Bloody Barclays

[FC Domains]

I'm just wondering if anybody else has seen had this.

All my direct debits for March (first due on the 13th) were taken from my account on 29th Feb.
As it happens there weren't enough funds in the account, so they paid it from a different one. And looking at payments, they are all still due for March.
What are they playing at?

 

[Admin]

I've not had that...

 

[julian]

do you think they perhaps a bit short of dosh?

guess they won't be far behind the rock - sold a few sub-primes didnt they? :mrgreen:

 

[devolution]

HSBC do the same too - they move money from other accounts if not enough money in the main account.

IMHO this is illegal, and with regards to this, the unfair fees etc., and other things, I'm currently pursuing them for 5-figures.

Banks are so greedy, and they prey on those who don't have 'classic' income. (IE: Regular, same-time, same-amount payments).

 

[GreyWing]

HSBC do the same too - they move money from other accounts if not enough money in the main account.

IMHO this is illegal, and with regards to this, the unfair fees etc., and other things, I'm currently pursuing them for 5-figures.

Banks are so greedy, and they prey on those who don't have 'classic' income. (IE: Regular, same-time, same-amount payments).

But they are free

You can't expect them to run all their call centres and branches without charging. Personally I'd rather they continued with charging people who break their conditions, than charge everyone a monthly fee.

Although if they have made mistakes with moving people's money round, then you should be able to charge them the same amount as they charge you.

 

[devolution]

GW, the amount of interest they withhold (compared to their base rate) on accounts (especially current accounts) is more than enough to cover the cost of operating the accounts.

When you put your money in a bank account, you are technically loaning the money to the bank (that is why they pay you interest).

So this technical point could forseeably be the hinging prong of the unfair bank charges case. That the interest they pay you is extortionately disproportionate to the charges they charge you if you borrow from them. (Whether authorised or not).

 

[GreyWing]

GW, the amount of interest they withhold (compared to their base rate) on accounts (especially current accounts) is more than enough to cover the cost of operating the accounts.

When you put your money in a bank account, you are technically loaning the money to the bank (that is why they pay you interest).

So this technical point could forseeably be the hinging prong of the unfair bank charges case. That the interest they pay you is extortionately disproportionate to the charges they charge you if you borrow from them. (Whether authorised or not).

The only thing I could say is shop around for a better bank, although probably not much point as they all charge and pay around the same.

So maybe one for the competition commission, although they aren't going to do anything either.

Although Northern Rock are paying out good APR's at the moment, you are a shareholder you know :-D

 

[retired_member32]

HSBC do the same too - they move money from other accounts if not enough money in the main account.

IMHO this is illegal, and with regards to this, the unfair fees etc., and other things, I'm currently pursuing them for 5-figures.

Banks are so greedy, and they prey on those who don't have 'classic' income. (IE: Regular, same-time, same-amount payments).

the problem is none of the british banks will payout until the back end of this year,most of the big banks are in court because the oft(office of fair trading)have bought a case against unfair default charges,it costs the banks £2.50 to handle an unauthorised overdraft and some banks are charging £50 to handle this,which under british law is unlawful,before this case was opened the british banks have handed back £1 billion pound in charges.

defaultcharges/com

 

[stevebrowne]

I also noticed on my onlin banking on Saturday (29th Feb) that all direct debits for today (03-March) had already left the account. There was also someone questioning this at my local branch when I was paying in some cheques. I find it amazing that they can just help themselves 2 days before they are due.

 

[disruptive]

All I can say is that Natwest must also be 'hard' up. They send me a letter every week asking me when I am going to start paying back less than £1,000 on an interest free overdraft....they never used to....maybe they are feeling the credit crunch.

 

[retired_member32]

well a very good friend of mine who work's for a bank says that they do not want the rich to apply for credit cards because they are no good for business due to the fact that they pay there credit card monthly and on time ,they prefer people who are unemployed or on a low income because these kind of people can only pay the interest and this is good for business,he was telling me how they bombard council estates with offers for credit cards and loans hoping they default on payment.

 

[monaghan]

Electronic transfers are what gets me, when I left school many years ago, I worked in a clearing dept (we used to do the boring manual prep for cheques going into the computer and the manual input of the stuff rejected by the computers). It used to take 3 days to get a cheque from a branch into a customer's account. 1 day was the prep in the branch, this was then sent to clearing, we'd process the cheque on day 2 and it would get transferred by the computer on a batch run in the early hours of the morning ready to draw funds as from the start of business on the 3rd day.

If I pay my credit card on-line with my debit card, it takes 5 days before it's credited to my account (of course it's debited from my bank on the same day) it takes no human effort from the bank or the credit card company and takes 2 days longer than the whole manual process used to take when I'd go into the bank branch and pay in a cheque over the counter.

