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    Bank charges: OFT giving up.

    OFT say they are not going to persue it any longer.

    They say it would take too long and the odds of success are too low.

    So, for those of us who put our claims in too late, that's it. Forget it. The big boys have got their own way yet again.

    38 Comments

    SuperEd

    yep just seen this on sky news - damn banks

    Banned

    lesson - dont get charged

    simple

    dimebars;7292335

    lesson - dont get chargedsimple



    ^^this

    don't spend what you don't have.................................thats what the banks want you to do

    Original Poster

    Must be great to be rich and/or super-disciplined!

    What about genuine mistakes/oversights? You think it's fair to be charged £35 for a simple mistake?

    deek72;7292514

    Must be great to be rich and/or super-disciplined!What about genuine … Must be great to be rich and/or super-disciplined!What about genuine mistakes/oversights? You think it's fair to be charged £35 for a simple mistake?



    got nothing to do with being rich, its the very simple practice of living within your means.

    If the only money you had was in your pocket, how would you spend more than that..........:whistling:

    Banned

    deek72;7292514

    Must be great to be rich and/or super-disciplined!What about genuine … Must be great to be rich and/or super-disciplined!What about genuine mistakes/oversights? You think it's fair to be charged £35 for a simple mistake?



    Not rich here. Absolutely nothing to do with being rich. Its do to with running your account and finances in the correct manner.

    What 'simple' mistake would result in a £35 charge? Most banks will refund the charge the first time you make the 'simple' mistake. If you are not getting your charges refunded then me thinks you may be habitually breaking the rules. If thats the case then the banks have every right to charge you

    Original Poster

    Yes, I know what you're both saying but the banks seem to sieze any opportunity to extort every penny they can from you. Ok, so if you go overdrawn by a few pennies, or make a mistake and end up slightly OD, then maybe they are right to charge you £35 (debateable imo). But then sometimes that £35 charge could mean you go overdrawn again, so they charge you another £35 and it can go on.....is that fair?
    I'm not poor myself and I never go overdrawn, however I'm speaking for those who are maybe single parent families, or working for minimum wage. It's not always easy to stretch a little money far enough to pay for your needs.
    These are the people who can least afford to pay these charges.
    And anyway, the very fact that the OFT intervened in the first place suggests that a very large number of people disagree with your opinions that it's fine and dandy for the banks to fleece the little man.

    Banned

    I never defended the amount the banks charge

    I merely stated that if you ran your account properly then it wouldnt happen

    'Simple' mistakes do not cause you to be charged ridiculous amounts. Repeated mistakes do.

    If you havent learned your lesson after the first £35 charge then you shouldnt have money to be in charge of

    deek72;7292696

    Yes, I know what you're both saying but the banks seem to sieze any … Yes, I know what you're both saying but the banks seem to sieze any opportunity to extort every penny they can from you. Ok, so if you go overdrawn by a few pennies, or make a mistake and end up slightly OD, then maybe they are right to charge you £35 (debateable imo). But then sometimes that £35 charge could mean you go overdrawn again, so they charge you another £35 and it can go on.....is that fair?I'm not poor myself and I never go overdrawn, however I'm speaking for those who are maybe single parent families, or working for minimum wage. It's not always easy to stretch a little money far enough to pay for your needs. These are the people who can least afford to pay these charges.And anyway, the very fact that the OFT intervened in the first place suggests that a very large number of people disagree with your opinions that it's fine and dandy for the banks to fleece the little man.



    this is easily solved, have your bank account set-up so it declines your card when you try to spend more than you have.

    :thumbsup:

    Original Poster

    Not forgetting the fact that the banks themselves all but conceded that the charges were over the top. Why else would they have paid out £millions in 'goodwill' gestures to those who had claimed? It was only when it started to become common knowledge and more and more people jumped on the bandwagon that the banks thought 'hang on a minute, if we repay all these people, we're gonna be skint!'.
    The banks must be rubbing their hands and mopping their brows at the same time.

