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Banks - overdraft charges rip off

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didnt people expect this to happen after all the millions being repaid to customers :huh:

 

At last someone with some common sense, there is a mega thread somewhere full of people gloating about how much money they got back from the banks, the time as come for us all to pay.

 

Arrange a approved overdraft and end up paying pennies instead of having a unauthorised overdraft and losing £’s.

Edited by Grandad.Malky

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If the banks stopped TRYING to make people overdrawn, with the ridiculous "we will take any money you pay out of your account immediately, but will delay any payments going in for up to 10 days" and "oh you have 5 DDs coming out but due to us not clearing your cheques, you can only pay 4. However, we are going to take out the biggest one out first, so that we can then charge you for refusing the other 4, rather than just charge you for refusing 1" then maybe the penalty charges would be ok.

 

Do you honestly think that there is a real person doing this with some devious agenda :hihi: DD are taken out automatically?

 

I was once overdrawn and charged for it but then in credit later the same day, I went to the bank to complain and it was all cleared up once a “real” person could see what had happened.

Edited by Grandad.Malky

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The banks are businesses, they aren't trying to help anyone but themselves

 

I think we all realised this a long time ago.

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I have just had a letter from my bank telling me about overdraft charges.

 

In the whole of my working life I have been overdrawn twice. You think fair enough but I have been working over 20 years and that is not bad going. Anyway they are now going to start charging £5 if you go overdrawn plus interest on top:mad:

 

I thought we owed most of the banks, how the hell can they do this.:huh:

 

What is the point, its about time something was done about this.

 

I assumed that the banks were trying to help us. Your telling me they are doing this to help other customers, I dont think so, it is just another scam to line their own dam pockets.:mad::mad:

 

Is it just me that thinks that is reasonable? When you hear of people getting charged £50 for going a few pence overdrawn it sounds like the bank is taking the mick. A £5 charge plus interest for going overdrawn is pretty fair. If I go overdrawn then I haven't managed my finances very well, that isn't the banks fault.

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But for each of those 20 years the bank has had the benefit of being able to speculate on the money markets using his deposited money. He hasn't charged the bank for that long term interest free loan.

 

But he has been able to get at his money with an increasing level of convenience over the course of those 20 years. There has been no need for him to carry around or store on his own premises large sums of money that would make an ideal target for particularly dangerous criminals and he has been able to set up direct debits and regular other transactions relatively easily. He has also recieved interest that he would not have got if the money was sitting in his house.

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I think we all realised this a long time ago.

 

Apparently not the OP.

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To be honest, we have bailed the banks out, most people already pay interest and why in hell should they have to pay twice. They have made a very big profit this year, so why do they need to bring these charges in, when they have made a profit already. Lets be honest no one wants to go overdrawn, but in this current climate, it is very common.

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If they charge you this then they must have put it in writing to you in the first place. if they haven't done so then you are allowed to take them to court for it, check the conditions of your account

 

thanks for your advise.The bank have done this on at least 4 times and i have no warning off this they never sent a letter or give any warning too say there was taking a charge.It just seams there can do what they wont.

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thanks for your advise.The bank have done this on at least 4 times and i have no warning off this they never sent a letter or give any warning too say there was taking a charge.It just seams there can do what they wont.

 

Change your bank ………… my bank send a statement and it says your agreed overdraft charges charges will be deducted on ***** date.

 

The bad point is I have just found out the facility that was free if unused is now going to cost £5 per month to have in place, still cheaper than unauthorized charges but expensive if only used just as a safety net.

Edited by Grandad.Malky

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Why should it trouble you, if you stick to your pattern you'll only go over drawn once a decade anyway.

 

The banks are businesses, they aren't trying to help anyone but themselves, and helping themselves to a profit is exactly what they are supposed to do.

 

The key here is choice though.

 

You are all but legally obliged to have a bank account, and just about all banks operate punitative charging schemes. It's not as if you can go elsewhere and get a better deal if you are unhappy with the service.

 

Yes, some people are just reckless with money, but for self employed people who have limited control over the timing of owed funds coming in, the system is completely unfair.

 

It is state sanctioned theft.

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So you've had 20 years of banking for free, with the facility provided by the bank without charge, and you are complaining when they charge you money if you cost them more?

 

:huh: and where would banks be without our money?? they dnt give their service for free, how would they survive if that was the case?

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