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smiffy1967

Banks Stealing Money!

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I was just charged 150.00 for 4 direct debits bouncing due to a **** up in payroll, although money has come through now.

I called HSBC and acused them of stealing my hard earnt wages which i need to take care of my kids.

I advised them that there have been large amounts deposited in my accounts over the past two years, in my current account and my business account. a large sell to rent fund which i have invested and about 150K in earnings from me and partner.

They would not budge. I then advised that they operate a fractional reserve banking model and said i wanted to know whom they where lending my deposits to! Why was the bank lending my money, (of course i know they do) but to charge me 150.00 for being overdrawn for 4 days is nothing but legal robbery!

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I was just charged 150.00 for 4 direct debits bouncing due to a **** up in payroll, although money has come through now.

I called HSBC and acused them of stealing my hard earnt wages which i need to take care of my kids.

I advised them that there have been large amounts deposited in my accounts over the past two years, in my current account and my business account. a large sell to rent fund which i have invested and about 150K in earnings from me and partner.

They would not budge. I then advised that they operate a fractional reserve banking model and said i wanted to know whom they where lending my deposits to! Why was the bank lending my money, (of course i know they do) but to charge me 150.00 for being overdrawn for 4 days is nothing but legal robbery!

Forgot to say, they refunded the charge in full!

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What did they say when you mentioned Fractional Reserve Banking?

Were they stumped?

they did not admit it nor deny it (obviously) they told me to read the terms and conditions of the account, i then told them i cannot get paid any other ways but BACS otherwise i would not bother operating an account with them.

I told them, i want a list of whom they where lending my money to!

He had a word with a manager and they gave me the money back.

These people are stealing our money, there are people so in a hole because of this, going round in debt circles, paying more and more of there income to banks, this is immoral.

Banks are worse than the government.

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I had an encounter with RBS last year when they charged me £7 to receive a payment from overseas into my account. When I called the branch to protest, they refused to refund it, explaining that it was in their tariff. When I thought about what had happened, i.e. they wanted me to pay for money that was being paid into my account, it occurred to me that this was too much like alice in wonderland for it to be true. I then thought I would repay them in kind by settling my personal loan in full, moving all my savings, closing two insurance policies, two current accounts and a credit card account. A month later I received a grovelling letter and a case containing two bottles of undrinkable French wine. I've never used them since but I think if you are determined with these people, they will eventually admit they are wrong and refund unfair charges.

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they did not admit it nor deny it (obviously) they told me to read the terms and conditions of the account, i then told them i cannot get paid any other ways but BACS otherwise i would not bother operating an account with them.

I told them, i want a list of whom they where lending my money to!

He had a word with a manager and they gave me the money back.

These people are stealing our money, there are people so in a hole because of this, going round in debt circles, paying more and more of there income to banks, this is immoral.

Banks are worse than the government.

You are lending your money to the bank. They then lend money that they have borrowed from one person to another. They have no legal requirement to tell you who they lent it to. For them to do so would be illegal, I imagine. As they advised, please reason the terms and conditions.

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I did hear that a customer decided to get their own back on a bank and charge and administration fee for dealing with a query - which the bank, rather surprisingly, paid.

In law, you have as much of a right to charge the bank a fee for your administration effort as they have to charge you. It's worth a try - possibly backed up by a threat to close your account and move to another bank.

Edited by blankster

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I know we've had threads on this before, but I only now use a building society account, pay for everything that is possible in cash, and pay all bills with cash at the post office (I have only 2 direct debits with relucatance), where they don't charge for making payments (my old bank wanted £5 to pay each giro credit).

Banks are eating themselves. As they currently operate they deserve to die, and probably will.

Edited by Red Kharma

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i wish you prols would stop banging on about so called fractional reserve banking.

banks borrow short and lend long, that is the whole f'ing point of banking! if you don't want the bank to lend your cash, then use a safe deposit box operator and pay the insurance and storage fees. jeez.

ENOUGH ALREADY, ITS EMBARASSING TO BE ON THE SAME FORUM

Edited by Far Out Bear

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Of course the best way of ensuring you cost the bank money is by reporting all your bank cards as lost. It costs them £40 per card to issue replacements.

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I always do the same thing with banks that pee me off. I open an account with a grand, get some regular standing into it then get a credit card with them. I overpay the credit card by 50p and cut it up. I leave a pound in the account after withdrawing the rest. Then I just let the whole lot rot. Best 1.50 i ever spend and it costs them loads in admin charges, statements and sales calls to me every year.

;) Love it

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