Is this theft?

[Dow Jones]

'Free' banking???

Never has been, never will be. It's a case of robbing Peter to pay Paul (both bank customers) so far. If the best banks in Europe like UBS can charge SFR 15 p/m (£ 7 or so) for a fee, most people won't have a problem here. What people object to is getting ripped off to the tune of £ 40 (unauthorised 'fees') for something that costs 1/10 (£4)for the bank to process. Looking around - even in Ireland - similar charges don't exceed £ 10 and if German banks can 'afford' to do that and still make profits, why can't UK banks do the same. The issue in court is not the right of the banks to charge, but the excessive amounts they do. I think ultimately they will have to limit those to more realistic levels, as suggested above

[BoredBloke]

Agree 100%. The banks should only be allowed to charge what it costs them to provide this service. What they actually do is fine people for going a few pounds overdrawn - easily done with direct debits and if your circumstances suddenly change. Often they will impose charges which push the customer overdrawn and which incurr more charges the following month. The HSBC applies its charges the following month. If you don't remember that charges are heading your way, these previous months charges can easily push you back into the red causing charges for next month.

[r0bly0ns]

Agree 100%. The banks should only be allowed to charge what it costs them to provide this service. What they actually do is fine people for going a few pounds overdrawn - easily done with direct debits and if your circumstances suddenly change. Often they will impose charges which push the customer overdrawn and which incurr more charges the following month. The HSBC applies its charges the following month. If you don't remember that charges are heading your way, these previous months charges can easily push you back into the red causing charges for next month.

I did exactly that many moons ago, I just phoned them up and said that without your charge I wouldn't have gone over by limit.

They agreed and refunded the 2nd charge.

[Xil3]

Yes, well done pal.

You and the oiks like you get the shedloads of dosh back that you've spent in charges over the last six years, it costs the banks billions, and the rest of us have to wave goodbye to the free personal banking model that we've enjoyed for 20-some years. All in order to subsidise you tools that can't help yourselves from spending money that's not yours, and then whining about being charged for it.

I can't wait for your house to be re-possessed, you short sighted fool.

Well, first you need to take your head out of your ass and stop assuming tulip. Second, I haven't been living here 6 years and I only got nailed with the overdraft charge once (because I wasn't used to the system, since the banks in Canada don't do this bulltulip). As far as I'm concerned, it's a complete ******* scam, considering that I asked the banks to limit me to my "LIMIT" instead of allowing me to go over it. But they do this on purpose to make money obviously.

Just because you've lived your whole life here and learned the bs tactics of this tulip you call a banking system, doesn't mean you can sit here and assume that I'm some debtor that abuses the system. I'd rather pay a higher service fee and not have to worry about accidentally going over my limit all the time.

[BoredBloke]

I did exactly that many moons ago, I just phoned them up and said that without your charge I wouldn't have gone over by limit.

They agreed and refunded the 2nd charge.

I have an account which never really gets used. I once mistakenly paid a load of cash into it. I moved it out a day later but transferred £2 more than I should and it went OD. I got hit with a £25 charge. Making the account £23 OD. I paid in £23 but hadn't taken into account their couple of pence of interest. This sent it back overdrawn by a couple of pence - something I wasn't aware of. As the account was not being used I filed the statements instead of checking them (something I don't do now!) . I then checked my statements a long time after only to find that this few pence had been charged £25. The following month the £25 charge and the banks interest incurred another £25 and so on. I noticed it when it hit £400 od. I got it back but really had to really argue my case and threaten to take all my acounts (including the business one) away from them.

[51st State]

Well, first you need to take your head out of your ass and stop assuming tulip. Second, I haven't been living here 6 years and I only got nailed with the overdraft charge once (because I wasn't used to the system, since the banks in Canada don't do this bulltulip). As far as I'm concerned, it's a complete ******* scam, considering that I asked the banks to limit me to my "LIMIT" instead of allowing me to go over it. But they do this on purpose to make money obviously.

Just because you've lived your whole life here and learned the bs tactics of this tulip you call a banking system, doesn't mean you can sit here and assume that I'm some debtor that abuses the system. I'd rather pay a higher service fee and not have to worry about accidentally going over my limit all the time.

God bless Americans. Including those that live in the sh*tty cold bit up north they call Canada.

So I should pay a monthly fee just because you need someone to look after your money for you, in case you go overdrawn???

Why not swap to one of the "simple" bank accounts, where you can't operate an overdraft if you can't handle simple things like cash?

Or give it to your Mummy to look after.

Christ on a Fireblade, the standard of contractors is dropping. Fast.

[2uk]

I wonder if you can ask the bank to prevent overdrafting - i.e refuse transactions.

[Xil3]

God bless Americans. Including those that live in the sh*tty cold bit up north they call Canada.

So I should pay a monthly fee just because you need someone to look after your money for you, in case you go overdrawn???

Why not swap to one of the "simple" bank accounts, where you can't operate an overdraft if you can't handle simple things like cash?

Or give it to your Mummy to look after.

Christ on a Fireblade, the standard of contractors is dropping. Fast.

It's not that I can't manage money... I simply wasn't aware of the fact that they did that when I originally came here.

No need to open up on me assuming the worst! Either way, everyone has their own opinions on this matter, so I won't bother stressing mine...

[51st State]

Never has been, never will be. It's a case of robbing Peter to pay Paul (both bank customers) so far. If the best banks in Europe like UBS can charge SFR 15 p/m (£ 7 or so) for a fee, most people won't have a problem here. What people object to is getting ripped off to the tune of £ 40 (unauthorised 'fees') for something that costs 1/10 (£4)for the bank to process. Looking around - even in Ireland - similar charges don't exceed £ 10 and if German banks can 'afford' to do that and still make profits, why can't UK banks do the same. The issue in court is not the right of the banks to charge, but the excessive amounts they do. I think ultimately they will have to limit those to more realistic levels, as suggested above

Agree 100%. The banks should only be allowed to charge what it costs them to provide this service. What they actually do is fine people for going a few pounds overdrawn - easily done with direct debits and if your circumstances suddenly change. Often they will impose charges which push the customer overdrawn and which incurr more charges the following month. The HSBC applies its charges the following month. If you don't remember that charges are heading your way, these previous months charges can easily push you back into the red causing charges for next month.

Absolute bull tulip.

Of course banking is free, for the vast majority of people.

Unless, of course, you break the terms of your credit agreement, and then there are penalties which subsidise the charge free banking for the people that don't.

If you don't like it, don't get into the position where you pay charges. Easy, eh?

[Xil3]

I wonder if you can ask the bank to prevent overdrafting - i.e refuse transactions.

I tried, they said that they don't have the system in place to do that. Which is complete bs... but whatever...

It's just another way for the bank to make money...