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

doitmyself

Exactly Ivan. I've read a number of your posts and I know you're closer to understanding what's coming down the pipe than many of us. I read one post on here, just one admittedly but where the poster had successfully claimed whatever hundreds or thousands back and was now going to, quote "spend spend spend"
I think you already made the point...

203ivy

At least !!!!!! Turpin wore a mask when he robbed - the Banks do it with Bare faced Cheek!!! £30 a letter is robbery!!

System

doitmyself wrote: »

Hi hula, you are talking to me?
I haven't complained, far from it I wished the claimers, that includes yourself good luck in getting your money back although as not a single case has been contested afaik I don't think good luck comes into it. You are, or soon will be as you say, quits.

The issue is that the banks are £x down as a consequence of the reclaim action. Forget the rights and wrongs for a moment they are paying out money they weren't, er, banking on paying out. Somewhere somehow that is going to hurt them. To you it's quits but you are one of many and business is a little more complex than just what happened today. If the baker sold all his bread today, great. If the dumbass forgot to bake any hot cross buns for tomorrow he's stuffed.

The banks will want this money back and they will get it back, and they may well impose, for example, an annual charge on all their customers as one way of getting it back. For those people, such as Trademark who have always paid their bills, never gone over their o/d limit etc. and always enjoyed free banking as a result may feel somewhat aggrieved by this, and clearly do.
That's my take, not necessarily my opinion.

So.... people who have managed their accounts badly (for whatever reason) and paid charges have been subsidising free banking for years!

Or could it be that banks are just incredibly greedy? Or both?!

Whatever..... what will be will be

UNDERGROUND

doitmyself

The banks are greedy yes, they are profit making businesses and unless you're one of the live-in-the-woods brigade you might one day be happier about that than you yet realise.
On a more topical note I think whatever will be will be whatever the banks want it to be. They'll close the door on any reclaiming of charges in future I'm pretty sure about that.

Have the (for whatever reason) hapless bank customers been subsidising free banking for years? Yes, and I'd guess they'll continue to do so on the basis that they'll always be easier to penalise somehow and they contribute less to the banks' other, more profiatable businesses.

For all the good intention and 'lightbulb moments' you read about on here, hapless people are hapless people and always will be. In a year's time when all the claims are settled and the hundreds or thousands claimed has been spent all over gain people will be wanting help because their salary's going into one account but their water bill's coming out of another and their leccy out of another and they're getting charged all over again because they can't remember how many 'parachute' accounts they opened or what d/d's are where ("can I claim it back...").

Happy to be proved wrong. Let's see...

System

doitmyself wrote: »

The banks are greedy yes, they are profit making businesses and unless you're one of the live-in-the-woods brigade you might one day be happier about that than you yet realise.
On a more topical note I think whatever will be will be whatever the banks want it to be. They'll close the door on any reclaiming of charges in future I'm pretty sure about that.

Have the (for whatever reason) hapless bank customers been subsidising free banking for years? Yes, and I'd guess they'll continue to do so on the basis that they'll always be easier to penalise somehow and they contribute less to the banks' other, more profiatable businesses.

For all the good intention and 'lightbulb moments' you read about on here, hapless people are hapless people and always will be. In a year's time when all the claims are settled and the hundreds or thousands claimed has been spent all over gain people will be wanting help because their salary's going into one account but their water bill's coming out of another and their leccy out of another and they're getting charged all over again because they can't remember how many 'parachute' accounts they opened or what d/d's are where ("can I claim it back...").

Happy to be proved wrong. Let's see...

Oh what a ray of sunshine!!

Regards
UNDERGROUND

dmdevlin

trademark sounds like my bank manager. a total xxxxxxx xxxx xxx

michael1983l

well trademark its about time that the poor stopped fundinng the rich isnt it. Well done martin....

honeychild

im surprised this hasnt been shut down! people on here are very over protective over anything that isnt praising martin lewis!

yes we should have managed our bansk accounts better so as not to go overdraw so the banks dont charge us

But what you are forgetting is the banks do not have a right to over charge you giving you a ridiculous fee to pay it works both ways. if they kept within the law then none of this would be happening consumers have a right to challenge the banks and if they want to penalty you in another way then thats the way it is but it doesnt mean that we the conusmers should feel guilty about doing the right thing and back down!

doitmyself

michael1983l wrote: »

well trademark its about time that the poor stopped fundinng the rich isnt it. Well done martin....

Martin (Lewis) is just a journalist not a social reformer and he's latched onto something someone else did in order to further his own career, and is doing very well out of it too it seems. No problem with that incidentally I like the guy (except I think he needs a new idea or two now).

Michael, I don't think anything has fundamentally changed here - the poor have always funded the rich to some extent and they always will. The (Labour) Chancellor produced another example of that with his 10p tax thing just last week!
The banks, once they've settled all these claims will still be holding all the aces and it just remains to be seen then how they play their hand.

wotsthat

Michael, I don't think anything has fundamentally changed here - the poor have always funded the rich to some extent and they always will. The (Labour) Chancellor produced another example of that with his 10p tax thing just last week!

The poor don't fund the rich, regardless of the '10p tax thing' - this has got nothing to do with being rich or poor.

The banks have made a fortune over recent years and some of that has come from penalty charges which have been applied to people's accounts for whatever reason. These may, or may not, prove to be unlawful.

The problem for the banks is that they want to improve profits every year and so need to find replacement income. They've been trying to remove free banking for years, well before this issue came along, and to an extent they've suceeded (charges for using a card abroad, accounts with 'benefits' and so on). This campaign gives them an ideal opportunity to introduce further charges and blame someone else.

This 'class war' argument will have banks rubbing their hands all the way to the, ahem, bank.