# BANK CHARGES!!!!!!



## KammyTT (Jun 28, 2006)

Fucking bank charges, i went overdrawn on my dd account and the bank went nutts on charges. is there not a limit to the amount of chgarges a customer can recieve etc?? :evil: :evil:


----------



## Wallsendmag (Feb 12, 2004)

Have a look at Money Saving Expert I am sure they had something on about bank charges a while back.


----------



## jbell (May 15, 2006)

Loads of people are sueing their banks for being overcharged. The bank can only charge you a reasonable amount which is comparable to what it costs them.

Go in to your branch and see the manager and talk to him


----------



## s3_lurker (May 6, 2002)

Don't say I never help you!

http://news.bbc.co.uk/1/hi/business/6170209.stm


----------



## KammyTT (Jun 28, 2006)

cheers lurker your the man! not sure how i am gonna get all my statements? i should keep them really. i was charged over Â£200 this month alone! bloody shocking :evil:


----------



## NaughTTy (Jul 9, 2003)

KammyTT said:


> cheers lurker your the man! not sure how i am gonna get all my statements? i should keep them really. i was charged over Â£200 this month alone! bloody shocking :evil:


If you have online access to your bank account you should be able to download any statement for the past 12 months or so. If you're not, then maybe worth considering getting online access. 

My bank must love me though. I just went over my overdraft limit on my DD account and they waived the charges 'cos I'm such a long-standing loyal customer


----------



## KammyTT (Jun 28, 2006)

i just spoke to my branch and they said all i have to do is put it in wtriting and they will give me the statements i want. im probably due thousands, once they charged me over 300 quid, im not letting this go! its about time i started to fight back.


----------



## LakesTTer (Jan 19, 2005)

This was all on the money programme the other night. If you haven't kept the relevent statements and the bank drag their heels, you can demand them using the freedom of information act, there's a link somewhere..................hold on.


----------



## LakesTTer (Jan 19, 2005)

Try this.
http://news.bbc.co.uk/1/hi/business/6169539.stm


----------



## KammyTT (Jun 28, 2006)

so are they legally obliged to provide me with my bank statements from the pAst 5 years then?


----------



## Nando (Feb 5, 2004)

KammyTT said:


> so are they legally obliged to provide me with my bank statements from the pAst 5 years then?


yes


----------



## KammyTT (Jun 28, 2006)

what do you suggest i say to them when i ask? will i just write and ask for the las 5 yrs statements and say why i need them or just keep that to myself for now? what will i say if they tell me they wont or cant which is what im expecting as they are very incompetent1 :?


----------



## R6B TT (Feb 25, 2003)

KammyTT said:


> what do you suggest i say to them when i ask? will i just write and ask for the las 5 yrs statements and say why i need them or just keep that to myself for now? what will i say if they tell me they wont or cant which is what im expecting as they are very incompetent1 :?


Well they seem to be pretty competent at charging you - if it's been happening for years either:

a) you should have kicked up before or

b) and you may not like this - you're pretty crap at managing your finances

If I was getting charged 200 - 300 per month I'd be right on it. Unless of course you are a zillionaire and you don't care.

I would start with the last 12 months statements, say you've noticed some high bank charges and are concerned as to why / how they are so high. If for example you regulatly go 500 overdrawn, and they are charging you unauthorised overdraft fees ask them wtf they didn't offer you an agreed OD. You are probably a profitable customer for them so they would want to keep you.


----------



## KammyTT (Jun 28, 2006)

yup i am crap at sorting out my finances  but that shouldnt mean i should be penalised does it? if i just ask for twelve months then doesnt that mean ill only get 12 months of fees if im lucky?


----------



## R6B TT (Feb 25, 2003)

KammyTT said:


> yup i am crap at sorting out my finances  but that shouldnt mean i should be penalised does it? if i just ask for twelve months then doesnt that mean ill only get 12 months of fees if im lucky?


You could ask for 5 years worth - but thats 60 statements to go thru :?

If you start with 12 months, and find evidence that they have screwed up, challenge them on it, and then go for the 5 years.

With regard to your first point - they set the rules and you sign up to them.

Unless you can find evidence that they have screwed up, made incorrect charges, you are relying on their goodwill.

If you argued you were crap at noticing road signs and therefore shouldn't be charged when caught speeding how far do you think you would get with Mr Plod.

