Bank Charges case lost

#2
Any cost's from paying back charges will end up being passed to the customer they always do.And banks will probably put in stricter lending measures making it harder for people to get credit. So the majority will suffer because of mongs being unable to manage thier finances
 
#3
They'll find a way to screw us, it'll be monthly charges for having an account next.
 
#4
I think they've already tightened their lending criteria, and 'free' banking isn't really - unless you have a significant positive balance.

This is not about people being unable to manage their finances; it's about financial institutions acting unlawfully, penalising people when they have problems (such as bereavement, redundancy and so on), and then compounding the problem to unjustly enrich themselves.

The financial industry has had things its own way for far too long.

This is just the start; the banks may well appeal, and even if they don't the OFT will have to determine what is fair or not, and this could take ages.
 
#5
"Further High Court hearings are now expected to decide the exact level of charges, leading to further delays for hundreds of thousands of claimants."


In away it good they lost but who knows if we'll ever bank for free again?
 
#6
This is not about people being unable to manage their finances; it's about financial institutions acting unlawfully, penalising people when they have problems
Have to disagree here for every genuine case there is 3 more who cant and wont get a grip of thier spending. There are people who just keep maxing out cards and extending overdrafts and then decide not to pay up or cancel all thier direct debits except for sky t.v . Banks are'nt just to blame there is also personal responibility which is becoming an alien concept in society today. Rant over
 
#7
Banks are'nt just to blame there is also personal responibility which is becoming an alien concept in society today.

Once my son went to Uni, I lost complete control over what he did and ended sweeping up after his latest dalliance with this or that bank account that he'd opened, run up an overdraught then found that the bank, very unreasonably, wanted their money back. Last Sunday, after he'd finally got himself a bank loan at a high rate of interest to pay off all his other debts, I sat him down and said to him:
1. Firstly, pay off that credit card I told you not to take out and cut it into little pieces,
2. Pay off that second account you opened with another bank and close it,
3. Go and see the doctor and get a hearing test.
Why's that, he said. Because you don't listen to a fcuking word I say!
 
#8
mnairb said:
3. Go and see the doctor and get a hearing test.
Why's that, he said. Because you don't listen to a fcuking word I say!
:lol: :lol: :lol: :lol: :lol: :lol: :lol:

I must remember that one for use with my sprog!

Rodney2q
 
#9
Whilst I agree that there are a lot of people who have only themselves to blame for bank charges, I ask you to consider my wifes case against the banks.
The wife has a part time job, brings in about £350 paid monthly-her account is used for a few certain bills, such as utillities, and leaves a few quid in for school trips, vets bills, that sort of thing.

Early last May, my wife writes out a cheque for £12 for my sons school trip, there is more than enough in her account to cover this.
8 weeks later, we are in Spain, she's emptied her account for our San Miguel tokens, but she knows that the family allowance and a small pension will go in whilst we are away to cover the bills that will want paying.
On our return, we are greeted with a stack of letters telling her she is overdrawn (unauthorised) by over 2 hundred quid and they have not paid any of the direct debits that are usually paid.
Turns out that the school didn't put the cheque in for over 7 weeks, and my wife didn't realise it had not gone out.
The cheque bounces (by 3quid!!) and the bank charge her straight away 40 quid-puts her into an unauthorised overdraft, another 35 quid.
Account is now 66 quid in the red.
Next day, 60 quid pension goes in-still 6 quid down, but add another tenner, as it's another day of an unauthorised over draft -16 quid.
Next day, another tenner, plus a DD for 25 quid goes unpaid- another 40 charge- still 66 over drawn.
This happened for a period of 4 days, and by the end of it, she was £270 overdrawn, no bills had been paid, and most of her wages for the month were swallowed up in charges after they had put interest and other charges on.
My wife was at fault for not keeping an eye on that £12 cheque, but were the bank really justified in taking most of her wages and not paying any bills for what would have been a 3 quid overdraft for 1 day?

She phones the bank, but they are having none of it, just point to their "Terms and Conditions". The real problem was their practice of charging immediately for the bounced cheque- their charge put her overdrawn, and further charges coumpounded the problem. Needless to say, she don't bank there anymore!

Rick
 
#10
But for those with claims in the pipeline, it is down to individual District Judges if they want to make a ruling before the High Court has determined what the charges should be, I have a claim in at the moment from when I was our in Iraq, at the moment there is a stay on the proceedings pending the result of this case, there is nothing to stop me applying to lift the stay and pursue the claim.
 
