Banks - Kick them while they're down

The Office of Fair Trading has won the test case regarding overdraft charges.

Get in.

 

How to claim back your charges

http://www.moneysavingexpert.com/reclaim/oft-bank-charges

Although - The bad news is that this will almost certainly end FREE Banking in the UK. (N)

 

The banks stopped accepting the claims from their customers because of this test case, I think. Not sure what will happen next though, I can't see them automatically paying people back what they owe them, they'll be contesting it at every turn no doubt.

 

Yep, but it's the only decision that could be made today and it's gone the right way.

 

So people who managed their finances will now have to pay bank charges to subsidise those that couldn't.........great!

 

"Couldn't" being the operative word.

My account was short 30p for two hours the other day, bank charged me £70.

 

If you've managed your finances well, the bank don't want you anyway EastStander. They think you're ****.

Have that.

 

Don't worry. The banks will soon find another Third World country to lend money to pay for arms or find another dictator to prop up. You'll be fine.

 

You're right. I thought I'd be able to decide what I would have for breakfast, but I couldn't. I had to have everything in a dish and on a plate. Coco pops, cornflakes, alpen, bacon, eggs, a cup of tea and orange juice all in and out of a sandwich. And I'm wearing all the clothes I own.

 

see

 

Excellent news

I think I was on about this with you and a few others ages ago.

Fact is the charges are a penalty clause and therefore illegal.

 

Funny isnt it. All those that think Banks are the mother of all evil, only think so when something goes wrong (that more often than not is cauded by the customer's lack of responsibility when it comes to managing their finances).

Yet, when suddenly it's time to move house, buy a new car, set up a direct debit, take out a business loan etc etc the customer can't speak highly enough of them.

All I can say is Caveat Emptor - and well done to the money grabbing chavs who invariably have ended the world of free banking at the expense of the good, honest customer who has never complained -and who has accepted full responsibility for their actions.

 

Its a business to consumer transaction, I don't understand what caveat emptor has to do with it. I would have thought consumers are entitled to added protection due to the imbalance between the contracting parties?

 

Yes, we should definitely not challenge corporations who practically steal money illegally from their customers.

FFS get some perspective. I've no objection to people making money and lots of it, but there is absolutely no need to stop multi-national corporations who have been reporting billions of pounds profit year on year being questioned about questionable activity. Long may it continue.

We don't have a choice whether or not we use banks, the system and economy has dictated that.

 

Forgetting whether the amount of the charge is justified or not (that's a seperate issue), the real question is 'Did the Bank inform the customer of what would happen and how much they would be charged if they did not comply with the account's terms and conditions. The answer is Yes. The customer could therefore take his business elsewhere if he didn't like what he saw.

That many customers can't be bothered to read the small print or don't question accounts when they are being opened is irrelevant. Caveat Emptor.

Any business - in theory - can charge what it likes for its service. You only need to consider a Solicitor for proof of 'making money for old rope'.

As regards people not having a choice but to use a bank then that's nonsense. A consumer item obsessed society has no choice agreed. However, if people were prepared to rent rather than buy houses, cars etc then they do have a choice. If people were prepared to save rather than take credit then they do have a choice. Need I go on!

 

so how many employers in the modern day pay wages in cash?

 

You're a loon!

No further discussion needed.

 

Okay dokey.

So we don't need to use banks as much. yes ?</p>

Weekly pay packet in cash I take it ?</p>

Stuff your money under your mattress ?</p>

Decide not to buy so pay rent in cash ?</p>

Want to buy, ooh let's see a car. Wandering the streets with a few hundred quid in your pocket then whilst you shop around ?</p>

So I assume then you won't buy owt over the internet and use your debit card ? How do you pay for your internet access btw ? Send Tiscali or whoever an envelope with cash every month ?</p>

 

He works for one.