 

[disruptive]

aha.....the banking system....

its designed to keep 'us' poor. What the banks do as already indicated is to Cherry pick customers. They make bugger all from me. No mortgages, no debts (apart from interest free). But have to service my bank account. I do this with all my accounts - I have about 20 bank accounts, some almost empty. All I am doing is costing the bank money.

Re - the payment, they will take your money for payment immediately but then there is a lag before that money gets credited to the recipient. Its just yet another way to make money. The banking system is not transparent and they 'the banks' do not want it to be either. At any opp they want to stiff us.

All I can say is I can remember a time when I had more in banking shares than earning interest in their accounts - it makes more sense and more money!

All I can say is that banks are chasing their money...and my money too. They need cash - products/mortgages/ etc...anything they can make money on. Always trying to sell me their ridiculously prices investment products.

If you want my advice stick it under the mattress ;-)

 

[retired_member32]

aha.....the banking system....

its designed to keep 'us' poor. What the banks do as already indicated is to Cherry pick customers. They make bugger all from me. No mortgages, no debts (apart from interest free). But have to service my bank account. I do this with all my accounts - I have about 20 bank accounts, some almost empty. All I am doing is costing the bank money.

Re - the payment, they will take your money for payment immediately but then there is a lag before that money gets credited to the recipient. Its just yet another way to make money. The banking system is not transparent and they 'the banks' do not want it to be either. At any opp they want to stiff us.

All I can say is I can remember a time when I had more in banking shares than earning interest in their accounts - it makes more sense and more money!

All I can say is that banks are chasing their money...and my money too. They need cash - products/mortgages/ etc...anything they can make money on. Always trying to sell me their ridiculously prices investment products.

If you want my advice stick it under the mattress ;-)

problem is disruptive it must get on your nerve getting into bed via a step ladder every night.

 

[Jeewhizz]

http://news.bbc.co.uk/1/hi/business/7267406.stm

Soon, things will change

 

[aZooZa]

well a very good friend of mine who work's for a bank says that they do not want the rich to apply for credit cards because they are no good for business due to the fact that they pay there credit card monthly and on time ,they prefer people who are unemployed or on a low income because these kind of people can only pay the interest and this is good for business,he was telling me how they bombard council estates with offers for credit cards and loans hoping they default on payment.

Credit Risk Analysis doesn't work like that. No card issuer is going to seek out customers who they think will end up in default.

 

[devolution]

We only need to look at how mortgage brokers / estate agents have signed people up for huge mortgages they damn well know will never be able to afford the repayments after a while... I think there is a huge 'blind eye' mechanism at work in the financial sector, meaning that they will lend to people if they know they can make money from them, even if they are a credit risk... If people pay up each month, then they don't make any money, so the money has to come from somewhere, and it comes from those people who can't afford to pay up each month, and hence shouldn't be spending that money in the first place!!!

It's a corrupt and immoral system - but we all rely on it and use it everyday, and it won't change until there is a huge mind shift in the world.

 

[aZooZa]

We only need to look at how mortgage brokers / estate agents have signed people up for huge mortgages they damn well know will never be able to afford the repayments after a while... I think there is a huge 'blind eye' mechanism at work in the financial sector, meaning that they will lend to people if they know they can make money from them, even if they are a credit risk... If people pay up each month, then they don't make any money, so the money has to come from somewhere, and it comes from those people who can't afford to pay up each month, and hence shouldn't be spending that money in the first place!!!

It's a corrupt and immoral system - but we all rely on it and use it everyday, and it won't change until there is a huge mind shift in the world.

Yes, it's immoral, but the difference is between secured/unsecured borrowing. Mortgages are placed against equity/assets. Credit card debt is more open to bank abuse as it's generally never a secured debt. That's why it's harder to get unsecured credit - the gist of my original post. No bank is going to give you a credit card if you are a 'credit risk'. At the end of the day, the banks have to ensure their borrowers can meet their commitments, and they are now very mindful of that. Check out 'Egg's' recent knockback of CC holders.

 

[retired_member32]

"However widespread reports emerged early last week that the credit card company, which was bought by US-owned Citigroup last year, had cut off diligent customers because they were unprofitable.

These are customers who regularly paid off their balance in full every month and did not incur interest payments, a big money-spinner for credit card companies.

Complaints from the powerful Treasury Select Committee and former Labour consumer affairs minister Nigel Griffiths have now resulted in an informal inquiry by the Office of Fair Trading before a possible official investigation"

source:financial times

i have had my egg card removed because i pay my bills on time without incuring interest.

 

[aZooZa]

Qed.......