#11
joey_deacons_lad said:
This is not about people being unable to manage their finances; it's about financial institutions acting unlawfully, penalising people when they have problems
Have to disagree here for every genuine case there is 3 more who cant and wont get a grip of thier spending. There are people who just keep maxing out cards and extending overdrafts and then decide not to pay up or cancel all thier direct debits except for sky t.v . Banks are'nt just to blame there is also personal responibility which is becoming an alien concept in society today. Rant over
I suspect you've plucked your figures out of the air (are you a ZANU New Labour minister? :D )

I take the point that there are some people who are irresponsible with money, and that some people seek always to place the blame elsewhere, but I think they are the minority of those who find themselves having problems that are then compounded by the banks. On the other hand, irresponsible lending has been a major feature of the UK financial sector until recently - so to an extent it's six of one and half a dozen of the other.

As an illustration of the arrogance of the financial sector, take a look at any of the consumer forums, and read about how the banks and credit card companies were so sure of their infallibility that they didn't bother making sure their credit agreements complied with the law - and how they're wriggling now it's come back to bite them.
 
#12
joey_deacons_lad said:
Any cost's from paying back charges will end up being passed to the customer
the money is already the customers, wrongly taken by evil bankers, the banks will have earned a nice bit of interest on the millions they were 'holding' for the customers already. But this will of course have already been dished out as dividends to share holders, so will they go the same way as the German banks and nail us with bank charges for letting them use our money for their investments?
 
#13
so will they go the same way as the German banks and nail us with bank charges for letting them use our money for their investments?
Very likley and expect them to have something new in place to use against anybody going overdrawn such as calling them fines not admin charges.
take a look at any of the consumer forums,
Are they the same ones who give often wrong advice about dodging paying debts dont get me started on them :x
 

TheIronDuke

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Book Reviewer
#14
Filbert Fox said:
joey_deacons_lad said:
Any cost's from paying back charges will end up being passed to the customer
the money is already the customers, wrongly taken by evil bankers, the banks will have earned a nice bit of interest on the millions they were 'holding' for the customers already. But this will of course have already been dished out as dividends to share holders, so will they go the same way as the German banks and nail us with bank charges for letting them use our money for their investments?
Then hopefully we'll see Credit Unions gaining ground. Poor banks. They must really miss the years when they announced obscene profits?

Two alarming facts that came my way today.

On Radio 4 - Our credit debt exceeds our GNP

And 37% of UK citizens cant get prime finance to buy a car. So they have to go for our old chum Sub Prime. Or 'kneecapper finance' as its known in the business
 
#15
Rick_Deckard said:
Whilst I agree that there are a lot of people who have only themselves to blame for bank charges, I ask you to consider my wifes case against the banks.
The wife has a part time job, brings in about £350 paid monthly-her account is used for a few certain bills, such as utillities, and leaves a few quid in for school trips, vets bills, that sort of thing.

Early last May, my wife writes out a cheque for £12 for my sons school trip, there is more than enough in her account to cover this.
8 weeks later, we are in Spain, she's emptied her account for our San Miguel tokens, but she knows that the family allowance and a small pension will go in whilst we are away to cover the bills that will want paying.
On our return, we are greeted with a stack of letters telling her she is overdrawn (unauthorised) by over 2 hundred quid and they have not paid any of the direct debits that are usually paid.
Turns out that the school didn't put the cheque in for over 7 weeks, and my wife didn't realise it had not gone out.
The cheque bounces (by 3quid!!) and the bank charge her straight away 40 quid-puts her into an unauthorised overdraft, another 35 quid.
Account is now 66 quid in the red.
Next day, 60 quid pension goes in-still 6 quid down, but add another tenner, as it's another day of an unauthorised over draft -16 quid.
Next day, another tenner, plus a DD for 25 quid goes unpaid- another 40 charge- still 66 over drawn.

This happened for a period of 4 days, and by the end of it, she was £270 overdrawn, no bills had been paid, and most of her wages for the month were swallowed up in charges after they had put interest and other charges on.
My wife was at fault for not keeping an eye on that £12 cheque, but were the bank really justified in taking most of her wages and not paying any bills for what would have been a 3 quid overdraft for 1 day?

She phones the bank, but they are having none of it, just point to their "Terms and Conditions". The real problem was their practice of charging immediately for the bounced cheque- their charge put her overdrawn, and further charges coumpounded the problem. Needless to say, she don't bank there anymore!

Rick
I experienced something like that a while ago. Had a failed direct debit that I forgot about when I went on holiday. The bank, having encountered a failed direct debit (35 pound charge), then tried again in a few days resulting in another 35 pound charge.

Back to the UK and realized that suddenly, I have to pay 70 quid for the pleasure of banking with Natwest.

I was quite upset.
 
