1p cheque day

[HD]

Dave posted about having a 1p cheque day in the Stephens case thread.

 

Any more details, sounds like a great idea

[dave]

Not yet, but keep watching ;-)

 

I'm still not entirely convinced it's a good idea to be honest.

[Spiceskull]

Yes - the downside appears to be that the process would be time consuming for the charities themselves, even though it would not cost them anything. A modification might be:

 

We decide on a date/time and a charity

We all go into the bank (hit a different bank on different days)

Fill in a paying in slip for one penny, and enter the charity's account details

Take to teller for processing...

 

In this way we (the cheesed off customer) can show our disdain for the bank, the charity gets money without being inconvenienced, and we all get our own small share of satisfaction...

[HD]

I can see that would be a downside.

 

Would it be worth contacting some charities and explaining the plan. They could then decide whether processing costs would outweigh the benefit. Some charities would not wish to upset their bank if they were getting favourable terms from them.

[Spiceskull]

The problem with that is that the bank may prove awkward on the BAG account...or may even refuse to process the cheques...

[Spiceskull]

I think the suggestion about paying a single penny in at the branch would be a true example of 'consumer action'...and can you imagine the scene in the bank:

 

Me: I'd like to pay this money in please

Teller: What, one penny?

Me: Yes, one penny

Teller: Sorry sir, we can't process that amount

Me: Sorry, is there something wrong with coins of the realm?

Teller: No, it's just that this is too small an amount

Me: Sorry, you are able to process one penny's worth of interest on my account...

Teller: Yes, but that is deifferent

Me: In what way is it different?

Teller: It just is...sir...

Me: But this is a legitimate deposit...(loud voice)...AND IT'S FOR CHARITY!

Teller: Sorry sir, but we cannot accept that deposit

Me: (loud voice again) Well, that is disgusting...you won't accept donations to charity...I think I will write to the papers about this...

All other customers in the queue: Shame on you [bank], I may take my custom elsewhere

[Seminole]

I hate to be a party pooper but I don't think that this campaign will work. Things like this always sound great and the people who organise them get very excited but this excitement is only matched by the disappointment when only a handful of people take part. If you remember there was a great deal of excitement over renewed fuel tax protests recently but the protestors were so few in number that they actually damaged rather than helped their cause.

 

Until CAG/ BAG is big enough and has the contacts to make its voice heard, I would suggest that individuals suing their banks and sending the bailiffs in (with local and national publicity), writing to local papers and MPs and spreading the word through personal contacts are all likely to have a bigger effect than a penny cheque day.

[dave]

Wholeheartedly agree.

 

I think with a userbase of 13k - maybe 5% of people will actually write the cheque - amounting to about 6 quid for the charity - charities are not allowed to NOT accept any donations - this would probably cost them a lot more than the 6 quid they would 'gain'.

 

Also, I don't think that it's legal. We would effectively be causing willful damage, now while I cannot think of a law that covers this, I'm sure a bank with huge legal teams and unlimited funds could find one.

 

I also think it portrays the message "we can abuse the system, so we will." - and doesn't make for people (press included) taking the "overall" campaign very seriously.

 

The banks would probably just chuckle at a 1p cheque day.

 

I think if people want to 'hurt' the banks, then they should continue to tell everyone about this site, which ultimately leads people to getting their money back.

 

The banks already know that people are not happy with being charged - who would be?

 

The true way to show level of anger/feeling is to continue to challenge the banks and get your money back.

[Spiceskull]

Okay...I agree.

[alanfromderby]

But if 13,450 people would each like to send me a 1p coin, I would be happy to pay it into my bank account!

 

2p if you are feeling generous!

[Spiceskull]

What are the rules on paying a 'large sum' in one penny pieces? Considering that retail outlets do it all the time I should think that there isn't a law...

[Guest stephen]

there is no law against paying in a 1p cheque and it would not only be BAG it would be promoted in the National media for every body in the UK to join in.

[Seminole]

From the Royal Mint website:

 

Q What is the legal tender amounts acceptable for the United Kingdom coins?

Legal tender has a very narrow and technical meaning in the settlement of debts. It means that a debtor cannot successfully be sued for non-payment if he pays into court in legal tender. It does not mean that any ordinary transaction has to take place in legal tender or only within the amount denominated by the legislation. Both parties are free to agree to accept any form of payment whether legal tender or otherwise according to their wishes. In order to comply with the very strict rules governing an actual legal tender it is necessary, for example, actually to offer the exact amount due because no change can be demanded.

