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Money Box Radio 4, today 9th Sept

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Money Box

9 September 2006

Could banks be forced to cut overdraft penalty charges which the Office of Fair Trading says may be illegal. The Revenue asks three million people to pay more National Insurance, but then says they should think carefully before they do. Plus, Bob Howard investigates why people with good financial records are being pursued by debt collectors. All this and more. You can also visit the Money Box website for further information, to have your say, and to listen again."

Bank of Scotland round 1: £740 + costs settled, still sore over the 8% grrr

Bank of Scotland round 2: £629 +101.15 interest +£39 costs settled.

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I heard a bit of this - once again the banks spokespeople sound like they are 'wriggling' whenever they try to answer questions.


It sounds that if the OFT aren't happy then they will want the banks to detail how the decide on their charges, and the banks will do their level best to avoid telling them :mad:


Anyone else here it?

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Thanks, "fruitycar" for drawing attention to this. It's an interesting development, isn't it?


Here's the link for the interview, for those who missed it;


  • Haha 1


By day, quiet unassuming bank customer - but, by night, .. .. .. .. ..

Barclays Case1

14/03/07 **WON** FULL settlement £3358.39

Barclays Case2

08/09/08 Prelim: please give me my £187.91 back.

Halifax Case1

14/03/07 **WON** Refunded £728 (including £54 costs)

Halifax Case2

08/09/08 Prelim: please give me my £268.24 back.

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What happens if the OFT concludes that the Banks charges are fair and in order ~ can the Banks then come back to current successful claimants for reimbursement?


For that to happen, the banks would have to demonstrate it actually costs them £39 (for example) to bounce a direct debit etc; and that just aint gonna happen as it simply does not cost that for an automated procedure.

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