No he is correct, If you put money into a bank they don't just sit on it keeping it for you. Its loaned straight back out. They keep a certain percentage its called the bank multiplier. http://www.answers.com/topic/multiplier-investment Its how banks work, they need savers and borrowers.
Apparently so. And you cant claim back all your credit card charges because that side has been investigated and the fee was reduced to 12.50 or so.... so you can get "some" of the money back.
The OFT concluded that any credit card charge of over 12 was definitely excessive - however it didn't say that 12 was a reasonable charge, just that charges above this were excessive across the board. I asked my CC company for the refund of ALL charges I'd incurred with them - and they paid up straight away. Which was nice.
I know of 2 credit card companies that will take cases to court in the hope of making a part refund as opposed to a full refund. Aweful mess the banks have gotten in to, and I have no sympathy, but the customers will pick up the pieces, and end up paying more for everything else to compensate I imagine.
exactly.... 12.50 can still be challenged and the cc company/bank still will not go to court to justify it because quite frankly they know that it's still taking the ****. let me just remind you people who are saying "you can only claim some charges back" that....not one single bank/cc/loan company/whatever has attended a court hearing to defend their charges thus far.
that's odd cos so far no credit card companies have gone to court to defend their charges whatsover. or are these companies lucky enough to have noone claim against them?
They just haven't been taken to court yet as they have reached "compromises" with customers. Remember that a case can only go to court when the company has failed to comply with the complaints regs set up by the Ombudsman/FSA (which is 8 weeks). Turn up at the small claims court after 4 weeks and the judge wont even listen to the case...
People on moneysavingexpert.com have been submitted cases after 28 days and every single time the bank has paid in full. If the courts thought that they'd win due to timings etc, then they wouldnt make last minute offers.
yeah exactly, ie; they knew they didn't have a leg to stand on so settled outside to shut the customer up. but that wouldn't happen...it hasn't happened. what's your point?
