Bank Charges - The Court Case

[Sylar]

Not looking to start another discussion/argument on the moral rights or wrongs or bank charges, but thought some of you would be interested to know that the ruling decision on the legality of bank charges has been delayed until 2009.

Given the current financial climate with rights issues etc., I think it gives a good indication as to what the outcome will be.

Free-banking won't be around for much longer :brickwall

[rainman]

Not looking to start another discussion/argument on the moral rights or wrongs or bank charges, but thought some of you would be interested to know that the ruling decision on the legality of bank charges has been delayed until 2009.

Given the current financial climate with rights issues etc., I think it gives a good indication as to what the outcome will be.

Free-banking won't be around for much longer :brickwall

I'm glad i got in before the rush.

My refunded charges funded my flights and first couple months living in Australia. :thumbsup:

[scott7_0(Prague)]

Not looking to start another discussion/argument on the moral rights or wrongs or bank charges, but thought some of you would be interested to know that the ruling decision on the legality of bank charges has been delayed until 2009.

Given the current financial climate with rights issues etc., I think it gives a good indication as to what the outcome will be.

Free-banking won't be around for much longer :brickwall

We pay monthly fees for everything here in CZ,

For putting money in,
For taking money out,
For using internet banking,
For direct debits,
For having a super dooper debit card that allows you to use it on the internet :brickwall
For farting in the casher queue,
For looking at the security guard the wrong way

bloody does my head in,

[Rep of Ireland Hibee]

We pay monthly fees for everything here in CZ,

For putting money in,
For taking money out,
For using internet banking,
For direct debits,
For having a super dooper debit card that allows you to use it on the internet :brickwall
For farting in the casher queue,
For looking at the security guard the wrong way

bloody does my head in,



Agree. I'm with UniCredit Bank here and get charged 30kc for withdrwaing money at a cash machine. Thats over a pound :brickwall

[Wembley67]

Agree. I'm with UniCredit Bank here and get charged 30kc for withdrwaing money at a cash machine. Thats over a pound :brickwall

That's nowt I got charged £5 at some pub in george street for withdrawing money :grr:

I think it was George Street anyway :confused:

[scott7_0(Prague)]

That's nowt I got charged £5 at some pub in george street for withdrawing money :grr:

I think it was George Street anyway :confused:

Fair enough, but ROI and I are talking about using our providers ATM in there premises and still getting charged!

[Rep of Ireland Hibee]

Fair enough, but RIP and I are talking about using our providers ATM in there premises and still getting charged!



Who's RIP :wink:

[Wembley67]

Fair enough, but RIP and I are talking about using our providers ATM in there premises and still getting charged!

Thats is a bit OTT :agree:

[scott7_0(Prague)]

Who's RIP :wink:

Sorry thought your were dead, no seen you for a while..... :thumbsup:

[Andy74]

Actually, a decision from the courst on 'phase 2' of the case is expected in september, and may actually be before then.

The FSA though, have extended the waiver in dealing with the existing claims for another six months.

[Moulin Yarns]

I found this today

http://news.scotsman.com/uk/500-charge-for-overdraft-of.4309951.jp

try telling anybody that banks are not trying to profit from others misfortune!

[Andy74]

I found this today

http://news.scotsman.com/uk/500-charge-for-overdraft-of.4309951.jp

try telling anybody that banks are not trying to profit from others misfortune!

However, in the full report that appeared in some better papers:

"The charges that Miss Gibson has incurred are not for a one off unplanned overdraft position of 8p. They relate to an unplanned overdraft of varying amounts dating back to September 2007"

We do get free banking if we stay within agreed limits - the level of the charges is of course up for debate but the simple answer is to use money that you have, not money that isn't yours and to discuss any potential issues with your bank so that they can authorise further borrowing.

[Sylar]

However, in the full report that appeared in some better papers:

"The charges that Miss Gibson has incurred are not for a one off unplanned overdraft position of 8p. They relate to an unplanned overdraft of varying amounts dating back to September 2007"

We do get free banking if we stay within agreed limits - the level of the charges is of course up for debate but the simple answer is to use money that you have, not money that isn't yours and to discuss any potential issues with your bank so that they can authorise further borrowing.

