lewis2006 Posted February 18, 2008 Share Posted February 18, 2008 I've just sorted out all my statements and have paid ?800... yes ?800!!! in the last 3 years through charges. Now I know that there was some sort of court case going on where all cases have been suspended but has anyone got info on when i would be able to make a claim to get them back. The w ank (i mean bank) in question is halifax btw! ?30 a pop and another ?28 the following month : Link to comment Share on other sites More sharing options...
K1874M Posted February 18, 2008 Share Posted February 18, 2008 I've just sorted out all my statements and have paid ?800... yes ?800!!! in the last 3 years through charges. Now I know that there was some sort of court case going on where all cases have been suspended but has anyone got info on when i would be able to make a claim to get them back. The w ank (i mean bank) in question is halifax btw! ?30 a pop and another ?28 the following month : No idea.... keep checking http://www.moneysavingexpert.com/reclaim/oft-bank-charges for updates Link to comment Share on other sites More sharing options...
Gavsy Van Gaverson Posted February 18, 2008 Share Posted February 18, 2008 I've just sorted out all my statements and have paid ?800... yes ?800!!! in the last 3 years through charges. Now I know that there was some sort of court case going on where all cases have been suspended but has anyone got info on when i would be able to make a claim to get them back. The w ank (i mean bank) in question is halifax btw! ?30 a pop and another ?28 the following month : There is a court couse going on at the moment between the banks and the OFT (Office of Fair Trading). The court case will take a while so it is more than likely that there won't be a decision until nearer the end of this year. http://www.moneysavingexpert.com/reclaim/oft-bank-charges Link to comment Share on other sites More sharing options...
K1874M Posted February 18, 2008 Share Posted February 18, 2008 There is a court couse going on at the moment between the banks and the OFT (Office of Fair Trading). The court case will take a while so it is more than likely that there won't be a decision until nearer the end of this year. http://www.moneysavingexpert.com/reclaim/oft-bank-charges Stop copying me!! The court case was due to come to a conclusion this month but looks like it will drag like feck now. Link to comment Share on other sites More sharing options...
Walter Payton Posted February 18, 2008 Share Posted February 18, 2008 If they've taken the money out unfairly (i.e I authorised an international money transfer which they took out twice and caused me to go over my overdraft) give them a call- they're more than helpful and reimbursed all money and charges, and gave me ?30 on top for my troubles. People shouldn't complain too much though IMO if they have failed to manage their own finances properly and have just been charged as per the agreement they signed with the bank when they opened the account. Link to comment Share on other sites More sharing options...
Domokun Posted February 18, 2008 Share Posted February 18, 2008 People shouldn't complain too much though IMO if they have failed to manage their own finances properly and have just been charged as per the agreement they signed with the bank when they opened the account. I disagree. People of whom it's their own fault should be charged, yes, but only ?12 per transaction in line with OFT guidelines. I've been a couple of quid over my overdraft limit in the past and been charged ?65 for the privilege. It's a joke and grossly immoral. Link to comment Share on other sites More sharing options...
Meadows Posted February 18, 2008 Share Posted February 18, 2008 I People shouldn't complain too much though IMO if they have failed to manage their own finances properly and have just been charged as per the agreement they signed with the bank when they opened the account. i also disagree...If someone is even 10p below an amount for a standing order the bank will reject payment. The company expecting the payment..Car Loan,mortgage,insurance etc then charge average ?20. The Bank also charge ?28-?30, however if the bank taking the charge puts you overdrawn they charge ANOTHER ?28!!!! So , for being 10p light on your account it could cost you ?76....And the emails they send are computer generated so cost the bank Hee Haw!!! Link to comment Share on other sites More sharing options...
Walter Payton Posted February 18, 2008 Share Posted February 18, 2008 Sorry guys, but maybe you should realise what an overdraft is. You've not earned that money in the first place, so if the bank decides to set a limit on how much they'll let you spend money you haven't earned in the first place that's fair enough in my opinion. They set the terms out (including charges) before you agreed to open the account. Its your fault if you don't read them properly. Link to comment Share on other sites More sharing options...
lewis2006 Posted February 18, 2008 Author Share Posted February 18, 2008 Cheers for the info troops. Not getting into the debate about the rights and wrongs of it all but banks make enough off the working class without having to charge ?30 for going say 12p over the overdraft limit...especially when you have been banking for said bank for say 22 years!!! Link to comment Share on other sites More sharing options...
