Posted: 24.05.07 in Blogging

This is not the football kind – this is the financial kind. Penalties are what keep current accounts free. It punishes those that do not keep to the rules that would ultimately cost those that keep their accounts in credit.

If you don’t want to pay charges, don’t go overdrawn.

  1. Weiran says:

    The situation is so much more complicated than the simplified statement you have it’s beyond a joke.

    It’s not what keep current accounts free, banks are making a lot of money from the money you put in their accounts. Businesses pay a lot of money for their current accounts and still have charges.

    Not to mention that the charges are unlawful, you cannot be legally fined in a civil case. Only the law can fine you.

    Also, you’re saying the poorest people who go into the red because they simply don’t have enough money should subsidise your current account with their heafty charges? If I didn’t know you better I would brand you a right-wing conservative.

  2. Steve says:

    You bastard! You take that back!

    Seriously though, I do think the majority of people can do more to ensure that they don’t incur these charges.

    They might be unfairly high but they are clearly stated. Like road tax…

  3. Weiran says:

    It’s like you signing a contract with me saying I own you for the rest of my life and you’re going to be my butler for no pay. While it may be a term in the contract, it’s not a lawful term and therefore is not legally binding.

  4. Steve says:

    But then why would I sign?

    If you don’t like the terms, then don’t sign…

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