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

brasso

feedering wrote:

Again missing the point, what the banks are doing is unlawful its that simple.
The banks making millions no billions each year out of our money. We are forced in todays society to have a bank account, they make money from us because of this.

So why should we sympathise with the banks?
Always remember a bank is a business its there to make moneyfrom you!!! thats it!!! It will do you no favours.

Sorry feedering, but I am not "missing the point", indeed in the post to which you replied, I stated that the banks have been shown be behaving not just unlawfully but immorally, in levying charges deemed to be "punitive" (I think that was the word used in the judgement).

The banks do make money from the deposits we give them which is why I resent having to pay them extra charges on top of that if I manage my account properly, which seems like a possibility if they are unable to charge people who go overdrawn without permission.

As for your statement that "a bank will do you no favours", that is frankly ludicrous. I used to think like that when I was a teenager, and hated the bank because it wouldn't give me money that I didn't have, or because it gave me money I didn't have, then charged me for it.

Since I've grown up, I've realised that a bank will do me all sorts of favours like lend me money if I need it, arrange transfers between accounts, arrange payment of bills without me having to go to the high street to pay at the gas showroom (remember those days?). I can get foreign exchange, I can buy shares, I can get a credit card, I can manage all my accounts from a computer screen, I can pick up the phone and talk to those nice people at First Direct if I need to, 24 hours a day.

Here's a shocker for you -- I like my bank! They do a lot of work for me, and they don't charge me a penny because the deal is that they can use all my deposits for whatever they want, and pay me a tiny amount of interest. I could get more elsewhere, but I like these guys, they help me, so I'm going to leave my cash where it is.

Not everyone feels so negative about their banks.

I said before -- the occasions when I've been charged for going overdrawn without realising, I've simply called them and they've refunded the money. No problem. I have a relationship with them, even though I never see them face to face.

ManAtHome

Brasso - are FD charging you (read a while back they were introducing charges), or do they work like HSBC (surprise..) and waive the charges if you borrow or lend enough from/to them.?

I think most of the banks will move this way - I know I'm "losing" a few quid by leaving money with HSBC, but it balances out as I'm not charged (Premier account). Yes, I think it's a reasonable deal...

LouBlue

brasso wrote:

I admire your faith in human nature Al!

Am I being cynical to suspect that the people who are claiming £4K in charges are going to be even more irresponsible when that amount pops up in their bank account? I'd love to think it will get them back on the straight and narrow but....... :rolleyes:

You're not being cynical, just realistic with some people unfortunately. I am claiming back £700 odd quid but I am determined to be more vigilant with bank account and statements from now on because I should have avoided the majority of those charges in the first place so whilst it will be great if/when I get this money back but from now on, I shall be a lot more responsible.

feedering

brasso wrote:

Sorry feedering, but I am not "missing the point", indeed in the post to which you replied, I stated that the banks have been shown be behaving not just unlawfully but immorally, in levying charges deemed to be "punitive" (I think that was the word used in the judgement).

The banks do make money from the deposits we give them which is why I resent having to pay them extra charges on top of that if I manage my account properly, which seems like a possibility if they are unable to charge people who go overdrawn without permission.

As for your statement that "a bank will do you no favours", that is frankly ludicrous. I used to think like that when I was a teenager, and hated the bank because it wouldn't give me money that I didn't have, or because it gave me money I didn't have, then charged me for it.

Since I've grown up, I've realised that a bank will do me all sorts of favours like lend me money if I need it, arrange transfers between accounts, arrange payment of bills without me having to go to the high street to pay at the gas showroom (remember those days?). I can get foreign exchange, I can buy shares, I can get a credit card, I can manage all my accounts from a computer screen, I can pick up the phone and talk to those nice people at First Direct if I need to, 24 hours a day.

Here's a shocker for you -- I like my bank! They do a lot of work for me, and they don't charge me a penny because the deal is that they can use all my deposits for whatever they want, and pay me a tiny amount of interest. I could get more elsewhere, but I like these guys, they help me, so I'm going to leave my cash where it is.

Not everyone feels so negative about their banks.

I said before -- the occasions when I've been charged for going overdrawn without realising, I've simply called them and they've refunded the money. No problem. I have a relationship with them, even though I never see them face to face.

