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Topic: PLEASE READ THIS (bank charges) (Read 1553 times) |
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invernessguy
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PLEASE READ THIS (bank charges)
« on: Apr 14th, 2006, 1:24am » |
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On 5 April 2006, the Office of Fair Trading (OFT) ruled that bank charges over £12 are automatically presumed to be unfair in terms of the Unfair Terms in Consumer Contract Regulations. Unfair terms are legally unenforceable.
this means that all bank charges over £12 can be challenged going back 6 yrs in england, 5 in scotland.
go to www.bankchargeshell.co.uk
and www.bankcharges.info
i have written my letter tonight to ask for a detailed copy of all charges in the last 5yrs, lets see what they say!!
i hope there is enough to get myself a nice facelift cossie 
donnie
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Baz
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S Reg. 1998 24v Cosworth S2.9 COS (Deceased)
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Re: PLEASE READ THIS (bank charges)
« Reply #1 on: Apr 14th, 2006, 1:28am » |
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Trouble is Donnie, they have now put the final nail in the coffin of free personal banking. I have a business account and have to pay many hundreds of pounds a year in charges. Charges for writing cheques, banking cheques, annual account charges, charges for putting money in and even for drawing money out!!
People have been moaning about banks charging for letters and things for years, but once the floodgates open for charging for personal banking regardless of wether you are in credit or not, thats when the real whinging will start!!
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invernessguy
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2.3 ultima taxi
Posts: 295
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Re: PLEASE READ THIS (bank charges)
« Reply #2 on: Apr 14th, 2006, 1:32am » |
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i agree baz, i have a business account too, but over the years, i have had LOADS of letters each charging me 25 - 38 quid a go... so is it REALLY free banking? my business a/c allows me a few minor indiscretions occasioally, but my personal a/c doesnt, so i am all in favour of claiming as much back from them as possible. after all, they are looking after MY money!
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mr._floppy
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Posts: 100
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Re: PLEASE READ THIS (bank charges)
« Reply #3 on: Apr 14th, 2006, 10:46am » |
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You lot want to change your Banks ( or handle your finances a bit better ) , instead of taking money off me my bank gives me money every month, it's called Interest 
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Baz
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S Reg. 1998 24v Cosworth S2.9 COS (Deceased)
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Re: PLEASE READ THIS (bank charges)
« Reply #4 on: Apr 14th, 2006, 3:42pm » |
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Not on a business account they wouldn't.....and I doubt you will be quite so smug when they start charging personal account customers the way they charge businesses. If you have a business account that doesn't have charges, I doubt it will be like that for much longer..we are about to witness the biggest change in banking for a few decades if all this comes off and everyone except the banks will lose out
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invernessguy
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2.3 ultima taxi
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Re: PLEASE READ THIS (bank charges)
« Reply #5 on: Apr 14th, 2006, 4:42pm » |
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well i am looking forward to it, as on my personal account i have been hit by over 3500 in charges in the last 5 years, and thats before i start looking at my credit cards.... I appreciate what you are saying baz, but you could look at it from another point of view like this....
I am a taxi driver, i get a call to collect you from your house, and take you to work, a routine run, you do regularly. After every run, you pay whats on the meter, but one day the phone rings as you are leaving, meaning you are late coming out.... Its not really gonna cost me much to sit and wait for you for a few mins, so i do. When we arrive at your destination, i tell you the fare, plus 39 quid, guv, cos you were late! OR we could play it the other way, taxi doesnt wait, and i bill you for the pleasure of not going anywhere? you choose?
Now, as a taxi driver, i wouldnt do that to any of my regular customers, but if i was a banker......
My point is, and im sure i have ranted enough, is that the charges are completely disproportional to the amount of effort used by the bank. It doesnt cost them more than 50p to computer generate a letter, but it costs 39 quid to you or me.
I am much happier paying for every service the bank provides me with, ie, cashing cheques, withdrawing money, etc, but not at the rates on my personal account.
donnie
P.S. I intend to use the windfall money that i will get from this, to buy myself a toy.... The best possible ultima 24v facelift i can find 
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Baz
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S Reg. 1998 24v Cosworth S2.9 COS (Deceased)
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Re: PLEASE READ THIS (bank charges)
« Reply #6 on: Apr 14th, 2006, 10:40pm » |
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It isn't for sale mate!!!
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cossie_al
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Ex 24v
Posts: 902
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Re: PLEASE READ THIS (bank charges)
« Reply #7 on: Apr 14th, 2006, 11:11pm » |
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To be blunt I have contested a number of bank chareges over the years and I would say I have got off with about half of them
Its just a case of being bloody minded on the phone or brass necked in the branch 
I enjoy both 
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invernessguy
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2.3 ultima taxi
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Re: PLEASE READ THIS (bank charges)
« Reply #8 on: Apr 15th, 2006, 8:04am » |
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cossie al, i have contested charges on numerous occasions also, and, depending on how i hae approached them, i also got off with about 50%
After going through ol statements, etc, i have found over 2k in charges that i can now reclaim. After paying, and thinking that money was lost, i cant wait to have a nice shuny 24v outside my house the smile will only be greater knowing i have taken the cash off the 'enemy'
never mind baz, im sure there is a v reg out there with my name on it!! 
donnie
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Baz
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Re: PLEASE READ THIS (bank charges)
« Reply #9 on: Apr 15th, 2006, 5:24pm » |
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I doubt it....JohnV keeps buying them
Baz
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Lee
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2.9 12v ultima the mutts
Posts: 448
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Re: PLEASE READ THIS (bank charges)
« Reply #10 on: Apr 15th, 2006, 5:32pm » |
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on Apr 15th, 2006, 5:24pm, Baz wrote:I doubt it....JohnV keeps buying them
Baz
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his name just keeps coming up 
how about a thread on car insurance
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Snoopy
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Very old.BAD tempered and missing friends.
