Court Case

[numnut1]

After reading in the paper today that Lloyds TSB won a court case against a customer reclaiming charges back is it likely that others will follow suit? i am currently pursuing a claim from Natwest, i have asked for all my charges back totalling 5k, is it still worth pursuing? I was looking forward to that money!!!!

[mrpeter]

If your charges are for being overdrawn without bank approval then why should you get your money back? I am sure that in the aggreement with your bank this was clearly stated in the terms. Better control over finances would be a better option. If you had to pay for items in cash this could never happen. Money is too freely available these days and far too easy for people to get out of their depth with finances.Do not spend what you do not have. I hope more banks win their cases so that those who follow the rules will not have to suffer by banks getting their charges by charging everyone for simply having a current account.

[buildersmate]

My sentiments entirely, Mr P.
In answer to the question, its impossible to say. Legal cases of this type are won or lost on the particular circumstances of the case, linked to previous judgement rulings that create case law from which lawyers (an judges) work out an answer. In this way, the interpretation of the law shifts over time. If you check out the circumstances of that case and compare it to your own, it will give you a clue as to why the judge ruled against the customer.

[Markandshez]

My answer to the previous, similar question still stands

http://www.theanswerbank.co.uk/Business-and-Fi nance/Question407514.html

[abranei]

The level of charges are illegal and therefore people are entitled to get their money back. The actual charge allowed to be made by banks has not be set at the time of this post. Therefore all charges can be claimed back with interest.

MrPeter it is illegal for the banks to over charge! So you condoning illegal charges made against your account?

I accept charges should be made but they are only allows to charge the administration costs they incur not make profit from it.

The recent court case has been described as an blip and has not set any precidence.

Keep the claim going!!!!

Check out http://blog.moneysavingexpert.com/?p=457

[abranei]

MrPeter you right money is freely available and why do you think banks (Sorry Profit making companys) do this. To charge interest, make charges and ultimately profit from it.

Banks are not there to help us but to make money from us.

[EverClean]

It is not "illegal" as Martin Lewis keeps banging on about. The regulator deemed that the charges should be representative of the cost incurred by the administration involved in the processing of the payment and NOT a penalty against an individual for being naughty. It is a voluntary code of practice. Banks make money for pensions and investments as well as themselves.

The banks will win one way or another - I don't understand why people can't see this. If they end up shelling out all this money to people who have no control over their finances then it will come back from somewhere else!

These freeloaders are sending us all down the road to a monthly fee just to have a current account.

Come on the banks!

[abranei]

Regardless of legal or illegal thats for the courts to decide.

One thing is that they are unfair to charge that much (Source:Office of Fair Trading).

I'm not apposed to charges just that they should be fair.

Not everyone has the the ability to keep in the black and families on low income are worse off. Charges can amount very quickly as in the case of my brother. He struggled to get back to normal again after his work place failed to pay this salary.

Freeloaders - Yet another idiotic blanket remark about people reclaiming charges when everybodys case is different. Not everyone is trying to make some fast money for my brother its about providing basic essentials for his family so when the banks overcharge its unfair.

[EverClean]

Did he oppose the charges at the time? Did he consider them unfair or "illegal" at the time?

Or did he see all the current publicity regarding peole fighting this and thought "I'll have some of that!"

If they are unfair then they are unfair. They do not suddenly become unfair when you see easy money.

I stand by my statement - freeloaders.

[mrpeter]

Too true everclean. I bet everyone is attempting to claim ALL the charges back, not only what they consider to be above the fair charge! I am very pleased with my bank and the work they do on my behalf for free. I have never paid my bank anything for over forty years. I keep a record of how much money I have in the account and if it is not in the account I do not try and buy/spend for items that would take me over my balance. The banks should stop honouring cheques or other forms of payment that will take people over their agreed limit. If it is necessary to spend more than you have try and get a loan, agree the repayment figure and terms and do not grumble later.

[blueboris]

mr peter, you sound like a right old leftie,go and play with the traffic on the m1 with a blind fold on please. what is qwrong with someone trying to get money back from someone else who have over charge, i hope you fall on bad times and then you might JUST understand what some of us go thro,
have a good evening

are you blair in disguise?

[abranei]

EverClean - At point in time no one questioned the fairness of charges due consumers lack of knowledge. Its taken someone to identify these charges as unfair to bring it to the consumers attention.

MrPeter - Quote "The banks should stop honouring cheques or other forms of payment that will take people over their agreed limit". Why dont banks do this? Because it makes them money when people make mistakes.

THIS IS WHY ITS UNFAIR TO CHARGE MORE THAN THE ADMINISTRATION COSTS!!

So people on low incomes should keep you banking free? Whos the freeloader?

[abranei]

MrPeter and EverClean

A Single parent on low income loses the job and have rent, gas electricity and food bills to pay?

Bank refuses help due to poor banking history. Bills are paid using the remaining bank balance and overdraft. Still no job and more bills to pay meaning entering into unauthorised overdraft and charges applied. Still no job and further charges applied.

Where do you stand with these unfair charges now? Just to clarify I'm talking to about the portion of the charge that is unfair not the actual amount it cost the bank in admin fees as I agree these should be paid?

BTW- Dont answe with that would never happen. This is based on actual situation.