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Bank Charges Campaign Continues

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A third enquiry into he banking industry has been shelved in a week by the City Watchdog.

 

The FCA launched a probe into the revelations banks, insurers and fund managers were 'bribing' financial advisors to sell their products.

 

Several banks received huge fines for mis-selling risky investments often to elderly and vulnerable people.

 

Yesterday the watchdog decided not to publish the results of it's investigation, leading to accusations of a 'cover up.'

 

Sounding sinister.

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The Competition and Markets Authority have said that banks should reduce overdraft charges but still not come down really hard on them.

 

http://www.bbc.co.uk/news/business-36309396

 

Which? are not impressed.

 

1 We don’t think banks always treat their customers fairly

 

2 You deserve better and banks should be publicly held to account for their customer service

 

3 We need your support to convince the regulators, government and banks to deliver better everyday banking

 

More here along with a new petition which already has nearly 50,000 signatures (including mine).

 

http://www.which.co.uk/campaigns/better-banks/?utm_campaign=banksthankyouforward&utm_medium=email&utm_source=whichcouk


 

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The Consumer Action Group is a free help site.

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Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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Thank you andy, although I have already linked directly to the BBC article in that thread in my previous post, as it is directly pertinent to this thread, keeps everything together, and gives context to the which? link. :)


 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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All these years on and still the problem of bank charges rumbles slowly on. Just goes to show the power that the banks have.

 

Fortunately Which? are still on the case but are still looking for support, so please take a look at their latest input and sign the petition using the link below.

 

https://conversation.which.co.uk/money/why-are-banks-still-failing-to-prioritise-their-customers/?utm_source=whichcouk&utm_medium=email&utm_campaign=banking211016


 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Good to see the FCA are looking at overdraft charges.

 

https://www.fca.org.uk/news/press-releases/fca-acts-improve-competition-current-account-market

 

Apologies if this is posted elsewhere but I've posted the link here for completeness.


 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Bank charges need to be heavily reduced!! People are being charged e.g £15 to pay for a transaction of i.e £2 if it takes them into overdraft or over their overdraft. Why??

 

Election coming up. Who's going to take Banks to task and tackle helping those who can least afford this scandal.

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Bank charges need to be heavily reduced!! People are being charged e.g £15 to pay for a transaction of i.e £2 if it takes them into overdraft or over their overdraft. Why??

 

Election coming up. Who's going to take Banks to task and tackle helping those who can least afford this scandal.

 

I've been charged three times with natwest by going over my overdraft twice One for £54 and to other charges of £6, £6 i've complained so many times i dont ever get refunded... im always stay within my overdraft.

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Lloyds are abolishing unauthorised overdraft charges http://www.bbc.co.uk/news/business-40555175

 

Not before time :)


 
 

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So if they abolish now then they must have been unfair in the past..otherwise they would continue ?

 

Andy


We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

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Looks like there's pressure on the banks to stop the high charges taken for exceeding your overdraft.

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In a speech in the city Mr Andrew Bailey CEO of the FCA said he plans to take action to rein in excessive fees, concerning unauthorised overdrafts. In March the competition head Mr Christopher Woolard said 'we can observe disproportionately high fees and charges. There appears to be no clear relationship between the amount borrowed by the consumers and the amount charged by the firm.' The publication of a report on the market is due in weeks.

 

The regulator also took aim at high-interest doorstep lending and the rent-to-own sector, where poor families are encouraged by firms such as Brighthouse to pay for items such as a fridge or tv where interest rates can be punishingly high. Customers end up paying far more than those with the cash to buy goods outright.

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