BANK CHARGES.

[Miller Jambo 60]

Anyone know when the final ruling on these rip off charges are going to be made.

And will this include credit card charges.

[chester copperpot]

Anyone know when the final ruling on these rip off charges are going to be made.

And will this include credit card charges.

 

 

 

January.

[Cal_]

Just noticed i've been fined ?20 for going below my overdraft limit.

 

Can i claim this back?

 

Also having got back above my overdraft limit, this fine took it back below n they fined me again! What about that fine?

[Therapist]

I can't stand whingers who moan about this. Manage your account properly and you won't be charged. It's simple really.

 

If the January ruling goes against the banks they will start charging for accounts. So the vast majority will suffer due to the incompetence of the few.

[Walter Payton]

I can't stand whingers who moan about this. Manage your account properly and you won't be charged. It's simple really.

 

If the January ruling goes against the banks they will start charging for accounts. So the vast majority will suffer due to the incompetence of the few.

 

I've always said you talk a lot of sense Therapist. You should charge for advice as good as this.

[Deek]

I heard this morning that HBOS is in serious trouble again. There cash flow is running dry. One of my friends has just transferred ?25,000 to an account with Lloyds TSB as apparently they will not be affected as much by the credit crunch as they did not involve themselves as much in the mortgage business.

 

Watch this space. If you bank with HBOS and they lose the bank charges case they may have nothing to return to you.

[Do The Dance]

I can't stand whingers who moan about this. Manage your account properly and you won't be charged. It's simple really.

 

If the January ruling goes against the banks they will start charging for accounts. So the vast majority will suffer due to the incompetence of the few.

 

It's a difficult situation - as is anything like this. I don't go over my overdraft, but I feel for the people who occasionally do by a few pence to be charged 30 odd quid (which is far and beyond what it costs the bank). However, if you are conitinually going over your limit, as you simply can't afford to spend what you do, then what have you got to moan about?

[The People's Chimp]

I can't stand whingers who moan about this. Manage your account properly and you won't be charged. It's simple really.

 

If the January ruling goes against the banks they will start charging for accounts. So the vast majority will suffer due to the incompetence of the few.

 

Frankly I'll be delighted if my years of student profligacy, partying and expensive jackets, beers, cash back and overdrafts are rewarded with the pay off they so richly deserve.

[inspector]

FSA Web-site state that they are not dealing with anymore referrals concerning bank charges until the appeal by the banks has been heard. Didn't mention when that was due though.

[Super T]

The appeal from the banks is not to do with wether they should pay money. It is purely to do whether these could actually be tested in court. If the appeal is lost there would still be another court case after this.

 

And

 

No, Credit Cards are not included in this ruling. They have already been ajudged to have been unfair and their charges have dropped after review at least a year and a half ago.

[Super T]

I heard this morning that HBOS is in serious trouble again. There cash flow is running dry. One of my friends has just transferred ?25,000 to an account with Lloyds TSB as apparently they will not be affected as much by the credit crunch as they did not involve themselves as much in the mortgage business.

 

Watch this space. If you bank with HBOS and they lose the bank charges case they may have nothing to return to you.

 

I wouldn't be as confident that Lloyds are in any better a state than HBoS, or many others for that matter.

If they view their not safe with HBoS they should be paying a visit to somewhere like HSBC.

[Captain Canada]

Sure I read somewhere that credit card charges can now only be a max of ?12. Trouble is that the majority of the credit card companies have raised their interest rates to compensate for the loss in revenue. A similar thing will happen with the banks if the ruling goes against them - they will just stop free bank accounts and charge us for the privilege of looking after (i.e. investing) our money.

[Deek]

I wouldn't be as confident that Lloyds are in any better a state than HBoS, or many others for that matter.

If they view their not safe with HBoS they should be paying a visit to somewhere like HSBC.

 

I wonder who you vote for? My information which is extremely well placed is confident that Lloyds TSB will not be dragged down by the credit crunch.

