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

krisskross

feedering wrote:

What the banks do is unlawful, thats the end of it. I cant believe that you condone the banks actions. I suggest you actually read the law regarding penalty charges.

I don't believe this question has been ruled on. Who says it is unlawful? Think at the moment that is an assumption not a fact.

feedering

krisskross wrote:

I don't believe this question has been ruled on. Who says it is unlawful? Think at the moment that is an assumption not a fact.

Actually it is unlawful to charge more than the actual cost to administer a failed DD etc. This is a penalty charge which is unlawful under various consumer regulations, common and statute law.

krisskross

feedering wrote:

Actually it is unlawful to charge more than the actual cost to administer a failed DD etc. This is a penalty charge which is unlawful under various consumer regulations, common and statute law.

And the actual cost of administering a failed DD is? How can there be a ruling when no one knows the actual cost? Except the banks who aren't telling us.

chrissyfp1

krisskross wrote:

And the actual cost of administering a failed DD is? How can there be a ruling when no one knows the actual cost? Except the banks who aren't telling us.

I think most people in most companies, including those that work in banks will agree that it doesn't cost £35 to send out a computer generated letter. If the banks can prove somehow that it does then fine. As you said though they don't seem to want to reveal how much it really does cost........ i wonder why?:rolleyes:

nickmack

krisskross wrote:

How can there be a ruling when no one knows the actual cost? Except the banks who aren't telling us.

I think everyone already knows why banks are not telling.

If it does cost the bank £25/£30/£35 per failed payment, why do they not provide evidence and stop all these claims? It would only take one large claim to go to a higher court and a ruling could be made. End of.

Is there a reason anyone can provide why the banks have not done this?

Barclay_Bird

As someone who works in a bank, can I just please ask that you are nice to branch and call centre staff. It isn't their fault and they are not paid masses of money.

Thanks

BB xx

feedering

krisskross wrote:

And the actual cost of administering a failed DD is? How can there be a ruling when no one knows the actual cost? Except the banks who aren't telling us.

Sorry I did not you were arguing for the sake of it! If teh charges were £35 then the bank would show this. Also a letter has almost if not no manual intervention again reducing the cost.

So.

Paper 1 Sheet 5p
Ink 5p
Stamp 32p?
Envelope 5p

and say £1 for electricity and maual labour so roughly £1.50 and I am being generous.

Dave_liverpool

Perhaps for the exectionally stupid they could operate a flash screen at the cash point, try and bring it to their attention.

THIS WILL MAKE YOU GO OVERDRAWN

THIS TRANSACTION WILL COST YOU £XXX AS YOU DO NOT HAVE SUFFICENT FUNDS

DO YOU WANT TO GO AHEAD WITH THIS?

trademark

feedering ... i do condone the banks because i understand how debt can turn and unbalance the sensitive financial environment in which we live.

Very quickly i might add ....

There must be a penalty for taking something which is not yours

If you were to take my wallet from my house you may well go to jail, if you are to take money from a bank

AND DO NOT BE MISTAKEN, THIS IS WHAT YOU ARE DOING BY EXCEEDING THE TERMS OF YOUR ACCOUNT AND OVERDRAFT FACILITY.

Then you are charged around £30-£35 ... I think this is fair and very right.

Now ill say this again, there are genuine cases where a bank abuses this penalty and this must be addressed, ive been around you might say, im 39 and the majority of people i know who are in debt have got to that position by doing as i did as a teenager, overspending to obtain items that i could not afford, the £15 letters of those days acted as an incentive not to go further and to contact the bank, who i might add were very helpful once id explained my position.

There are also intermediates who can act on your behalf to reduce debt and communicate with the financials, free services which can be contacted through the citizens advice centre.

So there is no excuse that a bank would not listen though im sure ill hear about them now.

Not many here like the fact ive raised this thread as they do not like home truths ... who does, and as ive said before there can be no winners here, least of all the minority who support the banks to some extent.

Al_Mac

feedering wrote:

and say £1 for electricity and maual labour so roughly £1.50 and I am being generous.

For a basic one yes. However on average you are wrong. Certain accounts have to have manual intervention, sometimes on a daily basis, so I reckon the £2 - £3 would be fairer. £4.50 in my opinion is to much