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Re: PLEASE READ THIS (bank charges)
« Reply #11 on: Apr 16th, 2006, 6:51am » |
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NO
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Fitzy
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Re: PLEASE READ THIS (bank charges)
« Reply #12 on: Apr 16th, 2006, 8:22pm » |
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It'll be a while before we can all start claiming back all those bank charges because the bank inquestion (ABBEY) have appealed against the original ruling on the grounds that they never recieved the original documents and under the current law they have to be re-sent all the appropiate paperwork for the bank to review then it has to go back to court again.
Even if the bank loses again it would be years for all the legal nitty gritty to be done before we could claim, this could either mean all charges are frozen or if they continue you can claim more money back.
But the OFT ruling on charges over £12 was only for credit card company charges and not the banks charges which was dealt with in a seperate case, in the bank charges case the judge ruled that some charges they hit customers with didn't relate to the inconvenience cause to them. ie, £39 failed D/D fee for being only £1 short for a D/D, then another £39 fee for an unauthorised overdraft when they take the first £39 fee etc. Again it will take sometime for the nitty gritty side of things to be sorted so we'll all have to wait to claim it all back.
There is one way to get back the banks and credit card companies which is what i do all the time and it is 100% legal and the banks and credit card companies have no choice but to pay up. And that is to start charging them fees too.
Whenever i have to contact my bank or credit card company about something which is there fault i state in the letter on in the phone call that i will be charging them £25 a time especially for letters, obviously at first they will argue that they do not have to pay, but if it has inconvenienced you and cost you time you a legally bound to charge them.
My brother in-law whose a soilicitor drew up a legally binding letter of charges (similar to what they all send us) outlining all my charges and this was sent by recorded delivery to all concerned. So far i have charged the banks and credit card companies nearly £1000 in just under 2 years. You'd be surprised at how many charges they don't hit you with when you have a problem with your account for silly things.
Sorry for the long reply.
HTH
Fitzy
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DON'T KNOW HOW OR WHY I DO IT......BUT I LOVE IT...........
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cossie_al
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Ex 24v
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Re: PLEASE READ THIS (bank charges)
« Reply #13 on: Apr 16th, 2006, 9:36pm » |
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fitzy,
Any chance of a draft copy of that letter
I like the idea of giving these types of companies a bit of their own treatment.
Got a big un at the minute with my good ladies mobile service provider
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Fitzy
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Re: PLEASE READ THIS (bank charges)
« Reply #14 on: Apr 16th, 2006, 11:24pm » |
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Not sure if i've got a hard copy of the letter and can't find it on the PC anywhere, but basically its roughly the same as the "Terms & Conditions" they send you about there charges, but amended for your benefit. Just copy what they have written about their charges and change it accordingly for your own taste as they say.
Having just read a copy of the most recent one from my bank and the part about their charges is all you need to use and change, just make sure you explain exactly what "YOUR" charges are and for what and that should surfice. Basically as long as you explain it clearly and precisely there shouldn't be a problem.
My letter just explained that i would charge them £25 for each letter i had to send regarding any problem with the account that was caused by them or any discrepencies and £10 for a 15 minute phone call, and £25 per visit if i have to visit my local branch to sort it out with customer services or the manager. You'll be surprised how quickly they sort things out over the phone when they realise that its me on the phone, especially when i say i'll go to my branch to sort it out.
Another thing i did was to include in the letter that all phone calls are monitored/recorded for security reasons in case of discrepencies later, this must also be stated to the person on the other end of the phone each time you phone them for legal reasons. Basically thats it.
HTH
Fitzy
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sector-9
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Re: PLEASE READ THIS (bank charges)
« Reply #15 on: Apr 17th, 2006, 12:20am » |
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Surely charging the banks couldn't work? They can charge you because you've signed a contract saying that they can if you break certain clauses. They haven't signed any such contract agreeing to pay charges to you...?
Darren
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invernessguy
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2.3 ultima taxi
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Re: PLEASE READ THIS (bank charges)
« Reply #16 on: Apr 17th, 2006, 10:06am » |
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dont worry darren, it has been ruled in the high court, by the OFT that you CAN now get em all back..... go for it!!
donnie
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Fitzy
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Re: PLEASE READ THIS (bank charges)
« Reply #17 on: Apr 17th, 2006, 11:22am » |
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Darren
Don't panic mate, it does work. as i said i've charged them now for nearly 2 years and i've read about other people who have been doing it for many more years.
The way it works is simply that if the bank is at fault or causes a problem with your account and you have to take the time to contact them to sort it out, you have the legal right to charge for your time, even more so if you have a business account and your self employed.
You just have to expalin about your charges and make them pretty reasonable. When you make a charge against them just don't take no for an answer and keep pestering them for it. In the end they will pay it.
Fitzy
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DON'T KNOW HOW OR WHY I DO IT......BUT I LOVE IT...........
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cossie_al
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Re: PLEASE READ THIS (bank charges)
« Reply #18 on: Apr 17th, 2006, 11:26am » |
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Yep Ive told a few companies for one reason or another that I am recording the conversation and its amazing the difference it makes.
Had a few telphonists refuse to carry on with the call and run off to get a supervisor/manager
It is fun listening to them squirm
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Bren
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Re: PLEASE READ THIS (bank charges)
« Reply #19 on: Apr 18th, 2006, 11:21am » |
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Is it cynical or realistic to take the view that you guys looking forward to a nice windfall will probably be getting the 25 yr free road tax on your Scorps before you get the final chapter (and your cash) in this saga off the banks because
1. This is Britain, and 2. They are banks.
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