Bank Charges

Don't get your knichers in a twist.

I have no idea about the legality of what they do or how they charge. I'm just saying i don't have a problem with the fact banks have charges because i don't spend money thats not mine, which is surely a simpler way to go about things than spending money thats not mine getting charged for it and then having to fight to get it back.

Originally Posted by Chief

IN PLAIN ENGLISH - THEY ARE NOT ALLOWED TO PUNITIVELY CHARGE PEOPLE - A FINE CANNOT BE A PUNISHMENT.

If a fine is not a punishment, then what is it

Where is it written in law that banks cannot punitively charge people - break their rules and they'll eat you for breakfast, just like traffic wardens

I did incur bank charges once, a long time ago when I was a student. It was a painful experience, but one from which I learnt a lot. I changed to a bank that did not levy charges, made sure I had an agreed overdraft with them, and that I didn't break that overdraft limit, which required juggling things on credit cards from time to time. If you make the mistake of incurring bank charges, do something about it - moan & get your money back if you can - and then move to another bank.

to become overdrawn without authorisation is spending someone else's money, Its like going into someones desk at work taking their wallet and helping yourself to THEIR money to pay for your lunch without so much as a by your leave. How happy would you be if I came and lifted money from your purse or wallet without asking??

Now thats just silly - please let me know if you really need me to explain the difference between bank charges and your example above and I shall do - maybe have a little think first??

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Sorry, but its not silly, you are spending money that is not yours without however the money belongs to's permission. That is it, pure and simple. Its not your money, dont spend it, dont get charged!
Whether the cahrges ar to cover costs or are fines or are there to make money is irrelevant. Dont spend someone elses money without their permission + no charge!! or no punch in the nose in the example above

Don't get your knichers in a twist.

I have no idea about the legality of what they do or how they charge.

lol, yet you still feel the need to comment on it. Pretty slick.

All the advice on how to run an account is great - but it doesn't detract from the fact that the banks are operating their multi-billion punitive charges policies illegally.

Where is it written in law that banks cannot punitively charge people - break their rules and they'll eat you for breakfast, just like traffic wardens

The consumer action group forum is down right now; but the legislation that is being broken by the banks is referenced there, some Customer Services Act or other. I will look later for you.

Sorry, but its not silly, you are spending money that is not yours without however the money belongs to's permission. That is it, pure and simple. Its not your money, dont spend it, dont get charged!
Whether the cahrges ar to cover costs or are fines or are there to make money is irrelevant. Dont spend someone elses money without their permission + no charge!! or no punch in the nose in the example above

Ok, replace "punch in the nose" with "multiple stabbings using a samurai sword". The response has to be proportionate to the origional action. The law states this both for self defense etc and also for Customer Services Acts that govern the banks procedures.

Your advice of not using other peoples money is very good - but is really irrelevant. The banks are operating illegally.

I have successfully claimed back 'some' charges from HSBC using this method, and am currently going through a claim with Barclays.

Mind if I PM you about this subjet chief?

[arc123]

Feel free to Akbar - I can provide you with info/advice and links to templated letters if you want to follow up this course of action yourself...........

[mattSV]

There are two issues here.

1) Can the bank morally punish you for using their money without permission (i.e. going overdrawn) - I think that is OK, so long as they tell you (via their standard terms and conditions) what you will be charged for and by how much

2) Can the bank legally take a charge to cover their costs - yes they can. The key argument is whether the charge covers their costs or whether the bank does actually make a profit from that charge.

Oh no cheif, I could never follow up with this kind of action myself. I mean, if your going to go over your overdraft limit then you're asking for trouble, the banks should be allowed to do what the hell they like. Maybe one of the following options:

- remove a finger/toe/ear for every breach of ToC
- when fingers/toes/ears have expired, start on other more important appendidges
- Make offending customers line up in their local branch once a month for a swift kick in the plums from the bank manager
- stamp the word 'thief' on the offending customers forehead using acid.

Blahh, blahh, blahh