 

The amounts for legal tender are stated below.

 

BANK OF ENGLAND NOTES:

 

In England and Wales the £5, £10, £20 and £50 notes are legal tender for payment of any amount. However, they are not legal tender in Scotland and Northern Ireland.

 

COINS:

 

Circulating coins are legal tender throughout the United Kingdom for the following amounts:

 

 

£2 - for any amount

 

£1 - for any amount

 

50p - for any amount not exceeding £10

 

25p (Crown) - for any amount not exceeding £10

 

20p - for any amount not exceeding £10

 

10p - for any amount not exceeding £5

 

5p - for any amount not exceeding £5

 

2p - for any amount not exceeding 20p

 

1p - for any amount not exceeding 20p

[Spiceskull]

That is very interesting - the banks are only legally obliged to accept 20 one penny coins at a time...and it also seems to imply that unless previously agreed, the bank is not obliged to process multiple cheques of a penny either...

[joneshousehold]

What about £1 then?

[alanfromderby]

If 13,450 people would each like to send me a £1 coin, even better!

[Guest stephen]

The idea is every person pays a cheque to the bank made payable to a charity, the rule about 1p x 20 is per person

I.e. I cannot write 20 cheques for 1p but my mate, uncle brother can all pay 1p cheque in to an account number.

[dave]

I still don't like it.

 

I'm not convinced that the banks wouldn't see this as willful damage.

 

...because that's what it really is.

[thegoodsamaritan]

I'm with you on the whole bank charges are illegal and you should claim them all back but i have to say..

...1p cheque day would be a waste of time. (believe me I've had pay-ins for 1 pence a few times and it is always a laugh! )

 

As already pointed out there are only 13,000 users on this board.

There are more than 14,000 banks in the UK (according to tv last night)

Even if all 13,000 from the forum all went into the bank and paid in a cheque for 1p this is less than one person per bank.

 

It would only take the teller 20 odd key presses and a matter of seconds to process this. (and if you'd already filled out the slip we wouldn't need to do anything at all!) Then the cheque and payinslip would be fired away with the rest of the days work where it is automatically scanned and processed at no extra cost to the banks.

 

As my flatmate has just pointed out I think you'd be more annoyed at having to stand in a queue for 10 minutes to do this in the first place than wasting a whole 15 seconds of the tellers time.

 

I once knew of a guy (think he had mental problems! ) who insisted on paying in 20 £1 coins each as a seperate transaction and each of them had to have a different reference keyed to appear on his statement, that would have taken a bit more time (maybe 5-10 minutes??)

 

Then again as we offer a service I'd say the banks are within their rights to refuse to serve you if they so wish - this is not against the law as some people have said.

[dave]

I've got to say - I agree.

 

I think it would be an embaressment to even try this.

 

It would not make the slightest bit of difference to the banks - all that would happen is a couple of hundred people (at best) would waste their time writing out a cheque and/or paying in a penny after queing for ages in a bank.

 

Nope - I think there are far more effective ways of letting the bank know you are fed up with their unlawful charging - taking the money back from them for one.

 

Writing to your MP for another.

 

Spreading the word of this site to everyone and anyone.

 

Ensuring that you don't get ripped off again, by ANYONE.

 

etc...etc...

 

I think maybe a petition would be a better idea. Let's wait and see what the OFT has to say when/if the banks do not comply with their request in a few weeks first though.

[thecornflake]

I fyou really want to annoy your bank write a cheque on the side of a cow and then pay it in. And yes it is legal. As long as the cow isn't stolen.

[alanfromderby]

That would be a good moo....ve!

[Guest Lueeze]

That would be a good moo....ve!

 

Oh dear me thinks some people (no names mentioned:rolleyes: ) need a bit of time away from BAG!

[thegoodsamaritan]

I fyou really want to annoy your bank write a cheque on the side of a cow and then pay it in. And yes it is legal. As long as the cow isn't stolen.

 

Yes you're right paying in a cheque written on a side of a cow (or anything else with your account number and sort code on it) is perfectly legal - I remember seeing it on "How 2" years ago (anyone remember that programme?)

That being said... banks are within their rights to refuse pay-ins and I think this is obviously what they'd do. Shame really it would have been fun!

[alanfromderby]

Make a right mess of their scanning equipment!!

 

If you really want to cause a panic, write you cheque on the side of a duck with a bit of a cough!