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possible loophole??

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Comments

  • baxgttdi
    baxgttdi Posts: 388 Forumite
    At the end of the day 90% of people of these forums have in the past or currently have finacial problems of one kind or another nyself included. This can be discussed all day but the overall summary have to be "you should know what you spend". I'm not saying that the banking system works well or that debits should appear instantly (only in an ideal world) but if you cannot control and be aware of what goes out of your own account then that's surely a problem with you and not the bank. The disscussion of whether what they charge is fair is a completely different debate. It's also been mentioned about how mucgh easier it was before cardsd etc when cheques were the main way of paying. Well if you find that true why not go back to usingthem and not cards they still work you know.

    I've read through the entire post as it's happened and while I concede Graham et al may be a little condescending most of their points are valid in my opinion. To call it theft is just wrong to me, but I'll no doubt get slated for saying that.
    LBM 2 - 27.05.09. Debt was £33224 + 1100:eek: OD.
    Car - was - [STRIKE]20867[/STRIKE] - now - Gone! :T Zopa - was [STRIKE]6800[/STRIKE] -now - Gone loan - was [STRIKE]1687 [/STRIKE]- now Gone! :T Student Loan - was [STRIKE]1850 [/STRIKE] - now gone!! - Barclay Card was -[STRIKE] £2000[/STRIKE] now - Gone OD - was 1100 - now - 900 :mad:
    Total - £0 :rotfl: + OD = 100% paid!!!
  • jo_ray
    jo_ray Posts: 80 Forumite
    true they do still exist, so what is the perpose of a multi function card ? why do they have card facilitys in news agents , petrol stations exc, you would never have paid with a cheque,would you? lets just say you have your view, i have mine carry, on doing the sums,i personally think if ,the bank can do better by us they should....of course they won't do better if we don't complain, coz they are too busy counting all the money they have got from charges caused by this system.
  • jo_ray
    jo_ray Posts: 80 Forumite
    cash was the ability to pay instantly and in person,cheque was the ability to pay from afar,remembering most people were paid by wage packet then, they would actually have to go to the bank to put the money in.thus no charges. the multi function card is the ability to pay any way you choose.replacing both, they can deduct payment instantly so why don't they
  • lindilou39
    lindilou39 Posts: 927 Forumite
    jo_ray wrote: »
    cash was the ability to pay instantly and in person,cheque was the ability to pay from afar,remembering most people were paid by wage packet then, they would actually have to go to the bank to put the money in.thus no charges. the multi function card is the ability to pay any way you choose.replacing both, they can deduct payment instantly so why don't they
    Good point Jo ray....as money moves 24hrs a day 7 days a week 365 days a year...there is no reason why and if you pay by cheque or card should it take 2-5 days depending on bank..transactions be it by cheque or card if authorised should clear in an instant.
  • jo_ray
    jo_ray Posts: 80 Forumite
    lindilou39 wrote: »
    Good point Jo ray....as money moves 24hrs a day 7 days a week 365 days a year...there is no reason why and if you pay by cheque or card should it take 2-5 days depending on bank..transactions be it by cheque or card if authorised should clear in an instant.

    i don,t know if you can automatically authorise cheques or not ,as i haven't much use for them, but they certainly can authorise your cards in an instant if they want to, yes money moves all the time , we know this from when we withdraw cash, the system updates, and the perchases that have been earmarked instantly.
  • I made out a cheque on my A&L account which would have made it overdrawn but by mistake I forgot to sign the cheque. Guess what ? they not only charged me a penalty of £34 but then it was re-presented 3 days later and charged me another £34.
  • jo_ray
    jo_ray Posts: 80 Forumite
    bogie_1411 wrote: »
    I made out a cheque on my A&L account which would have made it overdrawn but by mistake I forgot to sign the cheque. Guess what ? they not only charged me a penalty of £34 but then it was re-presented 3 days later and charged me another £34.

    ouch, sorry to hear that,not sure there is anything you can do about it either.
  • jo_ray wrote: »
    i don,t know if you can automatically authorise cheques or not ,as i haven't much use for them, but they certainly can authorise your cards in an instant if they want to, yes money moves all the time , we know this from when we withdraw cash, the system updates, and the perchases that have been earmarked instantly.
    sorry jo I meant if a cheque is once banked then it should be auto deducted..nationwide do this as soon as cheque is presented...but yes it does depend on the bearer as to when they bank it...
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    jo_ray wrote: »
    cash was the ability to pay instantly and in person,cheque was the ability to pay from afar,remembering most people were paid by wage packet then, they would actually have to go to the bank to put the money in.thus no charges. the multi function card is the ability to pay any way you choose.replacing both, they can deduct payment instantly so why don't they

    But your blaming the wrong person. The shops decide when to deduct payment, they decide when to send the run off, they decide when to press 'send'.

    It's not your bank. The bank just acts on the instruction when they get it. The key is 'when'.

    If your going to blame the banks for everything, at least educate yourself on how it works first.

    Some of this 'why should I' language is very poor. If you feel that way, carry on being charged, but shutup moaning.
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    surfcat wrote: »
    Gosh I'm so put out. You mean I should actually take some responsibility and take time out of reading Heat magazine to plan my finances? You're so anal Graham.

    Tell me about it. I feel positively saddistic!
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