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Old 14 April 2007, 05:23   #11
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I am trying to figure out if you are a lawyer( solicitor, bar room or otherwise) or a used car salesman, or equiv. Please advise, so I can accurately value your posted info. which tend to come across as a bit whacky to me.
Thanks
Not a lawyer. I have been involved in drafting contracts however where the unfair contracts legislation has been a consideration. And have been following the bank charges issue with interest, since I first became aware of it in the press a year or so ago.

Definitely never sold a used car.

I like to think of myself as being a bit whacky.
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Old 14 April 2007, 08:38   #12
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agree with Polwart..the charges are pretty transparent, although I'd be surprised if many read the t's and c's when signing up for a bank account. Its pretty straightforward, stay in your limit and you'll be fine and if you're going to go o/drawn call the bank to let them know...

the whole call centre thing drives me insane...I called my own company's call centre and nearly had a nervous breakdown trying to explain to one of our indian colleagues about a claim I needed to make on my car insurance. In our case, I'd disagree about Polwarts comments on UK staff, our few remaining UK operators are first class..
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Old 14 April 2007, 16:19   #13
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This is annoying me too.. every where I go I keep hearing stories of peeps recovering thousands,... I hate if I get anywhere near an 'agreed limit', and I'm no tightwad, but I've had my fair share or hardship too. A limit is a limit as agreed by you and the bank, If you go over it, you will pay.. I accept however that these figures should not be exorbitant.

The banks credit control procedures have to be the best to protect their business, so I think they frighten peeps by makeing punitive charges high, in my book its your choice to incur them or not. Even if it looks like you are about to do so, speak to your bank ! usually you will find them accomodating if you can explain your circumstances, and buy yourself some more time to make the adjustments you need, to prevent the situation recurring
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Old 14 April 2007, 16:28   #14
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Personally, it has been many years since i had any issue with these charges, however within the business i am not so good and I use the banks quite gingerly and treat as commodity.
I do believe their referral charges are some 10 euro and I usually argue each of these but they get you with other charges and interest rates to say the least. There is little wrong with their annual returns..

Many Insurance Co and Banks, Health Ins etc are itching to get into Ireland because of their charges. Given the choice if living near the border, I would live on the northern side and perhaps Business and Bank on the southern side???
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Old 15 April 2007, 17:46   #15
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Quote:
Originally Posted by Bigmuz7 View Post

The banks credit control procedures have to be the best to protect their business, so I think they frighten peeps by makeing punitive charges high, in my book its your choice to incur them or not. Even if it looks like you are about to do so, speak to your bank ! usually you will find them accomodating if you can explain your circumstances, and buy yourself some more time to make the adjustments you need, to prevent the situation recurring
I just recovered a lot of money from my bank.

They started charging me after a loan repayment FROM THE BANK IN QUESTION was taken out 3 days earlier than they said they would take it. For the life of the loan they messed about taking it at random times within 3 working days either side of the agreed date. I was weekly paid at the time...
On occasions I found myself unable to buy food and fuel-yet phone calls to them were answered with 'put some money into your account to cover the charges then'. Even when I was ringing them saying 'I'm starving and if you continue this I'm going to lose my job.You are preventing me from getting there by taking money from my account. If I lose my job you'll get nothing' I got the same answer.



The banks are leeches that make huge profits WITHOUT penalty charges.
Is there really a moral reason why they should drive people into unemployment and starvation just to fatten their wallets?
You have no idea how good it feels to be told what they were doing was unlawful having been through what they put me through. Unless you've already got money they regard you as carrion for them to pick.
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Old 16 April 2007, 10:09   #16
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Further to what Nos has quite rightly said, imagine yourself in the following situation:

You're weekly paid. By my calculations, based on a 40 hour week at minimum wage you're talking about 185 a week. By the time you've fed and clothed yourself, paid the rent, bills, bought fuel etc you're probably looking at about 40 a week float if you're lucky. If for some reason you happen to go 10 overdrawn for whatever reason (your mum was ill and you had to spend 10 to park in the hospital to visit her for instance) then wham, you're hit with a 35 fine. So now you're a grand total of 45 overdrawn, so your 40 isn't enough to clear it. So the following week when your monthly car insurance bill is due, they try to take the direct debit which can't clear. Wham, another 35. So you're now 80 and in the situation where your car insurance may be cancelled because you've missed a payment...

etc etc etc ad infinitum.

If you're on a low income and you happen to fall into the trap for whatever reason there is NO escape. You can't close your account or arrange an authorised overdraft at this point so you're trapped.
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Old 28 April 2007, 18:19   #17
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Dont agree. You have a choice. Live within your means or outwith, its up to you.

I do agree that its bad practice for banks to profiteer from those who choose to live on the borderline, but like I said, sort it with the bank to avoid the situation. Why do you think the bank makes so much money ? And ok in the short term they are giving it back..AND... I'm glad some have got one in the eye to the banks and recovered your cash from the rip off level that they charge... but if you agreed to their terms of borrowing, you will be liable for something when you exceed the terms.

Not saying I've never gone over a limit and paid charges, but its a deal you strike with the bank and if you are in breach of the terms, you are liable. Its up to you to sort out your DDs and wages.. not them

Somewhere I think there is going to be a trade off from this fee recovery situation, and who do you think thats going to affect? ..... you guessed right

Now borrowing will be even more expensive. Theyll find a way to make us all pay

IM NOT saying their practices are right I'm saying you should do everything in your power to avoid them taking the money from you in the first place
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Old 28 April 2007, 18:59   #18
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How then in your opinion am I responsible for the bank taking a DD to themselves-ie money paying back a loan from my bank due on the Monday on the Thursday before-then trying again on Tuesday?

I call that theft. They did that to me repeatedly for 2 years-with random days ranging from Tuesday to Monday. Every time they did it it cost me 85.

No-one CHOOSES to live on the borderline.

I'm not saying the banks don't have to make a profit-they make huge profits without these charges anyway. What I'm saying is as they are effectively an essential service for anyone with a job, they should be prevented from gross profiteering. Watchdogs land on gas suppliers,water suppliers and electricity suppliers like a tonne of bricks if they go OTT. Why should banks be exempted?
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Old 28 April 2007, 19:22   #19
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How then in your opinion am I responsible for the bank taking a DD to themselves-ie money paying back a loan from my bank due on the Monday on the Thursday before-then trying again on Tuesday?

I call that theft. They did that to me repeatedly for 2 years-with random days ranging from Tuesday to Monday. Every time they did it it cost me 85.

No-one CHOOSES to live on the borderline.

I'm not saying the banks don't have to make a profit-they make huge profits without these charges anyway. What I'm saying is as they are effectively an essential service for anyone with a job, they should be prevented from gross profiteering. Watchdogs land on gas suppliers,water suppliers and electricity suppliers like a tonne of bricks if they go OTT. Why should banks be exempted?
They wont be exempted IMHO . If you believe you've been stolen from, go to the police, but you know what your answer will be, no joy.

I agree that banking is almost a right, not a 'for profit ' situation, but we dont live in that kind of world unfortunately, and mores the pity. We all need someone to handle our finances, and its an arbitrary situation as to who profits from that,..... the basic money handlers ie banks where your wages get paid in I agree should not be one of them ! no doubt about it
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Old 29 April 2007, 04:30   #20
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No-one CHOOSES to live on the borderline.
Actually Nos I know quite a few people who DO choose to live beyond (or at the absolute limit of their means). I can point you to a several people who are heavily overdrawn, have huge credit card debt, big car loans etc and yet still buy stuff that they don't need.
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