I'm sorry mate, I don't work for a Bank, and I don't wish to be rude, but if you are paying Â£Â£Â£s in charges because you don't look after YOUR money and let it run on for years - think of the extra mods / holidays / loose women you could have bought with those Â£Â£Â£s of pounds!


----------



## jampott (Sep 6, 2003)

A fool and his money etc.

Downright stupid to rack up that much in bank charges. Honestly you should sort your life out before worrying about claiming it back from the bank.


----------



## KammyTT (Jun 28, 2006)

thanks for that jam,things have looked up alot since i moved up in the world etc :wink:


----------



## John C (Jul 5, 2002)

KammyTT said:


> yup i am crap at sorting out my finances  but that shouldnt mean i should be penalised does it? if i just ask for twelve months then doesnt that mean ill only get 12 months of fees if im lucky?


So the bank should sort it out for you for free?

Bank charges are the easiest things in the world to avoid, get an overdraft and you won't pay penalty fees just arranged fees if that.


----------



## vagman (Sep 6, 2002)

Hold on a wee minute here.

You are moaning that your bank bounced direct debits on your account because you didn't have the funds to cover them. :?

If you don't want to incur charges, then conduct your account in a satisfactory manner.

It's about time pricks like you took responsibility for managing your own affairs and stop blaming others for your own financial incompetence.


----------



## kmpowell (May 6, 2002)

Oh thank you Vagman! I was sat here thinking exactly the same, however I resisted posting because I thought I might get flamed!

I couldn't believe what I was reading. I thought it was a wind up. The guy is moaning that the bank charges him for unauthorised spending of *THEIR* (in most cases, our!) money.

Also try considering that perhaps the Banks wouldn't charge so much if they didn't have to bail idiots like you out Kammy!

Kammy, let me congratulate you on having the neck of a Giraffe!

:?


----------



## R6B TT (Feb 25, 2003)

My sentiments entirely but I did try to be polite :wink:


----------



## KammyTT (Jun 28, 2006)

aww heck its worth a try! and not everyone is great with money, thanks for the comments though :lol:


----------



## R6B TT (Feb 25, 2003)

I guess this decrys the myth about scots being careful with money :lol:


----------



## neil_h (May 8, 2002)

I do work for a bank, so bias radar on...

If I walk into Harvey Nichols, take a pair of shoes and walk out without paying, the company calls the police...

If I walk into Harvey Nichols, take a pair of shoes and pay from an account that doesn't have the money in it... the bank charges a fee...

Which would you rather have - a fee or a police record?

Why do people that spend money they don't have not think it is theft?


----------



## KammyTT (Jun 28, 2006)

yes but the fee HAS to reflect the what it is being charged for, banks are not allowed to make profit from charges but they have been making billions ther4efore its illigal in a sense and hence why i am challenging them............ :roll:


----------



## kmpowell (May 6, 2002)

KammyTT said:


> yes but the fee HAS to reflect the what it is being charged for, banks are not allowed to make profit from charges but they have been making billions ther4efore its illigal in a sense and hence why i am challenging them............ :roll:


Dear oh dear, what a sad attitude you have. I wish it were the financial company I work for, that you were challenging. I would wipe the floor with you.

You are on to a hiding to nothing kammy, and it will probably cost you even more in future fees.

Why don't you just do the simple thing - take some responsibility and sort your fucking finances out!?!


----------



## KammyTT (Jun 28, 2006)

oh powell you are a very polite chap :lol:


----------



## camp freddie (Oct 2, 2005)

On the money program they showed a women who got back Â£5000 of bank charges (5 years worth)one chap was claiming Â£15000!
I've had a bank account for 22 years and have NEVER paid charges.
Its not difficult to manage an account.


----------



## KammyTT (Jun 28, 2006)

try telling that to the guy claimi8ng back 15000 :lol:


----------



## KammyTT (Jun 28, 2006)

oh and kmpowell meryy xmas [smiley=cheers.gif] you shouldnt be so grumpy


----------



## kmpowell (May 6, 2002)

KammyTT said:


> oh powell you are a very polite chap :lol:


Well, you started this ridiculous flame, so you only have yourself to blame if you don't like the frank and truthful responses.

Also, judging by the comments made by various people, perhaps you should take heed!

:?


