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Chit Chat
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25 Nov 09
08:47
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05 Apr 06
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http://www.moneysavingexpert.com/news/reclaim/2009/11/bank-charges-result-at-945am-wednesday
I am ahead of ^^^^ Get your future financial news from The Leopard... |
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Martin Lewis seething.
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On now News 24 bbc
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He's not happy...
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**
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Not surprised , the judiciary i this country are a disgrace ,common sense rarely implemented.
I`m no working class hero,but we are still a country run by the `establishment`, which sometimes takes the p1ss |
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It is a business. They don't charge for keeping the working mans money safe until you withdraw it anywhere in the country free of charge. Stay in your limit and you don't pay, it's easy.
And I say that as someone who pays loads out in charges |
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MoneySavingExpert.com will take time to fully consider this decision before announcing the next move in helping reunite consumers with their cash. - Guy Anker.
Gee thanks Mr Anker what would we do without you. |
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I guess if it says that you can randomly go overdrawn and pay a £20 fee and you then go and do it then you really have to pay it. Next you'll have to pay for your latte in Starbucks!
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What I don't understand is why banks allow a customer to go overdrawn. Why don't they just decline anything that would take an account overdrawn?
Am I missing something? |
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Yes the £35 fee they get.
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Yes redrich, because then they'd be even more evil for not randomly lending money to people who have none.
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They used to refuse any payments if you went overdrawn, but they make extra £billions by charging a fee and letting everyone's DDs and payments go through
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A victory for common sense.
Why should I, and millions of other sensible people pay for the recklessness of others? |
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Absolutely. In fact, they should actually charge you for withdrawing money from a machine too, but am glad they don't. Thank you
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The monies in question, which would total somewhere around £2.1 billion are a pale comparison to the amount of monies which we have paid to the banks to bail them out over the past couple of years.
I really reject the line above "why should we pay for other people who have gone overdrawn etc etc etc" as it is totally missing the point. The point is the charges are unfair, YOU would not be paying the charges, the banks would be paying back peoples own money, not yours. The point of the challenge was because the charges are being levied at anything between £20-£50 for going overdrawn/rejecting a DD etc. The actual cost, which most people would not object to paying if this happened would be somewhere around the £1.00 mark....not £36. |
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and its not just that.. if you go even 1p overdrawn.. you get smacked with an unauthorised transaction charge of £35, and an unauthorised overdraft fee of £28.. so thats actually a charge of £63 (for my bank who are changing to £1 a day overdraft now ffs going to cost me extra each month bunch of**s )
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i posted this on another fred.
----------- a couple of christmas ago, ms wolsey bought some stuff on ebay, using paypal. i hadnt changed the default card over, so she used the halifax 1 (which had no money in it). it was our error - i dont deny it. she made 4 transactions, the most was about 15, quid, the cheapest was 4 quid - she probably spent between 35 quid. how much did it cost me in charges? 4 x 39 for halifax to pay them 1 x 29 for unauthorised od fee. to spend that 35 quid cost me 185 pound. thats where its wrong. we made the error - we admit that. but 185 quid???? and when i went in over christmas to query that, the charm skool dropout basically told me 'tough'. as i was having a row with this piece of trash, another bloke walks in with his girlfriend and they are obviously in town to do some sales shopping. he has gone to the cash machine and seen that he has sufferred a similar fate, as his works cq has cleared a couple of days later than normal, because of the christmas hols, and halifax have paid his mortgage and other DD's, but charged him 39 per payment and the 29 unauthorised OD fee. just so u can get the idea of how much 185 quid is. the average wage is around 19k pa. thats approx 400 per week, before tax. so the take home on 400 would be approx 330-350 (im guessing) which = 65-70 per day. so do u think that the average man in the steet should have to do more than half a days work to cover 1 halifax charge? the thing is these charges are being put on people who cant afford it. 39 pound to some people is a lot of money. im fortunate that i can tell the bank to go feck themselves, pay off what i owe and move. how many low income families have that choice? -------------------- people will say 'its yr fault' and 'why should we subsidise yr errors?' but lets get this straight. it was an error. they didnt have to pay those paypal payments, paypal went for authorisation and halifax said ok - they did because they would cop 39 quid a time. hopefully, all of u who say that the banks are right can see the difference between charging 2-10 quid a time, which is fair and reasonable, and 39 quid a pop, which is taking the facking P155 and is little short of theft. |
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A victory for common sense.
Why should I, and millions of other sensible people pay for the recklessness of others? Why should the few, who perhaps accidentally go overdrawn or have financial hardship that means they have to go overdrawn, pay for the millions of so called 'sensible people' to have free banking? |
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unauthorised
We're missing the point? And also, no bank account is free. What do you think they are doing with your money while they have it. Investing and lending it at higher rates of interest than they pay you back. They are taking your "assets" and generating a tasty profit out of them - and giving you a small slice of the pie for the privilege But you pay it because its better than keeping it under the mattress or trading in goats. Its not a free service. |
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exactly redrich, someone pointed this out on another site
"Lord Phillips also noted that in the absence of the charges the banks would not be able profitably to provide current account services without a fee (Para 88). He stated that it might be open to question whether it is fair to subsidise some customers whose accounts always remain in credit by levies on others who experienced events they did not foresee when they opened their accounts (Para 80)." so its basically saying the people who get bank charges are paying for those who get free banking |
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Speaking as a keeper of goats I am most offended...
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So... change your habits and stop taking what you haven't got and you can join us and have free banking.
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redrich 25 Nov 10:40
As has been pointed out it's not free and they don't pay for sensible people. |
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^^^^^^
You just don't get it at all do you. |
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That was directed to "Greeny"
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I was reckless in my youth and rightfully paid the price.
I learnt my lesson and haven't paid a penny in interest or charges in 5 years. Why do people expect a free ride? |
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isnt that what you are expecting?
people who pay charges, to give you a free ride? |
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I don't get it, no. If you actually talk to the bank and arrange a loan over a period it's cheaper than the ostrich approach of just taking it out of the wall.
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My bank earns interest from me every month.
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clearly not enough if they cant operate without bank charges
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So...... in the Andy Murray fantasy world, no-one pays any charges and everybody lives happily ever after, drowning in debt.
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Andy Murray 25 Nov 10:57
clearly not enough if they cant operate without bank charges Exactly why they charge. |
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Nobody is exepcting a free ride, people accept that they may have to pay charges but it is the level of charges that are unfair as Mr Wolsley pointed out.
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why should we pay unfair charges? the charges are what is causing a lot of people problems. you think going 1p overdrawn and getting charged £63 is fair?
if the charges weren't there people would be able to get out of debt quicker.. we get charged interest on the overdrawn balance, fair enough, no need for the additional fees |
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Or do you think only sensible people should pay charges and reckless ones should get a refund and not pay any more charges?
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Exactly Goring, which is why its unfair that those people should pay for "good peoples" free banking
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i think everyone should pay the same.. the banks charge interest on debit balances... high interest.. so its not like we are borrowing money for free anyway
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You know the rules and the consequences of breaking them.
Anyway, must dash, I'm off down the bank. |