Amen :agree:

[The doomed]

That's nowt I got charged £5 at some pub in george street for withdrawing money :grr:

I think it was George Street anyway :confused:

seriously? £5?

[GreenandGlaikit]

Not looking to start another discussion/argument on the moral rights or wrongs or bank charges, but thought some of you would be interested to know that the ruling decision on the legality of bank charges has been delayed until 2009.

Given the current financial climate with rights issues etc., I think it gives a good indication as to what the outcome will be.

Free-banking won't be around for much longer :brickwall

It's never been "free". The differences between the interest rate Banks charge against Loans and the criminally paltry interest rates they pay when Current Accounts are in credit confirm that this is the case.

[Sylar]

I've NEVER had to pay for a debit card, statement, cash withdrawal, chequebook, online access to my account, withdrawal of cash abroad, interest fees or charges. Please tell me where i'm paying something as i've never felt like i'm losing out.

I don't care much about the interest rates on my current account - it gains me something at the end of the month, and that's about the height of it.

The difference in interest rates is only to be expected - banks are a business at the end of the day - unlike charges, the interest rates aren't really "out of order" to quote half the British public.

[GreenandGlaikit]

I've NEVER had to pay for a debit card, statement, cash withdrawal, chequebook, online access to my account, withdrawal of cash abroad, interest fees or charges. Please tell me where i'm paying something as i've never felt like i'm losing out.

I don't care much about the interest rates on my current account - it gains me something at the end of the month, and that's about the height of it.

The difference in interest rates is only to be expected - banks are a business at the end of the day - unlike charges, the interest rates aren't really "out of order" to quote half the British public.

It's the difference between implicit and explicit charges. That yer happy paying through implicit charges is fine , however, saying that because some Banks & Building Societies never explicitly charge that their somehow providing a "free" or altruistic public service is misleading.

Nae idea how big the average Current Account is, though its clear that each £1000 it contains might easily earn an extra £70 P.A. elsewhere. That is an implicit payment fir the services which the Bank provides.

Where we agree is in resisting Banks additionally introducing standard explicit fees - that is taking the pish. Will simply move ma money if that's ever attempted - an extremely easy task these days where Online Banking and Bill payment services proliferate.:thumbsup:

[The cooler king]

Am putting in a claim for a 4 figure sum.
Apparantly going through the FOS rather than courts makes for a quicker response and settlement.

[passionatehibby]

Am putting in a claim for a 4 figure sum.
Apparantly going through the FOS rather than courts makes for a quicker response and settlement.

Just wondering what kinda charges i could claim for, and also how far can u take your claim back ???

I get charged one pound fifty - to two pounds for every withdrawl i make over here because my money is still in the uk . I also get charged every time i used my debit card for transactions . :bitchy:

Any advice appreciated thanks .

[Wembley67]

Just wondering what kinda charges i could claim for, and also how far can u take your claim back ???

I get charged one pound fifty - to two pounds for every withdrawl i make over here because my money is still in the uk . I also get charged every time i used my debit card for transactions . :bitchy:

Any advice appreciated thanks .

Doubt you could claim for these kind of charges.

Why don't you set up an account in whatever country your in to stop charges :dunno:

[givescotlandfreedom]

Is it true that banks will black list you if you try to reclaim charges meaning you'll have trouble opening a new account or getting a loan, mortgage etc? Also would the customer need to provide documents relating to charges or would the bank have to give these from its own records?

[JoeT]

Is it true that banks will black list you if you try to reclaim charges meaning you'll have trouble opening a new account or getting a loan, mortgage etc? Also would the customer need to provide documents relating to charges or would the bank have to give these from its own records?

I doubt the black list threat is true.

They are legally obliged to give you your data for last 6 years - just ask them

[JoeT]

Am putting in a claim for a 4 figure sum.
Apparantly going through the FOS rather than courts makes for a quicker response and settlement.