----------



## s3_lurker (May 6, 2002)

Fkn 'ell - who called the 'Sanctimonious Police'? I've rarely read such a load of naive and self-righteous claptrap as some of the previous posts. To compare an unauthorised overdraft with stealing is at best dumb and at worst delusional. Banks WANT you to help yourself to their money. It's HOW they stay in business. Doh.

As for the Harvey Nichols example from our friend in the banking community it is so flawed I don't quite know where to start, but a more appropriate banking analogy would be this:

You have an account with Harvey Nichols. They know your name and address. You pick up a pair of Â£100 shoes and walk out of the store giving your account number to an assistant. They add the cost of shoes to the account and levy an administration fee and interest. Hardly theft.

If you bank-loving thickos actually read the orginal post the complaint was not about the principle of bank charges. It was the cynical LEVEL of racked-up bank charges that have no relation to Bank of England interest rates or the cost of administering the charges, and which amount to loan-sharking.

But if all you financial geniuses are happy to pay Â£45 for your bank to send you a five-line letter telling you thay are charging you Â£25 because your account slipped into the red to the tune of Â£8.50 for 24 hours go ahead and continue to bare your ass to them and invite them to fck you over.


----------



## KammyTT (Jun 28, 2006)

thanks s3 my point exactly! :wink:


----------



## neil_h (May 8, 2002)

I have too much time on my hands...



s3_lurker said:


> To compare an unauthorised overdraft with stealing is at best dumb and at worst delusional. Banks WANT you to help yourself to their money. It's HOW they stay in business. Doh.


(and for the record, the person that posted the analogy thought it was dumb as well, he thought exaggeration for effect might have been an allowed technique - but just for effect... in many countries, taking money that you know you don't have from a bank is treated as simple theft, so the conceit isn't that dumb... unless you are calling the French and Americans dumb... maybe not that great a point)

We really DON'T want you to help yourself to our money - I am guessing you don't know too many bankers - we don't like unknown risks - and the biggest risk we have is people taking our money without our permission, because we don't have a clue what they are going to do with it, or how we will get it back.

It really ISN'T how we stay in business - we stay in business by coming to agreements with customers where we agree how much money they will take, how they will pay us back, and by charging fees and interest on that transaction.

And to compare these charges to loan sharking... have you ever taken money from a loan shark without permission? If so, would you like to let people know what the result was? I am guessing it wasn't a letter that meets regulatory standards advising you that they were adding a fee to your balance... I am guessing that they know where you live, and I am guessing they would pop round for a "chat".



s3_lurker said:


> As for the Harvey Nichols example from our friend in the banking community it is so flawed I don't quite know where to start, but a more appropriate banking analogy would be this:
> 
> You have an account with Harvey Nichols. They know your name and address. You pick up a pair of Â£100 shoes and walk out of the store giving your account number to an assistant. They add the cost of shoes to the account and levy an administration fee and interest. Hardly theft.


Except my S3_lurker friend - you told the assistant that you were taking the shoes - if you phone the bank and tell them you are taking the money, they give you an authorized overdraft, and you pay a fee (maybe) and interest (maybe) at a reasonable rate - kind of like the admin fee and interest that you mention above.

The key is you tell, it is allowed - IT ISN'T THEFT. Use your analogy again - Harvey Nichols know your name and where you live, you take the shoes and walk out without telling the assistant your account number - you don't think the police are waiting for you at home when you get there? You take something that doesn't belong to you, without permission, in any other business in the world, it is called theft, but when it comes to money...

When we get caught speeding in our car, part of the reason for the fine / points / punishment is to try and dissuade us from doing it again. You may not want to believe it, but aside from earning money for the bank, part of the reason that any charges is made is to try and dissuade you from doing it again.

If you take a quick look at banking 101, the biggest cost we have (except for paying extravagant wages to staff to allow them to buy TT's) is people not paying back money they don't have - it really is the only way we lose money. And the only people that don't pay us back are the ones that don't have the money in the first place, so we like to try and control who does and doesn't take our money without our permission. That doesn't mean we always get it right, and it certainly doesn't mean that we don't make mistakes, but we genuinely believe that when we hit someone with a charge it will make them think about doing it again in the future, and so we have more control over that event in the future.

So, this is the flame room and you can feel free to have another go to point out the flaws in my analogy, but at least try and compare apples and apples rather than say theft and shopping.



s3_lurker said:


> But if all you financial geniuses are happy to pay Â£45 for your bank to send you a five-line letter telling you thay are charging you Â£25 because your account slipped into the red to the tune of Â£8.50 for 24 hours go ahead and continue to bare your ass to them and invite them to fck you over.


