October 31, 2006 at 4:55 pm #1039700staxParticipantOctober 31, 2006 at 5:24 pm #1093405AcidfairyParticipant
yup i know a few ppl who are in the process of doin this masel included…October 31, 2006 at 8:50 pm #1093408titchParticipant
Im in the middle of it, I posted a letter last week.
I hate my bank !!
I used this site – http://www.unfair-bank-charges.com/November 3, 2006 at 11:57 am #1093406e_babesParticipant
The more you complain to the banks about the unfair charges they make the more chance WE as the country will have less and less charges added.
You can even take it to the Financial Ombudsman and register your complaint there. (If I can remember rightly)
Just change your bank to anotherone with lesser charges or threaten them to do so, that should change their attitudeNovember 3, 2006 at 12:51 pm #1093400
Good luck with the claims – they are working as I’ve heard a lot of media reports that the banks are (unsurprisingly!) very unhappy with having to remove the charges…
These have been figured in to the banks profit forecasts and are used as a a way to recover costs from “riskier” customer segments (i.e younger high spenders with transient lifestyles who are prepared to incur personal debt as opposed to middle englanders)
There is a chance that the worst charges will disappear – but so will free personal banking – eventually you will see per-transaction charges (that were mostly removed in the 1980s) re-introduced….
I’ve also noticed a lot of banks are becoming more choosy about what customers they take on – I tried recommending an on-line bank I use to some friends but they were rejected because although they were in full time work they tended to do agency work (they didn’t even want overdrafts though!)
I think a lot of banks don’t make much money from “prudent” customers and have become dependent on profit made from servicing personal debt.November 3, 2006 at 12:59 pm #1093407e_babesParticipant
I feel another campaign of using a whole cheque book and make out lots of money for 1p to loads of mates and ask them to do the same – it will cost the banks loads to process that.
Whose up for another protest against the banks?November 3, 2006 at 1:44 pm #1093401
not sure if it would work as once it actually threatened to cost the banks money APACS would put out an alert and work out some way of “dealing with the protest” – I expect the banks staff would have the power to refuse the penny cheques when presented at the counter or charge for processing them.
the bank could then just charge the originator for the next chequebook as you’ve used “more cheques than a normal customer would”, or just close your account – they can do this at any time they please as “the business relationship has broken down” – provided its not done because of your race/gender….
bear in mind banks have to deal with people waving guns in their staffs faces and international fraud/crime rings, as well as bearing the brunt of years of anti-capitalist protests. Even the shareholders meetings are often invaded by angry people (and not just your average leftie protester type, often capitalists angry because their investment hit a bear market but greed made them blind to risks)
Angry customers are all seen as part of the business risk by banks and they have plenty of ways to subtly deal with them without actually giving in… the only people who can force the banks’ hands are the consumer campaign groups, government and regulators.
People are better off “protesting” by participating in the publicity and letter/writing campaigns, and by using their power within the market by removing their custom from banks with excessive charges and conditions.
Banks have to answer complaint letters by law and cannot charge for doing so – and negative publicity is powerful when there is competition for the business.
OTOH I think the days of easy overdrafts/credit cards may be drawing to a close soon anyway as the banks are realising they can’t get a lot of the money back when individuals with high levels of personal debt just make themselves bankrupt…November 7, 2006 at 8:55 pm #1093409pnoParticipant
I am owed £750.
After following the steps on this site:
I was offered £450 back – which I am accepting, I could get the rest back easy, but I dont want halifax to close my bank account as my credit isn’t that great.
Still better than nothing 😀November 9, 2006 at 7:42 pm #1093410atm23Participant
I’m saying nothing…for obvious reasons:wink:November 10, 2006 at 7:25 pm #1093404MariasupialParticipant
Yup, it works, my mate just got refunded 175 quid raaaNovember 10, 2006 at 8:02 pm #1093411raverbabyParticipant
whats this, charges for being over drawn can, some one please explain?November 15, 2006 at 3:34 pm #1093402
The banks are (predictably) fighting back ; free banking is now being withdrawn by First Direct.
Although this was always a yuppies bank I agree with the views of the finance reporters who say that it is being used as a “sacrificial lamb” to see what response they get from customers –
First Direct deals with the higher net worth individuals it can afford to lose “lower value” customers (the wider HSBC group may pick them up – or it may not)
Free banking and particularly “Easy Credit” was something used to prop up the consumer boom of the 80s and 90s.
As resources become tighter, the world becomes a less stable place (and the banks realise they have lent shitloads of money to people who actually can’t pay it back) it looks like it is now slowly on the way out..November 17, 2006 at 9:25 pm #1093403BoozeyregParticipant
it works as long as you stick at it and don’t take no for an answer, just be prepared they may shut down your account so have a back up.November 19, 2006 at 2:04 pm #1093412munkyboy2kParticipant
As I work in a bank for my day job *gasps* all im gonna say is it don’t cost 20-30 quid to process one of these it’s a just a money making excersise that you would be suprised how many people actually pay. Some guy came in and just paid for charges once! [MAD][/MAD]
The best trick is to say you have been bed-ridden as a lot of places are tightening there rules on this sorta thing
Hope this helps 🙂
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