I think its vary sad that 51% think everyone should manage their money better, how selfish an opinion??
I am sure there are careless people who get themselves in a money situation because they are just greedy.
Others do really struggle and the banks do punish them. I have friends who have a bad credit rating as their business went to the wall and they had not protect their own assets.
With three children, they really struggle and I watched as they tried to get a loan for a cheap car and the trouble they had and interests rates quoted was just so terrible.
I really feel for these people especially at this time of year.
Final comment as these bankers get their large bonuses can we as tax payers and therefore shareholders get something back some day soon....... Mr Darling.
Oh and as a Company Director and chance you might want to help SME in the UK because its that sector that will rescue the bankrupt state of this country not the greedy banks and money lenders.

Merry Christmas, oh and the joys of 2010

rhiannon101:

people are so sanctimonious!

You are so right, except you missed out humbug.

I've seen arguments that there is only "free" banking for the many because of the charges paid by a few. Then I've seen an argument "no unauthorised overdraft, no charges". But wait a minute, that would mean the end of "free" banking. I've read arguments that going into an "unauthorised overdraft" is theft, except that incurs an "unauthorised" overdraft interest rate. But wait a minute, other fellow travellers say people should have read the T&Cs which explains what happens when an "unauthorised" overdraft is incurred. So it can't be "theft" and not just because the bank allowed the customer to dip in but because it is paid for.

As I argued in an earlier post if I leave my online account open to be be dipped into, that, rightly, is considered "gross negligence".

And the post question wasn't about "right" but whether it was "fair".

So is it fair that bailed out bankers get a big bonus?

Truly there is a "humbug alliance" out there.

rhiannon101:

people are so sanctimonious!

please explain how reasonable it is to go over by a few pence and be hit bby a £25-35 charge???how is that reasonable?the administration of sending out a letter as a reminder does not cost this much. another profit-making exercise which the masses swallow up.banks already make huge profits - there iis a point at which this usury has to end.

If you go a few pence overdrawn, a quick phone call to the bank will invariably result in the charge being removed, unless of course you go in with all guns blazing. It has happened to me a few times over the years and I have never had a request to have the charge withdrawn refused. I repeat, yet again, that the vast majority of those being charged are 'career debtors', who are often proud of their overdraft, yet complain about the fees.

people are so sanctimonious!

please explain how reasonable it is to go over by a few pence and be hit bby a £25-35 charge???how is that reasonable?the administration of sending out a letter as a reminder does not cost this much. another profit-making exercise which the masses swallow up.banks already make huge profits - there iis a point at which this usury has to end.

Jalexa:

Well, one of the survey choices (sadly) does have a very small overall majority.

But read the question again, very carefully, word for word and then think how it is possible for the majority to have free banking. In other words who is paying for the "free" banking and is that fair?

To be fair, it's quite a huge majority over the next highest option (~28%)

The last option is a bit of a red herring, because I think we could all answer yes to that statement. I certainly think banks rip EVERYBODY off.

With regard to the third option, using my observations, for everyone person/family I have spoken to who is poor and paying charges, I have met 5 who are earning decent money and still living on the never never.

life's_not_fair_get_over_it:

I refer you to mine & the majority view here

Well, one of the survey choices (sadly) does have a very small overall majority.

But read the question again, very carefully, word for word and then think how it is possible for the majority to have free banking. In other words who is paying for the "free" banking and is that fair?

JackieYoga

You , effectively, countered your own argument with your last comment.

The , alleged, unfair charges would not have been imposed had the account holders NOT have made the choice of going overdrawn unauthorised.

I refer you to mine & the majority view here, if you don't want to pay excessive charges then speak with your bank before going overdrawn!

JackieYoga:I really do think that people are missing the point of all this. The case against the banks was brought because of UNFAIR CHARGES for unauthorised overdrafts. The Banks in most cases taking advantage of the most vulnerable people.

I think, we've gone full circle here. Nobody is missing any point. No unauthorised overdraft, no charges. Simples, as the meerkat would say.

I really do think that people are missing the point of all this. The case against the banks was brought because of UNFAIR CHARGES for unauthorised overdrafts. The Banks in most cases taking advantage of the most vulnerable people.

