DrMoriarty
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One in the eye for RBS
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Sorry, I meant do we have a precedent here where Irish people can claim back bank charges, like they can in the UK.
As far as I know, the banks can claim a profit on bank charges in the UK but it's a grey area of the law - so people can get these charges back from the banks if they challenge them.
As far as I know, the banks can claim a profit on bank charges in the UK but it's a grey area of the law - so people can get these charges back from the banks if they challenge them.
If you have a problem with suspected unauthorised charges/overcharging (as opposed to clearly displayed charges that you just think are too high) then complain to the financial institution in the first instance and if you don't get any satisfaction contact the [broken link removed].
If bank charges were clearly outlined to you then you have no recourse. What happened in this country in the 80s was that banks started to charge very high charges for customers who went into arrears- and sometimes those charges were taken without the customers prior knowledge and therefore consent. There was a prime time expose a while back about it where the banks were even applying higher than stated interest rates and referral charges. If that happened, you would of course have a case. I've seen a few cases taken against banks- usually where people have enlisted the help of forensic accountants to check back through their bank records and the only ones I've seen have settled out of court - not in the banks favour. So it all depends on the circumstances.
Then why don't we build one and call it The White House
"If bank charges were clearly outlined to you then you have no recourse."
Hi Vanilla;
I agree that this is what should be the case. But in the foreign exchange "overcharging scandal" which AIB had a little while ago, the bank had clearly outlined the charges to the customer on each and every transaction, they had just overlooked notifying these charges to the regulatory authorities and getting consent to the charges (a formality in the context of these charges). I thought at the time that the bank should have come out fighting but - no doubt on the advice of highly paid PR people, and spooked by the thought of having Charlie Bird doorstep them (who wouldn't be spooked at the prosepect?)- they effectively surrendered to the "overcharging" accusation.
Hi Vanilla;
I agree that this is what should be the case. But in the foreign exchange "overcharging scandal" which AIB had a little while ago, the bank had clearly outlined the charges to the customer on each and every transaction, they had just overlooked notifying these charges to the regulatory authorities and getting consent to the charges (a formality in the context of these charges). I thought at the time that the bank should have come out fighting but - no doubt on the advice of highly paid PR people, and spooked by the thought of having Charlie Bird doorstep them (who wouldn't be spooked at the prosepect?)- they effectively surrendered to the "overcharging" accusation.
The current cases against UK banks (including RBS) are not about overcharging or unauthorised charges. Customers are challenging penalty fees imposed for breaching the operating terms and conditions of their accounts.
Customers claim the penalty fees are excessive and do not reflect the actual costs incurred by the bank in handling the breach of the terms and conditions. Seemingly UK contract law requires pre-agreed penalties to be no more than the actual damage done. Does this standard also apply in Ireland?
I don't think so. I seem to remember a previous thread on the topic, but it was some time ago, or maybe I saw it somewhere else.
MugsGame, you put it better than I did! Does anyone know if this is the case? (For the record, I haven't been charged any penalty fees but if there is a legal precendent here, people should be aware of it IMHO!)
I'm pretty sure it was NIB that were doing the retyping, and were outed by Charlie Bird & George Lee.
I've been trying to find this out as well. As far as I can see, there is a similar line in Irish contract law - I can't find my link to it now - but I don't think it's as specific as the UK clause.
Z
z109
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It seems to be a EU directive, which would mean it applies here also? (Or at least could be appealed to Europe?):
Wikipedia_reference
I almost wish I'd been charged, so I could take a small claims case!
Any idea what happened next?
The usual 'mea culpa' stuff, and "now we've got new management" stuff, along with repayment programme for affected customers.