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joss bown

Barclays Charges Scam

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I thought you might be interested in a scheme which Barclays have introduced by stealth which is, more than likely, catching hundreds of thousands of people in a monthly financial trap.

 

Since April I have been charged £280.00 by Barclays for using something called a "personal reserve" This is a £150.00 facility, on top of an overdraft, which i can use. If I use this facility for 5 days or more in any single month then Barclays charge me £22.00 per day for doing so (up to £110 max per month).

 

"You shouldn't use it then" I hear you say.

 

I didn't know I had it. I reply.

 

I didn't ask Barclays for this. They didn't ask me if I wanted it. They didn't tell me they'd given it to me.

 

For the last 5 years or so, if I had reached my O.D. limit then my cash/debit card would fail to work. Barclays would put a stop on my account. I knew to the nearest £50.00 what my balance was but i never checked too often. When in April I inadvertantly strayed into the "personal reserve" Barclays wrote to me informimg me of the charges applicable. I was £10 over my O.D limit.

 

Now, the killer fact in all of this is that I was made redundant in Feb 09. the only income going into my Barclays account is £128.00 per fortnight Job Seekers Allowance. Once in this trap there is no way out. I have written to Barclays informing them of my position. I have sought advice from the Consumer Credit Councilling Service and sent Barclays a break down of income and expenditure. Even though I havn't used my account for a month ( I opened another account where my JSA is paid) barclays are still piling on the charges and interest.

 

This is an absolutely prime example of Barclays thinking up ways to make money from charges. It is a cynical manipulation of the lax financial control of many of people. Barclays know their customers. They know their financial habits. They know they will catch a great many people with this [problem].

 

This is scandalous. This is theft.

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Call up telephone banking and get it removed. It was an opt out service they started in August last year rather than an opt in one. It will save you £88.00 a month. Furthermore, get an account opened with another bank for your JSA so the bank cannot use it and change essential direct debits over.

And reclaim the charges back


.

FSA Waiver on Bank Charges:http://www.fsa.gov.uk/pages/Doing/Regulated/Notify/Waiver/pdf/dir_quart_0709.pdf

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Has anyone been able to challenge this [problem]? Calling it a personal reserve doesn't disguise the fact that it is an unfair term. OFT 842 April 2006.


Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

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Has anyone been able to challenge this [problem]? Calling it a personal reserve doesn't disguise the fact that it is an unfair term. OFT 842 April 2006.

OFT 842 was about credit card defaults. The current OFT test case issues may lead to a challenge to these terms in the courts but as such their terms are not part of the test case.


.

FSA Waiver on Bank Charges:http://www.fsa.gov.uk/pages/Doing/Regulated/Notify/Waiver/pdf/dir_quart_0709.pdf

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That's correct insofar as 842 is concerned but the preamble says the principles apply to analagous consumer contracts such as bank accounts and mortgages.


Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

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That's correct insofar as 842 is concerned but the preamble says the principles apply to analagous consumer contracts such as bank accounts and mortgages.

And we have the OFT test case based on those principles, ie UTCCR 1999.


.

FSA Waiver on Bank Charges:http://www.fsa.gov.uk/pages/Doing/Regulated/Notify/Waiver/pdf/dir_quart_0709.pdf

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Concurred and now we await the newly configured Supreme Court's judgment in October. I don't think Barclays reserve has a prayer if it goes in the consumer's favour.


Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

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Every customer was written to telling them that this service was going to be starting and clear instructions on what to do if you want to opt out.

Barclays is the only bank so far that has reviewed how it charges customers. You are also mistaken in how you get charged for the reserve. If you use the reserve it costs you £22. This covers you for 5 working days (1 week!) and now further charges are charged so long as you are back out of the reserve at the end of that period. If not, then another £22 is charged. The previous way of charging customers would have meant you were charged £30 for going over your limit followed by another £30 for each transaction and possibly £35 for any bounced direct debits. The reserve is a lot fairer way of charging. If you don't want the facility you can have it removed however this means that for each transaction that bounces you would be charged £8 - Barclays can charge you for a maximum of 5 of these per day.

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The reserve is a lot fairer way of charging.

 

Let's have a look at the concept of a 'lot fairer'. By implication the 'other' way of charging is the 'less fairer'. Good. We can agree on that. The question of course is how much is a 'lot'. By this standard of course Pol Pot is a lot better than Stalin.

