What happens if I tell the bank I don't accept the account T&Cs

family4tunes

camelot1971 wrote: »

Yes, you are still bound by the contract. No, you can't get out of paying your debts. No, you won't get any compo. Yes, they will just close your account but you still have to pay. HTH

Totally agree with the reply to this post! :beer:

colsten

masonic wrote: »

I've just thought of another example, this time relating to bank accounts: at least 2 banks I'm aware of allowed multiple accounts to be opened initially, then changed their terms to restrict the number to one sole and one joint. They allowed those who opened more accounts than that under the older terms to keep them.

This is indeed the case, and I have several of such [current] accounts myself. But I have seen no evidence that any of this is due to one or more individuals objecting to the changed terms.

Regarding exit fees etc on investments: this is also true, and again, I have benefited myself from 'side deals' when a platform changed its terms. I would be very surprised if the OP had investments in mind when they asked their question about "the bank", on this board, rather than on the Savings & Investments one. Mind you, looking at their posting history, they appear to have some experience with investments. I agree with societys child - we have only half the story, and the OP should come back to tell us what happened when they told 'the bank' they would, effectively, continue to use the old T&Cs.

soulsaver

masonic wrote: »

I've just thought of another example, this time relating to bank accounts: at least 2 banks I'm aware of allowed multiple accounts to be opened initially, then changed their terms to restrict the number to one sole and one joint. They allowed those who opened more accounts than that under the older terms to keep them.

And there have been cases where the words relating to the switching terms have been successfully challenged and payouts in line with an alternate interpretation achieved by those who progressed a complaint.