Guardian Article

[martinwhite]

http://business.guardian.co.uk/story/0,,1713395,00.html

 

One bank has told the Guardian that the charges are needed to "discipline customers who would otherwise have free rein".

 

Can we ask the author of this article, Tony Levene, to say who this bank is?

[martinwhite]

And another:

 

http://money.guardian.co.uk/weekly/story/0,16520,1602775,00.html

 

Author: T Levene

 

Other banks say the charges are important for customer discipline. Nationwide says: "Part of the fees are a disincentive, a discouragement against unauthorised borrowing."

[BankFodder]

I'll ask him.

[martinwhite]

Even the Government calls them a penalty:-

 

http://www.direct.gov.uk/MoneyTaxAndBenefits/ManagingDebt/DebtsAndArrears/DebtsAndArrearsArticles/fs/en?CONTENT_ID=10023269&chk=EQcPWc

 

 

If you go over the limit, or overdraw without arranging it with your bank first, you may have to pay a penalty charge and a high rate of interest.

[stubbarama]

And another:

 

http://money.guardian.co.uk/weekly/story/0,16520,1602775,00.html

 

Author: T Levene

 

Other banks say the charges are important for customer discipline. Nationwide says: "Part of the fees are a disincentive, a discouragement against unauthorised borrowing."

 

This was part of Gary Clays defense against the NW, he had a sworn statement from T Levene stating that NW hadnt challenged this.

[ispartacus75]

Did he win?

[richardc]

See Litigation in Progress. Settled out of court.

[martinwhite]

This topic was closed on 03/06/19.

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