 

so, mj, does 'fairness' of charge levels enter into the equation?

 

Indeed Kennyh I believe it must. Let's have a look out our old friend the UTCCR's 1999.

 

The Unfair Terms In Consumer Contracts Regulations, 1999, (SI 2083)

 

In 1993 the European Union published a Directive on unfair terms in consumer contracts (Council Directive 93/13/EEC). The Directive was implemented in the UK via the Unfair Terms in Consumer Contracts Regulations 1994, which came into force on 1 July 1995. The regulations were amended in 1999, in the form of The Unfair Terms in Consumer Contracts Regulations 1999 (SI 1999 No 2083) (the Regulations).

 

In respect of Schedule 2 of the regulations a non-exhaustive list is provided of terms which may be regarded as unfair. The most relevant to Barclays reserve are the following:

 

(e) requiring any consumer who fails to fulfil his obligation to pay a disproportionately high sum in compensation;

 

(m) giving the seller or supplier … exclusive right to interpret any term of the contract;

 

(o) obliging the consumer to fulfil all his obligations where the seller or supplier does not perform his; (operation under the laws of England and Wales)

 

(q) excluding or hindering the consumer's right to take legal action or exercise any other legal remedy,... or imposing on him a burden of proof which, according to the applicable law, should lie with another party to the contract.

 

Regulation 8 (1) ‘An unfair term in a contract concluded with a consumer by a seller or supplier shall not be binding on the consumer’.

 

5. - (1) A contractual term which has not been individually negotiated shall be regarded as unfair if, contrary to the requirement of good faith, it causes a significant imbalance in the parties' rights and obligations arising under the contract, to the detriment of the consumer.



 

- (2) A term shall always be regarded as not having been individually negotiated where it has been drafted in advance and the consumer has therefore not been able to influence the substance of the term.

 

The application of such charges is (or at least may be) in breach of the Financial Services Authority’s Treating Customers Fairly initiative. The final deadline for implementation of this initiative by all licensed firms was December 2008.

 

I think Barclays reserve doesn't stand a chance. IN OFT 842 they particularly criticize the practice of re-characterizing charges and disguising them with various nomenclature.

 

A charge is still a charge even when it's called a reserve. And a charge of £22 for slipping even 1p into the red is still an unfair term. If the banks lose, and I think even they think so (Sumption painted a doomsday scenario to try and influence their Lordships) Barclays will become the single most expensive place to bank by a country mile. Not a good place to be sitting for one of Britain's leading current account providers.

 

My opinions are my own. Take them or leave them as you find them.

 

Keep the faith. EiE.


Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

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Contained in a reply to a claim for Reserve Fees " However, following consultation with the FSA we have decided that we should review the impact of the HOL judgement on our Reserve Usage and/or Transaction Fees.....". Now I know that this does not include them in the waiver but is there likely to be any mileage gained by going the distance and incurring court fees?

Also, following a hardship claim (and a partial settlement - letters are about to be sent) on another Barclays/Woolwich claim they say that "In the event that we are ordered......... to make any payment in respect of your complaint, such payment will be made net of the gesture of goodwill payment we are now making". Tongue in cheek I'm tempted to approach along the lines 'No - that IS a gesture of goodwill and won't count against any final settlement' - I know, I know that would be viewed as taking the mick!

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Worth Bumping this thread...Charges issues to be decided soon!


Keep the faith. EiE.

 

Capstone Mortgage 'Services' - Sub-prime garbage - unlawful behaviour/MULTIPLE consumer abuse, TOTALLY in Defiance of REGULATIONS and the law

 

http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf

 

CONTACT CIB Here

 

http://www.insolvency.gov.uk/Complaintformcib.Htm

 

Kevin Hughes(Compliance Manager-main) @ 02920 380 633

 

Lee Jenkins(prosecuting Amany Attia) 02920 380 643

 

Mark Youde(accounts compliance) 02920 380 955

 

Charlotte Allan @ 0207 596 6108 investigating all the Lehman lenders

 

Jeremy Pilcher 0207 637 6231

 

NO KAGGA LEFT BEHIND...

 

"We would not seek a battle, as we are; Nor, as we are, we say we will not shun it"

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