Walter Payton Posted February 18, 2008 Share Posted February 18, 2008 Cheers for the info troops. Not getting into the debate about the rights and wrongs of it all but banks make enough off the working class without having to charge ?30 for going say 12p over the overdraft limit...especially when you have been banking for said bank for say 22 years!!! But if you've been spending enough of their money that you haven't earned over 3 of those 22 years to accrue over ?800 in charges I'd suggest that was fair enough. Link to comment Share on other sites More sharing options...
Bindy Badgy Posted February 18, 2008 Share Posted February 18, 2008 Sorry guys, but maybe you should realise what an overdraft is. You've not earned that money in the first place, so if the bank decides to set a limit on how much they'll let you spend money you haven't earned in the first place that's fair enough in my opinion. They set the terms out (including charges) before you agreed to open the account. Its your fault if you don't read them properly. Their terms are irrelevant as they are illegal. If I tell you that I'm going to rob you and then go ahead and do it the fact that I've warned you I'm going to break the law doesn't make my actions any less illegal. Link to comment Share on other sites More sharing options...
djf Posted February 18, 2008 Share Posted February 18, 2008 Their terms are irrelevant as they are illegal. If I tell you that I'm going to rob you and then go ahead and do it the fact that I've warned you I'm going to break the law doesn't make my actions any less illegal. And in what way are they illegal? Link to comment Share on other sites More sharing options...
djf Posted February 18, 2008 Share Posted February 18, 2008 It's interesting to note that every single person who has had to reclaim bank charges have been penalised for going 12p over and insane figures like that. Nobody has ever just completely mismanaged their finances to the tune of ?800 in charges. Link to comment Share on other sites More sharing options...
Walter Payton Posted February 18, 2008 Share Posted February 18, 2008 Their terms are irrelevant as they are illegal. If I tell you that I'm going to rob you and then go ahead and do it the fact that I've warned you I'm going to break the law doesn't make my actions any less illegal. If (in your opinion) the charges are illegal, does that not make you even more foolish to agree to them in the first place? Link to comment Share on other sites More sharing options...
djf Posted February 18, 2008 Share Posted February 18, 2008 I disagree. People of whom it's their own fault should be charged, yes, but only ?12 per transaction in line with OFT guidelines. I've been a couple of quid over my overdraft limit in the past and been charged ?65 for the privilege. It's a joke and grossly immoral. The ?12 charges imposed on credit cards has no relation to bank charges. Hence why the test case is going through. You're probably close to the mark however. We will see the fees reduced to about ?12 a pop and people will be expected to pay a monthly fee for their banking. Ho Hum. The complete lack of financial responsibility/education in this country is a joke. Link to comment Share on other sites More sharing options...
Walter Payton Posted February 18, 2008 Share Posted February 18, 2008 It's interesting to note that every single person who has had to reclaim bank charges have been penalised for going 12p over and insane figures like that. Nobody has ever just completely mismanaged their finances to the tune of ?800 in charges. And managed to accrue figures like ?1000 charges over 3 years doing so. In my experience, if they apply an automated overdraft charge over something daft like 12p, call them up and they'll cancel the charge. Link to comment Share on other sites More sharing options...
Rick Grimes Posted February 18, 2008 Share Posted February 18, 2008 The case is actually over. The judge is deliberating over the verdict at the moment. I'[d guess there'll be some more news in the next month or so. have to say also, I'm on the side of those preaching financial responsibility. i've had a handful of charges over the years and had 95% of them back because I had a record of keeping my account in order. if you've run up hundreds or thousands you need to have a serious word with yourself. Link to comment Share on other sites More sharing options...
Walter Payton Posted February 18, 2008 Share Posted February 18, 2008 The ?12 charges imposed on credit cards has no relation to bank charges. Hence why the test case is going through. You're probably close to the mark however. We will see the fees reduced to about ?12 a pop and people will be expected to pay a monthly fee for their banking. Ho Hum. The complete lack of financial responsibility/education in this country is a joke. Spot on djf. I'm not taking this stance because I want to **** as many people on here off as I can, but I've lived in a country where the banks slap fees on their services all over the place and I appreciate what we've got here. If I manage my money properly here, I can let it accrue interest and not worry about paying anything- Living in countries like Australia you can lose more money in a month paying things like account handling fees or fees for using ATMs than you gain in interest (and that's on positive balances), and that's exactly the way the banks over here will go IMO if they lose this case. Link to comment Share on other sites More sharing options...
