Comments on: Save our bank charges!

By: Gary Mellor

Gary Mellor — Fri, 11 Apr 2008 10:10:38 +0000

I dont think you have got the point. People arent really arguing that charges should be taken away all together, just that the level of the charges does not reflect the work required for dealing with unauthorised overdrafts or unaid items. And yes, banks do give overdrafts to low income people, I have a £400 overdraft, increased from £300, because the bank decided to increase it even though i had just lost my job. If it costs the bank £38 to deal with an unpaid item then i want to work for them because i could do several of those an hour and I would be absolutely minted. As you say, there is a huge debt problem in this country, but arent the banks contributing to this by keeping people in debt? Surely charging obscene amounts hinders a person to getting back on track. Also, why would the banks have paid out money already if they dont think there is something wrong with their charges? I wouldnt cough up if I believed I was in the right!!

By: Vic Essex

Vic Essex — Sat, 01 Dec 2007 13:51:44 +0000

Can you help me with late payments on BT Telephone Bills and the charge for not paying via direct debit ?

Thanks

Vicessex

By: JH

JH — Mon, 28 May 2007 21:14:00 +0000

I’ll second what Joycellyn said. I do tend to manage my bank account quite well, but a few years ago, suffered depression, lost a well paid job and took on low paid work to pay the bills. a Direct debit failed incurring charges causing others to fail - a downward spiral leading to £100s of debt - purely down to charges. Went to see the bank and basically told to bog off.

Happy with your free banking ?

By: Joycellyn Akuffo

Joycellyn Akuffo — Mon, 21 May 2007 13:22:05 +0000

Jonathon,

Until I read your post, I hadn’t thought about banks ‘balancing their books’ by charging customers for unarranged borrowing.

I have been charged by my bank before (please see my blg womanwiththreelives.blogspot.com) and it was the excessivness of the charges that willed me on to get the charges refunded.

I personally don’t have a problem with banks charging penalties - as long as they are accurate. One £38 charge that I received from Natwest was for 5p (from my Paypal transaction when I was setting up my bank account to it) and I found that horrendous. i don’t see why they can’t just reject the payment itself - aren’t most of these charges automated anyway?

Also, if people have difficulty ‘managing’ their money, why should they be he ones to pay for other people’s bank accounts - rich or poor? If banks want/need to charge the public for the priviledge of having an account then we should all pay a flat fee. People who are having difficulties managing their accounts should surely not be further penalised for this with hefty bank charges!

I don’t think this is unreasonable…

By: Jonathan

Jonathan — Wed, 16 May 2007 22:00:12 +0000

Everyone pays for their own banking with the deposit they make. It’s not about “poorer” people (who won’t have accounts they can go overdrawn on anyway). And it’s not only rich people who currently avoid bank charges. The issue is the people who don’t know how to live within their means. There are already few incentives for savers and people responsible with their money; the last thing we need is to take one away. Debt, and the way it seems all too acceptable, is damaging our society.

By: Robert Brightley

Robert Brightley — Wed, 16 May 2007 08:03:52 +0000

Your argument is effectively that the poorer and less financially wise customers should pay the banking costs for the richer customers. How can that be fair?