moneybox radio 4

[Seminole]

http://news.bbc.co.uk/1/hi/programmes/moneybox/5064830.stm

[caro]

Thanks for the heads up. I'll be listening.

[lickthewallfatboy]

did you ever hear anything so pathetic as the bank people sidestepping the question of legality?

 

laughable-if anyone was listening who didn't think about going after them,they are bound to be considering it now!!!

[Seminole]

It may have been radio but you could almost see the A&L woman squirming.

 

Did she really say that if anyone has a bank charge that you could either pop some money into the account or ring them up and they would "extend your overdraft"? Is that a binding contract?

[dave]

Yes, indeed she did!

 

Of course she forgot to say that cash often takes 3 days to 'clear' as well - so just 'popping some cash in' isn't really an option at all.

 

All in all, it was not very good - Marc was good, although he avoided the question as well as the next bank employee!! ;-)

[Robertxc]

I'm impressed with the editing. My entire bit was spliced from about twenty minutes of chat with the guy!

[Robertxc]

It may have been radio but you could almost see the A&L woman squirming.

I thought her obvious discomfort spoke absolute volumes aboutr the bank's predicament.

[Seminole]

Yes, indeed she did!

 

Of course she forgot to say that cash often takes 3 days to 'clear' as well - so just 'popping some cash in' isn't really an option at all.

 

All in all, it was not very good - Marc was good, although he avoided the question as well as the next bank employee!! ;-)

 

Actually (from the comfort of my study and not a studio being interrogated by a journalist) is that a lot of people are actually recovering a few hundred quid. I think it might be worthwhile to do some statistics on the settlements we do know about. The trouble is that the small ones probably aren't being reported.

[caro]

Yes, indeed she did!

 

Of course she forgot to say that cash often takes 3 days to 'clear' as well - so just 'popping some cash in' isn't really an option at all.

;-)

 

Too true. And you cannot tell from your online account how much you really have. I have to confess to concern that their are a lot of people out there who have not experienced the banks "charges" and how it affects your life, and so would worry how it might affect them in the future if the banks started charges for all. There are times when you might not have some cash to "pop" in, and if it's a choice between feeding your family, or feeding the banks greed, there is no contest. It can be hard to understand if you haven't experienced it. Personally I feel that we have behaved responsibly by ensuring that we have fed, clothed and provided shoes for our kids. It will be interesting to see the results of the Beebs survey.

[elsinore]

The spokesperson from the BBA said at one point

 

"You'll have to ask individual banks that, I can't speak for them"

 

What the hell was she doing there then???

 

Elsinore

[bram stoker]

Just listened to this as I missed it at 12. I thought it was tomorrow!!

 

Well done guys for speaking up.

 

Did I hear right that the A&L woman actually said they will pay up rather than go to court and defend, and will continue to do so?!?!?!?

[Michael Browne]

The main points that came over loud and clear from A&L and the BBA was that

 

1. The banks are never going to step into court and they're going to keep paying out

 

2. They will take whatever retalitary action they can think of so open a parachute account before starting action

[lickthewallfatboy]

am I correct in thinking that she has lent ammunition to anyone who wants to challenge account closures when she said they are only closing accounts of those who take them to court-ie anyone who has to resort to legal redress to get back what was stolen from them!!

 

perhaps a transcript of the programme might be useful to A+L potential litigants.....

[bram stoker]

The main points that came over loud and clear from A&L and the BBA was that

 

1. The banks are never going to step into court and they're going to keep paying out

 

2. They will take whatever retalitary action they can think of so open a parachute account before starting action

Loud and clear. And that's exactly what we've all been saying all along. It's unbelievable that they are actually stating this.

[bram stoker]

am I correct in thinking that she has lent ammunition to anyone who wants to challenge account closures when she said they are only closing accounts of those who take them to court-ie anyone who has to resort to legal redress to get back what was stolen from them!!

 

perhaps a transcript of the programme might be useful to A+L potential litigants.....

And when the banks submit to the courts that they will defend and then don't, surely that's a waste of court time and tax-payers money. MY money!!!

[caro]

Whizzkid made this point in his claim against Abbey I believe. Is there a way of lobbying the courts about this generally, or would we be shooting ourselves in the foot?

 

Certainly a point to consider for future press interwiews.

[chrismc]

Very interesting to listen to what was said and the banks response!!

[caro]

Did I hear right that the A&L woman actually said they will pay up rather than go to court and defend, and will continue to do so?!?!?!?

 

Do you think they will still make the claimants do a Moneyclaim, or will they start paying up earlier? If they let a claim go to court, when they have been warned in the LBA that this will be done, they are wasting court resources as Vamp says.

 

I will be able to do a Moneyclaim against A&L on 22nd of this month. Wonder if I can somehow include that A&L have stated they will pay up before court, and what the court reaction would be to this.

[trundlecat]

I think the banks will always go as far as submitting a defence as they'll try to scare off potential claimants until the bitter end. Not to mention, in a few cases I expect claimants will never go to court as they just can't spare the initial £110.

 

The moneybox program & recent press about the subject is making the bank's course of action pretty clear. They will never step into a courtroom so their method of attack is to try & scare as many people as possible into not claiming by:

 

1. Threatening to withdraw banking facilities if you fight back.

2. Saying the word "irresponsible" as often as possible to stigmatise claiming (submitting a claim means admitting being irresposible with your money).

 

They're choosing to fight this phsychologically rather than in the court room.

[Seminole]

I think the banks will always go as far as submitting a defence as they'll try to scare off potential claimants until the bitter end. Not to mention, in a few cases I expect claimants will never go to court as they just can't spare the initial £110.

 

The moneybox program & recent press about the subject is making the bank's course of action pretty clear. They will never step into a courtroom so their method of attack is to try & scare as many people as possible into not claiming by:

 

1. Threatening to withdraw banking facilities if you fight back.

2. Saying the word "irresponsible" as often as possible to stigmatise claiming (submitting a claim means admitting being irresposible with your money).

 

They're choosing to fight this phsychologically rather than in the court room.

 

And they're going to get taken to the cleaners for doing so.

 

More importantly, I don't this stance can survive regulatory and political scruitiny. If the banks are tacitly admitting that their legal position cannot be defended, then their current approach is unsustaiinable.

[caro]

More importantly, I don't this stance can survive regulatory and political scruitiny. If the banks are tacitly admitting that their legal position cannot be defended, then their current approach is unsustaiinable.

 

I am really not convinced that the A&L spokesperson fully realised the implications of what she was tacitly admitting to. I imagine her interview with the journo was much longer, and she may have been lulled into a false sense of security, which has worked to the customers advantage. More incompetence on their part I think>

[Bookworm]

I can't hear it!!!! (My pc has always been funny with real player, et al) anyone gets a transcript anywhere?

 

.

[bankoff]

I could not hear it through aol media player, but you should be able to play it through the bbc radio player. Have consulted with aol help about this, they say maybe bbc does not let you play this on anything but bbc radio player.

 

Hope this solves the problem.

[Bookworm]

Sadly, no. It says you need the Real player or you can play through Windows media player, I've tried both, no luck.

 

Thanks anyway.

[bram stoker]

I think this is repeated at 9pm tonight.