Bank Charges case upheld

stoneman

redsquare wrote: »

Quote above:
"I have not once heard of anyone putting in a claim but saying "OK, I want x amount back, but lets come to an agreement on how much we think is a fair fee to be charged". I think hell would freeze over if that ever happened."

Hell wouldn't freeze over, the banks would come back and say £30.00!

Good point!!

chrissieo

stoneman wrote: »

And where do the people who are asking for the refunds get off asking for ALL the money they have been charged. So the banks are not even allowed to charge them anything, this is where my "jumping on the bandwagon" comes in. Folks with absolutely no idea of how a business works just blindly going along like sheep because someone tells them it's an easy buck.
I have not once heard of anyone putting in a claim but saying "OK, I want x amount back, but lets come to an agreement on how much we think is a fair fee to be charged". I think hell would freeze over if that ever happened.
The reason I think the banks have not decided to fight any of these is as stated before, yes they are wrong to call them "charges", because it is not lawful to make a profit from an administration fee, but I am sure if they went to court and tried to get some of the money the claimant asks for reduced, by at least saying " OK, we overcharged them, but surely they are not entitled to ask for all the money returned" they would be able to reduce what they are paying out by at least a third. but at the moment, they don't wish to set any precedence, they have the money to deal with this.
And another thing, don't you think that by claiming back your "unfair fees " from those nasty banks that that will be the end of the matter. Wait till the next time you try to get a loan or a mortgage.

Well that's where you are wrong, I have done exactly that. After receiving a partial offer I have written back to Cap1 stating that I am prepared to accept a charge of £4 per charge incurred, I have surrendered a revised claim to reflect this and am not looking for interest unless the case goes to court.

Chrissie

krisskross

tenaciousD wrote: »

I'll accept them if I think they are appropriate, which I'd class as £4 at the most.

So if the bank cannot offer you this assurance then you will not have a bank account? I am sure the banks will be queueing up to be allowed to service your account and risk losing money for what you in your wisdom, with probably no knowledge of the workings of a financial institution, deem appropriate.

What if you were a plumber or an electrician or something and a would be client decided your services were only worth £5 an hour and you thought it should be £15. Would you be happy if you were forced to do his work for what he thought was reasonable. What if, even worse, he agreed to your price at the beginning and did not dispute it until after the work was done. Then not only did he not want to pay £15 an hour, he woudn't pay anything.

Moglex

stoneman wrote: »

See, you insulted me personally, while I just insulted people in general.

Indeed. I just insulted one person who deserved it. You, on the other hand insulted 'people in general', i.e. everyone, and you seem to think that's a good thing.

Now, I really want to know at what point during the period you accumulated over £2,400 worth of bank fees, you decided to stop your direct debits, standing orders, etc until you had sorted things out, or were you still at Uni and had no notion of the word responsability.

Why don't you read and understand what is writen here.

I never accumulated any such bank charges.

Are you making this up or can you not read English?

BTW, you really think that there is no sharing of info between banks, who of course supply the loans, etc. Just because it doesn't go on a formal credit report, doesn't mean it ain't there.

Ever heard of the data protection act?

If they did that without the proper authority they could get into very serious trouble.

I'm bored now, I will let you have the last word.

Says he before making another post

Moglex

krisskross wrote: »

So if the bank cannot offer you this assurance then you will not have a bank account? I am sure the banks will be queueing up to be allowed to service your account and risk losing money for what you in your wisdom, with probably no knowledge of the workings of a financial institution, deem appropriate.

He didn't say he wanted any assurance. He just said if they were reasonable he would accept them.

Obviously he would also have to accept them if they were deemed lawful.

And the banks are perfectly happy to have the business of people who do not trigger unlawful charges which means they are quite capable of making money from customers WITHOUT stealing from them by levying unlawful charges, so there is absolutely no reason why they should not be happy to have customers who do get DD bounces so long as they can recoup the actual cost of processing the bounce (probably a few pence).

