strick206
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Registered: 12th Apr 07
Location: Wigan Drives:Integra DC5
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http://www.moneysavingexpert.com/news/reclaim/2009/11/test
They have ruled in favour of the banks, a shock decision but nothing can be done for the short term now i don't think
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Tom
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Registered: 3rd Apr 02
Location: Wirral, Merseyside
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Wankers. I might try and claim my share of the public money pumped into banks back  £2000 a head isn't it?
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AlunJ
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Registered: 3rd Apr 07
Location: Newport
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quote:
Originally posted by Tom
Wankers. I might try and claim my share of the public money pumped into banks back £2000 a head isn't it?
where do I sign?
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Daimo B
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Registered: 20th Mar 00
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I don't see the issue tbh.
OD is not your money anyway, its a short loan from the bank, an agreed amount you can go into.
If you go over that agreed amount, expect to be charged.
Theres nothing to stop anyone calling the bank, explaining the situation (bill about to come out etc) and them providing a short term extension on your overdraft. If they don't, threaten to leave the bank for a rival.
I'd rather them punish those spending money that isn't theres, than punish all us innocent folk with stupid cash machine charges.
Maybe this will remind some people that when your £450 into your £500 overdraft, you cannot still go out and buy that £200 jacket, or fill your car up with £60 worth of fuel. Maybe it will teach people to manage their money better so everyone isn't in huge amounts of debt..
Or am I missing something here? It just seems like simple common sense to me?
[Edited on 25-11-2009 by VXR]
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Robbo
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Registered: 6th Aug 02
Location: London
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Its the excessive nature iof the charges that is the issue... being charges £35 to be £2 overdrawn? How does that work?
Also, they seem all too pleased to take our money for free?
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micra_pete
Premium Member
Registered: 23rd Apr 03
Location: West Yorkshire
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quote:
Originally posted by VXR
I don't see the issue tbh.
OD is not your money anyway, its a short loan from the bank, an agreed amount you can go into.
If you go over that agreed amount, expect to be charged.
plus some other stuff
I agree.
I have nothing to claim back as I have never gone overdrawn. Its not your money to spend imo. Maybe I should whinge about the money the banks make from me in interest on my mortgage over the term, that’s robbery.
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Daimo B
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Registered: 20th Mar 00
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But your into money you don't own anyway. They don't HAVE to give you and OD, its a privilage they offer you.
If you go over that, expect to be charged.
If I robbed a post office, and got caught by the police, would my sentance depend on how much money I stole?
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stubs
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Registered: 30th Jun 02
Location: Bolton
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quote:
Originally posted by VXR
I don't see the issue tbh.
OD is not your money anyway, its a short loan from the bank, an agreed amount you can go into.
If you go over that agreed amount, expect to be charged.
Theres nothing to stop anyone calling the bank, explaining the situation (bill about to come out etc) and them providing a short term extension on your overdraft. If they don't, threaten to leave the bank for a rival.
I'd rather them punish those spending money that isn't theres, than punish all us innocent folk with stupid cash machine charges.
Maybe this will remind some people that when your £450 into your £500 overdraft, you cannot still go out and buy that £200 jacket, or fill your car up with £60 worth of fuel. Maybe it will teach people to manage their money better so everyone isn't in huge amounts of debt..
Or am I missing something here? It just seems like simple common sense to me?
[Edited on 25-11-2009 by VXR]
I think you're partially right, but what about when the banks apply a charge when you're already overdrawn to the max?
Years ago I never had an agreed overdraft.. I only had a cashline card, wasn't interested in even having a switch card. I was then send a switch card and started to use it for buying fuel (cash for everything else)
I then went overdrawn one month by a couple of £'s as the petrol station didn't debit my account straight away and I thought I had more in my account than I actually did (before I'd started using internet banking). I know I should have been more vigilant and on top of my finances but I wasn't. I was then charged the following month, a couple of days before payday when my account was down to nothing and it sent me overdrawn, for which I was charged again.... it's these sort of tactics by the banks that piss people off - "kick them whilst they're down" attitude
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Ojc
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Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
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It's not the actual charges I have a problem with, but like Orrbo said it's the excessive amount they charge, it's ridiculous and isn't going to help people get themselves out of debt by charging them £35-100
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Daimo B
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Registered: 20th Mar 00
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quote:
Originally posted by micra_pete
I have nothing to claim back as I have never gone overdrawn. Its not your money to spend imo. Maybe I should whinge about the money the banks make from me in interest on my mortgage over the term, that’s robbery.
