FabSwingers.com forum: Why Do Banks

By (user no longer on site) OP
over a year ago

charge me an insufficient funds fee on money they already know I don't have?

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By (user no longer on site)
over a year ago

"charge me an insufficient funds fee on money they already know I don't have?

because they have to make their bonuses somehow!!!

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By (user no longer on site)
over a year ago

that bugs me so much!!! insuffucient funds so we will take 35 quid from you for sending an email robbing bass...............

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By *mumaWoman
over a year ago

Livingston

cos they are money grabbing gits!!!

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By *riendlyfunfemWoman
over a year ago

A world of my own

Agree with mznwty and _muma, fecking hate banks especially the one with a black horse logo

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By (user no longer on site)
over a year ago

i was 8p as in eight pence overdrawn and they tried to charge me £35!!!!

i went down explained that there was no way they could justify it blah blah and got the charge dropped. most banks will drop 2 charges per year if you complain loudly enough xx

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By (user no longer on site)
over a year ago

Does anyone know what happened in the trial case against the banks about all this?

I believe you can claim most of them back now?

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By (user no longer on site) OP
over a year ago

"Does anyone know what happened in the trial case against the banks about all this?

I believe you can claim most of them back now?"

The banks won their appeal and the OFT decided not to pursue it

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By (user no longer on site)
over a year ago

Shop around as some still dont hit you with big charges.

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By (user no longer on site)
over a year ago

"Does anyone know what happened in the trial case against the banks about all this?

I believe you can claim most of them back now?

The banks won their appeal and the OFT decided not to pursue it"

So does that mean you cannot claim them back any more?

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By (user no longer on site)
over a year ago

Why did the bank in which the wife and I hold a joint account, want to charge me an APR of 24.9% on a ten grand loan, but they gave the same loan to the wife at 14.9%APR ?

Answer

Because they can

Then Barclaycard, send me an email and a text, telling me that MY credit limit had changed. "Nice", I thought, until I rang them only to be told that they've reduced it from 1000 quid to 700 !

Why ?

According to them it's because they are trying to help prevent me from getting into trouble with my repayments, but hang on ! My balance is just over 900 quid at the moment and they've reduced my limit to 700 quid so now I'm 200 quid over my limit! wtf

As you can imagine, there were a few choice words to Barclycard over the phone.

But of course, in their terms and conditions, they are allowed to do this. When asked for a reason - they cannot tell me - it's due to information received from credit reference agencies.

I suspect it's because a search was done on my name for the 10 grand bank loan (which I didn't take up due to the APR)

Law unto themselves banks are !!

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By (user no longer on site)
over a year ago

"Does anyone know what happened in the trial case against the banks about all this?

I believe you can claim most of them back now?

The banks won their appeal and the OFT decided not to pursue it

So does that mean you cannot claim them back any more?"

apparently you can pursue as an individual and if you can prove hardship.

Quite a few cases being allowed on that basis at the moment fortunately or unfortunately i dont qualify as i would love to get all the money they had back

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By (user no longer on site)
over a year ago

"Does anyone know what happened in the trial case against the banks about all this?

I believe you can claim most of them back now?

The banks won their appeal and the OFT decided not to pursue it

So does that mean you cannot claim them back any more?

apparently you can pursue as an individual and if you can prove hardship.

Quite a few cases being allowed on that basis at the moment fortunately or unfortunately i dont qualify as i would love to get all the money they had back

Thank you, do you happen to know what counts as hardship too?

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By (user no longer on site)
over a year ago

"Does anyone know what happened in the trial case against the banks about all this?

I believe you can claim most of them back now?

The banks won their appeal and the OFT decided not to pursue it

So does that mean you cannot claim them back any more?

apparently you can pursue as an individual and if you can prove hardship.

Quite a few cases being allowed on that basis at the moment fortunately or unfortunately i dont qualify as i would love to get all the money they had back

Thank you, do you happen to know what counts as hardship too? "

That well known money site has all the details .

good luck

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By (user no longer on site)
over a year ago

Why not try managing your affairs properly? Works wonders. Taking money which isn't yours and which no one has agreed to lend you is stealing.

Bankers are a bunch of vile bloodsucking raptors. It's all in the contract you agreed so it shouldnt be a suprise when you get bitten.

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By (user no longer on site)
over a year ago

wow i wish i could be as perfect as you!!

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By (user no longer on site)
over a year ago

Just a matter of controlling the urge to consume decadent western consumer goods long enough to read the contract

I work hard, can't afford to waste it

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By (user no longer on site)
over a year ago

"Just a matter of controlling the urge to consume decadent western consumer goods long enough to read the contract

I work hard, can't afford to waste it

Whether or not we are as prudent as you, the point still remains... is it really on for them to take £35 off you just because you went £1 over your limit, despite the fact that yes it is in the contract. You'll find though that it's in every banks contract, so it's not like we get a choice do we?

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By (user no longer on site)
over a year ago

my solution is fook the bank and buy a piggy bank....easey peasey lemon squeezy

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By (user no longer on site)
over a year ago

Bastard Black Horse Bank charged me £60 on an unauthorised overdraft which they were to blame for.

