Im in the middle of it, I posted a letter last week.

I hate my bank !!

I used this site – http://www.unfair-bank-charges.com/

Good luck with the claims – they are working as I’ve heard a lot of media reports that the banks are (unsurprisingly!) very unhappy with having to remove the charges…

These have been figured in to the banks profit forecasts and are used as a a way to recover costs from “riskier” customer segments (i.e younger high spenders with transient lifestyles who are prepared to incur personal debt as opposed to middle englanders)

There is a chance that the worst charges will disappear – but so will free personal banking – eventually you will see per-transaction charges (that were mostly removed in the 1980s) re-introduced….

I’ve also noticed a lot of banks are becoming more choosy about what customers they take on – I tried recommending an on-line bank I use to some friends but they were rejected because although they were in full time work they tended to do agency work (they didn’t even want overdrafts though!)

I think a lot of banks don’t make much money from “prudent” customers and have become dependent on profit made from servicing personal debt.

not sure if it would work as once it actually threatened to cost the banks money APACS would put out an alert and work out some way of “dealing with the protest” – I expect the banks staff would have the power to refuse the penny cheques when presented at the counter or charge for processing them.

the bank could then just charge the originator for the next chequebook as you’ve used “more cheques than a normal customer would”, or just close your account – they can do this at any time they please as “the business relationship has broken down” – provided its not done because of your race/gender….

bear in mind banks have to deal with people waving guns in their staffs faces and international fraud/crime rings, as well as bearing the brunt of years of anti-capitalist protests. Even the shareholders meetings are often invaded by angry people (and not just your average leftie protester type, often capitalists angry because their investment hit a bear market but greed made them blind to risks)

Angry customers are all seen as part of the business risk by banks and they have plenty of ways to subtly deal with them without actually giving in… the only people who can force the banks’ hands are the consumer campaign groups, government and regulators.

People are better off “protesting” by participating in the publicity and letter/writing campaigns, and by using their power within the market by removing their custom from banks with excessive charges and conditions.

Banks have to answer complaint letters by law and cannot charge for doing so – and negative publicity is powerful when there is competition for the business.

OTOH I think the days of easy overdrafts/credit cards may be drawing to a close soon anyway as the banks are realising they can’t get a lot of the money back when individuals with high levels of personal debt just make themselves bankrupt…

I’m saying nothing…for obvious reasons:wink:

whats this, charges for being over drawn can, some one please explain?

it works as long as you stick at it and don’t take no for an answer, just be prepared they may shut down your account so have a back up.