You are of course entitled to your opinion as I am, Howeverthe fact still remains that you get nothing for free from a bank. Aside from legitimate charges a bank uses your money to make money yet offers a terrible interest rate in return.

oldandhappy

Twice many years ago we got caught out with high bank charges(won the refunds after a fight) and solved this by having an automatic transfer from our savings a/c to our current a/c when the balance got to only £20. It has solved it for us because we have always managed to keep a good balance in the savings a/c. One close family member has never got to grips with balancing finance. He has had horrendous bank fees it turns out for years and actually pays out each month for 'bank management' now. When we found this out recently we where shocked but he firmly believes it is the only way for him to keep the bank fees at bay that had crippled him for so long.
He recently got full custody of his two young children which has really messed up his finances again...long story that would make a best seller.. maybe...so yes he has always been a bad money manager and the help we have given him over the years has made little difference we believe but one thing for sure the past bank fees crucified him and hopefully when he receives Martins template letters in the post he will make a claim against them.

chrissyfp1

brasso wrote:

Sorry feedering, but I am not "missing the point", indeed in the post to which you replied, I stated that the banks have been shown be behaving not just unlawfully but immorally, in levying charges deemed to be "punitive" (I think that was the word used in the judgement).

The banks do make money from the deposits we give them which is why I resent having to pay them extra charges on top of that if I manage my account properly, which seems like a possibility if they are unable to charge people who go overdrawn without permission.

As for your statement that "a bank will do you no favours", that is frankly ludicrous. I used to think like that when I was a teenager, and hated the bank because it wouldn't give me money that I didn't have, or because it gave me money I didn't have, then charged me for it.

Since I've grown up, I've realised that a bank will do me all sorts of favours like lend me money if I need it, arrange transfers between accounts, arrange payment of bills without me having to go to the high street to pay at the gas showroom (remember those days?). I can get foreign exchange, I can buy shares, I can get a credit card, I can manage all my accounts from a computer screen, I can pick up the phone and talk to those nice people at First Direct if I need to, 24 hours a day.

Here's a shocker for you -- I like my bank! They do a lot of work for me, and they don't charge me a penny because the deal is that they can use all my deposits for whatever they want, and pay me a tiny amount of interest. I could get more elsewhere, but I like these guys, they help me, so I'm going to leave my cash where it is.

Not everyone feels so negative about their banks.

I said before -- the occasions when I've been charged for going overdrawn without realising, I've simply called them and they've refunded the money. No problem. I have a relationship with them, even though I never see them face to face.

I don't think that anyone is saying that there shouldn't be a charge for exceeding your od limit. Although the banks could easily make this impossible by simply not allowing money to come out of your account thats not there. If they did this then there wouldn't be allegations of people trying to steal from the bank. There would just be a charge for bouncing the dd or whatever. This charge however as most agree should be proportionate to their costs.
You stated that you like your bank and that they do a lot of work for you for nothing. In fact they give you money, no matter how small that amount, for all that work they do for you. That is very nice of them really! But if you are not paying the bank for all the nice things that they do for you, why should someone else pick up the tab for you. If you were a gr8 customer in a pub you might get a pint from the landlord every now and again, but would you expect that the guy who's only brought one pint because he can afford no more, to pay for the pint that the landlord has given you? Probably a bad comparison, but it's the only thing that comes to mind. My point is, should someone subsidise you because they are not as financially stable as you for whatever reason?

viktory

Need_More_Money wrote:

Somebody said that those in debt are in debt because they have lived beyond their means. Whilst that is quite an emotive statement, it IS essentially true. However, there are vastly different reasons why people might have lived beyond their means. Some justified, some not.

No, there is no justification for living beyond your means.

brasso wrote:

I admire your faith in human nature Al!

Am I being cynical to suspect that the people who are claiming £4K in charges are going to be even more irresponsible when that amount pops up in their bank account? I'd love to think it will get them back on the straight and narrow but....... :rolleyes:

Doubt it! See post #361. There are people who are already on to their second claim.

ddavis

Heres an interesting question for all you 'never go overdrawn blah blah' lot..

Why is it even possible to go over an agreed overdraft limit?

I'll tell you why, because it makes the bank 35 quid if you do.

I have 100 in my bank. I want to purchase something for 100.98
The bank should say no. I can go find the 98p in cash and do it that way.

Al_Mac

And here is a question for you. Would you be happy for your bank to turn down a request just because of a penny?

Edited to add, whatever a bank does, it will be wrong for someone.

Need_More_Money_2

viktory wrote:

No, there is no justification for living beyond your means.


.

Yes there is. What if the loan was taken out before losing a job? You are then living beyond your means and there isn't a lot you can do about it.

What if you lose your job and can't claim any benefits for several months. Living beyond your means is just living - doesn't have to mean buying expensive things - just food. I do accept that some people do however live unjustifyably beyond their means.