D Day for Banks next Wednesday

Gloxxy

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Supreme Court judges will rule on the legal battle over unfair bank charges next Wednesday.
The five justices will decide on the case between the Office of Fair Trading and the biggest current account providers - HSBC, RBS/Natwest, Halifax, Lloyds, Abbey, Nationwide BS, Clydesdale and Barclays.
The decision will find whether the OFT is allowed to assess the fairness of overdraft charges, which could be as high as £39 a time for exceeding your limit.

The Court of Appeal and the High Court have already ruled the charges can be assessed. This will be only the fifth decision from the Supreme Court, which effectively replaced the House of Lords as the highest court in the land in October.
More than 1.1million bank customers have an estimated £1.7 billion stuck in limbo because of a freeze placed on complaints over rip-off bank charges in July 2007. This waiver on dealing with complaints is expected to be kept in place until next January.
Estimates suggest banks could face a £20 billion bill if they were made to refund all the charges they have imposed in the past six years.
Marc Gander, founder of the Consumer Action Group, says: 'We expect that the decision will confirm the victory of the OFT. If the judgment is as we have predicted for over two years then we hope that the banks will finally accept the OFT victory and halt their charging and debt collecting and that a scheme for full repayment and compensation will be implemented without any delay.'
I hope the OFT win and the banks get shafted. They deserve it, the thieving gypo's.

I've got a claim on hold at the moment pending this court case. I'll be getting a nice £2,500 if the OFT win.

Anyone else got a claim on hold?
 

JamesZero

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I went through this about a year or so ago, maybe a bit longer.

I managed to get £1100 off them with not much trouble at all. I think the total amount should have been about £1500, but they offered £1100 as a settlement and I couldnt be arsed to take it to court.

Things seem to be a lot strickter since then tho.

Good luck with it mate, the banks are thieving cunts!
 
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#3
Aren't they supposed to automatically refund people if this goes through i.e you don't have to chase them for it but will get a nice wee check on the doormat some day, or did I dream that up?
 

Gloxxy

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Aren't they supposed to automatically refund people if this goes through i.e you don't have to chase them for it but will get a nice wee check on the doormat some day, or did I dream that up?
No, that is a definite possibility. All depends on what the court rule though.
 

EWOKS

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my cousin got about a 2 grand settlement, which he neither agreed or disagreed too. and they still paid it in his bank...

but he didint cancel the court proceedings.. natwest failed to turn up so he got another 2 grand paid into his account.

was about that, think it was actually about 3,600 althogher cant remember..


halifax are introducing a new thing.. a pound charge a day for being in your overdraft, and a fiver a day for being over your overdraft..

other banks to follow. there trying to kill the free overdraft facility because of people just living in their overdrafts (me) ... so if you want an overdraft it gunna start costing a pound a day if your in it....


harshness..
 

rob_del_terror

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Aren't they supposed to automatically refund people if this goes through i.e you don't have to chase them for it but will get a nice wee check on the doormat some day, or did I dream that up?
i'm hoping for this because i dont have a claim on hold. i did write to the bank about it for me and my girlfriend but they said they deemed the charges appropriate and therefore weren't willing to pay them back.

i payed 105 pound a month for 7 months at one point. absolute bolox. its a vicious circle of going over and failed direct debits.

i'll actually be singing and dancing all day if we can get it back. i'm gonna throw a party.
 

rob_del_terror

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in fact, to add to that. this is just what the country needs. a little something back from the fat bankers.
just getting out of this recession, morals been low, people who've been stung with charges will have been the people suffering through these dark times. It'll cheer us all up in time for christmas. woop woop.
 

