Wednesday, February 19, 2014

Don't Let the Bank Rob You: Success of a Different Sort

Here's a really great story I found regarding a biz owner on the "island" of England (U.K).
You know how banks charge you for everything these days? And, if you happen to be off when balancing your checkbook and you have a few checks that bounce, you get hit with $25 - $35 per check charges (even higher in England)?
Well, you don't get any grace or mercy from the bank when that happens. And it seems that both here in America as well as in England, the banks are going crazy with these charges, with little consideration for right or wrong, or even correcting their errors.

According to the Daily Mail article titled, "Customer sends bailiffs in to seize bank's computers" found at www.dailymail.co.uk, a man named Declan Purcell had a bunch of charges deducted from his account to the tune of 3,400 pounds that he thought were wrong, so he:

"decided to give one of the high street giants a taste of its own medicine. When Royal Bank of Scotland refused to refund £3,400 charges that Declan Purcell believed he was owed, he sent in the bailiffs.
Stunned customers at his branch of RBS watched as debt collectors seized four computers, two fax machines and a till filled with cash.
The branch manager was told that the items would be sold unless RBS came up with the money owed to Mr. Purcell.
Only when the manager gave an undertaking that the debt would be paid did the bailiffs leave.
Mr. Purcell said: ‘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.’”
Great story! Apparently, what happened was that Mr. Purcell went to court, got a judgment against the bank and then had the judgment enforced, according to the law. The Royal Bank of Scotland decided to not defend their interests and neglected to respond to any correspondence regarding settling the judgment. So, the law stepped in and the bailiffs went to collect the money owed.
Kudos to Mr. Purcell for stepping up and taking action in the face of extremely daunting odds—and prevailing! According to the article, Britain’s Office of Fair Trading is investigating the exorbitant charges that are leveled on customers for overdrafts and other practices.

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