Bindy Badgy Posted February 18, 2008 Share Posted February 18, 2008 If (in your opinion) the charges are illegal, does that not make you even more foolish to agree to them in the first place? It's the opinion of the Office of Fair Trading. The fact that a lot of banks have been paying them back without contesting the decision seems to indicate that they know their actions are illegal. Name a bank that doesn't have them. it doesn't affect me personally as I don't go overdrawn (touch wood). However, that does not change the principle. And in what way are they illegal? Penalty charges should be a reflection of the true cost of administering them. They should not be a profit making exercise. http://news.bbc.co.uk/1/hi/business/6169539.stm Link to comment Share on other sites More sharing options...
Rick Grimes Posted February 18, 2008 Share Posted February 18, 2008 Penalty charges should be a reflection of the true cost of administering them. They should not be a profit making exercise. http://news.bbc.co.uk/1/hi/business/6169539.stm why? is a bank a business or a charity? Link to comment Share on other sites More sharing options...
Bindy Badgy Posted February 18, 2008 Share Posted February 18, 2008 why? is a bank a business or a charity? I'm not disputing that they aren't entitled to make a profit. I'm stating that they have to abide by the laws of the land. I wasn't giving a personal opinion. I was stating the law as I've seen it written in articles on the subject. Link to comment Share on other sites More sharing options...
djf Posted February 18, 2008 Share Posted February 18, 2008 If you consider the amount of meandering nonsense we teach kids in schools it is bizarre that finance isn't included in there. How many people go their lives without a need for finance of some sort? Yet people can leave school at 18 and rack up thousands of pounds of debt in a matter of weeks without even knowing how APR works. Banks are obligated to highlight the charging system when opening an account. Are people seriously telling me they find these morally repungant or what have you yet still take the acounts out? Link to comment Share on other sites More sharing options...
djf Posted February 18, 2008 Share Posted February 18, 2008 It's the opinion of the Office of Fair Trading. The fact that a lot of banks have been paying them back without contesting the decision seems to indicate that they know their actions are illegal. No. It was obvious that the banks were making a combined effort to try and create a precedent case in a High Court. Those that got their charges back were probably just lucky enough to apply whilst the wheels were set in motion for this. The big question is how do you gauge the administrative costs involved. I guess we will find out soon enough. Link to comment Share on other sites More sharing options...
davemclaren Posted April 23, 2008 Share Posted April 23, 2008 Judgement expected tomorrow. http://news.bbc.co.uk/1/hi/business/7362856.stm Link to comment Share on other sites More sharing options...
chester copperpot Posted April 23, 2008 Share Posted April 23, 2008 There is a simple solution here. Dont get in trouble, that way you're never charged. I've never been O/D in all the time I've been with my bank. Problem solved. Link to comment Share on other sites More sharing options...
davemclaren Posted April 23, 2008 Share Posted April 23, 2008 There is a simple solution here. Dont get in trouble, that way you're never charged. I've never been O/D in all the time I've been with my bank. Problem solved. But on ?150k a year that's easy to say. Link to comment Share on other sites More sharing options...
kearney19 Posted April 23, 2008 Share Posted April 23, 2008 So Dave or anyone.... say the bank loses.... have they to fund all our bank charges back to us? Link to comment Share on other sites More sharing options...
Ray Winstone Posted April 23, 2008 Share Posted April 23, 2008 I have been over my student arranged overdraught twice and been charged 40 quid both times. Called to get it back and got their spiel about the court case etc. Hopfully the ruling tomorow will be against the Banks and I can add another 80 beer tokens to the account! Link to comment Share on other sites More sharing options...
Ray Winstone Posted April 23, 2008 Share Posted April 23, 2008 So Dave or anyone.... say the bank loses.... have they to fund all our bank charges back to us? If Bank charges are declared illegal (which is basically how it all started) then yes. However I suspect you will have to get together all the proof yourself (statements and letters) as the Bank certainly wont be keen to help! Link to comment Share on other sites More sharing options...
kearney19 Posted April 23, 2008 Share Posted April 23, 2008 If Bank charges are declared illegal (which is basically how it all started) then yes. However I suspect you will have to get together all the proof yourself (statements and letters) as the Bank certainly wont be keen to help! Woopse! Have No clue where all my bank charges are! Might have shreaded them in disgust. Think if I go to the bank and ask for all my staments for the past few years to be printed out... will they do it? Link to comment Share on other sites More sharing options...
chester copperpot Posted April 23, 2008 Share Posted April 23, 2008 But on ?150k a year that's easy to say. Take a zero off it mate, then treble it, then we're talking Link to comment Share on other sites More sharing options...
