Bank Charges

[nedflanders]

http://news.bbc.co.uk/1/hi/business/6960358.st m

It's about time!, has anyone else claimed back their charges against the highstreet robbers?

What really annoys me is that whilst on one hand they are paying back people that claim back these over inflated charges, they still continue to charge people �30 to send out a letter! Why does the governement not step in to protect the public? The usual policy of protecting the capatilists I suppose. Any Opinions?

[cheries]

Hullo Ned. I claimed �1450 back from HSBC last November and they offered me �960 as a "good will gesture." I took it because I didn't want the hassle of going to court. However I was an existing customer and they clearly make a sizeable sum from my financial mismanagement,lol.
However, I am in the process of taking Barclays to court. This is an altogether different matter. When I was at University I was charged �2,700 in unauthorised overdraft charges. I closed my account with them because I was so utterly disgusted. Now I have been trying to get copies of my bank statements since February and no-one has even bothered to reply to my letters and calls. It makes me so angry. Barclays wrote to me once after I requested copy statements and said that they didn't feel the charges were unjustified and so they wouldn't be taking the matter further. I didn't even tell them I was asking for the money back!!!! They have been awkward and ignorant and deliberately obtrusive throughout the whole process but this just makes my teeth sharper.

[Loosehead]

Now I realise that this is probably a controversial view but the only reason these charges are levied is because the customer in question was not financial savvy or indeed generally intelligent enough to avoid it. The charges are OTT certainly but they wouldn't exist if people stuck to the agreements they made with the bank. It's not all the banks fault, if you go overdrawn to buy somthing you don't need with money you don't have they who's fault is that?

So how do you think the governement should step in then ned? Make stupidity illegal? The banks will make up the difference somewhere, I haven't paid a charge for over 10 years but you can bet from any time soon I'll have to start paying �x per month for current account facilities because the banks have to get someome to pay for it and the charges to the unauthorised OD brigade where indeed subsidising people like me. Hey ho!

[cheries]

Loosehead, I deeply resent the accusation that my intellect was the justification for Barclays charging me so much money. I was studying to be a teacher and had no grant from the government in order to help me out.
And to argue that people agree to the charges when they open the account is a little like a bully telling you they're going to hit you before they do it. It does not make it any more justified.

[cheries]

And for your sake, Loosehead, I hope they don't make stupidity illegal with spelling and grammar like yours.

[Loosehead]

Ok give me an English lesson if you like, I bashed it out so enjoy the less than perfect grammar. So is financial mis management a qualification for teaching these days? If you ain't got it don't spend it! Simple. you signed the terms and conditions when you openned the account.

I went through higher ed too, I got a job, it was hard but I did it.

If your kind are going to be teaching our children then god help us and I'm an atheist.

Go ahead pick the typos out of that!

[cheries]

I am not suggesting that I am a miracle of financial management Loosehead, but I don't accept that intellect has anything to do with this discussion. I am a successful person because I went to University but I had to endure being robbed by the bank in order to do so. I am sure that in your white-bread world money wasn't an issue, but sadly I had to struggle for mine. Perhaps you studied for a degree which allowed you the time to work almost full - time? I'm not prepared to justify my education or background to you , just as you should not have to do so to me. All I'm saying is that at the time that I was studying, the charges added to my list of worries. If that makes me a terrible teacher in your opinion then that's precisely that; your opinion and nothing more. X

[weeal]

Truth is that if you spend money that's not yours and dont watch what youre doing with your own ,and get fined for it in some way, its nobody elses fault. The charges are because people spend beyond their means, if there were no charges it would get even more out of hand with people knowing they can spend even more of what they havent got! Ive got to 42 without a credit card and am just a typist. I struggle but keep an eye on it.

[Loosehead]

FYI I come from a council estate on benifits family, 1 of six both parents jail bait, I never had any money I didn't earn myself. Everyone has the same chance in this world, it's spoon fed socialist/Liberal propaganda to suggest otherwise.

I did a full time proper degree and worked evenings and holidays pulling pints mainly, I did my assignments after work. When I left HE I was not in debt, it can be done, discipline!

If you know by going �1 overdrwan your bank is going to charge you �25 then why would you? seems a clear demonstration of intellect to me. The charges you speak of were being added as a result of your actions. I accept the banks take the p155 with them but they are a consequence of YOUR actions.

[cheries]

Wow. Now I understand you a bit better lol xx

[jake-the-peg]

Gosh Loosehead if you can do it then it must be a Liberal myth that people don't have the same opportunities.

Your experience after all must be representative of the whole country.

I wonder then why so many of our PM's and have come from private fee paying schools?

[cheries]

Hee hee. I've fetched my mates!!!!
Lol!!!
Hello Jake x

[Loosehead]

Just saying that it's possible, with endeavour, Jake. I just don't buy the, "life ain't fair mentality", It ain't' fair deal with it!

I seem to remember one John Major who must be the only guy in history to run away from the circus to become an accountant! Besides PM is **** job on low pay, the real talent work in the private sector. Pay peanuts you get monkies! That's why the public sector is full of low paid left activists!

[jake-the-peg]

So you're going back on your statement that "Everyone has the same chance in this world" ?

Or would those paying for an Eaton education really be better sending their children to the local comp?

[jake-the-peg]

Sorry Eton - don't want to get sued by all those lawyers protecting their alta mater

[Loosehead]

Dunno what semantics you are playing at jake but anyway I'm saying that the chance exists if you are willing to work. Too often people give up because they are from what they or indeed their own families percieve as a handicapped existance. I mainitain that a child from the poorest family can got to higher education and get a decent job, perhaps even a spectacular job.

[Oneeyedvic]

I wonder then why so many of our PM's and have come from private fee paying schools?

Sorry Jake but whilst I agree with some of your sentiments, this argument does not hold up:

Brown went to Kirkcaldy, a comprehensive school.

John Major went to Rutlish Grammar School

Thatcher went to Kesteven and Grantham Girls' School (also a Grammar School)

Calagham went to Portsmouth Northern Secondary School

and Wilson went to Royds Hall Secondary School (another Grammar)

Heath went to Chatham House Grammar School

So apart from Blair, you have to go back to Alec Douglas-Home in 1963 before the primeministers were privately educated.



So since

[Oneeyedvic]

To the original question:

I am afraid that I do believe that bank charges are self inflicted. I work in the finance industry and it amazes me how many people do not know how to control their finances.

The banks (like any other business) if they lose this case will simply look to make up their money elsewhere - and this simply means that banks will charge for current accounts (as they do in pretty much every other country and do for business customers)

The irony is that people like myself and Loosehead will be very annoyed about getting charges but it really won't make that much difference - it will be the low wage earners (who can currently run their finances correctly) who will suffer the most.

[Loosehead]

It is indeed an Irony Vic that us prudent souls must be punished for the clueless dummies. Still it was always so I guess.

[jake-the-peg]

I'm not playing semantics Loosehead - I'm just picking you up on an obvious incorrect statement.

You said everyone is born with the same chances and that's obviously not true.

I'm grateful to Vic doing my homework for me but the fact remains that coming from an affluent background is a significant advantage.

You may have meant to say that you can make up for that with ability and hard work - but that's not what you actually said was it?

I think it's also worth noting whilst you're patting yourself of the back for graduating without debt, that if you're of a similar age to myself we had no tuition fees to pay when we studied and if you truely are from the background you claim you would have had a government handout subsistance grant whilst you studied too.

However I do have to take your side (not that you need it) on the grammar front - anyone who want's to get picky on spelling and grammar should do so in Arts and Literature where style can take place over substance.