Marc Gander - The Consumer Survival Handbook


A 220 page introduction to all things consumer related by our own BankFodder.

Includes energy companies, mobile phone providers, retailers, banks, insurance companies,debt collection agencies, reclaim companies, secondhand car sellers, cowboy garages, cowboy builders and all the rest who put their own profits before you.

£6.99



Patricia Pearl - Small Claims Procedure - A Practical Guide


An excellent guide for the layperson in how to use the County Court - a must if you are intending to start a claim.

£19.99 + £1.50 (P&P)


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  1. #1
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    Braveheart2009 Novitiate



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    Default RBS Account Termination Letter

    Hi,

    My bank has threatened me to set off my funds I hold with the bank current account and savings against any debt owed?

    Can they do this legally without my say so or do they require approval from the court.

    I don't hold bank accounts with any other creditors which I have credit cards, which is a good thing, however could those creditors access my bank account without my authority is that not a crime?

    Letter attached.

    Thanks.

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  2. #2
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    Default Re: RBS Account Termination Letter

    If you owe a debt with them, then yes they can. However they can only do it within their own group of companies. So halifaxicon cant do it to coop etc.

    Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..


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  3. #3
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    Default Re: RBS Account Termination Letter

    RBSicon are closing your card account down
    if you bank with them or anyone in their group
    then they can take the funds without any need to inform you


    so the bottom line is...do you have any other accounts?

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    Default Re: RBS Account Termination Letter

    One of the negative's with having more than one account with the same Banking group.

    Any advice I give is honest and in good faith.
    If in doubt, you should seek the opinion of a Qualified Professional.

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  5. #5
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    Default Re: RBS Account Termination Letter

    Gawd blimey your arrears are for 141.74 & they really going to terminate your account on that basis!!

    Have you another account you can move your savings too? If not, then go open one & put your savings in there...

    If this were me, that is what I would do whilst sorting out the issue with the RBSicon.

    Hope you manage to get this sorted out!


  6. #6
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    Default Re: RBS Account Termination Letter

    Yes, there is a right of set off.

    Although I expect they would never admit it, I also think that there is a duty of set off. If you have two accounts and one is in credit and one exceeds its overdraft, the bank will normally simply apply excessive charges to the overdrawn account without troubling to use credit in the other account to make up the shortfall.

    This allows the bank to milk you for excessive charges and inflated interest by increasing your level of overdraft on the exceeded account.

    I have always believed that if you have rights then they are accompanied by duties. I have always believed that if you have an account which passes overdraft limit then the bank has a duty to make up the shortfall from your account in credit rather than to push you even more over the edge. Of course, this is disadvantageous to the bank because they make less profit.

    I'm convinced that if somebody troubled to bring an action under BCOBSicon on this that they would win easily. Under BCOBSicon the banks are obliged to have regard to the customers interests when making any decisions. It is clearly in the customers interest to take action to reduce their exposure to excessive charges. It is clearly in the banks interests simply to keep on penalising your overdrawn account.



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  7. #7
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    Default Re: RBS Account Termination Letter

    The bank refused to lower my monthly payments from 50 to 20. They also have refused to send me the original contract (not agreement) also refused to send me a deed of assignment and a bill of payments. They have also harassed me by calling my home phone number and sending threatening letters to a man diagnosed with anxiety.

    They don't care about your interests really anyone who believes that is brainwashed. All banks and debt collectionicon agencies are insured against losses. In fact they make profits from your loss they sell your debt on and get a fee then they claim back from a insurance company on outstanding amount. They do pay a fee to these insurance companies however its peanuts for them.


  8. #8
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    Default Re: RBS Account Termination Letter

    Youll never get a deed of assignment. Its private business information. I think youve been reading info from a FOTL site.

    Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..


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  9. #9
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    Default Re: RBS Account Termination Letter

    get an SARicon running to them.


    dx

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  10. #10
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    Default Re: RBS Account Termination Letter

    what could a SARicon do?


  11. #11
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    Default Re: RBS Account Termination Letter

    The bank refused to lower my monthly payments from 50 to 20
    they are supposed to take into account any financial difficulties. as bankfodder mentioned re BCOBSicon/CONCicon.
    a sum of
    https://www.lendingstandardsboard.or...difficulty.PDF

    is the matter re the rep of ireland.

    IMO

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  12. #12
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    Default Re: RBS Account Termination Letter

    Quote Originally Posted by Braveheart2009 View Post
    what could a SARicon do?

    arm you with everything you might need to counter anything nasty that might happen


    stay off those fmotl sites bh.
    they'll do you no good and only you make you look a fool in their eyes thinking you are a pushover freeman of the land.


    dx

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