Deek Posted April 23, 2008 Share Posted April 23, 2008 Woopse! Have No clue where all my bank charges are! Might have shreaded them in disgust. Think if I go to the bank and ask for all my staments for the past few years to be printed out... will they do it? Yes they will, but it will cost you about ?20. Link to comment Share on other sites More sharing options...
Ray Winstone Posted April 23, 2008 Share Posted April 23, 2008 Yes they will, but it will cost you about ?20. Ha ha then claim that back as a bank charge as well. Seriously though - they are thieving bandits! Link to comment Share on other sites More sharing options...
kearney19 Posted April 23, 2008 Share Posted April 23, 2008 Yes they will, but it will cost you about ?20. !!! Thats bang out of order! I got statements last time free of charge, If I have to pay ill be raging and as Turks said Ill be claiming that back aswell! Link to comment Share on other sites More sharing options...
this_is_my_story Posted April 24, 2008 Share Posted April 24, 2008 There is a simple solution here. Dont get in trouble, that way you're never charged. I've never been O/D in all the time I've been with my bank. Problem solved. Somehow, I would guess that people reading this thread might just have worked that bit out for themselves. The point is, that these charges - because of the fact that they far outweigh the actual cost to the company involved - are morally and lawfully wrong. That cannot be argued against, and the whole concept is created and driven by pure greed. Will be interesting to see the outcome of this case - as a previous poster had suggested, if the banks happen to lose, they'll start taking the pish in other ways. Whether you use an ATM, visit a branch, or whatever - there will soon come a time when you won't be able to get your hands on YOUR OWN money by any free-of-charge means. Link to comment Share on other sites More sharing options...
Craig-Section Z Posted April 24, 2008 Share Posted April 24, 2008 Keep you money in a shoe box under your bed if you dont like the banks!!! U know the rules when you take your account out. Link to comment Share on other sites More sharing options...
Rawrrrrrrr Posted April 24, 2008 Share Posted April 24, 2008 !!! Thats bang out of order! I got statements last time free of charge, If I have to pay ill be raging and as Turks said Ill be claiming that back aswell! Why do you think the software to send statements etc is free? Why shouldnt you pay for them Tbh I hope the banks win as if they dont the majority are going to be penalised for the minority of little tossers who cant manage their finances and spend money they dont have ?800 in charges is an astronomical amount and the OP is simply on a **** take at everyone elses expenses Link to comment Share on other sites More sharing options...
Rawrrrrrrr Posted April 24, 2008 Share Posted April 24, 2008 Somehow, I would guess that people reading this thread might just have worked that bit out for themselves. The point is, that these charges - because of the fact that they far outweigh the actual cost to the company involved - are morally and lawfully wrong. That cannot be argued against, and the whole concept is created and driven by pure greed.Will be interesting to see the outcome of this case - as a previous poster had suggested, if the banks happen to lose, they'll start taking the pish in other ways. Whether you use an ATM, visit a branch, or whatever - there will soon come a time when you won't be able to get your hands on YOUR OWN money by any free-of-charge means. How do you know they outweigh ? Yes techinically speaking they do but the banks argument will be the whole infastructure of running a bank should be taken into consideration. I.e Insurance,reserves, software, legal teams, collection teams etc etc as opposed to the basic costs of the paper and ink for a letter I actually think the banks will win tbh Link to comment Share on other sites More sharing options...
Tams bird Posted April 24, 2008 Share Posted April 24, 2008 The complete lack of financial responsibility/education in this country is a joke Keeps me busy at work though . Some of the letters people send in they must sit up all night what crap to write...I couldnt pay ---- because shalom said i shouldnt was yesterdays one. What the hell or who is shalom? Link to comment Share on other sites More sharing options...
Rawrrrrrrr Posted April 24, 2008 Share Posted April 24, 2008 The complete lack of financial responsibility/education in this country is a joke Keeps me busy at work though . Some of the letters people send in they must sit up all night what crap to write...I couldnt pay ---- because shalom said i shouldnt was yesterdays one. What the hell or who is shalom? I did a short secondment in collections a fair few years ago and the asians loved their "religous" excuse Funnily enough it never stopped them borrowing, just affected them when it came to repayments:rolleyes: The fact it is not hard to live within your means, you know what you have, you know what you can spend Why shouldnt you be penalised if you exceed that The rest of us will end up being penalised for being prudent Link to comment Share on other sites More sharing options...
