Bank of Scotland: Bank of Greed

[garnet]

I just got charged £60 from Bank of Scotland for being £1.04 overdrawn!

What are my legal rights, if i want to hold a protest? I know that it was probably in my contract that they can do this but I just want to draw attention to their customers and future customers what a rip off they are.

Does anyone want to join me?

[Bread Roll]

Quoting garnet from 18:41, 13th Nov 2005
I just got charged £60 from Bank of Scotland for being £1.04 overdrawn!

I think if you go in and talk to one of the staff there, they are generally quite helpful regarding stuff like this. Go and talk to them before taking any action.

[hr]

And as I was picking me teeth out of the gutter St Peter hisself appeared to me and said, "Sean, you wanker" he said.
"Repent yer evil ways or sod off". The he gobbed in me face and turned back into a lampost.

[exnihilo]

They usually are reasonable about it, but you did agree to the charges when you agreed to the overdraft.

Perhaps you think the charge should be proportionate to how much over your limit you are?

[Maidmarion]

I was actually just about to change to Royal Bank, so thanks for that one. Tell them that that has put off someone you know. Also if it's a student account they shouldn't do that. And if they gave you a card where you could go over your limit, rather than one where you can't (they can exist) then it's their fault.

Quoting garnet from 18:41, 13th Nov 2005
I just got charged £60 from Bank of Scotland for being £1.04 overdrawn!

What are my legal rights, if i want to hold a protest? I know that it was probably in my contract that they can do this but I just want to draw attention to their customers and future customers what a rip off they are.

Does anyone want to join me?

[Steveo]

I would imagine you actually have no rights at all, and it is your own fault for going overdrawn, the bank isn't there to manage your money for you.

[hr]

Not my ethics.

[Smith]

Quoting Maidmarion from 14:59, 14th Nov 2005
I was actually just about to change to Royal Bank, so thanks for that one. Tell them that that has put off someone you know. Also if it's a student account they shouldn't do that. And if they gave you a card where you could go over your limit, rather than one where you can't (they can exist) then it's their fault.

Quoting garnet from 18:41, 13th Nov 2005
I just got charged £60 from Bank of Scotland for being £1.04 overdrawn!

What are my legal rights, if i want to hold a protest? I know that it was probably in my contract that they can do this but I just want to draw attention to their customers and future customers what a rip off they are.

Does anyone want to join me?

I believe it was Bank of Scotland, not Royal Bank that did this, because my account will not let me go over my limit, and that is with Royal Bank

[hr]

We're not drunk, we're multi-millionaires...
IMAGE:img.photobucket.com/albums/v516/ryanlewisjones/burlyman.jpg

[Satine]

Well I can't go over my limit, and I'm Bank of Scotland.

Hmmmm....odd.

[Guest]

give your bank manager a ring or go and see him if your home branch is here and ask them if they can remove the charge on the grounds that it wasn't a lot of money and you are no longer overdrawn. it worked for me when i went a couple of quid over for a couple of days. the bank manager won't want to be seen as too greedy. i was the royal bank but they generally like to keep on the right side of the customers. otherwise, just threaten to go to a different bank.

[Garnet]

yeah i was quite angry when I wrote that, not sure if i'll actually have a protest, but watch this space... I do agree with Steve that it was my own fault and that the bank isn't there to manage my money, my complaint wasn't that they should have done that (although it is strange that sometimes the cash machine states i do not have efficient funds and can't withdraw and other times i can, but later get charged.) it was the extreme charge that I got and also they way they trick people into thinking the charge isn't going to be that great, because in the contract and on posters etc it says the charge is something like £30 but then there is an additional of £30 for every month - and obviously when you overdraw it will be on a month-so that really means £60.

P.S.
It was Bank of Scotland not the Royal Bank

[papercutheart]

My mum works for HBOS.

Bank Charges for going over your limit are normal for any bank. It's just a way for them of getting your attention so you realise you've went over your limit.

If you go in and talk to the bank, and say it was a genuine error, you thought you had money there, but it hadn't hit your account yet, they sometimes refund your bank charge.

[hr]

[Thackary]

Go in and talk to them. A simple apology and "I don't think it's reasonable to charge so much for this simple mistake" should sort it out.

[Guest]

I worked for the bank in the summer (credit card dept) but i assume the rules are similar. Although they do not have to refund the charges, if you ask they usually allow people one refund a year.
That goes for late fees, overlimit charges etc.

I think its an unfair system they use, so i like to let people know about this.

[Ben Reilly]

Quoting papercutheart from 17:06, 14th Nov 2005
My mum works for HBOS.

Bank Charges for going over your limit are normal for any bank. It's just a way for them of getting your attention so you realise you've went over your limit.

The interesting thing about what you are saying is that charging for those reasons means that it is an arbitary charge. As such it is likely to be an Unfair Contract Term as defined under the Unfair Contract Terms Act 1977.

There are a number of cases in the courts system at the moment.

[hr]

University of St Andrews Clothing - http://www.standrewsclothing.com

[flarewearer]

Most accounts won't let you go over your limit without prior consultation with the bank, but because of the delays in processing checks, cash machine withdrawls over weekends and dial-up Switch / Maestro payments, it is easily possible to make a number of payments and / or withdrawals even if you only have £10 left in your account. When all the bank records update overnight or on monday morning, many payments come in and pull you over your limit. Your bank tends to honour the payment and then charge you for the pleasure.

[hr]

image:www.magnificentoctopus.com/x/elgar.png

[username]

I am sorry.
Banks are greedy in general. They just try to make money in one way or another. 1 pound 2 pounds or 60! This is how it works, they are miserable.

[papercutheart]

People these days expect something for nothing though. A bank is a businnes, they need to make money, just as every business does.

However people now EXPECT to get overdrafts, money to spend which isn't theirs, expect to get mortgages, money to spend which isn't theirs, and loans, money to spend which isn't theirs.

[hr]

[Guest]

Quoting Ben Reilly from 20:14, 14th Nov 2005
There are a number of cases in the courts system at the moment.

and unless the banks have lost all legal and political clout, they will be fought off...

[garnet]

so why don't you join me in my protest username?

[Ben Reilly]

Quoting from 22:18, 14th Nov 2005

Quoting Ben Reilly from 20:14, 14th Nov 2005
There are a number of cases in the courts system at the moment.

and unless the banks have lost all legal and political clout, they will be fought off...

I would have thought that they would lose in the short term, but I would not be surprised to see legislation that came under a name such as a "Consumer Rights" Acts that just happened to ensure that penalty charges can continue.

[hr]

University of St Andrews Clothing - http://www.standrewsclothing.com

[The chap]

Royal Bank of Scotland are generally very good. The guys and gals in the branch here are very nice. They have a set charge of £10 if you go over the limit and it is possible to even get this refunded if you have a good excuse (like the dog ate your last tenner?).
I have heard nothing but bad stuff about Bank of Scotland, they seem to be a pretty crummy bank. If I were you I would post a nutty turd through the letter box.