Bank Charges?

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GreenNeedle

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Funny how the weekend the government takes control of the banking system becoming shareholders in effect, the judge finally rules in the bank's favour.

I don't particularly care any more. I am out of work again so I am going to declare myself bankrupt.

They can't repossess the car because it has been my wife's since last year and she requires it to do her job (I signed it over to her)
They can't repossess my computer (I need it to search for work)
They can't repossess any of my white goods (I have children and therefore they are 'necessary' to the well fare of my children)
They can have 1 of my 2 tellys and sell it for a couple of hundred quid. The other £10k is lost to them.

So stuff the lot. I will keep everything and this idiot government can weigh up what I have paid into the system and never had returned. lol

AC
 

squiggley

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My thought exactly.

It's not exactly the best time for them to repay the expect 9million(billion??)

SuperColey1 said:
Funny how the weekend the government takes control of the banking system becoming shareholders in effect, the judge finally rules in the bank's favour.


AC
 

GreenNeedle

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they've already repaid over 16 million. I think the estimated amount 'stayed' in the court cases ads up to many many billions!!!

AC
 

Egmel

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hellohefalump said:
What a WUNCH OF BANKERS!!! :lol: :lol: :lol: :lol:

I got nearly a grand back from Nationwide :D early last year :D :lol: :lol: :D

What happened was... it was my fault initially. I didn't put a cheque in on time because I forgot to, and then all my direct debits went out and bounced. So I went to the bank, and said 'I'll pay one of the charges if you let me off the rest, it was a mistake... etc etc' and they refused. So then I had no choice. I was heavily pregnant (so no job), and even after I cancelled all the direct debits they were still charging me £25 every month for my unortherised overdraft. So I took them to court, for all my charges in the last six years (quite a lot) plus 8% on top for interest and £80 court costs.

But that was before they starting holding applications because they were doing a trial court case.
Hmmm, as a Nationwide user who doesn't go over her authorised overdraft I find this a little annoying.

I have had one cheque bounce in my entire life and it was when I was 17, I learnt my lesson, Nationwide were great, took pity on me and refunded me the £25 and it didn't happen again.

While I accept that it's more difficult to get to the bank and pay in a cheque when you're heavily pregnant, if that is what you need to do to cover your outgoings then that's what you should do, or ask someone to do for you.

Now maybe it's just me but I don't have all my direct debits going out on one day, that's like keeping all your eggs in one basket, I spread them over the first couple of weeks after my pay goes in. That way if something goes wrong with my pay arriving (as it did at the beginning of this month) I don't find myself trying to pay all my outgoings with nothing. So how long did it take you to notice that you had forgotten to pay in the cheque, before you phoned the bank and explained what had happened?

To compound all this, the fact that you have paid "quite a lot" in charges over the last 6 years it suggests that this isn't the first time this sort of thing has happened.

So while I do sympathise with your predicament, and I agree that the charges are too steep for the events, I find it galling that you stand there and laugh about it. Especially when you know as well as I do that Nationwide are a building society and the money you've got back from them isn't coming out of the pockets of big bankers in London but is instead affecting the costs of banking for people like myself who have learnt to manage their money.

I guess what I'm trying to say is that banking charges are the stick to the carrot of interest on credit. They are there not just to get money back for the banks but also to encourage people to look after their money better. There will always be cases where people should be excused but at some point you need to ask yourself why you are always incurring these charges and what you can do about it to stop it happening.

And before anyone starts saying that it's ok for people with money to say these charges are fair, I am a research student and my take-home grant is near equivalent to the take-home salary of someone working full time on the minimum wage. I don't claim any benefits and the only discount I get that's worth mentioning is paying no council tax. I also live in one of the most expensive areas of the country and I have an active social life, I would by no means say that I am struggling to survive on the money I 'earn'.

Rant over and I hope I haven't offended anyone too much, I just want to see a bit more personal responsibility in this world.
 

GreenNeedle

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Sorry I disagree. If you look at most bank's balance sheets they are tending to abouse the charges system to make themselves profit because on savings accounts they are nowadays having to compete by giving higher interest rates.

20 years ago they made a much larger profit from the gap between their interest rate and the underlying interest rate the government/BofE set whereas now they have to be much closer or they lose all their money.

The question isn't should you get charged for going overdrawn. the question is when something is automated and costs in the region of 30p to process (automated admin) then how can they justify a £30 charge.

This is worsened when they have openly admitted that payments out of account are made on the stroke of midnight whereas payments in are done much later. This is them making sure they catch a few more and make some more profit.

In summary. Yes charge people for going overdrawn. Yes charge them interest on the amount they go overdrawn. But don't take the p*** by charging £30 for 30p admin work (done by an automated franking machine) and don't charge £30 for 0p work when your automated system refuses to pay a DD and automatically sends out an e-mail.

AC
 

Themuleous

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6 Jul 2007
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Aston, Oxfordshire
Cant say I care either way, but lets end this topic? We're all here due to an interest in aquariums. Topics like this can ruin forums. We'd all be worse of it that happened to UKAPS :)

Sam
 
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