How much is a fair reflection of costs?

dave · 27th March 2006, 13:42

A pre-estimate for a breach is allowed in law as long as it reflects the true costs incured by the second party.

E.G. if it cost £33.76, then a £35 fee would not be considered a penalty.

How much do you think the banks should be allowed to charge if their true costs are reflected?

Spiceskull · 27th March 2006, 13:48

Dave,

Thanks for picking up the suggestion. I would further suggest that rather than vote for pre-determined amounts, the poll reflects an average. I would personally say that £2.50 is fair and reasonable, but the option for this value isn't there...

MondeoST24 · 27th March 2006, 13:48

Dave it says "you may not vote in this poll"

Spiceskull · 27th March 2006, 13:52

I think they all do - tried voting in something else earlier...same response.

dave · 27th March 2006, 13:53

Quote:

Originally Posted by Spiceskull

Dave,

Thanks for picking up the suggestion. I would further suggest that rather than vote for pre-determined amounts, the poll reflects an average. I would personally say that £2.50 is fair and reasonable, but the option for this value isn't there...

But that would mean I would have to collate them myself, and I just haven't got the time for that.

MondeoST24 - I have checked the security and you should all be able to vote.

Can you try again for me?

ispartacus75 · 27th March 2006, 13:56

Im not able to vote either

Spiceskull · 27th March 2006, 13:57

Below the chart it says:

Voters: 2. You may not vote on this poll

Spiceskull · 27th March 2006, 13:59

Quote:

Originally Posted by dave

But that would mean I would have to collate them myself, and I just haven't got the time for that

Fair argument - perhaps a few more options? Increments of 50p to a fiver, then increments of £2.50 after that...?

dave · 27th March 2006, 14:05

What options would you like to be able to see?

monkey_uk · 27th March 2006, 14:06

I've been able to vote....!

ispartacus75 · 27th March 2006, 14:09

Quote:

Originally Posted by ispartacus75

Im not able to vote either

Fixed now and voted

monkey_uk · 27th March 2006, 15:11

Ok, own up, who voted for £5.00 ?!

Only kidding, it's a free world (except for bank charges!!!) and we're all entitled to our opinions. I think that this poll is a great idea.

It'll be useful to see what people's views are on this.

Spiceskull · 27th March 2006, 15:19

It's purely theoretical - we are basing our votes on what we think the banks should reasonably charge. The reality may well be that true costs = £6...but then again, if the banks had been transparent about this to start with, we wouldn't be here...

vix2000 · 27th March 2006, 15:20

Just to play devils advocate I've always thought it should be a percentage of the breach. The same charge for going £5 over or £500 over doesn't seem fair to me. £2.50 is 50% of the former.

Spiceskull · 27th March 2006, 15:23

Quote:

Just to play devils advocate I've always thought it should be a percentage of the breach

Expect a few unfavourable replies to that...although it is a fair comment. If 50% was acceptable, would they bother charging if the breach was 50 pence? And what if the breach was £200? I think everyone would agree that a fixed cost is fairer, because they have to do the same work regardless...

vix2000 · 27th March 2006, 15:26

OK. a percentage, with a maximum amount maybe? I still think £2.50 is a lot for going over £1.00.

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