Basically, a man named Declan Purcell in the UK was tired of the huge fees the bank was charging him and went to court to get them refunded. He won in court and when the bank still wouldn't pay up, he hired a collection agency to collect for him. As he says: "I think the bank was pretty shocked when the bailiffs went in. But my view is that this is exactly what they would have done to me."
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Hate Bank Fees? You'll Enjoy This Article
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Re: Hate Bank Fees? You'll Enjoy This Article
Originally posted by jeffrey"I think the bank was pretty shocked when the bailiffs went in. But my view is that this is exactly what they would have done to me."
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At a recent seminar I asked the participants... "When do you review your bank accounts, credit card fees and bank fees you pay?"
Not a single person had a regular review in place. Banks know this and over time allow their fees to creep up.
I went on to say that because I'm so busy I'd had to set my birthday for my annual review of accounts. The idea was well received.
In the town in which I live it is interesting the way some of the business people seem to have changed banks before me each time. The last three changes (over 15 years or so) have all been because a particular bank offered significantly cheaper fees.
How often do you change banks?
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I haven't paid fees for banking in years (and I absolutely refuse to). I'm in Canada. I have free chequing and savings accounts through President's Choice Financial. I have no fees for anything with them. I have had loans through them too. I will never pay for banking.
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