well i for one hope that the people who have run up charges due to not being able to manage their finances dont get it all back, it will make me suffer in the long run as the banks will try and claw it back some other way like charging to use a cash point, cashing cheques and so on

 

saw a woman on the tv today that had 5k of charges due to overspending and the bank offering more and her accepting, to me that sounds like her fault for taking the cash and spending it, i dont see why i should suffer for their stupidnes

 

i have been over drawn and i have credit cards, but i always make sure if i go over drawn that the spending stops til its cleared and the payments on cards are made on time and in full

 

what do you's think about this, obviousely the people in debt with charges will be all for it, but as i said i have been hugely overdrawn and got charges but i just stopped spending till it was sorted, i wouldnt think giving me the money back would be a wise thing to do

 

sits back and waits for the backlash lol

I remember reading about this a couple of years ago, I guess its been going through the courts in all this time ... back then the one thing people kept saying was this could mean the end of free banking for those that keep in credit, annual charges for having a current account seemed the most talked about.

 

I agree they have to be charged but it needs to be a sensible amount, I think some of the charges I read about were over the top like a letter telling you your overdrawn that cost you £20 ....

too gutted about the insurance thread being closed to comment :( just as the person who started the thread came back online and had a chance to respond as well :slap:

 

OK, I'm over it now...yeh I do kinda agree that people should be responsible for their own finances and they should be charged for using an unarranged overdraft, but I do think the charges were a little over the top. There should be a charge, a fair charge that reflects the admin involved, that should be standardised and if the banks are ordered to pay out then they should pay out whatever is owed minus the agreed admin charge for each admin charge...although I know its more complicated than that because some people will have incurred extra charges because the original bank charges pushed them further into debt

get this one...my business account is never in the red but it cost me about £60 per month to run whereas my personal current account dips in and out of the red and it costs me less in charges:confused:

its in the small print i would imagine, not that ive ever read it lol, it will cost us dearly in the future, although i did read that the banks will appeal, i just hope no more banks go under due to refunds as that will cost us aswell

 

i can see a very poor future if this gets passed

i agree bri, some things do need to be looked at, but i doubt just giving everyone money back is the way forward

well i for one hope that everyone who has been charged get their money back.

I would agree that they should'nt if the banks charged a reasonable amount, but they have been overcharging for way too long and making people go far further into debt than needed. And how can any bank complain that they cant afford it when they can give 6 figure bonus's just for doing a job that they are very well paid for in the first place.

The tax payer has bailed the banks out, and now its time that the money they have robbed people for is paid back and a fair scheme is put into place.

If the banks were responsible then they simply wouldnt allow transactions to be processed if the funds in them arnt there.

If the pro's who run the bank cant keep there books right and need bailing out ,then how can they expect everyone else to who maybe arnt that good with there finances or are just trying to make sure that the bills are paid stay on top of things.

here here!!!!!!!!

 

I agree they have to be charged but it needs to be a sensible amount, I think some of the charges I read about were over the top like a letter telling you your overdrawn that cost you £20 ....

 

 

 

Alliance & Leicester charge £32 now and your'e lucky if you get a letter...and then its a week later!

 

However, I don't want the banks to use this as an excuse to end free personal banking and certainly not start charging at ATM's. To clarify, tonight they say (the banks) that they may start charging £2.50 per transaction @ ATMs. B Cheek when they have spent years pushing for salaries/benefits/pensions etc to be paid straight into accounts and often thats the only way of getting YOUR money!

Edited November 23, 200916 yr by Dave

I got charge £28 then another £35 for going 0.16p over drawn, due to the system not updating properly and i thought i still had some cash in my account, this was last year while waiting for a pay check that the bank magically lost...

 

this is a well known high street bank, charges like that can not be justified, and to be honest, although i payed it, im not too happy about it, thats a very high mark up. 0.16p and getting charged £62.

 

I can see how people end up in debt with bank charges. its horrendous. needless to say, i try and maintain my account always in the black now. id like to get them charges back tbh as that would definitely be a case of overcharging. yes it was in the small print. but when you go to the cash machine and its saying you still have such and such available, only to spend it, then get a letter saying your over drawn, and when you look, its because the damn thing didn't update from a previous card use. thats a bit *****cks to me.

 

In this day and age with the technology we have, it should update almost instantly. not over a period of 3 to 4 days for something as simple as a chip and pin transaction that the banks forced on us in the first place.

 

as for people being in debt and then being offered more cash, personally i think thats the banks fault. yes there is also some responsibility from the customer, but ultimately a bank should not be offering anymore cash until the debt outstanding is paid off. thats more irresponsible than the person accepting it.

My business account went into the red after i went in to close it down. They transferred all the money into my personal account and then wanted to to charge £3 for the transfer when they're was obviously no money in there so it went overdrwan thus meaning the account cant be closed. They didnt tell me this till the £8 a day interest plus £120 a month charge had meant i owed them over £1200!!!! Very luckily i kept a letter saying the account was closed, thanks for your custom. Took nearly a year to sort though

well i for one hope that everyone who has been charged get their money back.

I would agree that they should'nt if the banks charged a reasonable amount, but they have been overcharging for way too long and making people go far further into debt than needed. And how can any bank complain that they cant afford it when they can give 6 figure bonus's just for doing a job that they are very well paid for in the first place.

The tax payer has bailed the banks out, and now its time that the money they have robbed people for is paid back and a fair scheme is put into place.

If the banks were responsible then they simply wouldnt allow transactions to be processed if the funds in them arnt there.

If the pro's who run the bank cant keep there books right and need bailing out ,then how can they expect everyone else to who maybe arnt that good with there finances or are just trying to make sure that the bills are paid stay on top of things.

 

well said!!!

Will be interesting to see what the court result is tomorrow.

I was 28p over my limit last week + the halifax wanted £28, until i had a whinge+ to be fair, squashed it.

The worst they ever did was during my move.

I went £8 overdrawn,due to a direct debit going 1 month early.(sky)

charge £28,

unautorised overdraft.Another £28,

failed direct debit.£28,

direct debit returned £28.

A letter to tell me all this, yup you guessed it Another £28.

In total i was charged £138 , including the interest on the unauthorised direct debit.All in the red.Frustratingly, they would not give me an overdraft 'as i was overdrawn',nice.

halifax are twats for it. ive found that one way to keep any unexpected charges down is to have paperless billing, they cant charge £28 for a letter they dont send.

Just to clarify this isn't a ruling on whether the fees are unfair. It's a ruling to decide whether certain legislation can be applied to them to then decide if they are unfair or not.

 

Will be a while before any decision on refunds will be made.

I bank with Abbey, and last month rang them to stop a DD with a home insurance company as I got it cheaper elsewhere (being in the insurance game, I know you can cancel mid policy without charge etc....)

 

However this month I have been charged £35 by Abbey. Apparently cancelling the DD with the bank is no longer enough....You now have to cancel with the company involved.

 

I f they then go on to request the money anyway, you then have to file a claim under the DD guarantee.

 

Robbing *******s

http://business.timesonline.co.uk/tol/business/law/article6931039.ece