And I do have a great deal of knowledge about the technicalities of the data processing systems required and the cost of providing thse data processing systems. It will cost them less than 10p without sending a letter and less than £1 if they do.

nikki.paul

Just to let you no. My ex bank charged me because I had no money due to the fact The company were I worked made me redundant 6 months pregnant with no warning. They charged me hundreds of pounds charges and would not default my account week after week. When you owe everyone and you suddenly have no money it is easy to slip into this trap. It was not till I could not juggle the money anymore I broke down and rang the debt helpline and got help. So please do not judge people for claiming there bank charges .debt is easy to get in when you are desperate. Because that is when all the pond life lenders come out of the woodwork and pray on vunerable people. And I hope people never have to find out what it is like, But I am sure many of you on here already have.
I have one debt left with the Natwest and my charges out way this. I have a good full time job and everything is good again and I will never get into debt again I have been debt free for 1 year and it feels great. I have never taken out a loan or credit card or agreement since and I never will.
I am with a different bank and have only been charged once in the last year ( not due to my error )
So I say good luck claiming your bank charges.
Take them for all there worth because they will not think twice about doing it to you. They prayed on me when I was at my most vunerable. Is about time it hit them where it hurt.:j

Nikki
xxxxx

(be careful who you mess with on the way up as you may meet them on the way down)

tenaciousD_2

I don't know what those who are opposed to us reclaiming our bank charges think the money went on but I certainly wasn't living a care free champagne life style. The majority of my charges came from when my employer cocked up and paid me 2 days late and I had some DD bounce, and it was 6 months before I was in the black again. Simularly I am helping a friend of mine reclaim his charges. He was suffering with very serious depression and to be frank wasn't capable of running a bank account properly. In the last couple of years Halifax have done very well out of him with the charges, which we are keeping our fingers crossed we get back and they've also been earning 30% interest on them so its pretty hard for me to feel sorry for them. I don't know why it is considered ok for the banks to profit from others misfortune.

Al_Mac

Moglex wrote: »

And I do have a great deal of knowledge about the technicalities of the data processing systems required and the cost of providing thse data processing systems. It will cost them less than 10p without sending a letter and less than £1 if they do.

Of course you've taken into account staff, 24/7, buildings 24/7, computers 24/7, regulatory software developments etc And the fact they have to pre-notify you of any charges, so there has to be some kind of letter;)

But yes, a pound seems fair to me as well:D

Moglex

Al_Mac wrote: »

Of course you've taken into account staff, 24/7, buildings 24/7, computers 24/7, regulatory software developments etc And the fact they have to pre-notify you of any charges, so there has to be some kind of letter;)

Well, I would have assumed a letter except for the fact that they (well, at least Nat West) do not send letters any more. They are simply charging £30 to not process a transaction.

And, yes, of course I included account staff, (although not 24/7 - why would I do that?), buildings 24/7, computers 24/7, regulatory software developments etc.

If any transaction cost more than a few pence to process then they would not be able to offer 'free' banking to the vast majority of their customers, the vast majority of their time.

But yes, a pound seems fair to me as well:D

Maybe not exactly fair, but hardly worth arguing about.

oldwiring

Moglex wrote: »

If the OFT actually gets the information from the banks as to how much it cost for their computer to not perfom a DD as opposed to perfoming one, or to allow debit card transaction when someone is alread at/past their o/d limit and sets a fair charge, it will probably be just a few pence.

Even if it's rounded up to a pound, I'm sure people will be happy to pay.

What has got everyone's hackles up is that the banks are illegally charging people fees that bear absolutely no relationship whatsoever to the 'service' provided.

Effectively thay have stolen the customer's money, and, just as with any other case of theft, the agrieved party want their property back.

Why is that so difficult for you to understand.


BTW, this thread does not belong here as it is not about reclaiming charges.

If you think I do not understand the points abou charginb, then you are absolutely wrong/ As to where the thread should be, Iwill rely on the moderators' decision not yours. You own as much of MSE as I do: that is nothing. We both are only members:beer: