Banks raising charges on payable accounts

jonesMUFCforever

YorkshireBoy wrote: »

I only go back as far as having to keep £50 in the account to enjoy 'free banking' - around 1979/80 as I recall (but could have been a little later?) - with Yorkshire Bank.

Can't remember what the 'penalty' was for not doing so though.

Wasn't it the shooting squad? :T

YorkshireBoy

jonesMUFCforever wrote: »

Wasn't it the shooting squad? :T

No, because that *would* be illegal/unlawful/not right/unfair*.


* Delete as necessary.

Bismarck

YorkshireBoy wrote: »

I only go back as far as having to keep £50 in the account to enjoy 'free banking' - around 1979/80 as I recall (but could have been a little later?) - with Yorkshire Bank.

Can't remember what the 'penalty' was for not doing so though.

You people are like a trip down memory lane..I can remember the old ads now, bragging about free banking....."we never had it so good..."

I had free business banking for the first 3 years of our small business and it hurts now we have to pay charges for everything!

ALIBOBSY

Given the governments push on direct payments and basic bank accounts for all, I believe they would come down very hard on any banks trying to charge for these basic accounts. I for one am very happy with mine, I don't need a cheque book, my solo card is handy although I mostly use cash and I never ever want anouther overdraft.

The banks have always ramped up the charges on these "extras" accounts. As one of the articles said "it was the first increase for 2 yrs" wow what a long time not! The banks are being squeezed (mostly by their own doing for previous greed) and will use any excuse to claw back cash from customers.

They have been trying to end free banking for years, well before the charges issue came to light. Look at the hoo ha over them trying to introduce ATM charges a few years ago.
If they think that the charges issue will enable them to sneak through extra charges they will shamelessly use it.

ali x

oldagetraveller

LittleVoice wrote: »

Who remembers when we did pay for our cheque books?






.

Yes, and for each Direct Debit, standing order, cheque presentation etc. Then it became "free" for above zero balances.
Mr Lewis and his cohorts can be blamed for all these new charges etc. being introduced for those who are able to manage their finances!

Paul_Herring

Mr Lewis and his cohorts can be blamed for all these new charges etc. being introduced for those who are able to manage their finances!

Rubbish. You lay no blame on the majority of people who can't manage their finances with no good excuse.

ShelfStacker_3

oldagetraveller wrote: »

Yes, and for each Direct Debit, standing order, cheque presentation etc. Then it became "free" for above zero balances.
Mr Lewis and his cohorts can be blamed for all these new charges etc. being introduced for those who are able to manage their finances!

I don't know about blaming Martin, he certainly wasn't the first to advocate reclaiming charges. If you want to blame anyone, blame the OFT for the court case... and the charges are definitely too high.

I agree with Mr Herring. If you don't want overdraft charges, don't go over your limit. It's trivial these days to check your bank balance, and frankly people would scream bloody murder if the banks just took random amounts of money out of their accounts at will without informing them first (and rightly so) - which is functionally no different from what you've done if you've gone over your limit.

PROLIANT

Keeps us on our toes but some people just dont like using their brain.

LilacPixie

I can remember a time when halifax used to charge you 60p per cash withdrawal if you didn't use their machines.

Personally I don't think the bank reclaim has caused this I think greedy banks have. They always look for ways to make more money so I think it was bound to happen sooner or later.