Claiming Back Bank Charges - Looks like the bubble has burst

[Hammer]

GoddamElectric will probably correct me, but I'm sure that as long as you go in font of a Scottish count, precedence in England doesn't matter, what with the Scottish legal system being based on Roman instead of Common law.

Originally Posted by LesMTS

I hope it doesn't get ruled illegal for them to charge £30 for going over your limit. The two ways they are looking at recouping that loss of earnings should charging be illegalised are by ending free banking and/or ending free cash withdrawals. I'd rather have the £30 charges, which you can avoid if you're responsible.

You realise that the way the banks make money is to invest your money in other things? By giving them your money, they are making more money (assuming there isn't a stock-market crash or anything).
If they are making money off my money, then they can dammed well reduce the bank charges and carry on providing a free service.

Or we could just nationalise the whole sorry system, which I'd much prefer. State Ownership FTW.

[Zooropa]

I know I must be "owed" a fortune from my student heyday, but fuck it.

[GoddamnElectric]

Originally Posted by Hammer

GoddamElectric will probably correct me, but I'm sure that as long as you go in font of a Scottish count, precedence in England doesn't matter, what with the Scottish legal system being based on Roman instead of Common law.

Depends on the court. Some English courts are still authority in Scotland, but it's mostly just the House of Lords. However even where a Scots court is not bound to follow an English decision it's still highly persuasive so it's competent to cite the English case and ask the Scots court to apply it, and often they will.

[MysticBumcheeks]

God, I'm so glad I've never had bank charges.....*touch wood*

[Addy]

Originally Posted by Hammer

GoddamElectric will probably correct me, but I'm sure that as long as you go in font of a Scottish count, precedence in England doesn't matter, what with the Scottish legal system being based on Roman instead of Common law.



You realise that the way the banks make money is to invest your money in other things? By giving them your money, they are making more money (assuming there isn't a stock-market crash or anything).
If they are making money off my money, then they can dammed well reduce the bank charges and carry on providing a free service.

Or we could just nationalise the whole sorry system, which I'd much prefer. State Ownership FTW.

And do you realise that by denying the banks money by defaulting on payments such as loans and going over overdraft limits they are being denied that money for investment because of you? Do you not think that therefore they are entitled to a little compensation? If not is it just because they are big faceless corporations? Would you treat a friend like that?

[0x21]

Originally Posted by Hammer

You realise that the way the banks make money is to invest your money in other things? By giving them your money, they are making more money (assuming there isn't a stock-market crash or anything).
If they are making money off my money, then they can dammed well reduce the bank charges and carry on providing a free service.

Of course, that is assuming that people have significantly positive bank balances, and the charges are generally for going into the negative.
Banks can't making any money by investing virtually nothing or negative funds.

[endless psych]

Originally Posted by Addy

And do you realise that by denying the banks money by defaulting on payments such as loans and going over overdraft limits they are being denied that money for investment because of you? Do you not think that therefore they are entitled to a little compensation? If not is it just because they are big faceless corporations? Would you treat a friend like that?

There is a world of difference between a "faceless corporation" and a friend Addy... Hang on... I am experiencing deja vu...

An interesting point to raise is that we don't live in a society where you are pretty much forced to give your money to a bank or similar institution... Although would employeers e bound to give employees cash if they demanded it?

[Potatojunkie]

Let's not pretend it's about "compensation" as opposed to screwing as much money out of people as they think they can get away with.

[Tacky]

Originally Posted by Addy

And do you realise that by denying the banks money by defaulting on payments such as loans and going over overdraft limits they are being denied that money for investment because of you? Do you not think that therefore they are entitled to a little compensation? If not is it just because they are big faceless corporations? Would you treat a friend like that?

Seriously addy, what the utter fuck?

[Zippy]

Originally Posted by Addy

Would you treat a friend like that?

Hahahahahaha.

You know Mr HSBC personally?

[Dec]

Banks are Addy's pals. Best thing I've heard today.

[Addy]

I stick by that - banks are legitimate businesses, it's how they make money and they are entitled to do it. *eyes gleam at thoughts of working in future in the investment divisions of banks playing with customer money*

And the point about the friend thing is that it's no more morally acceptable to screw a business out of money than it is a friend - despite you all thinking to the contrary

[endless psych]

Originally Posted by Addy

I stick by that - banks are legitimate businesses, it's how they make money and they are entitled to do it. *eyes gleam at thoughts of working in future in the investment divisions of banks playing with customer money*

They are legitimate businesses and they are entitled to do business as they see fit - but not many people have the option to not have a bank account no?

[Zippy]

Originally Posted by Addy

And the point about the friend thing is that it's no more morally acceptable to screw a business out of money than it is a friend - despite you all thinking to the contrary

There's a huge difference between screwing money out of a mate than a bank Addy.



Tonight folks, we've had a wee insight into why Addy is as mental as he is.

[Dec]

Originally Posted by Addy

*eyes gleam at thoughts of working in future in the investment divisions of banks playing with customer money*

Quoted for posterity.