Gloxxy

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in fact, to add to that. this is just what the country needs. a little something back from the fat bankers.
just getting out of this recession, morals been low, people who've been stung with charges will have been the people suffering through these dark times. It'll cheer us all up in time for christmas. woop woop.
Freudian slip by you there Rob? :teeth:
 

KEMZ

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hmmmm i hope they get fuckin screwed big just like they've screwed every person on the planet since the 1700's when they invented the money scam.
but, thats unlikely to happen as they hold too much power these days. i hope people do get there charges back, the whole system has been smashing peoples pockets for too long.

just look at the economic 'crisis' were in now, 100% caused by investment bankers with there derivative bubbles and ponzy schemes. so what do our 'Governemnts' do? we put literally ££ trillions of tax payers money into them to stop them failing because they threatened the governments that we'll go into a 'dark age' and could see extreme 'civil unrest' if they fail. its so obvious the people in control, control the banks which dictate to government. one big fuckin scam. same story in America, Trillions of dollars thrown at the banks which they moved off shore and didnt account for where ANY of it went or WHO got it. 26 trillion dollars and you cant tell us who got any of it? gimme a break

The world in my opinion, has just witnessed the biggest heist in history done right out in the open wether you believe it or not.
These bankers are not interested in helping the economy or any type of recovery for that matter, quite the opposite - they want to completely smash every economy to peices so there will never, ever be any kind of recovery possible. this includes removing the Dollar as the world currency by a process of devaluation. all the big players are dumping it already
Why? so they can introduce a 'new economy' to save us all. a one world currency, headed by a World Bank, which in turn means a Global Government and Army eventually. if you control a countrys economy, you control that country, period.

Its the likes of Goldman Sachs, JP Morgan & The Rothchild banking familys that make third world countrys possible in the 21st century, and never ended wars. These people are LAND OWNERS, using there banking cartels as means in indebt not only all the nations but every individual as well into perpetual servitude.

The Rothchild Family have HALF the worlds wealth alone. somewhere around £500 Trillion
a bit of advise - dont get in debt. dont use credit cards and save up, cos shit is about to hit the fan big.
 
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#12
I hope the OFT win and the banks get shafted. They deserve it, the thieving gypo's.

I've got a claim on hold at the moment pending this court case. I'll be getting a nice £2,500 if the OFT win.

Anyone else got a claim on hold?
tbf I hope the banks win.
Simply because the banks use this as a source of income to "cover the cost of services"

They still want that money, all they will do is charge EVERYONE to have a bank account. Yes they fucked us all over with their greed, they are still gonna want that money... they are bankers ergo greedy (and incompetent)

Sorry but wtf should I pay because people cannot adhere to the terms they agreed to when they accepted an overdraft. I am already badgered by the bank every 3months to change my bank account to a "active plus account" where they charge £12 a month FUCK THAT SHIT! (the "services" they offer for this charge are useless to me so I would be getting nothing)

do you lot want to be charged £12 a month for just having a bank account?
 
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Gloxxy

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tbf I hope the banks win.
Simply because the banks use this as a source of income to "cover the cost of services"

They still want that money, all they will do is charge EVERYONE to have a bank account. Yes they fucked us all over with their greed, they are still gonna want that money... they are bankers ergo greedy (and incompetent)

Sorry but wtf should I pay because people cannot adhere to the terms they agreed to when they accepted an overdraft. I am already badgered by the bank every 3months to change my bank account to a "active plus account" where they charge £12 a month FUCK THAT SHIT! (the "services" they offer for this charge are useless to me so I would be getting nothing)

do you lot want to be charged £12 a month for just having a bank account?
"Cost of Services"? It costs the bank £2.50 - £4.50 to send out an automated letter with a franked stamp to tell you that you have gone over your overdraft so how is charging up to £39 right in any way, shape or form? It is illegal and shouldn't be tolerated.
If you took a DVD back to Blockbuster a day or 2 late would you be happy paying a late fee 10 times the price you rented it for?
 
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#14
"Cost of Services"? It costs the bank £2.50 - £4.50 to send out an automated letter with a franked stamp to tell you that you have gone over your overdraft so how is charging up to £39 right in any way, shape or form? It is illegal and shouldn't be tolerated.
If you took a DVD back to Blockbuster a day or 2 late would you be happy paying a late fee 10 times the price you rented it for?
I am aware of the numbers, I have been following this from the beginning

Banks charge £39, it costs them (worst-case) £4.50. That is a clear profit of £34.50 per overdraft violation

Now where do you suppose they are going to get that money if/when it is deemed illegal for them to charge such a fee?

