Banks & Charges

must be my age, I would rather you posted more Lisa, so I can go Aaaaaaaaaaaaaaaaaaaaah at the babbby!!!

If your a five rover drawn and you geta ten pound fine,mthat sems rather unfair and disproportionate. If the banking regulator, the judicairy and the goverment all side with the banks over this illigal fees then its seems like closing ranks. What this is bout is people power being quashed. Even today the water companies are talking about putting UP water prices becuase of too much rain. Its called profiteering in America and the banks are the worst at it..

Amazingly I agree with Ziggy on this one. I never thought that would happen

Surely there can be a cap introduced on charges to prevent some banks excessive penalties which would benefit customers and banks ?

The banks well aware they are making billions out of customer penalties are just sabre rattling by saying it could trigger the end of free banking. The banking system is highly competitive in this country. If some withdrew free banking, others would try and capitilize.

Ziggy! wrote:

If your a five rover drawn and you geta ten pound fine,mthat sems rather unfair and disproportionate.

Certainly see the emotional logic in that vie ( and would like to recognise an all time first that two consecutive posts have some empathy with Phil ) however the cost to the bank is the same whenever the account goes overdrawn from an administrative view point however you would expect most Bank Managers to have half a brain (I did) and refund any charge like that in the first instance, if it happens repeatedly then maybe not every time.

Not sure of the figures but I would be surprised if it was billions just from penalty charges, most profit comes from other sources withing the banks.

The Times estimates the charges at 5 million !!

WormThatTurned wrote:

The Times estimates the charges at 5 million !!

Guess that made your claim of billions a bit on the high side then

atticusuk wrote:

WormThatTurned wrote:

The Times estimates the charges at 5 million !!

Guess that made your claim of billions a bit on the high side then

Oops

5 billion, even

But what if managers and supervisors are trined to push people into debt by all manner of scams, then cash in on the charges...

Ziggy! wrote:

But what if managers and supervisors are trined to push people into debt by all manner of scams, then cash in on the charges...

Then they are breaking the law.

High Street banking is NOT where the banks make their money.

I know its a small chunk of thier profits but that attitude of debt brings i their profits world-wide. Thats what they are protecting their position this week. Any one who has a small business and banks with a big bank knows what bullies they are and how many 'deliberate' mistakes they make to get you in debt.

And where has it been said that bank workers are making deliberate mistakes to ensure customers rack up charges?

WormThatTurned wrote:

atticusuk wrote:

WormThatTurned wrote:

The Times estimates the charges at 5 million !!

Guess that made your claim of billions a bit on the high side then

Oops

5 billion, even

Still pales into nothing when you consider that HSBC alone will probably set aside £2.7bn for bad debt this year.

Ziggy! wrote:

I know its a small chunk of thier profits but that attitude of debt brings i their profits world-wide. Thats what they are protecting their position this week. Any one who has a small business and banks with a big bank knows what bullies they are and how many 'deliberate' mistakes they make to get you in debt.

Stop taking the drugs you know they make you paranoid.

Our economy is now dependant on people spending on credit and I agree wome people shouldnt be given it,but its evry easy for non debtors to go overdrawn by actions that werent theres.

I would be more worried about how department store staff try to push store cards as a cause of debt, they are targeted by bosses and incentivised to push the cards to anyone making a purchase.

Thats true, the interest rates on some of these store cards are so high Im amazed anybody takes one out

I hate the way ever since we moved house we get loads of phone calls from banks asking us if we want money to buy extra stuff for our house.

And the thing I hate the most is 3 times in the past 3 months I have had phone calls from the worst company EVER, HFC, asking me to take out a loan. They even leave answerphone messages when I am out saying they are HSBC (I believe they are part of the same group) calling about my bank account.

They are really bac (HFC)

Though put your number on the telephone preference service and they are not allowed to call you.

But yes, banks have far bigger figures to worry about that the amount they make in charges. They are big numbers to us, but not to them.

Looks like bank charges on withdrawls are coming:<

.... because of people who will not manage their accounts properly getting HUGE payouts.

Nope. Because the banks have 'vectored in' fraud as profits and dont want to lose that cash.

look up the definition of fraud, would you?

Good news if it means the banks start charging a fair penalty fee for going overdrawn.

The 'end of free banking' threat, I believe is a red herring.