Exactly. People are moaning about a £30 charge for going OVER and OVERDRAFT faciltiy (I.E BELOW (As in UNDER £0)), but i'd far rather whinge about how much interest im paying every month out of my mortgage. As you sat, thats pure robbery, not a tiny charge for spending money you effectivly don't own anyway.
People need to learn to manage money better. Stop spending more than they earn.
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stubs
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Registered: 30th Jun 02
Location: Bolton
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quote:
Originally posted by VXR
But your into money you don't own anyway. They don't HAVE to give you and OD, its a privilage they offer you.
If you go over that, expect to be charged.
If I robbed a post office, and got caught by the police, would my sentance depend on how much money I stole?
Following the standards set out by the high court: I guess if you rob a post office and get caught, you can appeal to the high court that you cant afford to pay back the money you've taken as it would make you bankrupt and poor.
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John
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Registered: 30th Jun 03
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I agree with the ruling.
Shouldn't encourage people to not give a toss because they'll get it all back at the end.
Don't go into an unarranged overdraft then their charges don't matter.
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Daimo B
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Registered: 20th Mar 00
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quote:
Originally posted by stubs
I know I should have been more vigilant and on top of my finances but I wasn't.
I think u've hit the nail on the head with your own reply there.
You wasn't more vigilant. With money, you should be. If you check your account and see a charge hasn't come out (Moreso before payday when most people are skint), then ring up and arrange something.
[Edited on 25-11-2009 by VXR]
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stubs
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Registered: 30th Jun 02
Location: Bolton
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quote:
Originally posted by VXR
quote:
Originally posted by stubs
I know I should have been more vigilant and on top of my finances but I wasn't.
I think u've hit the nail on the head with your own reply there.
You wasn't more vigilant. With money, you should be.
But the point I was trying to make is that the banks will take their charges out of your account, regardless of if the funds are available... sending you overdrawn and incurring further charges.
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Daimo B
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Registered: 20th Mar 00
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quote:
Originally posted by John
I agree with the ruling.
Shouldn't encourage people to not give a toss because they'll get it all back at the end.
Don't go into an unarranged overdraft then their charges don't matter.
Exactly.
People just ignore, its not their money to spend becuase money has been so freely available the last decade.
Why should the innocent folk get hit with charges for cash machines instead of those too lazy to manage their finances better. Punish the people spending money they don't own, don't punish those that haven't done anything wrong.
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Daimo B
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Registered: 20th Mar 00
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quote:
Originally posted by stubs
But the point I was trying to make is that the banks will take their charges out of your account, regardless of if the funds are available... sending you overdrawn and incurring further charges.
If your already in your OD, u'll get 1 charge, not more becuase you go more into it??? (Unsure on this fact, im assuming? Someone may re-educate me on this?).
If it means NEXT month u'll be harder hit, and encoure another charge, then the simple answer is, you don't go out next month and buy that new top, you don't go out on the razz at the weekend. You have to sacrifice.
NO-ONE out there does absolutly nothing all month, everyone spends money on tat, its what humans do. Its time people learned that sometimes you HAVE to go without your nicey nicey stuff. Cancel your Sky subscribtion, cancel your internet, don't go out. Live on baked beans for a month.
People do it, its just those who want all the good stuff that are suffering. Manage your finances better preparing for the possible problems that may arise (such as petrol coming out). Don't fill up your tank if you only have £5 before payday.
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stubs
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Registered: 30th Jun 02
Location: Bolton
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quote:
Originally posted by VXR
Why should the innocent folk get hit with charges for cash machines instead of those too lazy to manage their finances better. Punish the people spending money they don't own, don't punish those that haven't done anything wrong.
Haven't the banks already punished us? Didn't they recently recieve government funding (tax payers money) because they fucked up spending money they didn't have?
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strick206
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Registered: 12th Apr 07
Location: Wigan Drives:Integra DC5
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Don't think the banks are innocent in all this daimo, they have lost in two courts already and just won in the supreme court
The banks are just as bad as the people who go over drawn
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stubs
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Registered: 30th Jun 02
Location: Bolton
User status: Offline
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quote:
Originally posted by VXR
quote:
Originally posted by stubs
But the point I was trying to make is that the banks will take their charges out of your account, regardless of if the funds are available... sending you overdrawn and incurring further charges.
If your already in your OD, u'll get 1 charge, not more becuase you go more into it??? (Unsure on this fact, im assuming? Someone may re-educate me on this?).
If it means NEXT month u'll be harder hit, and encoure another charge, then the simple answer is, you don't go out next month and buy that new top, you don't go out on the razz at the weekend. You have to sacrifice.
