Grr - Argument about claiming back bank charges

[Scarlett Girl]

I'm discussing this with a bank employee at the moment (not on here!) and it's difficult to think what to say! They've said that people that use an unauthorised overdraft are stealing from banks, and you wouldn't steal from people just because they're rich, would you? That was in reply to me saying that the bank charges are unlawful.

 

I've said back that the banks don't have to allow transactions to go through that would exceed the limit, but they do, and they charge for the priviledge, and they charge for the unauthorised overdraft, and that it's not right!

[callumsgran]

Havent they, the banks, taken the money off us for long enough? They cause people great hardship by taking these charges when people can least afford them, people going unfed, unshod and sometimes resorting to taking their own lives because of debts! Nobody minds paying small fines but the average Joe would have to work 6 hours just to pay 1 fine, is that fair?

[typhoidtoby]

... a bank employee ... said that people that use an unauthorised overdraft are stealing from banks. That was in reply to me saying that the bank charges are unlawful.

 

I've said back that the banks don't have to allow transactions to go through that would exceed the limit, but they do, and they charge for the priviledge, and they charge for the unauthorised overdraft, and that it's not right!

 

When you have an authorised overdraft, the bank is lending you money at a very handsome rate (for the Banks).

 

When you have an unauthorised overdraft, it is effectively the same, except the bank is lending you money at a more handsome rate!

 

The suggestion that you are stealing from the banks is offensive and outrageous.

 

On the other hand, the banks are actually stealing from us.

 

The banks know that their contract contains so much legal jargon that it puts you off even reading it and you just accept it.

If you don't accept it, then the bank simply doesn't open your account.

 

What we didn't know before, and the banks did know, is that their contract contains illegal penalty charges. In effect, theft.

 

Scarlett Girl, I would suggest that the bank employee is ignorant and naive, just as we have been until recently.

[pmhread]

The only way I can go into an 'unauthorised overdraft' is if the bank takes charges when there's not enough money in the account. Funny how they can refuse a direct debit for being 3p short and yet if it benefits them, they will allow it.