| Re: Banks make killing on 14 million overdrafts [message #376041] |
Fr, 31 März 2006 19:00 |
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In message <1143818192.039887.72110 [at] v46g2000cwv.googlegroups.com>,
Crowley <crowleyalastair [at] yahoo.co.uk> writes
>he pips are starting to squeak for many .......
>
>Banks make killing on overdrafts
>Sean Poulter, Daily Mail
>31 March 2006
>
> http://www.dailymail.co.uk/pages/dmstandard/frame.html?in_bo ttom=http://
> www.thisismoney.co.uk/saving-and-banking/article.html?in_art icle_id=4079
>71&in_page_id=7&ct=5
>
>FOURTEEN million Britons are weighed down by overdrafts - and the big
>banks are cashing in to the tune of £4.1bn a year.
>
>The figure is up 40% in little over two years after banks imposed big
>increases in penalty charges, a report published today reveals.
>
>It highlights that for many Britons overdrafts have become a necessity,
>not a short-term borrowing facility.
>
>Customers can be hit by a fee of £30 for a single 'offence' of going
>over their limit. This then triggers a host of other fees, which can be
>as much as £39 a time, for bouncing cheques and declining direct debits
>or standing orders.
What on earth is new about this story.... I was hit by inordinate fees
and penalties when I went over my limit in 1977... 30 ****** years ago!!
--
Richard Faulkner
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| Re: Banks make killing on 14 million overdrafts [message #376042 ] |
Fr, 31 März 2006 19:35 |
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Richard Faulkner wrote:
> What on earth is new about this story.... I was hit by inordinate fees
> and penalties when I went over my limit in 1977... 30 ****** years ago!!
Quite!
An overdraft is a financial service. Banks make money out of providing
financial services just as any other business makes money out of
providing services. Hardly earrth shattering stuff.
My garage makes money out of providing motor vehicle repairs and
servicing. This Monday they charged me an arm and a leg for around 3
hours work. They refused to budge on the bill and so I shall not be
troubling them again. Banks are not immune in similar respect.
It's cheaper not to get into debt but sometimes you have to. If you do
debt is cheaper if it is pre-planned. The easiest method is not always
or even most probably the cheapest.
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