And this is the bit I do agree with you on - I don't understand why people keep bending over either - it is all within their control.

And because I can't help myself...

Banks tend to have a buffer zone - so if you go Â£8.50 overdrawn, or over your authorized limit, you will hear nothing from your bank... nothing.

And if you go Â£108.50 overdrawn, or over your authorized limit, and it is the first time you have done it.. phone them up, tell them you made a mistake, tell them it is the first time it has ever happened - they can tell if that is true, and if your bank halfway cares about your business, they will refund any charges to maintain the relationship with you - and if they don't - change bank, there are one or two out there to choose from.


----------



## spain (May 28, 2005)

saw this on morning TV, about how banks are overcharging to send out a letter saying that you are overdrawn, and in actual fact it only costs them about 4.50 quid and not the 35 pound they charge, they actually went on to say that what the banks are doing is illegal and that this money can be reclaimed.

Now IÂ´m not wanting to get involved in the rest of the thread, but if they say itÂ´s illegal and that it can all be claimed back, why not? Some people are crap at managing their accounts, some not , but most people get hit with these one time or another, I have purely because wages didnÂ´t go into my bank on time once ( I was 17 at the time), but my Dad luckily was dping a lot of banking with them and he got it cancelled.

They actually said that the biggest claim back as yet was 17000 pounds. All you have to do is write to the bank, see what they say, if they ignore you print off a form of that money experts website and take it to court, apparently if they donÂ´t say anything within 14 days(the bank) you win by default and get your money back. even if they do say something it will cost you about 100 quid max to go to court which you will also probably win.(this all comes from the guy on tv)

so why not?


----------



## KammyTT (Jun 28, 2006)

worth a try i say, and its all very well saying oh look after youtr money better, but it doesnt help when they OVERCHARGE you, you are missing thw whole point of the thread! its obvious i should pay more attention but thats not what the post is getting at!


----------



## John C (Jul 5, 2002)

@ Neil_H

Like your reasoned argument but I have to take complete and utter exception to one part. You are just so wrong it is irreprehensible.

Extravagant wages?!?! The wages are just generous, it's the bonuses that are extravagant.

My salary keeps me in boys toys and holidays. It's 2006 bonus that is paying for the Mk2 in March.

Get it right next time you mad fool!

Anyway how else would fellow bankers get to come and see their colleagues across the pond in First Class before seeing the Red sox, pitch side, at Fenway next May? :wink:


----------



## phope (Mar 26, 2006)

a whole Mk2?? sheesh!

I'm working in the wrong part of the organisation!!


----------



## Wallsendmag (Feb 12, 2004)

phope said:


> a whole Mk2?? sheesh!
> 
> I'm working in the wrong part of the organisation!!


Someone on the forum bought the front 1/3 of mine ,very nice of them :lol:


----------



## s3_lurker (May 6, 2002)

> in many countries, taking money that you know you don't have from a >bank is treated as simple theft, so the conceit isn't that dumb... unless >you are calling the French and Americans dumb... maybe not that great a point) 
>

Fair point.I have a French bank account and know full well I may not EVER go overdrawn without permission or write a cheque that may bounce.

HOWEVER

That is NOT current banking practice. It would be better if it was. But it's not. And the UK banks would not want it to be so. Otherwise they would not be able to levy their charges and they would lose out on this billion-pound-cash-cow.

Rather like the government trying to discourage people from giving up smoking but secretly praying no one ever does or they would lose massive revenues.

And you can't always blame the customer for unwittingly going overdrawn. Not when it can take up to five days to clear a cheque and the customer has no idea when the cleared funds will be available.

I've often wondered why, in this age of internet banking and instant transfers, the banks still require three days to clear electronic funds. I know when I pay someone online the money leaves my account that second.But the payee can wait up to five days for it to appear as cleared funds in their account.

Using my money without my permission for three to five days and not paying me interest? Sounds like theft to me.


----------



## KammyTT (Jun 28, 2006)

but you do pay interset! i get charged Â£35 thenÂ£25 at the end of the month and get charged interest in a seperate letter.


----------



## spain (May 28, 2005)

have you tried claiming it yet?


----------



## Trax (Aug 11, 2006)

Just noticed this post, so not sure how much of this has already been said.

