Bank charges

[emmakwall]

I sent a letter to my bank asking for my bank charges back, over a year ago.

In that time I also requested my old bank statements though I have not yet sent those off.

I didn't realise that after 14 days you had the right to write again and so did not do so. I have now however just received a letter from my bank (the first one so far) declining to pay back my charges. The letter states that since the court case dated 25th Nov 2009 they do not have to pay the charges back, but obviously they must have received my letter way before this date.

Is there anything I can do to move this forward or just a write off?

[ummmm]

So what Emma?

Primark pay children a few pence a day to make god knows how many garments. Then sell them at £10 a pop....should we claim the difference back?

[factor-fiction]

The matter has been decided by the courts and your only hope now is to pursue a claim under the Unfair Terms in Consumner Contracts Act, although I think this is unlikely to be successful as there will be too many spurious claims from fee charging firms so all claims may be dismissed. Once you knew the bank was charging £35 a pop I suggest that was the time to switch banks or rectify matters by making sure further charges weren't incurred.

[snags]

''the banks have to pay a fee of about £4.50 so they charge me and you £35''

emma... no it's not 'fair' but as has been said already, you agreed to these terms when you opened the account... £2, £35, £500... it makes no difference... you agreed.

[ELVIS68]

Abbey payed me £740 and said it was a goodwill payment rather than claimed charges

Even though people say you know the rules when you open an account, £35 is way too much to charge

[ABerrant]

The Supreme Court ruling of November '09 overturned the OFT challenge based on the Unfair Terms in Consumer Contracts Regulations. This effectively rules out an individual pursuing a claim under the same Regulations.

The OFT announced on 22nd December that they will not engage in any further legal action in regard of bank charges.

[squarebear]

And rightly so.

[ummmm]

THIS IS THE REASON.....


Buenchico (Mon 20:19 04/Jan/10) Report This
The court wisely ruled that the OFT can't produce a valid legal challenge to bank charges. So the banks are fully within their rights to refuse to repay them.

The UK is one of the few countries in Europe to offer free banking to personal customers. If the banks had been forced to reduce their charges we would all have had to pay for the privilege of having a bank account. (In most other Western European countries it costs around £25 per month simply to have a bank account, even if you never overdraw on the account).

If the courts haved ruled that the OFT can't challenge bank charges then the chances of you successfully doing so are effectively nil.

Chris

[hc4361]

Why do people think they have the right to help themselves to the bank's money when they have spent their own? What would happen if all unauthorised payments were refused? Your gas and electric would be cut off? The debt companies would be on your backs?
If you can't manage your money you shouldn't have a current account.
Spend your own money and not other peoples.

[ummmm]

It's not the banks fault you don't earn enough or spend too much....

[squarebear]

These banks are not charities. They are there to make money. Why should I pay extra for an account because other people can't budget? Yes, I've been caught out with these charges once or twice but it's my own fault for going into the red.

If you don't want to pay charges, keep in the black. Simples.

[ELVIS68]

The argument is not about being charged it`s the amount they charge, and it has been proved that the most it costs banks is £4.50, not £35, and yes as you say, "you know the rules" it`s still too much

My wages get paid into my account every 4th friday, my money doesn`t hit my account til 5am, yet a DD on the same day gets taken out just after midnight and the bank won`t cover it, is that fair?

[squarebear]

How would the bank make money if they charged people at cost?

I dare say a pint of beer costs pennies rather than £2 to make but that's what I'm expected to pay. If I don't pay it, I don't get it. I certainly don't expect the pub to pay me out of their profits because I think it's too dear.

[ummmm]

ELVIS....change the DD date.

[squarebear]

If your DDs come out on the day you get paid, that seems like too close to the wire for me. Why not re-arrange your DDs? This is basic money management.

[hc4361]

Yes, it is fair, Elvis. You set the DD up, agreed the payment date. Your fault. Change the payment date.
All those people that are objecting to the bank charges, what would you do if you kept the money under the bed and your creditors came knocking for their money? When it's gone, it's gone.