thinking "Why did I bother worrying so much about ensuring I didn't go overdrawn? Why did I put so much effort into managing my finances so that I didn't incur these charges?"

I do feel we have to get the right balance. We need to support those in debt due to circumstances beyong their control, but we don't want to encourage bad financial planning by not having any deterent