Lying banks!

Former Member

ShyBoy wrote: »

I heard it was £12 per charge was the rate the regulatory bank thing said would be an acceptable charge.

I was refering to the possible end of free banking, now they cant milk us with £30 for going over our overdraft they will tax us a tenner a month just for having an account.

Former Member

The OFT haven't ruled on bank charges yet, so any charge they cannot show was justified is illegal. Banks won't show how much the admin costs as its commercially sensitive, so its a legal win. The OFT have said that £12 is the maximum justifiable fee for credit cards (though egg, among others, still charge £16-£20), and its expected they will rule that for bank charges too.

The OFT's ruling isn't legally binding but it will mean that banks will probably only agree to settle the difference between the charge levied and £12- you can go after them for the full whack, but the legal precedent isn't there.

I'm sure some banks will bring in charging (HSBC are experimenting with their First Direct offshoot), after all, how will they be able to cipe with £7bn profit instead of £10bn? The CEOs of all the banks should be treated, Saudi-style, like the thieving cunts they are- chop their hands off, and then chop their cocks off and choke them with it.

Former Member

shyboy I think you're best off using an overdraft as little as possible. Almost 2 years after graduating I am STILL paying off my student overdraft each month, and I only had a £1,000 limit.

As for banks charging, recently I got a letter from Lloyds TSB telling me they would start to charge £30 a year for my credit card. So I cancelled the account. I had never even used the card, they just kept hassling me to get it every time I went in!