I will tell you where The rest of us in the for of current account charge

Answer me this: WTF should I pay because others cannot manage their finances? Banking should NOT be socialised! it goes against the fundamental principals of capitalism.


I don't want to pay for other ppl inability to manage their finances so if it is a choice between me paying for their fuckups or them paying for their fuckup guess what I am going to pick.

Now if some other means was found to suppliment the banks for this loss of £34.50 per overdraft violation then fine, but not out of my pocket EVERY FUCKING MONTH!
 

Gloxxy

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Banks will not start charging people to use a bank account if they lose. People would not stand for it. I know I wouldn't. I'd rather keep all of my cash on my person than pay a tenner a month for them to hold it.

The ramifications for banks would be unpalatable if they tried this.
 
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#16
Banks will not start charging people to use a bank account if they lose. People would not stand for it. I know I wouldn't. I'd rather keep all of my cash on my person than pay a tenner a month for them to hold it.

The ramifications for banks would be unpalatable if they tried this.



http://news.bbc.co.uk/1/hi/business/7969395.stm

A consumer group has voiced its concern about the fees and charges attached to a new breed of current account.
Some banks use cash bonuses to entice customers to sign up, but overdraft charges can be as high as £5 a day.

Which? said it believed banks were planning to end free banking if they lost their landmark battle over charges with the Office of Fair Trading (OFT).

http://news.bbc.co.uk/1/hi/business/7425519.stm
And Chris Warner, a lawyer at the consumers' association Which?, said: "This does seem to be an admission by Barclays that its current unauthorised overdraft charges are unfair and that instead, a fee of £8 would be reflect its costs and so be a much fairer price."
So I ask again
WTF should I be charged because others cannot manage their finances?







And:
http://news.bbc.co.uk/1/hi/business/7083284.stm
Millions of people might switch banks if monthly or annual charges are brought in for using bank accounts, says consumers' association Which?
In a survey of 1,022 people for Which?, 79% said they might move to another bank, while 73% thought current account charges would be unfair.
Banks have suggested they may bring in such charges if they lose their right to charge high overdraft fees.


If all banks bring in current-account charges, where would you switch to?


If you don't want monthly charges to use your account you better hope the banks win OR some other means to supplement the bank is found, they aint gonna like that nice income






 

rob_del_terror

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i can't believe anyone would try and defend them, in all fairness niab, when you don't earn massive amounts of money and have a family to support, yeah it can be hard juggling finances. i'm really glad you don't have that issue.

Do you know what pisses me off the most, banks can issue you a card where you can't get over drawn. why let you in the first place. because they want you to go over drawn. its like putting sweets in front of a toddler and telling him not to eat em.
 
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#19
i can't believe anyone would try and defend them, in all fairness niab, when you don't earn massive amounts of money and have a family to support, yeah it can be hard juggling finances. i'm really glad you don't have that issue.

Do you know what pisses me off the most, banks can issue you a card where you can't get over drawn. why let you in the first place. because they want you to go over drawn. its like putting sweets in front of a toddler and telling him not to eat em.
I don't like the charges one bit.
When I left uni I had £10,000 in loan, £1000 on credit card, £2500 on my overdraft and I was being charged a shitload.

I don't see wtf I should be charged because others need more money, that is a tax on me.
I am fully aware the financial difficulties that can exist (I am from some rundown council estate, single parent and all that jaz) so please don't try to play the hardup card on me.

I am not defending the bank (if you actually read what I have written), I am stating that if the choise is between me being charged (ie the banks lose) or the person that used more then their agreed limit is charged (the banks win) then I will obviously take the option where I don't get charged

Why don't we all spend 2months in prison, that way those that would have had a big sentence don't get anymore since there is a collective time served


AS I stated the banks will want this money and they will find a way, they have stated (and are pushing) for current account charged (yes I high-lighted the "maybe" but it is actually happening now!) so we either all get charged or they find a different way.

I am just say I don't want to be charged for other peoples mistakes
 

rob_del_terror

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#20
in all fairness mate, i'd rather you paid my dues, i only have a kids account and its highly likely that i won't pay, or will pay considerably less than you. cheers ears. enjoy.
 
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