"It's Deja Vu all over again" - Yogi Berra

[martinwhite]

Assume the following to be true:

 

- I write to my bank claiming £xxxx in charges

- They deny the claim

- I sue them in County Court.

- They pay up

- They close my account

- I take up my parachute account

 

The first time I get a charge from my "new" bank, do I start this process all over again? There's only so many times you can go round this loop - there's only so many banks. We KNOW they're all the same, so little gained in the long term?

 

Can I point out to a new bank "Don't even think of charging me as I know you know I know it's unlawful!" Has anyone attempted to negotiate T&C with a bank for a new account?

 

The first bank to agree not to charge a new customer will a) get inundated with new customers b) ostracised by all the other banks c) open an even bigger deluge of claims against itself and others.

 

What's the individual's long term plan for new accounts (obviously aiming not to get charged in the first place is best)? How can we ever get on an honest and even keel with the banks?

 

I sent a letter to my MP Alistair Burt yesterday. How long should I leave it before chasing him for a reply? a month?

 

Thanks

 

Martin

[jmcdyre]

Some great points raised there.

A bank that stopped these charges would indeed get lots of customers.

Interesting that they don't just put "stops" on accounts that are overdrawn, they actually want you to be overdrawn.

I think it should happen that when you get close to your overdraft, DD's/card payments etc are just stopped, then the payee has to ask you personally for your money or else they will stop whatever service they are providing you with. Lots more transparent!!

[richardc]

They do put stops. They don't pay DDs, Standing Orders, cheques etc and charge for each item they don't pay

[intersimi]

The way "these" sorts of banks could operate is in its interest charges. So if you use your authorised O/D then you pay (for arguments sake) 5% APR on what you borrow. If you go over this, you pay 30% APR. So if you go £100 over for 30 days, you will pay (approx) £2.50.

 

Plus, if the bank sends you a letter informing you of this, they should charge you what it costs them, so say 50p, on top of the interest.

[jmcdyre]

sorry richardc,

I was referring to the way in which many banks will let you use your debit card, and then charge you each day for being overdrawn, and charge an additional amount as the overdraft gets higher.

With DD's there is no way anything should be charged, if you check statements the money comes out of your account, and then is put back in at the same time. Just don't bother trying! surely!

[martinwhite]

This topic was closed on 03/06/19.

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