Quote:
Originally Posted by Chrysalis
Ok I think there has been a misunderstanding then, I was calling it a pentalty fee when I meant admin fee. So its legal to charge for the admin costs involved but not legal to add anything on top for profit and penalise the customer.
OFT made banks reduce their credit card 'penalty' fees to £12 and i was curious if they would set the bank fees to the same level since if it was set to the same level it would be hard to see how credit card late payments can cost as much as bouncing cheques.
I would love for them to go one step further and stop the banks taking time to clear cheques and make them instant or at least same day clearance since its done electronically now.
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it seems only the barrister used the right terms in the program, its unlawful (not illegal [theft) unless you can find the board member or accounts person that actioned the higher cost charge perhaps).
some things to remember, the bbc special panel said that they could NOT get the cost of direct debit ANY HIGHER than £2.50 MAXIMUM.
that, direct debit is tantermount to a CASH PAYMENT in uk law, so if your being charged more for cash payments then its perhaps unlawful too.
regarding the BBC program , i was rather disapointed in that he could have put the banking code of practice to the woman and asked the question , given that the govt have instructed that all govt/state benefits be payed into your members products, how is it that your members (I.e the banks) are taking bank charges out of these accounts when the UK 'BlueBook' laws expressly forbid you to take these moneys in charges....
how could she possibly brush that aside on public TV and not have some MPs instantly try and get some soundbites and find a way to push the whole charges thing to front and center....
(can we upload a binary file .ts to the board if so how? as i have a 1.35 second clip of that bbc panel)