Bank Charges

[NetwkSupport]

Hey ALM some of the sources are:


http://www.moneysavingexpert.com/cgi...41050760,24632,

http://www.consumeractiongroup.co.uk/surveyresults.php


An intersting read....

[Mailman]

Wow. Are you a freelance judge too Mailman?

You left off executioner!

I suspect banks would simply argue that the charges are actually fair. Given that we’re informed of the charges when we open accounts, the banks have us over a barrel don’t they?

Banks can argue what ever the hell they want BUT the day they actually front up with justification (ie. clear explanations for how they work the cost of the charges out) for their high charges is the day the charges move from being unfair to fair.

However, I doubt banks will ever do that simply because they have far more to lose if this ever becomes public knowledge and are most likely more than happy to accept a few cases where they pay out than being swamped by claims going back years and costing them plenty of moolah.

Mailman

[tim123]

I stuggle to understand this.

As a general principle people agree terms to a contract, often with consequence for non performance. On that basis (and only that basis) the charges are fair - it was agreed.

No it wasn't agreed. It was presented to you as a fait acompli. The bank gives you no possibility of negotiating the charge away, you agree to their terms or you don't get the account.

Consequently, we have laws that make these clauses void if they are unfair, and this one has been deemed to be unfair.

tim

[TheMonkey]

Banks are slowly getting the idea that you can vote with your feet. I have 4 accounts and move everything over occasionally to keep them on their toes. They tend to be quite flexible (particularly HSBC in my experience!).

[Mailman]

People can vote with their feet but apathy is the banks friend!

Anyway, of all the big banks HSBC is the only one where the majority of its profit comes from its personal banking customers and not its business customers! So much for there being no money in personal banking!

Mailman

[ASB]

Im sorry but you are talking a pile of syed bollacks here!

Is this some sort of hitherto undiscovered kiwi marsupial with greater than the average number of testes ?

[Mailman]

Is this some sort of hitherto undiscovered kiwi marsupial with greater than the average number of testes ?

Nearly three hours you have had an thats all you can come up with?

Im sadly disappointed in your poor effort ASB!

Mailman

[ASB]

Nearly three hours you have had an thats all you can come up with?

Im sadly disappointed in your poor effort ASB!

Mailman

In my defence I've been to the accountants and on a conference call. That and I couldn't really be arsed to hone my rapier like wit.

[Mustang]

See my other post. I have been offered £260 and I haven't even told them I thought my charges were unfair - I had only asked what the charges were!!!

Once I know what the charges have been THEN I will probably respond further!

[dazza12]

Got onto this one quite late, but I'm one of the customers that are currently suing their bank.

I'm looking at about 3.5k, with interest applied (once it gets to court) it's about 4k. It's currently at the stage where court action has been applied for, the bank have been served.

I've been using the Consumer Action Group website (url earlier in the thread), and I highly recommend it. Plenty of information and help, and plenty of other people in the same situation to assist anyone who's thinking about it.