Bank Charges Test Case Article discussion

johnny_storm

Thats interesting, as I think the profits that power companies make are unfair, and I think I should be able to reclaim all Ive been charged. Maybe this will be his next challenge?

Of course its a matter of choice. You can choose whichever bank you wish, and you can also choose whether you run up debts or live within your means.

The pizza example, god that has been taken so literally. What I meant by it, is that you cant keep paying for something for years and then afterward decide it wasnt worth it.

Keep saying to yourself, banks are there to make money.

Nathan_Spleen

johnny_storm wrote: »

Of course its a matter of choice. You can choose whichever bank you wish.

Read my post again and tell me if I was referring to a particular bank or the industry.

johnny_storm

I cant find any points in your post tbh. Banks are like energy companies, you can be cut off, they are out to make money. Ermmm whats your point?

Nathan_Spleen

Do I really have to spell this out for you?

You have a choice of which bank you use. You don't have a choice of whether you use a bank or not. Therefore banking is a utility, somewhat different than a pizza.

Tim_L

johnny_storm wrote: »

But the whole drive of this campaign is to stop them making money this way.

If the banks cant charge accounts that go overdrawn, what is the point for them?

They can - they can charge interest. That is the traditional way of making money from lending money.

johnny_storm

Ok so given they want to make the same if not more money each year.

How do you propose they continue to do this, if they cannot make money punitively? The only choices I see are a charge to all bank accounts, IE no free bank accounts, or significantly increase the interest rates charged?

Nathan_Spleen

During his submission to Justice Smith in the OFT v Banks test case hearing, lead QC for Nationwide, Geoffrey Vos, stated on the subject of the cost of personal current accounts '

'And what is the price? Well, my Lord, the price is broadly free for the credit customer, except of course we retain the difference between the interest rate that we give the credit customer and whatever commercial interest rate we are able to achieve on the money deposited, and that can be regarded as part of the price.''

oldwiring

shamrock7 wrote: »

The sun always shines on the righteous!

Really New American Standard Bible (©1995) so that you may be sons of your Father who is in heaven; for He causes His sun to rise on the evil and the good, and sends rain on the righteous and the unrighteous.:D

BigAl94

setmefree wrote: »

Nah i think you have not only become the most unpopular person for accusing Martin of something that has been proven true (i.e. banks are guilty) you must also be the most useless person ever to post on this thread

Clearly, you haven't read the judgment, probably never read the terms and conditions of your account and certainly haven't read the Forum Etiquette!

newreclaimer

Hey Johnny Storm,

As you like your Pizzas ask your 'mates at work' this.

Youre in your local Pizza shop and order. When the Pizza's ready you realise youre a few pence short. The Pizza man says dont worry take the Pizza and pay me the rest next time.

Next time you go in the Pizza man leans over the counter and takes £35 out of your wallet and says that for not having enough money last time. You can do nothing about it so decide to take him to court.

Before your big day in court the Pizza man goes to the Pizza adjudicator who says to the Pizza man I dont agree with you but Ill tell the courts to hold fire on this for a year or 2. In the meantime the Pizza man continues to take money out of customers wallets knowing nobody can do anything about it.

Do your 'mates' think thats fair??