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How ethical?

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  • How ethical?

    Unlike most of my other accounts the COOP apply their charges on the same day. So the snowball effect has greater ramifications.

    2 Charges gobbled up my in credit balance, which then allowed 5 other small DD bounce.

    In one month my account went from £364 Credit to £226 OD.

    This isnt even my running account. It is one solely used for DD's following a SO on 1st of each month.

    Well Im hoping their so called ethics will come into play and they will cough up with out the need to dragit all the way to court stages!

  • #2
    So you have no warning that the charges are going to hit?? Thats appalling.

    Good luck with getting them back.

    Although.....somehow I don't think you will need luck! Has anyone warned the poor Co-op that they are about to be hit with the greatest force known to man!!!

    Welcome hunny xxxx
    "Although scalar fields are Lorentz scalars, they may transform nontrivially under other symmetries, such as flavour or isospin. For example, the pion is invariant under the restricted Lorentz group, but is an isospin triplet (meaning it transforms like a three component vector under the SU(2) isospin symmetry). Furthermore, it picks up a negative phase under parity inversion, so it transforms nontrivially under the full Lorentz group; such particles are called pseudoscalar rather than scalar. Most mesons are pseudoscalar particles." (finally explained to a captivated Celestine by Professor Brian Cox on Wednesday 27th June 2012 )

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    • #3

      But with regards to warning - yes they did "kindly" send me a letter shame it came 3 days after the charges were applied.

      I think in some cases, they way these operate their charges system is worse compared to the other banks, and can cause more damage.

      Could be a warning to others.


      • #4
        I believe the "ethics" you are refering to relate only to where their (our?) money is invested, and not the way that they treat their customers.

        Shame that..



        • #5
          Of course.

          But if one is prepared to so commercially highlight their ethics - then they need to be aware that it would be beleived to be across the board!

          Having selective ethics undermines those that they hold in high regard!

          Maybe I'll point that out to them in my next letter???


          • #6
            Yes indeed! It seems to me that they make it one of the USP's, but only stick to it when it suits them.

            My apologies, my original post was not meant sarcastically or derogatory, it just doesn't read right. I was trying to agree with you



            • #7
              Ha ha Matt.

              No offence taken - im made of tougher things!!!

              Nice to meet you!


              • #8

                If its any help, they paid me out with no trouble on both Co-op and Smile accounts, but you're right about their charging - and the £5 daily they charged me for being over my limit, nearly £6k on 2 accounts that I hadn't used for nearly 3 years - not bad eh??


                • #9

                  On my CC account with the co-op, i claimed charges worth 120 plus interest paid, and contractual interest, all tolled around £531.00.

                  They sent me 75 for the charges less than 6 years old and said that the investigation into cc charges didn't say anything about interest being returned.

                  So i wrote back explaining the error of their ways so they sent me a cheque for the two charges over 6 years old to the value of 421.00!!

                  So i amended my schedule and have written back, I'm now after my costs for bringing the claim since this is pre allocation, they have paid me in excess of 600 quid so far and I'm still telling them they owe me another 150.00 for my time and trouble.

                  Just thought id offer my experience



                  • #10
                    Well they phoned the other night and paid out all the charges they had applied which took the account over its limit - so effectively zerod the account, but that still leaves another £200 so I will just send them and ammended LBA i think!!!

                    Still at least they bothered to make soem effect eh?


                    • #11
                      Well at least your getting somewhere, keep at it, soon be all settled.


                      • #12
                        I dont get this.

                        My claim with Co-Op is for £270.

                        £100 just charges sprinkled over the life of the account - £170 chargeshey applied in one hit due to the snowballing effect of bouncing various DD's then applying charges the same day which caused more DD to bounce - you get the idea.

                        Anyway after the first letter went in they phoned us at home - and said that they would refund £170, as they dont usually apply charges in that fashion (dunno what they were trying to mean here) they refunded on the spot £170. I said I would still requesting the additional £100 from them, and the customer service guy said that was ok.

                        Anyway LBA went to them, 14 days up on Fri and we not heard anything from them.

                        Why on earth they playing hard ball over £100 - at end of day its only going to cost me £30 to file this with the court!!


                        • #13
                          Its entirely up to you but I was late filing my co-op forms and they paid out about a week after it was due to go in, of course if you file, you get the 8% too - your shout tho.


                          • #14
                            to be honest they only couple months old so not much in the way of interest - still it the principal!!!

                            They may charge the cheapest but the fact they come out the same day causes more probs than some of the more expensive ones, which debit once a month!


                            • #15
                              Hi Scarlet, I've just had a charge from Smile, I'm not sure what your charges have been called, but the one on my statement is called "COMMISSION. UNPAID ITEM"

                              That amused me slightly, them taking "commission" on an unpaid item.

                              They're now on my list, all for the sake of a total of £45 over two accounts.

                              What are your charges called? I'd be interested to know.


                              P.S. Sorry for the blatant Hi-Jack of your thread, but I didn't want to make a new one for that little question (or 2)


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