[Maximus]

http://www.abcul.org/page/index.cfm

[slashishere]

I can't stand whingers who moan about this. Manage your account properly and you won't be charged. It's simple really.

 

If the January ruling goes against the banks they will start charging for accounts. So the vast majority will suffer due to the incompetence of the few.

 

Im delighted to finally agree with you over something!

[coppercrutch]

I wonder who you vote for? My information which is extremely well placed is confident that Lloyds TSB will not be dragged down by the credit crunch.

 

Very few people really know the facts. However Lloyds apparently did not have as many fingers in the 'free money' MBS/CDO etc.. pie as other banks. Still who knows.

 

There have been rumours about pretty much every bank out there.

 

A & L and B & B are probably the worst in the UK. Even a few weeks back the A & L Chairman said they would have trouble remaining a viable business if the Santander takeover was not accepted...

 

HBOS have serious exposure to all aspects of the UK mortgage market - which is in serious trouble.

 

In essence all banks are in big trouble. Just how big ? Well that is the worrying thing.

 

Have a read of the following:

 

http://news.hereisthecity.com/news/business_news/8192.cntns

 

According to an analysis by JPMorgan Chase, the Bear Stearns debacle earlier this year could have brought down Lehman Brothers, Merrill Lynch and Morgan Stanley.

 

So why didn't it happen ?

 

"JPMorgan decided to proceed with its Bear rescue, partly due to pressure from the US Federal Reserve, and partly because Bear could be picked-up for a steal"

 

I think we know which part of that was the deciding factor. Why would they buy one for a 'steal' when they could have waited and got 3 for even less*...

 

The World's banking system is only ever minutes away from complete collapse.

 

Confidence fails = it fails. Simple as that.

 

Northern Rock went from being a bank making 700 million profit to bankrupt in a few hours. As soon as the pictures were on the TV of queues outside that was it - Bankrupt.

 

Why do you think when a Bank is in trouble they have a multi Billion pound rescue deal in place within hours. For any other industry it would take months or years...

 

Anyway not much we can do about it !!

 

* Edit - Note to add The Fed is actually a Private Bank and JPM are one of the key 'owners'. How convenient....

[davemclaren]

I heard this morning that HBOS is in serious trouble again. There cash flow is running dry. One of my friends has just transferred ?25,000 to an account with Lloyds TSB as apparently they will not be affected as much by the credit crunch as they did not involve themselves as much in the mortgage business.

 

Watch this space. If you bank with HBOS and they lose the bank charges case they may have nothing to return to you.

 

I think your friend would be better moving for better interest rates for that sort of money.

 

http://www.fscs.org.uk/consumer/faqs/deposit_claims_faqs/

[Deek]

I think your friend would be better moving for better interest rates for that sort of money.

 

http://www.fscs.org.uk/consumer/faqs/deposit_claims_faqs/

 

He has ?55,000 in the account Dave which and only moved ?25,000 for the reason you have pointed out.

 

If HBOS did crash do you think the government could bail their customers out?It It is after all huge compared to Northern Rock.

[chester copperpot]

I can't stand whingers who moan about this. Manage your account properly and you won't be charged. It's simple really.

 

If the January ruling goes against the banks they will start charging for accounts. So the vast majority will suffer due to the incompetence of the few.

 

 

 

Banks are already charging for basic accounts mate.

 

Actually no they aren't. But they're forcing customers to pay for bank accounts in the near future.

 

Watch this space.

[coppercrutch]

I think your friend would be better moving for better interest rates for that sort of money.

 

http://www.fscs.org.uk/consumer/faqs/deposit_claims_faqs/

 

Dave if you actually put any faith in that I am disappointed.

 

This scheme is retrospective. There is not a massive pot of cash sitting there to bail banks out. If a bank went bust and, say owed its customer 30 billion in deposits , all the other banks would be asked to cough up to cover it.

 

Oh woops, the banks don't seem to have a very good capital base at present.