What you have to do is send a data protection letter to your bank, requesting they send you the last six years statements, it costs you a ten pound postal order for this.

Add your last six years charges up, then give them 14 days to pay them back, when they refuse, file in court, wait for some solictors letters etc, some bull a bluster, keep waiting and refuse their part offers, then maybe get a court date, then get your money in full before the court date.

Well, thats kind of what happens in a quick highlight way. The proper letters and timescales that you need to send are on various websites, the one I used is http://www.penaltycharges.co.uk

I got my Â£400 in charges from Co-op after sending the fourteen day letter (i.e. before issuing court proceedings). The Â£5k that Natwest owe me is going to take a bit longer, as I am just about to issue court proceedings for that.

Good luck, go and get your money that you are owed.

Anyone can PM me if they are unsure what to do. The guy that runs the above website is the guy that was on the BBC2 program Bank Robbery, last week. Also the lady that was on GMTV a month or so ago, that sent the bailiffs in to Natwest after they didnt pay her out after she had won is on there, I think she is called Camkick, or something very similar.


----------



## KammyTT (Jun 28, 2006)

Cheers trax, im just waiting fdor my statements to be delivered or the letter from the bank in reply prob saying they cant find them etc. thanks andi ill keep you all posted. :wink:


----------



## Scott2k21 (Nov 11, 2004)

Interesting thread........valid points on both sides of the fence

I think the banks not fighting the claims is a major point to note.......i.e. they 'admit' to unrealistic charges

but.....and its a BIG but......to constantly allow yourself to be penalised in such a way without solving/reducing the 'problem' I think is utter madness :?

I got charged once this year.....Â£25 for not enough funds to cover a cheque payment :x

and now my story :roll:

had something to pay for after 6 months int free.......sent cheque for around Â£3k on the Monday from a current acc of mine (NOT main bank account but kept open for instant link to savings)

......thought I'd wait a couple of days before transferring money from savings as those couple of days interest are better off in my pocket :roll:

My theory was that as Postman Pat had to deliver the cheque (1-2 days) and then the company would have to produce it and have it clear, I felt that Wednesday/Thursday the same week would be fine to make the move with plenty to spare

WRONG  .......when I checked on the Wednesday morning, the amount had been attempted to be taken but as no funds available (as account not used)......a nice Â£25 charge had been added :evil:

I immediately transferred the full amount and the company re-produced the cheque a few days later and all went through OK

Moral of my story.......the interest earned on Â£3k in a couple of days will never be enough to cover those 'illegal' charges the banks make :roll: :wink:

still......might try to get it back tho.......theiving scumbags :lol:

PS am I missing something on how long it takes a cheque to clear nowadays :?


----------



## KammyTT (Jun 28, 2006)

3 to five working days i thought. my finances are ok now but i was a bit careless shall we say, when i was younger, ie last year :roll: , and if there is a way of gewtting this back then of course im going to take it, why not? money doesnt grow on trees.


----------



## Scott2k21 (Nov 11, 2004)

KammyTT said:


> 3 to five working days i thought


my thoughts too :?



KammyTT said:


> i was a bit careless shall we say, when i was younger


weren't we all :wink:



KammyTT said:


> if there is a way of gewtting this back then of course im going to take it, why not? money doesnt grow on trees.


....absolutely.....and I was being serious about trying to get my Â£25 back too :twisted:


----------



## KammyTT (Jun 28, 2006)

just call and tell them. normally they will say yes if you dont do it all the time, im just waiting for a response regarding my statments then i will be pursuing my claim, prob going to be well over a thousand if im lucky. a reap will be in order


----------



## John C (Jul 5, 2002)

phope said:


> a whole Mk2?? sheesh!
> 
> I'm working in the wrong part of the organisation!!


lol - I do have a 2003 225 with only 14k on the clock to trade-in so not quite a whole Mk2! :wink:


----------



## Trax (Aug 11, 2006)

Dont worry Kammy, they will find them, and if they dont, you report them to the information commisionaire, and still file in court for an unknown amount, whilst they squirm around and find your statements.

People dont tend to have any problems with receiving the statements, its after you ask them for the money that the banks try and fob you off, you just got to keep at it and follow the timescales on the websites.

Good luck, even though you dont need it.


----------



## KammyTT (Jun 28, 2006)

got a letter this morning asking for Â£10 for them so things are looking up, will i just send a cheque or cash?


