The Bank Charges Court Case… what’s it really like.' blog discussion

Former_MSE_Lawrence

This is the discussion to link on the back of Martin's 'Breaking The Bank Charges Court Case… what’s it really like.’ blog. Please read the blog first, as this discussion follows it.

Read Martin's 'The Bank Charges Court Case… what’s it really like.' Blog.

Click reply to discuss below.

Edinburghlass_2

Just incase Lawrence doesn't come back and link to Wendy's moment of fame, its here....

http://blog.moneysavingexpert.com/2008/01/29/the-bank-charges-court-case%e2%80%a6-what%e2%80%99s-it-really-like/

Alias_Omega

MSE_Lawrence wrote: »

Click reply to discuss below.

Where is the reply button.?

bookworm1363

However, I’m not sure I agree with his comment that the obvious way for banks to make a profit is through fees on overdrawn accounts.

Hmmm, they're really putting all their eggs in the "service" basket, aren't they? (well, not that they have much of a choice, of course!)

marilyn

Dont the banks make oodles of money just from taking a payment from an account on one day and that payment not appearing on the other account for three days? I do wages for five people each week - the money disappears from the firm's bank account on wednesday, but does not appear in the employees account until friday! Where is this money? Surely gaining interest for the banks?

bargainhunter90

I dont understand why HSBC charged me a few years ago (total charges) and I went into the bank one day to agree my first ever overdraft, gave me more than I expected but I didn't spend any extra then they just charge the interest. I'm claiming it back but doesn't make any sense. Why don't they look after their own customers than try and make money.

Horsetan

My very great fear is that if the banks lose, they will merely make use of the appeals process, thus prolonging the agony for affected customers. After all, the banks have the resources.

lucky1667

surely the service basket argument is irrelevant if the banking rules stipulate the bank charges can only equate to the costs incurred by banks... and not a profit making option..

i am not sure i understand the banks principle argument here can anyone explain??

chillout_ice

my biggest worry is the banks will get away with this due to the current financial turmoil thats going on,what with all the credit crunch and everything it wount help if all the major banks have to pay back the billions they have overcharged ppl,
i sincerly hope im wrong

Tripledrop

The big banks (like the big 4), aren't really feeling the credit crunch. Mainly affecting adverse lender, and those backed by the US

W_s_n

I don't understand their arguments..... but for some reason I can see it all going wrong for the banks.