    Here we go again....... :whistling:

    Original Poster

    aardvarking;7292865

    Here we go again....... :whistling:



    It does say 'bank charges' in the thread title.........:thumbsup:

    deek72;7292898

    It does say 'bank charges' in the thread title.........:thumbsup:



    it also says 'giving up'

    deek72;7292898

    It does say 'bank charges' in the thread title.........:thumbsup:


    Heh I'm not getting involved this time ;-)

    Banned

    Alfonse;7292349

    ^^this don't spend what you don't … ^^this don't spend what you don't have.................................thats what the banks want you to do



    That's hugely questionable, to the point of being completely wrong but that's besides the point.

    Don't you have credit cards or any other 'borrowings'?

    FilthAndFurry;7293127

    That's hugely questionable, to the point of being completely wrong but … That's hugely questionable, to the point of being completely wrong but that's besides the point.Don't you have credit cards or any other 'borrowings'?



    nope don't use credit card.

    have a mortgage thats it

    its not wrong at all, month to month you should spend within your means, unless of course all the finance and debt helplines and services are wrong also with this advice

    :roll:

    Banned

    Alfonse;7293155

    nope don't use credit card.have a mortgage thats itits not wrong at all, … nope don't use credit card.have a mortgage thats itits not wrong at all, month to month you should spend within your means, unless of course all the finance and debt helplines and services are wrong also with this advice:roll:



    So how do you pay for things online? Credit cards give better protection and fringe benefits that I don't think you'll find on debit cards.:?

    FilthAndFurry;7293196

    So how do you pay for things online? Credit cards give better protection … So how do you pay for things online? Credit cards give better protection and fringe benefits that I don't think you'll find on debit cards.:?



    what has that got to do with living beyond your means???????????????????

    really

    Banned

    Alfonse;7293208

    what has that got to do with living beyond your … what has that got to do with living beyond your means???????????????????really



    Nothing, but I just don't believe why any sensible person would eschew the protection a credit card gives if they're supposedly 'financially responsible'.:thinking:

    FilthAndFurry;7293266

    Nothing, but I just don't believe why any sensible person would eschew … Nothing, but I just don't believe why any sensible person would eschew the protection a credit card gives if they're supposedly 'financially responsible'.:thinking:



    being financially responsible is still not spending beyond your means whatever card you use....

    com'on

    Banned

    Alfonse;7293284

    being financially responsible is still not spending beyond your means … being financially responsible is still not spending beyond your means whatever card you use....com'on



    Each to their own.

    FilthAndFurry;7293299

    Each to their own.



    FACT its basic maths, if you spend more than you have coming in you are not being responsible

    its not a preference, or each to their own fancy, its a FACT

    Banned

    Alfonse;7293323

    FACT its basic maths, if you spend more than you have coming in you are … FACT its basic maths, if you spend more than you have coming in you are not being responsibleits not a preference, or each to their own fancy, its a FACT



    FACT - that sounds boring.

    But like I said, each to their own:thumbsup:

    FilthAndFurry;7293345

    FACT - that sounds boring.But like I said, each to their own:thumbsup:



    lol someone doesn't have the basic concept of maths

    and your fact is your opinion so actually its not fact at all

    Banned

    Alfonse;7293356

    lol someone doesn't have the basic concept of mathsand your fact is your … lol someone doesn't have the basic concept of mathsand your fact is your opinion so actually its not fact at all



    I don't quite see what the problem is with spending money on something and then gradually paying it off.

    FilthAndFurry;7293394

    I don't quite see what the problem is with spending money on something … I don't quite see what the problem is with spending money on something and then gradually paying it off.



    what!!

    when was arranged borrowing ever brought up in this?

    This thread is about bank charges and how those bank charges are incurred.................


    what are you going on about.

    Alfonse;7293416

    what!!when was arranged borrowing ever brought up in this?This thread is … what!!when was arranged borrowing ever brought up in this?This thread is about bank charges and how those bank charges are incurred.................what are you going on about.