----------



## Philr (Oct 10, 2006)

The penalty charges website suggests a postal order - send recorded delivery.


----------



## GHuTTch (Dec 4, 2003)

The problem with all the thick people who cannot manage their finances properly forcing charges for unauthorised overdrafts, failures to pay direct debits, etc to come down is that the banks use the profits they make on these to subsidise free banking for those of us that can manage our own bank accounts.

First direct have already started to impose charges if you do not pay in over Â£1500 a month - who is next?

Oh, and if I go an see a lawyer he will charge me Â£100 to write a letter - does it cost him Â£100 - does it f##k. But I am not going to write to the Law Society to complain about it.


----------



## spain (May 28, 2005)

robbing bank thieves, fuck em


----------



## s3_lurker (May 6, 2002)

>Oh, and if I go an see a lawyer he will charge me Â£100 to write a letter - >does it cost him Â£100 - does it f##k. But I am not going to write to the Law Society to complain about it.

What a fucking stupid argument. FFS, you APPOINT a lawyer to write your letter for you. You don't ASK a bank to write you a letter and charge you. And if your lawyer charged you Â£500 you'd be off to the Law Society pretty damn quick.

Christ, the level of intellectual debate around here is fucking Neanderthal.

:evil:


----------



## spain (May 28, 2005)

How anyone can stick up for the banks is beyond me


----------



## LakesTTer (Jan 19, 2005)

GHuTTch said:


> The problem with all the thick people who cannot manage their finances properly forcing charges for unauthorised overdrafts, failures to pay direct debits, etc to come down is that the banks use the profits they make on these to subsidise free banking for those of us that can manage our own bank accounts.
> 
> First direct have already started to impose charges if you do not pay in over Â£1500 a month - who is next?
> 
> Oh, and if I go an see a lawyer he will charge me Â£100 to write a letter - does it cost him Â£100 - does it f##k. But I am not going to write to the Law Society to complain about it.


Going overdrawn or having a cheque bounce isn't an indication of someones intelligence, unavoidable shit sometimes happens and getting charged by the bank is an unfortunate fact of life. Now, the thread was started so he could get some advice with a potential claim and how best to go about it, not to be ridiculed for bad money management. If you have any advice, then please feel free to help. If you haven't, then leave your fucking stupid opinions in La La Land and be content in the knowledge that you're Peter fucking Perfect and will never be charged by your bank.
The quote is an example, the flame is directed to the author AND everyone else who found is neccesary to jump down his throat. I hope all is well in Spingley Spangley World :evil:


----------



## spain (May 28, 2005)

i like it :lol:


----------



## Trax (Aug 11, 2006)

KammyTT said:


> got a letter this morning asking for Â£10 for them so things are looking up, will i just send a cheque or cash?


As Philr said, postal order, and recorded delivery. Never give them a chance to get of the hook.

And as for people trying to defend the banks, what total muppetry. Banks help themselves to our money, and as part of the process, drive people who are not in a great situation in the first place, deeper down the spiral of debt problems. How they themselves can defend it is deplorable.

You only have to see some examples, i.e. people who live from payday to payday, somehow dont have the money to pay an Â£10.00 direct debit, and before they know it, can rack up over Â£100 in charges. As the bank declines the Â£10.00 dd that would have taken them Â£9.00 over their limit. They do this by charging them say Â£35 for doing nothing, then charge them an account fee of say Â£25 because the Â£35 took them over their limit, then when the Â£10.00 is represented, they are again charged Â£35 when it doesnt get paid. Now they are Â£95 over there limit, so if they put Â£50 to cover some dd in the meantime, each one of them would be bounced at Â£35 each one, so before they know it, they could be Â£200+ overdrawn, without the bank actually doing anything. Then they get paid, Â£200+ of that is taken away, so they dont have enought money to cover this months direct debits, and as they use all their money, they cannot magically find this Â£200+. So they have another month of bounced direct debits and charges, and a potential Â£400+ in charges so far. Now the people who the dd were for are starting to ask for two months of money.......

And it goes on, and guess what, their house gets reposessed, just for the sake of a Â£10.00 direct debit.

Extreme, but this is how it starts.


----------



## KammyTT (Jun 28, 2006)

very true! its all profit for them and alot of it, 4.5bn per year to be precise. and i want every penny back! :evil: i will keep you all posted as this TRIAL progresses.