I think some people need to understand where they are liveing and in which times we now live in. The court were right to come down on the side of the banks why should the few cost the many that dont go overdrawn to have to pay bank charges which would have been the case if the banks had lost thats just not fair.
I can remember when i first opened a bank account at 16 many moons ago and haveing to pay £3.95 per month for just haveing that account open if i did not have £100. or more in it thats how banking use to be in what i call the bad old days people today dont know how lucky they are to be able to have free banking and maybe some of these moaner's need to go and live in a country like india where many poor souls are just happy to get 1 good meal a day.

No one has to stave in our country or gets ripped off like folks out there do this is a great country thats why there are so many imigrants in france trying to find a way to get here to them britain is paradise so some here need to get real be glad and happy that you live in a country which is very fair and stop moaning....life is

branchbanker:Jackieyoga is a perfect example of the its not my fault brigade at their finest! She has an overdraft, no proper way of paying it off and brings into it a yound family etc... (violins at the ready!!) Jackie you have spent this money and had not budgeted for a change of circumstances, there are insurances you could take out, savings you could have put away. So therefore should i pay for my bank account so that you don't have to pay charges for mismanagement of your financial setup and commitments?

Bluntly as that was put I would have to tend to agree. I was taught at an early age that if I didn't have enough money saved for that bike/game I wanted, I couldn't have it. I had a small amount of pocket money and that was that. At first I spent it as soon as I got it on sweets and small things, but it didn't take me long to realise that I wasn't getting any more from my parents. This taught me the value of money and more importantly how to handle it. Now that’s a very simple example but the same applies to everyone.

For four years I have wanted my own place. At that time I could get a mortgage and probably several credit cards to help. But I took the responsible decision of waiting until I had the money and also budgeted for future problems. I am only now looking to move into my own property four years later.

I could of easily gone out four years ago and spend money I hadn't got but I didn't. And that's the point here. I genuinely feel sorry for those who have problems beyond there control and that’s where the system falls down in helping them, but I'm sick and tired of those people who felt it was ok to spend beyond there means and try and find excuses to reduce or remove a debt.

Dangerman

Jackieyoga is a perfect example of the its not my fault brigade at their finest! She has an overdraft, no proper way of paying it off and brings into it a yound family etc... (violins at the ready!!) Jackie you have spent this money and had not budgeted for a change of circumstances, there are insurances you could take out, savings you could have put away. So therefore should i pay for my bank account so that you don't have to pay charges for mismanagement of your financial setup and commitments?

Dear Jalexa

"I think some people don't understand the cost to the banking system of people who have unused overdraft limits. All the millions of unused overdraft limits needs to be covered. I expect this is hugely more that the amounts of unauthorised overdrafts incrementally used from time to time."

I quite agree. I've never used my overdraft given to me without asking. I very much appreciate it for unexpected glitches in the system but would be fascinated to know how much these overdrafts cost the banking system. BUT they are a business decision and not customers not bothering to remember they are "on demand" money and getting into a lather when the banks don't want them back on demand. NO typo we have already seen that one institution very reasonably gave three weeks breathing space for what they could have insisted on in 3/4 bank working days.

I note that you used the word "simplistic" in a thread. I get the impression that on this issue you are writing more from the heart than the head.

NoI don't think it is fair at all. There are many people who are in debt and are not at fault. There are many people who go through times of hardship which are no fault of their own and no one will help them, they have to live, have to feed their families and once you are in a bad position it can get near impossible to get out. It does no matter how hard they try and the people who genuinely struggle end up in an terrible state.

Banks love it and make it so easy for people to get stuck. An example of this is when my dad gets his monthly statement, the bank sends along a check for 5k as a loan. If you get red letters every month, can't feed the kids and you get one of those it can make people just do it.

Any for anyone disputing people genuinely get into massive money trouble which is not their fault your living in a dream world and are very lucky.

I think the point ro remind your son is ......... If you do not have the money....... you cannot have it.

If you want something, get a job to earn the money to buy the item. Is that not the way things are supposed to work or are things supposed to be different if you have not the money to pay it back ?