I took great satisfaction in telling their financial advisor where to go when a policy that matured last october was finally paid in this month.

I "advised" him to get my money paid in quicker and leave it up to me how best to spend it... and to erase any charges!

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By (user no longer on site)
over a year ago

whatever the circumstances i think its wrong for the banks to behave in this manner . if i lend my mate a tenner for a pint , and then come back in a couple of weeks and say i want my tenner , plus 20 quid he would kick my head in , but seems this is the way the business world works , they getting feck all sympathy from me robbing b*****ds

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By *ugby 123Couple
Forum Mod
over a year ago

O o O oo

But they are a business , business are out to make money.

Happily we have not been in the position of any bank charges, but I am amazed at how much they are charging !!

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By (user no longer on site)
over a year ago

Banks are in it too make money so will charge what they want when they want. Why else would bankers rhyme with wankers?

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By (user no longer on site)
over a year ago

"whatever the circumstances i think its wrong for the banks to behave in this manner . if i lend my mate a tenner for a pint , and then come back in a couple of weeks and say i want my tenner , plus 20 quid he would kick my head in , but seems this is the way the business world works , they getting feck all sympathy from me robbing b*****ds

true - but try telling your mate before he vorrows the money that he will need to pay back 30 - then it's his decision to borrow or not - and accept the terms - your mate is an adult after all

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By (user no longer on site)
over a year ago

Why not try managing your affairs properly? Works wonders. Taking money which isn't yours and which no one has agreed to lend you is stealing.

Chris- dont be so sanctimonious. Daft statements like that will come back to bite you in the arse.

By the way speaking of borrowing money that isnt yours should we the taxpayers have left all the banks to go to the wall instead of bailing them out? They took money that wasnt their's.

Whacking on massive charges on people who can least afford it is a trademark of UK banks, and their ill-considered lending has meant we are the one of the most debt-ridden nations on earth.

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By (user no longer on site)
over a year ago

true - but try telling your mate before he vorrows the money that he will need to pay back 30 - then it's his decision to borrow or not - and accept the terms - your mate is an adult after all"

Good argument, but then you'd have to throw in the fact that every single one of his mates is giving the same deal... so if he really needs the money, what choice does he have?

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By (user no longer on site)
over a year ago

hmm yeah i know what your saying , but doesnt make it right , i understand business needs to make money but seriously ripping off folk that cant afford to be ripped off ??? they could no give such silly bonuses for a start maybe no dabble as much in effectively what is a massive one arm bandit , they could do what we all been told to do and save a bit of cash instead of pissing on the unfortunate and the poor from a great height . ohh emm aye seriously though if i was my mate i wouldnt bother with the money lol

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By (user no longer on site)
over a year ago

I used to work for a bank and seeing the charges was incredible. Some of the folks I talked to had literally hundreds of pounds worth of charges.

Yes all those charges were applied in accord with the terms and conditions. And no it doesnt make it right either.

They are really the last people to be lecturing anyone on managing money given the recent situations that led to the govt bailing them out.

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By (user no longer on site)
over a year ago

Having got into severe financial difficulties when my 1st marriage broke up I am in the position of not being able to get credit anywhere, from anyone. As a result of that I have a basic bank account that prvides a cash card only, no overdraft and no borrowings. I've lived like this for five years now and it's now second nature for me to withdraw any money I need from cash machines in anticipation of when I'll need it. I've also learned that one can survive quite easily without credit which prevents me from getting into any further difficulties. I am sure in my mind that when my credit rating is repaired in a few years time that the flood of mail offering me credit cards etc will go the same way that every other piece of junk mail I get goes - in the bin.

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By (user no longer on site)
over a year ago

"Just a matter of controlling the urge to consume decadent western consumer goods long enough to read the contract

I work hard, can't afford to waste it

as do the rest of us!! consumerism you must be havin a laugh!! i was 8p overdrawn i dont have an overdraft and believe me im sensible with my money iv no other option!!

i dont buy into the rewards account rip off and i dont live outwith my means but to be charged 35 quid for the one time i did end up overdrawn because of somethin outwith my control is just sheer ripping the piss!!

funnily enough when they had messed up a date i had set up a standin order for and takin it out of my account 2 days early they werent so quick to respond to their error!

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By (user no longer on site)
over a year ago

Long long before all of this 'unfair contract' OFT court case etc was ever big news, I had a business account, 1984 -1999 and one day I called the bank to cancel a direct debit, then a few days later, closed up shop and went on 3 weeks holiday.

When I got back and checked the business mail, all I had was people complaining that their direct debit had not been paid, so after a bit of checking around I called the bank.

Oh yes, they'd cancelled the direct debit alright, but they'd cancelled all the rest as well, so you can imagine my delight at faithfully reproducing one of their 'Dear John' letters and charging THEM for the extra work involved in managing the account due to THEIR error.

They paid me as well, I think at the time it was about 25 quid per failed transaction on a Midland Bank business account.

There were about 20 Direct Debits which failed

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