    Since When??!
    This thread is about the OFT giving up the case...nothing about how charges are incurred! :santa:

    aardvarking;7293441

    Since When??!This thread is about the OFT giving up the case...nothing … Since When??!This thread is about the OFT giving up the case...nothing about how charges are incurred! :santa:



    ok OFT give up on bank charges now what, it cannot be discussed how they are incurred.

    fine by me

    Dude reread your posts its quicker than quoting all your posts.

    cassidy04;7293517

    Dude reread your posts its quicker than quoting all your posts.



    quote me where I am wrong about spending beyond your means, don't bother replying if you can't

    Alfonse;7293527

    quote me where I am wrong about spending beyond your means, don't bother … quote me where I am wrong about spending beyond your means, don't bother replying if you can't



    http://rlv.zcache.com/village_idiot_tshirt-p235809987635077340t5hl_400.jpg

    lol its the copyright thief

    but still you couldn't quote me either

    n1

    Alfonse;7293582

    lol its the copyright thiefbut still you couldn't quote me eithern1



    [email protected] worst troll ever,very very poor....best bow out gracefully

    narrow minded people make me sick - banks are merciless money making enterprises who are only providing a service to their shareholders

    it's oh so easy for people to criticise and support the banks whose high standards of practice and code of conduct has brought this country to its knees

    no doubt the banks will continue to charge people who have lost their jobs due to the recession caused by them.

    no doubt the banks will continue to implement excessive penalties to those missing their mortgage payments becuse of involuntary redundundancies, and the banks would never kick a family out of their home, sell the home at auction for a fraction of it's worth just so that they can make back their own money

    we should all take moral guidance from the actions of british banks that currently owe over £3000 per head to every person in the UK

    i'd be happy to consider this unathorised borrowing and implement a penalty system, similar to their 'fair' system

    so at about £2000 of charges to a close friend of mine accumilated after losing his job due to the recession which he could not afford repayments/bills/food/clothes for himself, his partner and his children when his actual unathorised overdraft amounts added up to less than £100 in TOTAL - over 20 times the amount in interest

    So if my calcs are correct, the banks owe me (and everyone else in this godforsaken country) £3000 which I do not agree to

    3000 x 20 = £60,000

    not so fair and reasonable now is it - and also, you don't have a choice to go over your overdraft facility

    they just take you over your and charge you their rates regardless!

    boothy;7293639

    [email protected] worst troll ever,very very poor....best bow out gracefully



    lol i'm the troll, and your valid contribution to this thread using your immense intellect is only to call me a village idiot, ooh as you put very graceful (hyprocritical). Unfortunately I don't live or come from a village so its an emtpy insult.

    but I'm sure you'll cut me further with your razor sharp wit

    uksel;7297731

    narrow minded people make me sick - banks are merciless money making … narrow minded people make me sick - banks are merciless money making enterprises who are only providing a service to their shareholdersit's oh so easy for people to criticise and support the banks whose high standards of practice and code of conduct has brought this country to its kneesno doubt the banks will continue to charge people who have lost their jobs due to the recession caused by them.no doubt the banks will continue to implement excessive penalties to those missing their mortgage payments becuse of involuntary redundundancies, and the banks would never kick a family out of their home, sell the home at auction for a fraction of it's worth just so that they can make back their own moneywe should all take moral guidance from the actions of british banks that currently owe over £3000 per head to every person in the UKi'd be happy to consider this unathorised borrowing and implement a penalty system, similar to their 'fair' systemso at about £2000 of charges to a close friend of mine accumilated after losing his job due to the recession which he could not afford repayments/bills/food/clothes for himself, his partner and his children when his actual unathorised overdraft amounts added up to less than £100 in TOTAL - over 20 times the amount in interestSo if my calcs are correct, the banks owe me (and everyone else in this godforsaken country) £3000 which I do not agree to3000 x 20 = £60,000not so fair and reasonable now is it - and also, you don't have a choice to go over your overdraft facilitythey just take you over your and charge you their rates regardless!



    exactly why I didn't want the banks bailed out and why I give them nothing.

    Alfonse;7299275

    lol i'm the troll, and your valid contribution to this thread using your … lol i'm the troll, and your valid contribution to this thread using your immense intellect is only to call me a village idiot, ooh as you put very graceful (hyprocritical). Unfortunately I don't live or come from a village so its an emtpy insult.but I'm sure you'll cut me further with your razor sharp wit



    no need troll,you have cut yourself plenty of times recently,to do it anymore would be cruel

    boothy;7299322

    no need troll



    then stop following me into threads bet you cannot refrain thus making you a troll

    we shall see how predictable you are
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