Bank Charges case upheld

denim.demon

monkey123 wrote: »

HOW dare the bank charge you for taking THIER money!

Yeah but when my account is in credit and the bank is using MY MONEY they don't pay me anything.

MPH80

denim.demon wrote: »

Yeah but when my account is in credit and the bank is using MY MONEY they don't pay me anything.

As Martin is SO fond of pointing out when questioned over the end of free banking - we have an incredibly competitive current account market - so switch to one that does.

Or adjust the way you hold your money to put the spare credit in your account into a savings account which pays a decent rate.

I'm sorry to have to tell you this - but saying the banks won't pay you anything for having your account in credit is purely because you haven't looked around for the better deal.

M.

Moglex

MPH80 wrote: »

As Martin is SO fond of pointing out when questioned over the end of free banking - we have an incredibly competitive current account market - so switch to one that does.

Or adjust the way you hold your money to put the spare credit in your account into a savings account which pays a decent rate.

I'm sorry to have to tell you this - but saying the banks won't pay you anything for having your account in credit is purely because you haven't looked around for the better deal.

That rather misses the point.

True, it is possible to get accounts were the bank pays you a miserly rate of interest for money in your current account, but most people don't, and that is how the banks finance so called 'free' current accounts.

There is no need for them to make illegal penalty (a.k.a 'service' ) charges as well.

Knackered

@Monkey.

Wow, anther member of the Moron Club. In fact, with one post you're probably the same person.

Start your own forum advising people with your infallible financial nous. You clearly know more about the economical world than Martin or anyone else on here.

AlexisV

These fools miss the point - whether you could be described as incompetent enough to rack up charges is neither here nor there.

The law says they must be in proportion to the costs incurred. This is not open to debate. The law has precidence over any T&Cs or contract.

Bleating on about fairness is not the issue. It's about the law, and that has nothing to do with profit or commercialism (markup on a loaf of bread- where did that come from?)

supersavershal

What fools to critisize people for wanting their charges refunded.The very fact that people have joined this site shows they are taking responsibility for their spending.I thought this site was for support and we are not to judge, it doesnt matter why people were charged what matters is that they are moving forward and managing their money better now.I have wasted thousands of pounds when I was younger, I am now a responsible money saver.The banks never acted in a responsible manner when they handed out overdrafts, credit cards and loans without ensuring I was responsible enough to pay them back.The banks would not pay up unless they knew their charges were illegal! If these morons dont want to offer constructive support and advice they should crawl back in the hole they reared their idiotic heads out of!:mad:

rachieb_2

it makes me mad when people post things like this, through no fault of my own i racked up over £1500 in bank charges, i am 33 years old and had a brain bleed which caused me to have a stroke, so i was unable to work, i cancelled my direct debits as soon as i came out of hospital but it was too late, i was already overdrawn to the tune of £600 without an authorised overdraft, i tried to speak to the bank but they would not allow me to have a authorised overdraft because i was unable to work, so the charges mounted. When my first lot of back dated benefits came in the bank took them.

this is not fair, i agree that the bank should be able to charge something "reasonable" but how can £38 for a bounced direct debit be reasonable? To be honest its about time we fought back.

I have instigated court proceedings against NATWEST who have now filed a defence, but do you know what i am ahppy to go to court and if i win i will have every possible newspaer there taking photos of me in my wheelchair having beated the bank to inspire everyone else.

oldwiring

Question without criticising at all those who are claiming.:D and :beer: to refrash those inner parts!

What will you do tp prevent yourselves having occasion to be charged in future? If OFT does eventually decide an apprpriate level of charges, will you accpt them?

OK constructive replies or insults, at my age It'll be water of a duck's back.

4sibbs

Is it worth playing the discrimination card with LLoyds as they have already paid out to some lucky people? I know their defence may be that each case is different but in essence we are all in the same boat as we claiming back unlawful charges/fees.

MANDIE_3

I am at the moneyclaim online stage at the moment and the HSBC have acknowledged the claim. I have also been offered partial settlement of my claim. I am still going ahead though as I think its important not to panic about this recent one ruling. At the end of the day the charges they've levied are out of proportion to what it costs the banks to service the bank accounts and this is what this whole thing is all about.So I hope that everyone involved in this process carries on.