#16
joey_deacons_lad said:
take a look at any of the consumer forums,
Are they the same ones who give often wrong advice about dodging paying debts dont get me started on them :x
Absolutely not. I think that consumers should be able to effectively assert their legal rights, but I do not condone any sort of unlawful activity, whether it is debt avoidance or banks and debt collectors lying and intimidating people.
 
#17
Just to put my tuppence in (as long as I'm not charged for it!)

A little while ago I was screwed out of £200 by a faulty cash machine that didn't issue me the cash but still debited it from my account. As a result of this a load of bills and direct debits didn't get paid. The bank wasn't interested in my reasons but were very interested in slamming me with about £180 in charges. It took them 3 weeks to get me my money back and they still wouldn't reimburse the charges I had been given because the machine that had fecked up wasn't one of theirs.
I for one will be glad when this comes to court if it means I may get a chance to get some of my money back.

One other thing that may be escaping some of the "Mongs should sort their finances better" brigade. For the most part, me included, the argument isn't about wether or not you should be charged for fecking up your account. It is right that there should be some deterrent from spending more than you have. The argument is about how much the banks charge you, my own bank gives you a nice £25 charge for any month that you have gone overdrawn PLUS a £30 charge for each individual time. So going over by as little as a few pennies can get you a lovely £55 charge. That is what is being argued about. The credit card companies were found to be charging too much and have since put their charges down to a more reasonable level. It's time for the banks to be doing the same.

Here endeth the rant
 
#18
hogspawn said:
They'll find a way to screw us, it'll be monthly charges for having an account next.
You say that as if its something new. Some banks have been doing that for years. Barclays for example, their Additions account used to have a charge for having it (don't know if this is still the case, haven't banked with them for a long time).

The floodgates aren't quite open for the consumer yet though, we still have the lengthy appeals to go through. Then the appeals against the decision of the appeals court, then the appeals to Big Cheif Talking Bollox of the South America Indians and anyone else the banks can think of to appeal to until they get the outcome they want.
 
#19
Rick_Deckard said:
Whilst I agree that there are a lot of people who have only themselves to blame for bank charges, I ask you to consider my wifes case against the banks.
The wife has a part time job, brings in about £350 paid monthly-her account is used for a few certain bills, such as utillities, and leaves a few quid in for school trips, vets bills, that sort of thing.

Early last May, my wife writes out a cheque for £12 for my sons school trip, there is more than enough in her account to cover this.
8 weeks later, we are in Spain, she's emptied her account for our San Miguel tokens, but she knows that the family allowance and a small pension will go in whilst we are away to cover the bills that will want paying.
On our return, we are greeted with a stack of letters telling her she is overdrawn (unauthorised) by over 2 hundred quid and they have not paid any of the direct debits that are usually paid.
Turns out that the school didn't put the cheque in for over 7 weeks, and my wife didn't realise it had not gone out.
The cheque bounces (by 3quid!!) and the bank charge her straight away 40 quid-puts her into an unauthorised overdraft, another 35 quid.
Account is now 66 quid in the red.
Next day, 60 quid pension goes in-still 6 quid down, but add another tenner, as it's another day of an unauthorised over draft -16 quid.
Next day, another tenner, plus a DD for 25 quid goes unpaid- another 40 charge- still 66 over drawn.
This happened for a period of 4 days, and by the end of it, she was £270 overdrawn, no bills had been paid, and most of her wages for the month were swallowed up in charges after they had put interest and other charges on.
My wife was at fault for not keeping an eye on that £12 cheque, but were the bank really justified in taking most of her wages and not paying any bills for what would have been a 3 quid overdraft for 1 day?

She phones the bank, but they are having none of it, just point to their "Terms and Conditions". The real problem was their practice of charging immediately for the bounced cheque- their charge put her overdrawn, and further charges coumpounded the problem. Needless to say, she don't bank there anymore!

Rick
Very similar thing happened to my missus too. In this case it was a direct debit that had gone up by a pound or two. Ended up with in excess of £200 of charges and they refuse to discuss the charges at all.

They did kindly offer her a loan to pay it off. At 20% APR FFS :x
 
#20
joey_deacons_lad said:
Any cost's from paying back charges will end up being passed to the customer they always do.And banks will probably put in stricter lending measures making it harder for people to get credit. So the majority will suffer because of mongs being unable to manage thier finances
There should be no charge to the customer for paying back the money the banks extorted. The banks may have to pay back millions but they have already earned a fortune in interest on that money, they will still end up quids in, literally.
I agree that if you can't manage your finances you should be liable to a charge but it should be relative to the real costs involved. There is no way that it costs £30 for a computer to print and post a letter to inform you that you are in the red.
I managed to go overdrawn after my wife made 3 transactions of about £5 each. I replaced the money within an hour but was charged £90 for the transactions.
 

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