2006-08-01 04:41:05 · 18 answers · asked by ? 1 in Business & Finance ➔ Other - Business & Finance
they hold all the cards so to use their services they charge what ever they like. i know the feeling......having a £5 direct debit returned then getting billed £38 and a further £30 for going over your overdraft limit hardly seems fair.
2006-08-01 05:06:52 · answer #1 · answered by chris 3 · 1⤊ 1⤋
It is justified because your mistakes cause inconvenience to the bank. If there were no penalties for mismanaging a bank account, nobody would comply with the rules and the policies. If I could write checks for more money than I actually have in my account and then I could just put the money in the bank whenever I got around to it, everyone else would also. And then the bank would go bankrupt.
2006-08-01 04:47:48 · answer #2 · answered by Joe K 6 · 0⤊ 0⤋
How can Starbucks justify charging so much for a crappy cup of coffee? It's just the way it is. Some banks don't charge as much as others and some banks don't charge at all. It's simply a fact of economics. People can charge whatever they want.
2006-08-01 04:44:54 · answer #3 · answered by kinsey_ad 2 · 0⤊ 0⤋
Unfortunately, the system is set up the way it is because too many people's main goal is to find ways to take advantage of systems.
For example, you can write a check today and it won't bounce for a few days. Sometimes you can overdraw money at an ATM. There are lots of people who will use that fact to constantly overdraw their accounts to have money today. A severe financial penalty makes less people do it.
Banks make money on their deposits every night, so everyone who takes money that is not even there is costing the bank money. Sure, one guy's $50 is only costing the bank pennies, but, trust me, tens of thousands of people would to this and end up costing the bank thousands every night.
2006-08-01 04:43:54 · answer #4 · answered by FozzieBear 7 · 0⤊ 0⤋
Because they are a business and not a public service. If you are unhappy with their charges look for a different bank.
2006-08-01 04:47:08 · answer #5 · answered by ARLENE H 4 · 0⤊ 0⤋
One of the previous answers is right . . .
it's illegal to be charged bank charges.
It's all at the website below - you can claim back 6years from banks and building society's and credit cards if you live in the UK.
2006-08-01 04:50:25 · answer #6 · answered by Haggis B 3 · 0⤊ 0⤋
The bank's business is making money. they count pennies. they usually nail you on charges by warning you up front but in an inconspicous way, and emphasize how good they treat people. when you mess up they can justify taking your money from their disclaimer nobody ever reads, and they do it any chance they get.
2006-08-01 04:47:19 · answer #7 · answered by comeKK 2 · 0⤊ 0⤋
They can't anymore... demand a full or partial credit back to your account... check on the Sky News money section of their website, they have some great sample letters to send, if they don't play ball, hit them in the small claims cost where they will not only have to pay you back the money but also costs too...
2006-08-01 04:46:53 · answer #8 · answered by dirtyminx82 3 · 0⤊ 0⤋
Oh my gosh!! Isn't it so annoying when you go over a $1 and they charge you like $40? Let's team up and burn the place down. You be batman. I'll be Robin.
2006-08-01 04:46:54 · answer #9 · answered by gapeach 4 · 0⤊ 0⤋
you agree to their rules when you sign up to receive their services. if you don't like the charges, get a different bank.
if you don't like them all, then start your own bank and charge
more reasonable fees.
2006-08-01 04:44:55 · answer #10 · answered by Sufi 7 · 0⤊ 0⤋