NAB admit their charges are penalties

[diddled]

Strange how NAB now claim their fees are charges for services etc

 

 

2004 Half Year Financial Results

Richard McKinnon, Chief Financial Officer NAB said:-

 

Secondly, a fall in penalty fees resulting from increased charges and changed customer behaviour.

 

2004 Half Year Financial Results - Analyst Briefing Transcript - The National Australia Bank Group - NABGroup

[dave]

Isn't it just!!

[caro]

Might be a useful addition to the court bundle for this group of banks.

[diddled]

Good thinking Caro

 

For anyone who is interested you can watch it by webcast

Half Year Results analysist briefing 12th May 2004

http://www.streamx.com.au/national/hyr04/ab120504/webcast/index.htm?media=vas&etype=archive

Fast forward to around 26 minutes

[hilaryfrances]

well done diddled that is going in my court bundle.. thanks pal Hils

[feefofum]

Are NAB relevant to YB? (apologies if ignorant, just starting thsi for my sister)

[Gogivit]

I think this statement by the CFO of NAS is quite significant. For those that do not know, The National Australian Bank is the parent company of Yorkshire Bank.

 

I would think that all YB claimants print of a transcript of the statement and use it for their court bundles.

[daimo]

I'm new here but I have been a lurker for months and I have found the advice and information invaluable in pursuing my claim against the Clydesdale Bank, so thanks to all. I seem to remember that someone mentioned an Irish bank where it costs about £3.00 for each penalty charge. Does anyone know the name of this bank and its parent company?

[Alphageek]

I seem to remember that someone mentioned an Irish bank where it costs about £3.00 for each penalty charge. Does anyone know the name of this bank and its parent company?

 

 

Here are the links you need;

 

AIB Personal Finance - Work & Money

 

http://www.accbank.ie/content/accbank/cms.nsf/Files/CurrentAcFeesChargesJan2006/$file/Current%20Ac%20Fees%20&%20Charges.pdf

[RossD1968]

I think that this bit of info is a vital addition to ALL YB/CB & NB cases. I would have thought that it will completely undermine the defence, when they claim they are for a service and not a penalty.

I would also have thought that it is something that could also be referred to in any LBA. Get it in early to stop their stalling.

[daimo]

Thanks for the information Alphageek - it was very useful and very revealing.

I looked up the Allied Irish Bank (Republic of Ireland) website and found that they charge 4.44 euros for "a cheque lodged to your account and returned unpaid". They charge 6.35 euros for a "cheque, direct debit or standing order presented on your account and returned unpaid." The Allied Irish Bank also have branches in Great Britain where customers are charged £25.00 for an "unpaid item" and £3.50 or £7.50 for sending out a letter presumably to tell you about the charges. It is the same story with the Ulster Bank which is owned by The Royal Bank of Scotland. The Ulster Bank (Northern Ireland) charges £30.00 for an unpaid direct debit, standing order etc., whereas the Ulster Bank (Eire) charges 12.70 euros.

I don't know if these unequitable charges are common knowledge, but I was certainly unaware of it. Why is the Office of Fair Trading procrastinating about coming to a decision regarding bank charges in this country when bank customers here are clearly being ripped-off by the banking establishment?

Perhaps someone else could check out these figures in case I am missing something or have misinterpreted them. I have found that the easiest way to get access to non-British Banks is through Wikipedia.

Sorry if this information already exists somewhere on this site.

[daimo]

I have just been reading posts in the Lloyds sub-forum and the thread Appeal for Price Comparisons in Space and Time started by Mistermind refers to the anomaly in the fees charged by Irish and British Banks. He suggests that this information should be part of a claimant's court bundle.

Also, since Diddled is interested in information about the NAB, he should read the Australian Report on Default charges by Nicole Rich of the Consumer Law Centre Victoria which is available on this site as it seems to show that the NAB have the highest penalty charges in Australia. This report should also be added to court bundles since it comes to the conclusion that penalty charges are disproportionate to the bank's costs which may be particulary relevant given the NAB's connection to the CB/YB group.

Unfortunately, I don't know how to provide a link to these other threads.

[theodane]

Do I need to send the full transcript for the court bundle or is there a significant part that I can copy and paste please?

[diddled]

I would print off the full transcipt of Richard McKinnons speech, and just use a highlighter to mark the relevant section

[theodane]

Where does the relevant section start please?

[diddled]

2004 Half Year Financial Results - Analyst Briefing Transcript - The National Australia Bank Group - NABGroup

 

1st paragraph of this section

[theodane]

Thanks for that. I presume it's "secondly, a fall in penalty fees as a result of increased charges and changed customer behaviour"

[diddled]

Correct