Bank Charges.....they seem fair enough to me

[Trazor]

I remember when my bank gave all it's customers a 'buffer' zone...it was £50 excess over agreed overdraft before penalty charges would be passed and still that wasn't enough for many.

How do you know, do you work for one of the Banks....?

You seem excessively focussed on defending them......

 

[peterpumpkin]

Rest assured there will be no winners in this.
The banks will still want to make vast profits, If they can't make it of the vulnerable, they will try the "free" Current Account holders,
I stay in credit, and I get interest, I can see them trying to stop that.
Then It will be looking round for a better deal.
My bank has already tried to sell me an account that cost £10 a month to run! .....instead of paying me
pp

 

[aspley]

I remember when my bank gave all it's customers a 'buffer' zone...it was £50 excess over agreed overdraft before penalty charges would be passed and still that wasn't enough for many.

How do you know, do you work for one of the Banks....?

You seem excessively focussed on defending them......

As if!! Wash your mouth out

 

[joe-90]

3.If those who err do not pay for the extra work they cause then those who abide by the rules will have to.....i.e. end of free banking.

OK well let's all pay what it costs the banks to carry out the additional work. What exactly IS the cost of a computer generated letter? Whatever the real cost is - we'll pay it. As things stand, those that get hit with charges are paying for YOUR free banking.

What it costs is irrelevant..........the banks tell you what the cost will be and you as an account holder decide if you want to pay by going overdrawn in excess of your facility.
As an example Marks and Sparks will give you as a consumer a price for a garment....they don't then tell you hom much it cost them.I

Of course it is relevant. That is why they are called COSTS. Let those that break the rules pay the TRUE COST of a computer generated letter and you pay for YOUR banking. It has nothing to do with anyone else YOU pay for YOUR banking. Simple innit?

 

[saxondale]

Of course it is relevant. That is why they are called COSTS. Let those that break the rules pay the TRUE COST of a computer generated letter and you pay for YOUR banking. It has nothing to do with anyone else YOU pay for YOUR banking. Simple innit?

says in BIG LETTERS on the forms I filled in when I opened an account


" Go overdrawn or miss a payment and we will charge you a lot of money........"

it was my choice to sign and its my choice to go elsewhere, stop moaning about it

 

[joe-90]

Look out - it's the big shouty thread locker.

 

[saxondale]

Look out - it's the big shouty thread locker.

Joe - i`m the daddy now, learn that and be a good boy

 

[Barsteward]

So speaks Sparky

 

[joe-90]

I knew tweedledee wouldn't be far behind. May as well lock the thread before they start getting abusive.

 

[Barsteward]

Mr Parannoia
Been to get help from your GP yet?

 

[Bilioustrumpstaine]

But why do banks need to make so much money from charges ?

It's a bit like the speeding fine scenario "It's for your own good that we fine you" OK if it's for my own good then take the costs out and give the rest to charity. I will still be deprived of the money and be "punished" but at least the big corporation will not be raking in more dosh to fill their already well lined pockets.

I say again, bank charges are a major revenue stream for the money minders and the basis of these charges has no relevance to their actual incurred costs.

The people who are more likely to suffer are those who are on a low income. If you are skint taking more money away is not exactly helpful is it ?

I put it to that if you suggested to local constabularies that they would see no revenue from speeding fines that you would see a huge reduction in cameras, camera vans, prosecutions, etc etc, exactly the same with banks, if there was no revenue stream they would soon lose interest.

 

[saxondale]

oh FFS

But why do banks need to make so much money from charges ?

why do I get out of bed in a morning - to make money

It's a bit like the speeding fine scenario "It's for your own good that we fine you"

no it isnt at all

OK if it's for my own good then take the costs out and give the rest to charity. I will still be deprived of the money and be "punished"

you need punishing? something you want to share ?

but at least the big corporation will not be raking in more dosh to fill their already well lined pockets.

ah just plain old envy then

I say again, bank charges are a major revenue stream for the money minders and the basis of these charges has no relevance to their actual incurred costs.

of course it doesnt, neither does the cost of my product

The people who are more likely to suffer are those who are on a low income. If you are skint taking more money away is not exactly helpful is it ?

the govt dont help

I put it to that if you suggested to local constabularies that they would see no revenue from speeding fines that you would see a huge reduction in cameras, camera vans, prosecutions, etc etc, exactly the same with banks, if there was no revenue stream they would soon lose interest.

the banks are not a civil service they dont have to provide a thing if they dont want to - its called business

 

[aspley]

OK then.....for all you folks that think the banks are big bad and ugly can't you accept that if you steal or attempt too you should get punished?? and further more that the punishment should be at a level that makes you think again before you do the same thing again.

I think most would suscribe to that ..ok...so tell me what is someone doing when they issue a cheque knowing they aint got enough funds to cover the payment??

 

[joe-90]

Making a mistake?

I don't understand why you can't grasp the notion that the user pays.

If someone goes over their limit they pay the ACTUAL COST that the bank incurs.

As far as your banking goes - that's between you and the bank.

What shouldn't happen, yet has been happening for years, is the vulnerable and poor have been bankrolling your FREE banking.

You pay for it if you want it.

 

[Deluks]

4.You don't get charged for not paying by direct debit.....what you get is a discount if you do.....a subtle difference!!

Taken from BT's website:
Switch to Direct Debit and reduce your bill!
Do you pay your BT bill by cheque, cash or card?
Did you know that if you switch to Direct Debit you'll avoid a £1.50 monthly payment processing fee?*


Worded slightly differently if you are with BT, but largely irrelevant, the point was that if you don't use direct debit, you pay more money.

Go overdrawn or miss a payment and we will charge you a lot of money........"

it was my choice to sign and its my choice to go elsewhere, stop moaning about it

where elsewhere would you go. Do you know of a bank that doesn't apply sizeable charges for being overdrawn?

The truth is that banks will never take away free banking, as it would alienate their good 'in credit' customers, who would take their money to another bank that keeps banking free. They make enough money as it is without overcharging for late fees. The extra profits they make from this just ends up getting spent on bigger bonuses for the bosses and unnecessary refurbs of their branches.