Cashminder

[Mr Worried]

We have a joint cash-minder acc and banking has been sporadic over last few month re change of jobs etc. missus becoming unemployed.

 

Co-op wrote saying you don't have an overdraft etc and if your current account conducts itself without sufficient funds then we will close account.

 

Then they fine me £15.00 per item

 

So do I react and explain again and outline the circumstances behind the running of acc. or do I ask them why yhey threaten me then take £15.00 a pop?

 

Mr

[BankFodder]

Is this a basic account? Have they permitted an overspend - or simply blocked payments and levied charges

[Mr Worried]

Is this a basic account? Have they permitted an overspend - or simply blocked payments and levied charges

 

Yes Cash minder is a basic account, they have not authorized od. they block payments if insufficient funds and then charge me £15 per item.

[BankFodder]

Thank you.

 

I think that this is very unfair.

 

Please read this thread here - http://www.consumeractiongroup.co.uk/forum/showthread.php?440572-Yorkshire-Bank-refuse-to-consider-paying-back-bank-charges&p=4685563&highlight=basic+account#post4685563 and my comments at post 8.

 

Does any of this interest you?

How much have they taken in total so far?

[Mr Worried]

Thank you.

 

I think that this is very unfair.

 

Please read this thread here - http://www.consumeractiongroup.co.uk/forum/showthread.php?440572-Yorkshire-Bank-refuse-to-consider-paying-back-bank-charges&p=4685563&highlight=basic+account#post4685563 and my comments at post 8.

 

Does any of this interest you?

How much have they taken in total so far?

 

They have had over £200.00. in charges at £15.00 per charge. as I type I am on the phone (0845) for the last 36 mins, to a person who keeps putting me on hold to 'clarify' . I explained the change in circumstances etc, and that we would manage the account better in the forthcoming weeks and going forward, they did not give a jot, and repeated that Cashminder has regulations and conditions so that we cant have an overdraft and any dd not paid will carry the £15.00. charge. so that's it then folks, seems I am scuppered with these charges etc.

[BankFodder]

You have been on the phone. Did you read our customer services guide before you did this?

 

Did you read the thread I linked you to?

 

Would you like to take so,me action to get your money back?

[Mr Worried]

you have been on the phone. Did you read our customer services guide before you did this?..........yes

 

did you read the thread i linked you to?.......... Yes

 

would you like to take so,me action to get your money back?

longshot. As coop customer services said they cant be reclaimed such as the conditions of cashminder acc ?

[BankFodder]

Banks terms and conditions our subject to overriding statutory duties. This includes for instance the Unfair Terms in Consumer Contracts Regulations and also BCOBS.

 

If there is a conflict between the banks terms and conditions and their statutory duty to treat you fairly, then they must treat you fairly and the contractual provisions that they are relying upon are not enforceable.

 

Do you really believe everything that the banks customer services department tell you?

[Mr Worried]

Banks terms and conditions our subject to overriding statutory duties. This includes for instance the Unfair Terms in Consumer Contracts Regulations and also BCOBS.

 

If there is a conflict between the banks terms and conditions and their statutory duty to treat you fairly, then they must treat you fairly and the contractual provisions that they are relying upon are not enforceable.

 

Do you really believe everything that the banks customer services department tell you?

 

Hi Bankfodder....No not at all, I despise the recent conversation I have just had with them, but I dont want to rock the boat incase they close the account then I will be up the creek so to speak. are there any other banks I can try for basic account ?

[fletch70]

The problem with the cashminder account is that they do reserve the right to close the account after two overdrawn or returned payments. I am assuming that the payments that have not been made are either DD's or SO's.

 

HBOS do an easycash account and Yorkshire might consider you.

[Mr Worried]

The problem with the cashminder account is that they do reserve the right to close the account after two overdrawn or returned payments. I am assuming that the payments that have not been made are either DD's or SO's.

 

HBOS do an easycash account and Yorkshire might consider you.

 

I have had approx 12 returned due to insufficient funds, and three letters advising that they may close acc, yes all were dd's, however I have cancelled all dd's from today till i sort my finances which have only went pearshaped since missus lost her job 6 month ago.

[BankFodder]

Hi Bankfodder....No not at all, I despise the recent conversation I have just had with them, but I dont want to rock the boat incase they close the account then I will be up the creek so to speak. are there any other banks I can try for basic account ?

Of course, you are right to be concerned about the possibility of account closure. However it would be unfair of them to take this action in retaliation against you simply for enforcing the rules. If they have a pattern of not closing your account despite repeated returned payments and then they suddenly leap into action once you have begun a BCOBS action, I would say that this would be prima facie evidence of further unfair treatment and you could add this to your complaint as well. In fact if I started to threaten them with BCOBS, I would point out at the outset that if if they took any action to close the account, that it will be considered to be a retaliatory closure and therefore unfair and that that would also be added to the BCOBS claim.

 

Also in your favour is the fact that if they have been taking money under fairly from your account, then you have a very good basis for saying that the fact that they have left you short of money has itself produced further financial problems for you and that this has led to the further returned payments.

 

In other words their unfair treatment of you is precisely what has put you into position where you have not been able to manage your account properly. We can call this a "but ... for" test. But for their unfair treatment, the account would not have been mismanaged.

 

I think that this is a powerful and winning argument and of course it is the basis of all unfair treatment.

 

If you wanted to begin an action under BCOBS against the bank then I rate your chances as very high. In fact I rate the chances very high that they would come back to you and settle in order to avoid the action. I am quite sure that the banks would be petrified to find BCOBS action being brought against them for this kind of thing because there is a lot of money to be refunded if the principle is established.

 

I certainly think that you are right anyway to be concerned about the account closure and I would start looking around for a parachute account. It never does any harm to have two or three UK bank accounts around because it gives you a certain flexibility and immunity from vindictive and vengeful action by your friendly British High Street Bank.