Unauthorised Overdraft Charges

What is a penalty charge?

None of what you say changes whether it is a penalty or a service.

In message , Peter Saxton writes

So you would want all cheque guarantee cards removed, and all non 'on-line' transactions stopped?

In message , Peter Saxton writes

Well as I have not used the expression, but you have, then perhaps you can tell me.

Where and uk.finance? "Here" *is* uk.finance!

Not necessarily. Issuing someone with a £100 cheque card and a book of 30 cheques in effect *is* giving the customer an agreed £3k overdraft.

Sorry, I've been fighting on a few fronts of late!

That is the banks decision.

Taken from the Money Saving Expert website:

"The core rule is if there?s a breach of contact under English or Scottish law, any charge should not exceed the cost of the breach. In other words, banks can only impose charges which are in proportion to their costs.

...

Of course when you got the bank account there were terms and conditions (though most don?t read them). Yet that?s irrelevant; a contract must be written within the law, and they can?t enforce a contract with legally unfair terms. Ultimately if it isn't proportionate then it's unlawful, and thus you've a right to your money back."

Letting you loose with a cheque book and card seems as sensible as giving you a gun and ammunition and allowing you to tour American colleges!

Ignoring the appalling bad taste of the above it might interest you to know that millions of people have been 'let loose' with those very things for over 40 years and continue to do so.

Yes, but they use their brains instead of assuming it's a licence to go overdrawn and then whinge about being penalised for having done so! Although the comparison lacked subtlety it comes down to "can this person be trusted to act in a sensible and rational manner in the following circumstances..."?

Still, you can't educate pork, can you?

In message , ®i©ardo writes

Yes, thats right. And that decision was made by a person according to their own judgement, not a credit scoring machine.

:-)

Peter. Leave it. These idiots won't be swayed.

The facts are as follows...

People are claiming that charges made against them are unlawful.

They are asking for them back.

In every single recorded instance, the banks have given them back.

People who are not going to allow those facts to convince them that you are correct are not going to be convinced by any further argument.

Use your time, instead, to try to convince everyone you know to reclaim THEIR charges.

Better still, use it to try to convince Tim that BRs are necessary. But give us a chance to get enough popcorn in first.

As I've said before, if he doesn't even have the time to list the actions that are required to make bank reconciliations unnecessary then how will he find the time to carry out said actions.

I suppose he's too busy saying I haven't explained why a bank reconciliation is necessary thinking that it's the number of times he says it determines whether the lie becomes a truth.

No. They haven't the first clue about the law, they are just following a media bandwagon.

Save your sympathy for more deserving cases rather than fueling the excesses of compensation culture to help the irresponsible.

My favourite bandwagon was the anti-slavery movement...... What's yours?

Have you not noticed ?

It has brought you into a land of milk, honey, increased choice, lower plane fares, greater trade etc etc