Deek Posted April 24, 2008 Share Posted April 24, 2008 How do you know they outweigh ? Yes techinically speaking they do but the banks argument will be the whole infastructure of running a bank should be taken into consideration. I.e Insurance,reserves, software, legal teams, collection teams etc etc as opposed to the basic costs of the paper and ink for a letter I actually think the banks will win tbh Bad news for a banker like yourself. http://news.bbc.co.uk/1/hi/business/7364422.stm Link to comment Share on other sites More sharing options...
Sexton Hardcastle Posted April 24, 2008 Share Posted April 24, 2008 having read a bit about all this and looking to make a claim myself am i right in thinking any claims just now regardless for any amount will just be acknowledged and then put on hold or are some claims getting proccessed? And what is the full information you have to suply? All statements for up to 3 years i read somewere? Link to comment Share on other sites More sharing options...
Deek Posted April 24, 2008 Share Posted April 24, 2008 I see the FTSE is down 90 points already. Another big hit coming up for the banks. Perhaps the RBS should have asked their shareholders for another few billion. Link to comment Share on other sites More sharing options...
Say What Again Posted April 24, 2008 Share Posted April 24, 2008 Bad news for a banker like yourself. http://news.bbc.co.uk/1/hi/business/7364422.stm Spot the deliberate typo. Link to comment Share on other sites More sharing options...
Billy the Jambo Posted April 24, 2008 Share Posted April 24, 2008 I have just heard on the radio that the High Court have ruled that the bank charges are illegal thus opening the floodgates for millions of customers to claim their money back .NO doubt the banks will appeal against this decision and drag it on for another few months or even longer Link to comment Share on other sites More sharing options...
Sparky Posted April 24, 2008 Share Posted April 24, 2008 My question to the OP would be, why has it taken three years for you to realise that you have paid out ?800 in charges? With regards the overall situation, I agree that charges are too high and that they should be reduced. But I don't agree that banks should have to compensate people who failed to keep control of their own finances. The charges were there for all to see yet people still signed up. Link to comment Share on other sites More sharing options...
Sexton Hardcastle Posted April 24, 2008 Share Posted April 24, 2008 I dont think it has taken 3 years to realise, thats just all the charges mounted up as a result of stupid/uncalled for fines. Hopefulyl it gets sorted out and the banks get hit where they should. Link to comment Share on other sites More sharing options...
Sparky Posted April 24, 2008 Share Posted April 24, 2008 I dont think it has taken 3 years to realise, thats just all the charges mounted up as a result of stupid/uncalled for fines. Hopefulyl it gets sorted out and the banks get hit where they should. Ah right, my mistake. Even so, I'd certainly notice and be forced to act if over ?20 was leaving my bank account each month in charges. Especially when the 'illegality' of them has been plastered all over the papers in the last few years. Link to comment Share on other sites More sharing options...
Deek Posted April 24, 2008 Share Posted April 24, 2008 My question to the OP would be, why has it taken three years for you to realise that you have paid out ?800 in charges? With regards the overall situation, I agree that charges are too high and that they should be reduced. But I don't agree that banks should have to compensate people who failed to keep control of their own finances. The charges were there for all to see yet people still signed up. You have to wonder why it can cost a ?140 when you go ?1 overdrawn. I dont think anybody has a problem with charges, it is the extortionate amount they charge you. The figure I quoted was my brothers. He went overdrawn by a pound, he was then charged ?35. He called them to try and arrange an overdraft to cover the charges he knew were coming and he was refused. At the end of the month he was ?140 overdrawn, but only ?1 was his, the rest was charges. He works part time as he is a student and had to come to me to bail him out. There was absolutely no room for negotiation and I hope the banks get screwed big time. For years they have been posting massive profits. Profits that a third world country could live on. But all there profit is going into the fat cat shareholders, to the detriment and misery of those who cant afford it. Link to comment Share on other sites More sharing options...
Rawrrrrrrr Posted April 24, 2008 Share Posted April 24, 2008 Isnt it funny how everyone always goes a ? over!!! As for the case this does not mean the charges are illegal, it simply gives the OFT power to investigate and decide if they are illegal and set reasonable tariffs - like the ?12 they introduced on credit cards The banks can appeal too This is a far way from over Link to comment Share on other sites More sharing options...
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