BBA Statement on bank charges case being dropped

[Amethyst]

BBA statement on OFT current account investigation


22/12/2009

The BBA said:

"Following the judgment of the Supreme Court resulting in the conclusion of the test case, the banks welcome today's announcement by the OFT that it is ending its investigation into the fairness of overdraft charges under the UTCCR. The banks will continue to work with the OFT going forward in relation to the concerns the OFT has raised as part of its Market Study.
"The banks understand customers' concerns, and talk to their customers regularly and develop accounts in line with feedback. The current account market continues to be a dynamic and competitive market and banks continue to take further steps to improve the transparency of charges on statement sheets and make further improvements to the switching process, including case studies to make it easier to compare accounts. The banks have also launched a range of new overdraft pricing models. Consumers can therefore consider the costs of running their account, shop around for a wider range of product prices to get an account that works for them and switch provider more easily if they find an account which is better for them."

[enaid]

Re: BBA Statement on bank chagres case being dropped

Why must they make it sound so easy, they should get get in the real world and see just how being with a bank can be as lethal as a spiders web and just as hard to get away from.

[natweststaffmember]

Re: BBA Statement on bank chagres case being dropped

BBA statement on OFT current account investigation

Please note that this is the translated version....just downloaded the up to date copy of Banker-English Language translator.
22/12/2009

The BBA said:

"Following the judgment of the Supreme Court resulting in the conclusion of the test case, the banks welcome today's announcement by the OFT that it is ending its investigation into the fairness of overdraft charges under the UTCCR.
Thank you Santa Claus for your early Christmas present.
The banks will continue to work with the OFT going forward in relation to the concerns the OFT has raised as part of its Market Study.
We will keep saying it is too expensive to change our systems and that regulation is coming out of the woodwork which means we don't understand all of it.
"The banks understand customers' concerns, and talk to their customers regularly and develop accounts in line with feedback.
Banker: Do you want to pay for an account with extras that we hope you won't use on a monthly basis?
Customer: I'm not interested, thank you.
Banker: We will keep asking you until you say yes so until the next time.....

The current account market continues to be a dynamic and competitive market and banks continue to take further steps to improve the transparency of charges on statement sheets and make further improvements to the switching process, including case studies to make it easier to compare accounts.
We continue to send out leaflets in statements in the hope that they will be binned and that no one will read them as usual. We continue to mess up the switching process since it is easier to blame the other bank rather than sharing the blame and potentially having to refund some charges.

The banks have also launched a range of new overdraft pricing models.
Stop saying we aren't helping customers cos look what we can do even though the basic model is called "free if in credit banking".

Consumers can therefore consider the costs of running their account, shop around for a wider range of product prices to get an account that works for them and switch provider more easily if they find an account which is better for them."
Tough luck on the charges, you plebs, you still have to pay for banks to decide if they will pay your bills or if they will reject them so bad luck.

Hope the translation was accurate

[Curlyben]

Re: BBA Statement on bank chagres case being dropped

Simply put,

We're now going to screw you bareback !!!