Claiming Back Bank Charges - Looks like the bubble has burst

[Exit_W0unds]

Quoted for posterity.

That quote gets right up my beak. One particular reason I find it hard to want to read anything addy says on here.

[endless psych]

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

From a morally absolutist point of view aye you are correct screwing money out of a bank is no more acceptable then screwing money out of a mate. However in realistic terms companys that make billions of pounds worth of profit regardless of folk doing that anyhow?... Not so bad to my mind...

Also why isn't the reverse true? Why is a bank allowed to charge £30 odd quid for going into your overdraft or the like? Isn't that a bit like screwing your mates over in moral terms?

[Tacky]

I mean, like, most people go to asda because they charge cheaper prices for relatively the same goods - as an example. So is there an economy bank thats better? SHould we all close our accounts, withdraw our money and open like a post office account or something i dont know about that would save the consumer lots of money?

If people did this en masse banks would have to advertise they were scrapping charges and such. I mean, you would think that banks already are competitive.

[endless psych]

[Devils Advocate]The difference being?

Morally theres not much difference. However in reality the fact most peoples mates don't make billions each year probably plays a part. Also most peoples mates don't demand more cash or apply penalty charges if you borrow money off them and don't pay it back on time.

[Hammer]

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?

I think that if the banks are making money off my money, then I'm dammed well entitled to a higher rate of interest then I'm getting or an absence of absurd charges. Like it or not, the banks are faceless corporations - they don't give a flying fuck about customers.

I wouldn't expect a friend to charge me 30 pounds for because I asked them to cover a payment until I got paid.

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.

True, but banks do charge you interest if you have an overdraft or have a Credit Card.

I mean, like, most people go to asda because they charge cheaper prices for relatively the same goods - as an example. So is there an economy bank thats better? SHould we all close our accounts, withdraw our money and open like a post office account or something i dont know about that would save the consumer lots of money?

If people did this en masse banks would have to advertise they were scrapping charges and such. I mean, you would think that banks already are competitive.

The reason that banks aren't that competitive is that they make it so hard to transfer existing debts and payments.

I'd transfer to the Coop bank at the drop of a hat if it wasn't for the fact that HBOS own my ass via Student Account.

[Tacky]

See, they lure you in with freebies like the child catcher, and then keep you, keep you locked to their bank.....for yeeaarrrrrssss.....mwahahahaah!

[Hammer]

See, they lure you in with freebies like the child catcher, and then keep you, keep you locked to their bank.....for yeeaarrrrrssss.....mwahahahaah!

To be fair, the reason I was with HBOS in the first place was mostly political. My entire family are rabid left-wing Nationalists, and Bank of Scotland used to be where you banked if you were an SNP supporter, mostly because they aided the Jacobite uprising and until the Halifax merger made a point of staying Scottish. Fucking splitting merging bastards.

Then I got locked in by the Student Account. I didn't even get any freebies

[Addy]

That quote gets right up my beak. One particular reason I find it hard to want to read anything addy says on here.

What's wrong with it? That will be my future career.

[Zippy]

There's a difference between a career and thinking a bank is your best mate.

[Addy]

From a morally absolutist point of view aye you are correct screwing money out of a bank is no more acceptable then screwing money out of a mate. However in realistic terms companys that make billions of pounds worth of profit regardless of folk doing that anyhow?... Not so bad to my mind...

Also why isn't the reverse true? Why is a bank allowed to charge £30 odd quid for going into your overdraft or the like? Isn't that a bit like screwing your mates over in moral terms?

I prefer to think of it in terms of "if I owe my mates money and pay them late, I have no problem with being charged interest, even though I'd never do that to them because I'd never get it back and they'd hate me" myself

[LesMTS]

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.

I know this, I'm not saying that it's the right thing to do and I'm certainly not justifying it but that's what they will (indeed plan to) do. One of the main reasons being given is the backlash against overdraft charges.

[thetruemayhem]

I prefer to think of it in terms of "if I owe my mates money and pay them late, I have no problem with being charged interest, even though I'd never do that to them because I'd never get it back and they'd hate me" myself

Likewise, if you gave most of your money to a flatmate to gamble or invest with, and let them keep all the profits of said investments, and then when you borrowed cash from *them* and couldn't pay it back until a day late they went and took £35 out of your bedroom drawer, you'd probably be fucking ragin, no?

t.

[endless psych]

I prefer to think of it in terms of "if I owe my mates money and pay them late, I have no problem with being charged interest, even though I'd never do that to them because I'd never get it back and they'd hate me" myself

As tragichero says would you not be angry if they went into your wallet and took an amount of money you may or may not be able to pay (dependent on circumstances) and was not related to the original loan?

If I thought I could go into a job interview and say - "oh one thing, I don't have a bank account can you just pay me in cash?" do you think they would be willing to give me the job? I'd imagine most places wouldn't be to happy about that. Ergo most people have to have a bank account therefore they have to have their money stored by one of these corporations. Fair enough they have a choice in which one keeps their money but bank charges are pretty uniform across the board no? So there's little choice not to have a bank account and little choice not to be charged over the odds if you get into difficulty.

[Charlicat]

Hey HBOS, ma main homie whatcha up to? I'm just mucking about trying to get my hair right for tomorrow. I was trying to use the straighteners to make kinda waves, but it just keeps looking too "flicky", know what I mean?! Can't WAIT for tomorrow though, hopefully Natwest won't come with BITCHFACE FROM HELL AKA TSBHIV and I'll actually get a chance to talk to him without her hanging over every word and sneering. Oh! Did you get that homework thing handed in, the one you were worried about? Mr Mitchell was PURE ragin when you weren't in class, but fuck him, we've got more important things to worry about!!! Anyway, better go, but phone me as soon as you get in tonight and you can let me know what you think about what I was gonna wear. Speak soon!!! xxxx Bye Babes! Hally F Axe

[thetruemayhem]

As tragichero says would you not be angry if they went into your wallet and took an amount of money you may or may not be able to pay (dependent on circumstances) and was not related to the original loan?

Tragichero said nothing of the sort. Thetruemayhem (or taz, to those who know me) did.

t.