 

Confidence, and nothing else, rules the Banking system.

 

Still no point worrying about it.

[davemclaren]

Dave if you actually put any faith in that I am disappointed.

 

This scheme is retrospective. There is not a massive pot of cash sitting there to bail banks out. If a bank went bust and, say owed its customer 30 billion in deposits , all the other banks would be asked to cough up to cover it.

 

Oh woops, the banks don't seem to have a very good capital base at present.

 

Confidence, and nothing else, rules the Banking system.

 

Still no point worrying about it.

 

Nnothing is 100% and, yes, confidence is everything in the financial world. Hwoever, I don't lose any sleep over money I have with UK ( or even Icelandic ) banks. It's riskier crossing the road.

[Cal_]

I can't stand whingers who moan about this. Manage your account properly and you won't be charged. It's simple really.

 

If the January ruling goes against the banks they will start charging for accounts. So the vast majority will suffer due to the incompetence of the few.

 

Where was i 'moaning'? I was simply asking a question.

 

I get paid in drips and drabs and spent likewise so don't always know how much is in my account. If the monies not there, why do they let me take it out?

[J.T.F.Robertson]

Is it not analogically true;

 

Debt; CN Tower high.

 

Total currency on planet; height of the ceiling in my hoose. (give or take a few feet)

 

It was never meant to be called in. As you say, it's all based around an illusion, or "confidence", as you put it.

[coppercrutch]

Nnothing is 100% and, yes, confidence is everything in the financial world. Hwoever, I don't lose any sleep over money I have with UK ( or even Icelandic ) banks. It's riskier crossing the road.

 

Indeed no point worrying about it. However good to know the score. Even if it is just so you can bore people on internet chat forums....

 

Is it not analogically true;

 

Debt; CN Tower high.

 

Total currency on planet; height of the ceiling in my hoose. (give or take a few feet)

It was never meant to be called in. As you say, it's all based around an illusion, or "confidence", as you put it.

 

Of course. However one day it will be, and the whole World's financial system will collapse. I just hope it's not in the next 50 years.

[J.T.F.Robertson]

Of course. However one day it will be, and the whole World's financial system will collapse. I just hope it's not in the next 50 years.

 

I've always thought that and I understand as much about string theory, as I do economics.

Is it not true though, that if the money was actually in existence to cover it, the debt itself would not be the problem it is? (or would that mean there would be no need for debt in the first place? )

[coppercrutch]

I've always thought that and I understand as much about string theory, as I do economics.

Is it not true though, that if the money was actually in existence to cover it, the debt itself would not be the problem it is? (or would that mean there would be no need for debt in the first place? )

 

This is all too much for a Friday night...

 

But yes I think you have jist. The numbers on our computer screens and bits of paper are just that - Numbers on computer screens and bits of paper.

 

Nothing actually backs them up.Which is fine if everything goes fine, but not very nice if everyone works it out...

 

I think.

[Deek]

This is all too much for a Friday night...

 

Agreed.

 

I think some members who have a vested interest or who work for the banks are putting on a brave face.

[J.T.F.Robertson]

This is all too much for a Friday night...

 

But yes I think you have jist. The numbers on our computer screens and bits of paper are just that - Numbers on computer screens and bits of paper.

 

Nothing actually backs them up.Which is fine if everything goes fine, but not very nice if everyone works it out...

 

I think.

 

therefore I am. (confused)

[davemclaren]

Agreed.

 

I think some members who have a vested interest or who work for the banks are putting on a brave face.

 

Most people have a vested interest one way or other.

 

However, I still think cash deposits in UK banks are very safe.

 

My own, non expert, thoughts are that a major bank going bust would still have a lot of assets. Not sufficient to cover all their liabilities but the FSCS, the government or whoever wouldn't have to cover everything. Let's hope we don't have to find out what would happen in such a scenario.

[coppercrutch]

Agreed.

 

I think some members who have a vested interest or who work for the banks are putting on a brave face.

