mwhcvt
Posts: 805
Joined: Sun Oct 05, 2008 2:01 pm

Bank Charges UK (Outside UK What Are They Like?)

Wed Nov 25, 2009 8:22 am

So I'm sat here getting more and more angry at the reports of banks may be having to pay back billions of pounds in fee's and charges for items such as unauthorized overdraft charges etc..

To show my colours from the beginning I fall into the camp of I read and fully understand my Terms and Conditions when opening accounts, yes I have had charges many years ago but I accept these as they were my error. I also appreciate that we have a fantastic banking system within the UK with free use of ATM's, Free access to banking and savings accounts, excellent access to arranged credit facilities etc.

What is it like in your country?

Please copy and paste the below and add your position to the list if you are happy to do so

A.net Mini Survey

Agree with Charges?:

MWHCVT

Don't Agree with Charges?:


Mod's please delete if you feel this is not appropriate
Must think up a new one soon, slow moving brain trying to get into gear ;)
 
sunshine79
Posts: 1559
Joined: Fri Jan 06, 2006 8:02 am

RE: Bank Charges UK (Outside UK What Are They Like?)

Wed Nov 25, 2009 9:33 am

I'm dreading today at work, as I work in a bank call centre, and no doubt will be bombarded with calls regarding the outcome of the test trial case which to due to finish today. I've heard on the grapevine that the court is going to rule in favour of the customers. I'm so glad I'm off work tomorrow. I can see both sides of the story, customers should know what's available in their account so shouldn't spend what's not their's, however, the banks shouldn't let customers spend what isn't theirs.
Formerly alcregular, Why drive when you can fly?
 
bill142
Posts: 7863
Joined: Wed Aug 04, 2004 1:50 pm

RE: Bank Charges UK (Outside UK What Are They Like?)

Wed Nov 25, 2009 9:42 am

Banks here are starting to get rid of them. after years of jacking them up and trying to force us onto electronic banking, they've realized that people still want branches.
 
sunshine79
Posts: 1559
Joined: Fri Jan 06, 2006 8:02 am

RE: Bank Charges UK (Outside UK What Are They Like?)

Wed Nov 25, 2009 9:54 am

Looks like the banks have won the test case.
Formerly alcregular, Why drive when you can fly?
 
mwhcvt
Posts: 805
Joined: Sun Oct 05, 2008 2:01 pm

RE: Bank Charges UK (Outside UK What Are They Like?)

Wed Nov 25, 2009 10:02 am



Quoting Sunshine79 (Reply 1):
I'm dreading today at work, as I work in a bank call centre, and no doubt will be bombarded with calls regarding the outcome of the test trial case which to due to finish today. I've heard on the grapevine that the court is going to rule in favour of the customers. I'm so glad I'm off work tomorrow. I can see both sides of the story, customers should know what's available in their account so shouldn't spend what's not their's, however, the banks shouldn't let customers spend what isn't theirs.

Too true, Credit Card call centre agent, guilty as charged, and yes I too see both sides, and feel that if people are genuinely in a situation of financial difficulty due to illness, bereavement or job loss we should do all we can including suspension off fee's and charges in entirety however I see far to many cases of people that have plenty of funds and try and play the systems entirely to their advantage and then piss and moan when things don't go there way, it's this individual that I can honestly say I HATE  Wink
Must think up a new one soon, slow moving brain trying to get into gear ;)
 
Airstud
Posts: 3307
Joined: Wed Nov 29, 2000 11:57 am

RE: Bank Charges UK (Outside UK What Are They Like?)

Thu Nov 26, 2009 8:47 pm

Here in the United States, there are credit card companies of varying moral stripes, some of them would have to become 1,000 times more ethical than they are, in order to be termed merely "predatory."

There are also very strong, stringent, consumer-friendly disclosure and reporting laws (the Fair Credit Billing Act, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act to name but a few). Smart folks (like myself) who read and understand the fine print in their cardholder's and accountholder's agreements can adroitly spare themselves the sky-high fees for late payments, delinquencies, overdraft/overlimit activitah, etc.

A thing that bothers me is that it seems that during the Dubya administration, all usury laws were done away with. I mean it looks to me like that's what happened; a few months ago I got an "offer" in the mail saying I was pre-approved for a $3,000 loan; when I read the terms it looked to me like I would be paying back almost exactly twice that amount. Sure enough, as I read further, it flat-out disclosed that the APR was in fact 99.0%.

Obviously I put the offer letter in the shredder; but I had been darn-near certain that interest rates of that magnitude were bloody illegal. Perhaps not now.
Pancakes are delicious.

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