Dick Dasterdly

http://www.bbc.co.uk/news/business-12655347

Some excellent points by Mervyn King regarding the banks shoddy treatment of customers,taking advantage of gullible punters to maximise next weeks profits.
Will it make any difference?... I doubt it.
Though both govts have said it's not their place to run the banks, I begin to wonder if it's time they did,or maybe one major high st.bank at least, in order to set a fair benchmark which others would have to match up to.

angiescarr

Couldn't agree more. I have just been charged £120 because I didn't notice I went overdrawn by £21 and they didn't tell me until 20 days later that they were going to charge £6 a day. Clever revenue collecting eh? I'm quite badly in debt (caused by the recession fall in the £ etc) so this charge is more than serious to me. But I'm trying my best to climb out of it and living on next to nothing.
I read today that we're helping the banks out by 28,000 per taxpayer. That kind of accords with how far down on the deal my husband and I are at this stage.
Living above our means?
Gambling and living above their means kind of sums up what the banks have been doing... Then demanding we pay twice!

JLFS

If you have nothing to lose then gambling with OP money is seen as a bit of a game.

Nothing to lose because, if they make such losses that the bank or institution is in trouble, it will be bailed out. Bonus wil still be paid, not matter how bad the prerformance. Nothing to lose.

If the bank then starts to show a profit, charging customers over the odds for overdraughts, not lending etc, then bonus will still be paid.
Nothing to lose.


After being baled out if they make a profit bigger bonus, nothing to lose.

HBG

After having my every day Spanish account plus an English account for added safety, I now have two Spanish accounts after the take-over by Santander. I watch them both, and you can’t put a cigarette paper between them, they both try and extract as many charges from you as they can.

I get constant phone calls from my friendly friends at both banks offering all sorts of instant wealth deals and offers to insure anything insurable. I did object when Pablo offered me funeral insurance at a really good rate. Maybe I was wrong. She’s got a bad cough at the moment and hasn’t smoked for seven years.

Madridboy

I thought banks were not allowed to make such outrageous charges any more, I remember claiming money back from HSBC before I left the UK after the governmnet had decided that these charges were not lawful.

As for helping out the banks at 28,000 per taxpayer........why not just give the money to us and let us wipe out our own debts and therefore helping out the banks by putting the remainder in the banks.

Dick Dasterdly

It's not always a matter of what they are allowed to do, but what they think they can get away with.
There have been numerous cases in the past where they were found to have been making illegal charges or repeatedly overcharging gullible punters who either didn't fully understand the charging system and small print or didn't bother checking up.
It's usually only when they are seriously challenged with the prospect and possible exposure of losing a court case, that they back down.
I have had experience of banks in three EU countries only, but found their deceitful operating procedures much the same in each case.
I wonder if they are any fairer in the States, where possibly there is much stiffer competition ?

rachelk

More banck scams.....

A few weeks ago my bank (la Caixa) contacted me because my NIE had expired and they wanted to see the new one. They asked me also to bring copies of any insurance policies I had. Strange I thought, and went with just the new green sheet.

The young lady had a look at my green sheet, and told me that the bank was now obliging customers whose DNI begins with X to take out insurance. She explained it on the basis that lots are now just going home and the insurance covers the costs to the bank. She leaned over and whispered conspiratorially that, as a EU citizen it wouldn't affect me, but Moroccans are even being obliged to take out repatriation isurance.

So I asked her what kind of insurance, she said it doesn't mtter, any kind. What? To cover the cost of the account, but can be health, life, car, house insurance? Off she went to photocopy my green sheet and my common sense kicked in. When she came back I pointed out that if this applied only those those with X then it was discrimination. "No," she said, "to those with E as well".

I left, telling her I was not going to take out any insurance, and that if I had to change bank I would do so.

The following day I emailed her and asked for clarification in writing of this new policy. In writing, she said it was not an obligation, just a recommendation.

It goes without saying I was extremely angry that she tried to con me into buying insurance I don't want and don't need.

angiescarr

Absolutely. Any small company that went bust , the directors would be out. Any F up the directors are out. Look at the tiny mess (in comparison) BP made. The director knew he had to go.

What kind f world is it where people keep their jobs and make huge bonuses for screwing people over in more and more imaginative ways ways... Oh yes Porn... Only porn is more moral!

angiescarr

Thanks for alerting us to this Rachel. Maybe you should make this one a thread starter. Cheeky B's

whitelinen

Banks everywhere have been doing this for donkeys years e.g. ringing people up who have a large credit balance trying to get them to invest in some useless product they sell, i´ve even been asked about this whilst paying in at a bank in both UK and Spain letting the whole world know how much I had in my current account. Insurance is the same or indeed any product they are trying to hawk.

Dont understand why you didnt tell them that NIE numbers are for life and dont expire.

angiescarr

We spent thousands over a few years before I realised my husband always took out the payment protection insurance. He was self employed. Under what circumstances (I asked him) would you ever get to claim on that! We were getting deeper in debt in order to protect us from........?
The payment protection racket was what we needed protecting from!

rachelk

It was a bit more than trying to sell. I was told that it was an obligation to buy insurance from them.

Do you know something, my Residencia Card had expired in January, and I assumed that was why they rang, because my ID/residencia had expired. But now I think about it, I didn't even have that when I opened the account. I must have opened it with a passport and the white NIE paper, which as you say doesn't expire.

Anyway, they know now that the green one doesn't expire. I got the impression she'¡d never seen one before though, she asked me several times what was the expiry date.

JLFS

Have you been watching British TV, if you were sold PP plan that you did not need or ask for, or if you were told that you must have it, you can now claim the extra back.

It was illegal and the banks have been paying out millions to people who have sued them

If he culd never have claimed on the policy, being self employed, which you seem to be implying in your post, then this seems a clear case for you to look into it further.

Martin whats his name off the GMTV explains it all on his site and there are even forms to download, to demand you money back...........

He/she who dares.......

angiescarr

Yeah I have heard this before. Actually I've never been much of a 'claimer' I hate paperwork with a passion. Really should chivvy now unemployed OH to do this now we're a bit short though!

JLFS

well, apparently the banks and building societies have earmarked millions just to pay out such claims, so it seems they are expecting them........

It may be on a first come first served basis, I have no idea, so skates on would be best.