----------



## phope (Mar 26, 2006)

I work for a bank...I really don't know what it costs us per unpaid transaction for the admin work, of which there is a fair amount

But I do know that we have many hundreds of staff nationwide whose sole job it is to manage the unauthorised overdraft and debt recovery process, along with the tens of thousands of man hours spent every month contacting customers who can't be bothered to pay in to meet their commitments...even I can estimate that the total cost to my employer alone is well into the 10s of millions annually...

That's even before the amounts of written off debts are even taken into account...so I guess there is a cost in the hundreds of millions per bank that they are keen to recover from charges

So to suggest that the charges are pure profit is a misleading, misinformed and frankly wrong statement

Charges and fees are part of terms and conditions that people agree to when they ASK the bank to open an account...banks don't hide the fact that they charge for these things...

If people are getting regular charges, speak to your bank, put in a claim for a refund, see how you get on with it, and then take a long hard look at why you get so many charges in the first place - no offence to you personally, Kammy


----------



## KammyTT (Jun 28, 2006)

apperantly it costs a maximum of Â£4.50 to the bank per un paid dd so thats why its illegal in a sense or thats what im told by the bbc. plus the bank has never contacted me, all i get is a standard automated letter which is sent out automatically so how do they justify Â£35 PER LETTER? and from what im told they do make a profit and a large one at that.


----------



## digimeisTTer (Apr 27, 2004)

First Direct have just informed me that i need to keep a regular balance of Â£1500 or i will now incur account charges 

sorry if this has been posted -couldn't be arsed to read the entire thread


----------



## KammyTT (Jun 28, 2006)




----------



## Trax (Aug 11, 2006)

KammyTT said:


> apperantly it costs a maximum of Â£4.50 to the bank per un paid dd so thats why its illegal in a sense or thats what im told by the bbc. plus the bank has never contacted me, all i get is a standard automated letter which is sent out automatically so how do they justify Â£35 PER LETTER? and from what im told they do make a profit and a large one at that.


Your wrong there, it was worked out by the ex-high up management and money experts that a bounced cheque can cost a maximum of Â£4.50, direct debits (which form most charges) cost about Â£2.50 to the banks. Now that Â£2.50 will be an average of the cases that cost some money, and the ones that are automatically done, which cost about a stamp.

So phobe, these calculated costs include the costs of computers, processing, and manual intervention etc, not just the letter, but the whole costs to the bank. So, they may not be pure profit, but Natwests Â£35 for my bounced direct debits only contribute Â£32.50 to Natwest in pure profits???? Cry me a river Natwest!

Sorry if this is a dig at you phobe, but the charges that the banks charge, are far in exageration of their costs, the actuall profit on their charges is over 90%, nice of them.


----------



## Wallsendmag (Feb 12, 2004)

digimeisTTer said:


> First Direct have just informed me that i need to keep a regular balance of Â£1500 or i will now incur account charges
> 
> sorry if this has been posted -couldn't be arsed to read the entire thread


Get yourself a credit card or savings account ,the charge doesn't apply then.


----------



## Wallsendmag (Feb 12, 2004)

Just seen this site ,may be helpful http://www.unfairbankcharge.co.uk/?aid=CD2&0=674316


----------



## KammyTT (Jun 28, 2006)

cheers m8, im just waiting for my statements to arrive. :wink:


----------



## bilbos (Jan 16, 2004)

digimeisTTer said:


> First Direct have just informed me that i need to keep a regular balance of Â£1500 or i will now incur account charges
> 
> sorry if this has been posted -couldn't be arsed to read the entire thread


It seems as if the banking system in the UK is going the same way as here in the US.

With my current account, I have to keep a minimum of $1500 in it or I will be charged $20 a month "service charge". When I originally opened the account, I had to keep $5K in it to avoid charges but have since downgraded, especially as the interest rate is so poor on bank accounts.

Hope your situation is resolved soon Kammy!


----------



## Hilly10 (Feb 4, 2004)

Went overdrawn in my current account while on holiday forgot to transfer my wages from the business account. I only use the current account to pay bills SO DD etc. It was only overdrawn for two days and the bank charged me Â£100. I had a right go at the call centre been with you 32 years never been overdrawn before they have thousands in my business account on which i get no interest,anyway i said i will close all my accounts and insurance business. They wavied the charge straight away :wink:


----------