 

I see that a lot.

 

The Banks pay me at present. Whilst not working for them they do pay me. Still I can see the bigger picture. It doesn't look healthy.

 

Got almost all my savings in Treasury backed inflation linked certificates. As well as a little in some gold companies shares - because they should be flying right now...apparently....

[coppercrutch]

Most people have a vested interest one way or other.

 

However, I still think cash deposits in UK banks are very safe.

 

My own, non expert, thoughts are that a major bank going bust would still have a lot of assets. Not sufficient to cover all their liabilities but the FSCS, the government or whoever wouldn't have to cover everything. Let's hope we don't have to find out what would happen in such a scenario.

 

We already have....

 

NR were a fairly large bank. 8th Largest in the UK IIRC.

 

The outcome showed us that the Government would do pretty much anything other than let a big Bank go under.

 

Whilst that should make you feel safer it actually does the opposite for me. It just shows how much of a scam the whole thing is. One day people will work it out. Now that will be scary...

[J.T.F.Robertson]

Most people have a vested interest one way or other.

 

However, I still think cash deposits in UK banks are very safe.

 

My own, non expert, thoughts are that a major bank going bust would still have a lot of assets. Not sufficient to cover all their liabilities but the FSCS, the government or whoever wouldn't have to cover everything. Let's hope we don't have to find out what would happen in such a sceneario.

 

Any major bank going bust, (and I'm sure I saw somewhere last week, some "expert" predicting this for one of the States' biggest, although he didn't name it) as jittery as things are at the moment, could lead to a run on the others and presto, the domino effect. (or instant socialism)

[davemclaren]

Any major bank going bust, (and I'm sure I saw somewhere last week, some "expert" predicting this for one of the States' biggest, although he didn't name it) as jittery as things are at the moment, could lead to a run on the others and presto, the domino effect. (or instant socialism)

 

It's hard work trying to sleep with all your cash under your pillow though.

[J.T.F.Robertson]

It's hard work trying to sleep with all your cash under your pillow though.

 

You can afford a pillow??

[david mcgee]

Any major bank going bust, (and I'm sure I saw somewhere last week, some "expert" predicting this for one of the States' biggest, although he didn't name it) as jittery as things are at the moment, could lead to a run on the others and presto, the domino effect. (or instant socialism)

 

The most likely casualty in the US is Lehman brothers.

 

Did you know that the British banks have borrowed ?200 billion from the bank of Englands contingency funds?

 

After bailing out Northern Rock do you think the Government has the ability to bail out a financial organisation of the size of HBOS or RBS?

 

RBS paid ?40 billion or so for ABN Amro, their current market cap is probably quarter of that. Bit of negative equity there then.

 

How quiet have the banks been?

They are afraid to say anything for fear of causing a further crash in confidence.

The RBS are even afraid to make job losses because of the negative side effects, but everyone can see they are in severe need of pruning.

Best just to keep their heads in the sand and pray for an improvement?

[Sooperstar]

They're fair. Don't go over your limit = no charge. Easy. Done.

[Sooperstar]

The most likely casualty in the US is Lehman brothers.

 

Did you know that the British banks have borrowed ?200 billion from the bank of Englands contingency funds?

 

After bailing out Northern Rock do you think the Government has the ability to bail out a financial organisation of the size of HBOS or RBS?

 

RBS paid ?40 billion or so for ABN Amro, their current market cap is probably quarter of that. Bit of negative equity there then.

 

How quiet have the banks been?

They are afraid to say anything for fear of causing a further crash in confidence.

The RBS are even afraid to make job losses because of the negative side effects, but everyone can see they are in severe need of pruning.

Best just to keep their heads in the sand and pray for an improvement?

 

Andy Hornby interview, Leading Questions, BBC News 24, tomorrow night. 6.30 I believe. Repeated on Sunday.

[From Perth to Paisley]

Andy Hornby interview, Leading Questions, BBC News 24, tomorrow night. 6.30 I believe. Repeated on Sunday.

