Are tesco bank breaking the law?

Shakin_Steve

PeacefulWaters wrote: »

Page 4 is your guide.

https://www.tescobank.com/assets/sections/savings/pdf/tesco-instant-access-terms-and-conditions.pdf?_=cachebuster20072016

It is the law. Contract law.

I don't think the OP was asking about contract law, as I suspect you know. Still I suppose you could be right, if the OP wants to take them them to a civil court, as no criminal law has been broken.

Biggles

Tiexen wrote: »

Good news:

A new and quicker way of clearing cheques that uses 21st century technology is going to be introduced across the banking industry.

The new process will involve images of cheques being exchanged between the relevant banks and building societies rather than the paper cheques being physically moved around the country.

The clearing process will be speeded up as a result, with cheques clearing at the end of the next weekday after being paid in, as opposed to the six weekdays it currently takes

Well, that's old news actually but, in any event, how exactly does it help with the OP's question?

MarkFromCornwall

Tiexen wrote: »

The new process will involve images of cheques being exchanged between the relevant banks and building societies rather than the paper cheques being physically moved around the country.

I have a feeling that one or two of the banks and building societies that I use will implement this as follows:
Customer takes a photo of cheque (instant)
Customer posts photo of cheque to bank (2 days)
Bank promises to process photo within 10 working days (may be longer if there is a bank holiday).
Bank asks customer to visit branch with photo ID ...

bigadaj

Shakin_Steve wrote: »

I don't think the OP was asking about contract law, as I suspect you know. Still I suppose you could be right, if the OP wants to take them them to a civil court, as no criminal law has been broken.

What a bizarre response.

What do you think they expect, some executive to be hauled up in the old Bailey and sent down for x years?

This would simply be a breach of contract if determined by a court and damages would presumably be awarded to the claimant.

Shakin_Steve

bigadaj wrote: »

What a bizarre response.

What do you think they expect, some executive to be hauled up in the old Bailey and sent down for x years?

This would simply be a breach of contract if determined by a court and damages would presumably be awarded to the claimant.

It seems a perfectly reasonable response to me. You've either misunderstood or you've chosen to misunderstand. Funny no one else considered it bizarre until now. The OP obviously was asking about 'the law' and I said it wasn't against 'the law, not criminal law anyway.

societys_child

As far as I'm aware Tesco aren't part of some banking agreement which means they don't have meet the Easter Payments 'Law' (but usually do) so probably this cheque 'Law' doesn't apply either?



I'm just an innocent bystander . . . what do I know.

PeacefulWaters

societys_child wrote: »

As far as I'm aware Tesco aren't part of some banking agreement which means they don't have meet the Easter Payments 'Law' (but usually do) so probably this cheque 'Law' doesn't apply either?



I'm just an innocent bystander . . . what do I know.

The requirement for personal payments to reach the recipient account by close of business on the next bank working day is a legislative demand.

Shakin_Steve

PeacefulWaters wrote: »

The requirement for personal payments to reach the recipient account by close of business on the next bank working day is a legislative demand.

Does that mean it's 'the law'? If so, can you please show us this legislation. And..are we talking civil law or what? Does that mean, if a bank does not stick to it's T&C's, it's breaking anything other than the code of conduct or could someone actually sue?
Phew.....
Addendum: I'm not being argumentative or doubting you here, I'm just keen to see what laws actually apply.

Thrugelmir

sjmuk wrote: »

I've recently deposited a cheque into my tesco bank savings account,

How did you deposit the cheque into your account?

societys_child

PeacefulWaters wrote: »

The requirement for personal payments to reach the recipient account by close of business on the next bank working day is a legislative demand.

Which as I understand it, Tesco are not signed up to.