NO-ONE out there does absolutly nothing all month, everyone spends money on tat, its what humans do. Its time people learned that sometimes you HAVE to go without your nicey nicey stuff. Cancel your Sky subscribtion, cancel your internet, don't go out. Live on baked beans for a month.
People do it, its just those who want all the good stuff that are suffering. Manage your finances better preparing for the possible problems that may arise (such as petrol coming out). Don't fill up your tank if you only have £5 before payday.
I'm talking about the days before I used internet banking & opened my mail on time to see what was going on... I had little to no idea about how the banks worked. I wasn't aware that you could go overdrawn even though you dont have an overdraft. The bank punished me for being uneducated and ignorant. I have changed my ways since, but I still don't agree with the way they conduct themselves. Surely they can see what date my wage gets paid in? Hit me with the charge that day, rather than 2 days before, when I don't have the money available to cover the charge.
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MJFF88
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Registered: 30th Apr 08
User status: Offline
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quote:
Originally posted by VXR
I don't see the issue tbh.
OD is not your money anyway, its a short loan from the bank, an agreed amount you can go into.
If you go over that agreed amount, expect to be charged.
Theres nothing to stop anyone calling the bank, explaining the situation (bill about to come out etc) and them providing a short term extension on your overdraft. If they don't, threaten to leave the bank for a rival.
I'd rather them punish those spending money that isn't theres, than punish all us innocent folk with stupid cash machine charges.
Maybe this will remind some people that when your £450 into your £500 overdraft, you cannot still go out and buy that £200 jacket, or fill your car up with £60 worth of fuel. Maybe it will teach people to manage their money better so everyone isn't in huge amounts of debt..
Or am I missing something here? It just seems like simple common sense to me?
[Edited on 25-11-2009 by VXR]
I used my card to buy a couple of packs of 30p chewing gums about a year ago and got charged £35. Go figure
[Edited on 25-11-2009 by MJFF88]
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John
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Registered: 30th Jun 03
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Shouldn't have been buying chewing gum if you didn't even have 60p in your bank.
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Marc
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Registered: 11th Aug 02
Location: York
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I agree with Damsel.
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stubs
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Registered: 30th Jun 02
Location: Bolton
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I suppose what the likes of Daimo are saying is that they want others to pay for their free banking?
If nobody went over their agreed overdraft, then the banks would not be able to apply these charges.. where would they get their money from then?
Surely the day to day running of free banking isn't accounted for by relying on these charges?
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strick206
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Registered: 12th Apr 07
Location: Wigan Drives:Integra DC5
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The banks that have got billions into the shit and have been bailed out by the taxpayer should incur charges each month and a charge per day until they recover from the shit they got themselves in
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Daimo B
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Registered: 20th Mar 00
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Saying about what has happened isn't going to change anything. Talking about bailings out etc isn't going to happen. Thats simply to help our entire nations economy, not a few thousand people who cannot control their personal and much smaller finances.
Stubs, your example was set pre internet days, but as you say times have changed, information is much more easily obtainable.
But your reason WHY you didn't check them still remains for the people who have the problem. They cannot maintain their accounts.
Im not saying I agree with the overdraft price structure, it should be much better (I.E £10 fee for up to x over your overdraft, and higher fees for the more your over), but at the end of the day, the banks are companies.
If you owned a company and someone told you how to run it, u'd defend it too. Look at this from the business side, not as the customer. They are there to make money.
True they have landed the economy in the sh1te, but at the end of the day, its only because they have given people too much money.
I got offered £250,000 for my FIRST mortgage. I could have had that. I have common sense though and didn't need that amount on money, so took nothing like that. People that are most in trouble are the kind of people that took the most they could, could not afford the repayments, and now are in serious financial trouble. If they took a more logical approach, there are ways around it.
I.E, take less money than you have been offered (is this the banks fault, or the person? I blame the person for being greedy, see my above mortgage example). You loose your job. You speak to bank and arrange a mortgage holiday/loan repayment holiday.
Every loan i've had this has been offered. I even took this offer up when I got made redundant after the recession after the twin towers came down. I put my loan on hold for 3 months, knowing i'd have to pay more back, but end of the day sh1t happens, you have to deal with it.
Cashpoints used to be charged when using from another bank, not anymore, you can go to all banks and withdraw money.
In todays society, the fact that the courts have got onside with the masses and not on the minority in doo gooder England, should be applauded, not critisied.
[Edited on 25-11-2009 by VXR]
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