 

You read group.net today or was it in announce it - can't remember.

[Sooperstar]

You read group.net today or was it in announce it - can't remember.

 

Well I watch Leading Questions now and again but there was an HBOS Today about it.

 

I seen Dispatches about the banks last week and was disaapointed that no CEO would give a TV interview. Andy has responded to it and been the first to give one and I think it's a good move. Many criticisms can be laid at the banks over the credit crunch but the more good PR we can get, the better.

 

Help the media and they will help you back. Sometimes.

[david mcgee]

Andy Hornby interview, Leading Questions, BBC News 24, tomorrow night. 6.30 I believe. Repeated on Sunday.

 

Andy Hornby on the BBC right now.

Wearing a pink shirt and higher waisters than Simon Cowell.

Oh dear, i thought our banking system was in trouble, but this confirms it.

[davemclaren]

Andy Hornby on the BBC right now.

Wearing a pink shirt and higher waisters than Simon Cowell.

Oh dear, i thought our banking system was in trouble, but this confirms it.

 

That's Asda price.

[Super T]

For all the negativity surrounding the banking system it appears strange to me that the usual punters on here still go on about how 'this' bank or 'that' bank are about to go under, yet it still doesn't happen and they still carry on lending money, and in the funniest aspect carry on paying their wages!

[hmfc_steve]

I hate the whole fecking lot of them.... greedy money grabbing barstewrds... just woken u[ with the mutha fecjkinf of hangovers and I', still compus mentus enuff to know the banks are at it.... and they'll all close ranks till this is over, and then proceeed to shaft us to rake it all back again. Their own greed lending to anyone got them where they are now....... if it's you or I , here you go... have an enormous bank charge..... god I hate bankers and everything they stand for..... good morning

[coppercrutch]

For all the negativity surrounding the banking system it appears strange to me that the usual punters on here still go on about how 'this' bank or 'that' bank are about to go under, yet it still doesn't happen and they still carry on lending money, and in the funniest aspect carry on paying their wages!

 

Fact is a lot of people who really know what they are talking about, think the entire World's Financial system is close to collapse. Just because it has not happened yet does not mean it won't.

 

One day it will collapse. That is a definite. Only question is when. So no point worrying about it really. However it is interesting to keep track on.

 

Everyone is pretty much agreed the Financial system is at it's most precarious position since the 1930's Great Depression. I would say that is a fairly worrying situation.

 

I don't think people quite understand that it would only take a matter of days for the World's financial system to completely collapse.

 

Scary stuff.

[slashishere]

That's Asda price.

 

Very good sir, very good!

[The Old Tolbooth]

I can't stand whingers who moan about this. Manage your account properly and you won't be charged. It's simple really.

 

If the January ruling goes against the banks they will start charging for accounts. So the vast majority will suffer due to the incompetence of the few.

 

Whilst I agree with that, one thing I completely disagree with is banks who charge for going overdrawn (fair enough) and then the charge makes you over drawn again after being back in the black, so they charge you again by taking money out of your account that simply isn't there when they have had their charges in the first place.

 

No one else is allowed to take money from your account without permission, banks should be no different, especially when it isn't there in the first place.

[The Old Tolbooth]

That's Asda price.

 

[Therapist]

Fact is a lot of people who really know what they are talking about, think the entire World's Financial system is close to collapse.

 

Everyone is pretty much agreed the Financial system is at it's most precarious position since the 1930's Great Depression.

 

[coppercrutch]

 

OK a **** lot of people are agreed !!

 

Anyway I do agree that people should stop whinging about getting bank charges. They sign up for them so they have no reason to complain. Now are bank charges excessive sometimes ? That is another question altogether.

 

I think banks should continue charging, whilst reducing the amount for the clearly '**** take' ones.

 

If they simply get scrapped then we all face paying a hefty amount just for the privilege of Banks using our money to go out and make horrific 'investments'....

 

I don't think anyone wants that.