Halifax - EasyCash forced upgrade - where to now?
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Consumerist wrote: »The question(s) are:
Still unanswered.
Like yourself, I do tire of reading all the ignorant drivel on these forums making pitiful excuses for banking practices.
Yes, I have answered you, but you don't like the answer.
I cannot begin to express just how tedious talking to you is. Nonetheless, as you clearly have the bit between your teeth over the evil banks then I will indulge you one more time (even though you haven't provided a shred of evidence to support your ludicrous conspiracy theories).Consumerist wrote: »Why won't banks generally allow customers to open accounts which simply will not make payments if there is not enough money in the account to fund them?
Firstly, I am not a representative of any banks or the British Bankers' Association, so my comments are merely my own views and I cannot give you a definitive answer.
Customers are responsible for managing their own finances and should not spend more than they have if they wish to avoid charges. The banks actually help customers by honouring direct debit payments that would otherwise bounce. If they didn't do this then the customer would face a late payment fee and potential harm to their credit file. The banks make it perfectly clear that this is how they will operate the account and customers sign up to those terms. Of course, a customer is perfectly free to cancel a direct debit at any point, and could do so if they knew that they lacked the necessary funds to honour it. This is an area in which the customer has full control, and blaming the banks for customers managing their finances poorly is ridiculous.Consumerist wrote: »Why are banks refusing to open "basic" current accounts unless they feel they are constrained by regulation or codes of practice to do so?
Why should they? I've already explained to you that they are a business and they are free to offer the kinds of products that they choose. Basic bank accounts were brought in as way of ensuring that people who could not otherwise get a current account would have access to one. They are not, and never were, intended as an option for everyone. Funnily enough, the banks do actually need to make money, or else they go out of business. That does mean that banks will make money from overdrafts, but it is perfectly possible to apply for an arranged overdraft, which comes with lower costs than an unarranged overdraft. You pay more for unarranged overdrafts because you have taken the liberty of expecting the bank to honour your transactions using their money, without having asked their permission first.
I know that you won't like these answers, but that's life. I still maintain that your diatribe was ludicrous and ill-informed, and you still haven't given any supporting evidence of an apparent conspiracy amongst banks.0 -
Consumerist wrote: »Don't become ill or die with a standard bank account.
What on earth do you mean by that?0 -
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ValiantSon wrote: »:eek:
Don't set him off again!
Oh no, I'm sorry, I posted that without reading to the end of the thread! :mad:
Is there a delete button?!0 -
Oh no, I'm sorry, I posted that without reading to the end of the thread! :mad:
Is there a delete button?!
There is, but don't worry about it. I was only joking.
(For future reference, if you do want to delete something, then click "Edit" and there is an option there to delete the post).0 -
I'll make sure I read to the end of the thread in future!0
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That escalated quickly....
Thanks for all the replies.
Just to set this straight, it is not about going overdrawn, I only have one fixed Direct Debit, I manage everything else myself. I am in the position where I live within my means, so there is always extra cash in the account, which I generally save and then splurge on something when I can afford it. (yeah I know I should save it...)
I don't feel the need to set up multiple Direct debits for things I would rather do myself, irrelivent of the tiny £ they offer for doing so. And I should not have to consent to products and services I, (A) do not need, and (B) do not want.
After a quick chat to someone from the F.O.S. I should not have too, as they stated to me they should be available to people who do not qualify for standard current accounts, and those people who do not feel comfitable or compitent enough to run a standard account. (as the whole point of these accounts is to not exclude anyone from basic banking facilaties for any reason).
So I filled in my FOS-complaints form and copied in Halifax CS in my reply.
I shall wait, and see what happens next....0 -
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After a quick chat to someone from the F.O.S. I should not have too, as they stated to me they should be available to people who do not qualify for standard current accounts, and those people who do not feel comfitable or compitent enough to run a standard account. (as the whole point of these accounts is to not exclude anyone from basic banking facilaties for any reason).
So I filled in my FOS-complaints form and copied in Halifax CS in my reply.
I shall wait, and see what happens next....
Don't hold your breath. The FOS don't make the rules, they just ensure that banks apply them fairly.
The Payment Accounts Regulations 2015 state that to be eligible for a basic bank account you must not hold another account with payment features (i.e. any other current account) and you must be ineligible for any other current accounts:
http://www.legislation.gov.uk/uksi/2015/2038/pdfs/uksi_20152038_en.pdf
Eligibility criteria
(1) In order to be eligible for a payment account with basic features offered by a designated credit institution ("B"), a consumer must be legally resident in the European Union, and must either-
(a) not hold a payment account with any United Kingdom credit institution that has at least the features set out in regulation 19(1); or
(b) be ineligible for all payment accounts offered by B that are not payment accounts with basic features.
There's nothing in the regulations to cover customers who aren't comfortable with an ordinary current account, so the FOS has no authority to insist that banks provide them for such people.0
Warning: In the kingdom of the blind, the one-eyed man is king.
This discussion has been closed.
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