How bad do you run your accounts?

4 figure sum - even at £30 a charge you are looking at a minimum of 34 charges - madness......

[Speedy]

How bad do you run your accounts?

4 figure sum - even at £30 a charge you are looking at a minimum of 34 charges - madness......

The thing is if you are overdrawn £10 and you don't have the money to pay that they then charge you £30-£40 for every time someone tries to take money from your account. It quickly mounts up and if you can't afford a tenner then you're going to struggle to pay the extra charges.

It happened to my flatmate recently. He was overdrawn by about a fiver then got charged £38.99 everytime his phone company tried to take out his phone bill. It got to about £130 and I gave him money to clear it.

I think he got a letter saying he's getting the money back though.

[The cooler king]

Is it true that banks will black list you if you try to reclaim charges meaning you'll have trouble opening a new account or getting a loan, mortgage etc? Also would the customer need to provide documents relating to charges or would the bank have to give these from its own records?

Opened up a new account with another bank first, and transferred all DD/SO.
Now its up and running am now proceeding with recovering charges.
Data is stored for 5yrs in scotland, 6 in England.

[The cooler king]

The thing is if you are overdrawn £10 and you don't have the money to pay that they then charge you £30-£40 for every time someone tries to take money from your account. It quickly mounts up and if you can't afford a tenner then you're going to struggle to pay the extra charges.

It happened to my flatmate recently. He was overdrawn by about a fiver then got charged £38.99 everytime his phone company tried to take out his phone bill. It got to about £130 and I gave him money to clear it.

I think he got a letter saying he's getting the money back though.

Aye, got stung for £170 in one month.:brickwall
All the charges were in one letter......Robbin B*rds!

[Lucius Apuleius]

Stay in the black and out of the red.

[Edinburghlass]

Banks cannot place any information which is prejudicial to you to third party credit reference agencies should you pursue recovery of penalty charges (plus interest). However, when applying for credit with an organisation, they can review previous account conduct with them to assess your credit worthiness. The recovery of charges may be something they choose to consider as well as the conduct of your account which led to those charges acruing in the first place.

The charges on my account all accrued when I was out of work to look after my terminally ill father and had no income as it took roughly 5 months before the Benefits Agency decided I was a genuine case for support. After he died, I had to spend another year or so sorting out the financial mess. Given the damage to my credit record as a result of this time, it will stay with me for another 6 years (which is now down to 4 with the passage of time since).

I'd do it all again too if I had to.

[MagicSwirlingShip]

Just got back from holiday with over a hundered pounds worth of charges into my account. Can one of you guys tell me the best way to try and reclaim these?

[Danderhall Hibs]

Stay in the black and out of the red.

:agree:You get nothing in this game for 2 in the bed.


Just got back from holiday with over a hundered pounds worth of charges into my account. Can one of you guys tell me the best way to try and reclaim these?

I'd start by thinking up a reason/excuse for this happeningthen phoning my Branch. Try "I asked you to increase my overdraft before I went on holiday but I've just got back and see that it wasn't processed and you've now charged me for YOUR error." I reckon they'l lrefund you right away as long as you're not a persistent offender.

Let us know how you get on.

[Mike777]

The thing is if you are overdrawn £10 and you don't have the money to pay that they then charge you £30-£40 for every time someone tries to take money from your account. It quickly mounts up and if you can't afford a tenner then you're going to struggle to pay the extra charges.

It happened to my flatmate recently. He was overdrawn by about a fiver then got charged £38.99 everytime his phone company tried to take out his phone bill. It got to about £130 and I gave him money to clear it.

I think he got a letter saying he's getting the money back though.

Hay mate
i am currently in the same boat, last month i managed to gather 4 penaltys all at £35 each, and they will not do anything about it, this was because of my overdraft, and o2,tesco trying to take money out,
im going to phone them today, but do you have any advice on what i should do or say,
i have gotten to the point where i would be happy to chuck my account with the bank of scotland, as £140 is two working class days for me....