Hey folks. MBNA masquerading as Abbey National a friendly Building Society screened through the Cooperative Bank, here in the good ole UK of GB has the mistaken belief that it can screw excess charges from users of it's Credit Cards by charging them £20 for failing to ensure (presumably by Recorded Delivery mail) that it receives their monthly payments for their card use. Now in the real world banks etc run a Direct Debit scheme to cover minimum payment due so that the banker can make the usual high rate of interest to cover costs and make a good profit.
Well you'll be able to read the correspondence and MBNA's sad story of how it has only avoided bankruptcy by ditching Direct Debit for £20 penalty charges. Then after reading it's explanation here, we'll all be able to read the ensuing correspondence with the FSA and Minister; who is also under the impression that theintent of banks is to maximise profits by any means, and screw the public. sorry, I mean "Service' aspect of their responsibilities.
I know Abbey National of PO Box 1048 Chester CH4 9ZZ and MBNA, whose Managing Directors address escapes me at the moment are not the only Finacial institutions 'at it', But they have nominated themselves to me.
So, lucky them. Having the opportunity to explain the sad state of their finances and why it is in our interests to pay them £20 a month instead of the usual DD. Isn't this goin to be fun! :D I'll get the MBNA and Coop Bank important addresses etc from Companies House for the next post