All UK members please read this! Very important to your financial livelyhood!

[Jaymoi]

As some of you will know, when i get excited about something or i find something beneficial to the group i like to share it with you guys.

So here is the LATEST installment!

This time i want to talk about finances... mainly the rip-off bank fines we recieve in the UK.

BEFORE YOU ROLL YOUR EYES AND MUTTER THE WORD "SCAM"... THIS IS NOT A SCAM. FOR ALL WHO DON'T KNOW ME, ASK THE BOARD ABOUT ME, I'M A GOOD UN'!

So here we go....

Did you know it is actually illegal for a Bank to fine you for anything over the amount of

[Pugwash]

To validate Jaymoi's post, here's the BBC page on it:

http://news.bbc.co.uk/1/hi/business/6170209.stm

The BBC links all the necessary forms in PDF format.

[KB]

Very interesting I wonder if there is a set limit in Australia too as we can pay up to $40 for an overdrawn account.

Ken

[Jaymoi]

Kenberg, do you want me to find a company for you in Aus that does the same, if one exists?

[KB]

For sure it wouldn't hurt

Thanks

Ken

[cornerstone]

The law is different is Oz, it doesn't apply.

There is increasing pressure to test it out, but the banks are belligerent. The good news is that Vic is one of the few states with half-decent unfair contract terms legislation.

[narikaa]

Jeeez you mean some people spend money they havent got!

Incredible

[watcher]

Just doing the very same thing myself and expect a reply next week from the bank. They owe me enough to buy a genuine Yachtmaster!!!

[Stephane]

I wish I was in UK