"Every time a current account customer goes overdrawn by as little as ?1 most banks will charge around ?28, even though the administration cost is only about ?4.50." I work for the second largest bank in the US. The reason for the fees is punishment for going overdrawn, not just to cover administration costs. Now if somebody goes overdrawn and they call in asking how to straighten it out and ask for the fee to be waived, we'll do it for them. If he had charges of 3400 and the fee is 28, that means he went overdrawn 121 times! (the article is a little unclear as to if the charge is 28 or 38, if it's 38, he "only" went overdrawn 89 times)His caption reads "Declan Purcell: Striking a blow for the customer" It should read "Declan Purcell: Striking a blow for the deadbeat"
@acceptab1euname: nope, I'm completely crazy and clueless. Or maybe I was just taking a thought to it's logical but highly unlikely conclusion. I know a corporation wouldn't actually serve jail time, but why not have an equivalent. If an individual commits a crime, the individual is locked up for some length of time to protect the public. If a corporation commits a crime, why not stop it from doing business for some length of time in order to protect the public. It is extremely unlikely that this would ever happen, but it would be much more of a deterrent than any fine. Corporations can factor fines into the cost of doing business. The cost of not being able to do business, however, is not something that could just be "factored in". It was just an idea to challenge your thinking. Obviously it was successful.
sanguinemoonFeb 9, 2007
"Every time a current account customer goes overdrawn by as little as ?1 most banks will charge around ?28, even though the administration cost is only about ?4.50." I work for the second largest bank in the US. The reason for the fees is punishment for going overdrawn, not just to cover administration costs. Now if somebody goes overdrawn and they call in asking how to straighten it out and ask for the fee to be waived, we'll do it for them. If he had charges of 3400 and the fee is 28, that means he went overdrawn 121 times! (the article is a little unclear as to if the charge is 28 or 38, if it's 38, he "only" went overdrawn 89 times)His caption reads "Declan Purcell: Striking a blow for the customer" It should read "Declan Purcell: Striking a blow for the deadbeat"
Closed AccountFeb 10, 2007
This makes Ayn Rand cry. :(
zephyrspecialFeb 10, 2007
@acceptab1euname: nope, I'm completely crazy and clueless. Or maybe I was just taking a thought to it's logical but highly unlikely conclusion. I know a corporation wouldn't actually serve jail time, but why not have an equivalent. If an individual commits a crime, the individual is locked up for some length of time to protect the public. If a corporation commits a crime, why not stop it from doing business for some length of time in order to protect the public. It is extremely unlikely that this would ever happen, but it would be much more of a deterrent than any fine. Corporations can factor fines into the cost of doing business. The cost of not being able to do business, however, is not something that could just be "factored in". It was just an idea to challenge your thinking. Obviously it was successful.
cayennenatorMay 17, 2007
Ummm... sweet!
shannonxjDec 26, 2007
hello cingular? <a class="user" href="http://www.bestcellularphoneserviceplans.com">http://www.bestcellularphoneserviceplans.com</a>
midwestwxFeb 9, 2008
Verizon = pwned<a class="user" href="http://www.clubble.info/">http://www.clubble.info/</a>