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Peter Hague is off-line
05 September 2013 07:41
PeterH
Photographer
PeterH
Location
United Kingdom
South Yorkshire


Quote from mph
Quote from stolenfaces So how is the bank to blame ?

Whilst I don't think they should give back the £2000 - I do think they are to blame in not making it clear that when a cheque "clears" - it hasn't! If you ask the average Joe in the street he would say that once a cheque had cleared the money was safe - and I think they need to make their customers aware that that this is simply not the case. Amazingly you can have cheques cleared quickly by paying a fee - and they can still take the money back!



My bank made it clear to me about the difference between 'credited' and 'cleared'  when I started paying US$ into my account. I was informed, in fact I think I am everytime I make a deposit, that although the amount has been credited to my account, it can be recalled by the sender for upto six months after. If that happens, i'm liable to pay the bank back.

If people don't read the T&C's they agree to, it's hardly the banks fault.
"I am the one who knocks" - Walter White


Paul Hodson is off-line
05 September 2013 07:51
mph
Photographer
mph
Location
United Kingdom
Cheshire
Crewe

Quote from PeterH
stolenfaces So how is the bank to blame ? Whilst I don't think they should give back the £2000 - I do think they are to blame in not making it clear that when a cheque "clears" - it hasn't! If you ask the average Joe in the street he would say that once a cheque had cleared the money was safe - and I think they need to make their customers aware that that this is simply not the case. Amazingly you can have cheques cleared quickly by paying a fee - and they can still take the money back!

My bank made it clear to me about the difference between 'credited' and 'cleared' when I started paying US$ into my account. I was informed, in fact I think I am everytime I make a deposit, that although the amount has been credited to my account, it can be recalled by the sender for upto six months after. If that happens, i'm liable to pay the bank back.

If people don't read the T&C's they agree to, it's hardly the banks fault.



Well I have not paid US$ into my account - but I have never been informed of this except maybe in the many pages of literally small print that I guarantee 99% of customers have never read. We all know that it is not reasonable to expect people to pick out important points like this from the reams of legalese we are sent with so many products these days. Worse, the fact they talk about "clearing" actively misleads.

I knew about the rules - but then I worked in financial services.
Amateur - happy to do TF with models with potential and enthusiasm. Website: www.mphodson.co.uk


05 September 2013 17:20
Nick_Edinburgh
Photographer


Quote from PeterHIf people don't read the T&C's they agree to, it's hardly the banks fault.



Yeah, right. And you read every T&C contract you agree to, do you? Paypal's are longer than Hamlet. iTunes longer than Macbeth. etc. etc. Of course you don't. No one does, other than a few crazy obsessives, who won't understand half of it anyway without legal training. So get off your high horse, and drop the mean-minded slagging off innocent people for being sane and normal.

The banks absolutely trade on public ignorance in this regard, and make zero effort to educate the truth.


raw and the cooked is off-line
24 October 2013 11:26
Rawandthecooked
Photographer

Location
United Kingdom
London


Oh. for heavens sake, why?


Mr D is off-line
25 October 2013 05:05
Darkstudent
Photographer
Darkstudent
Location
United Kingdom
Lancashire
Manchester

Quote from Nick_Edinburgh
Yeah, right. And you read every T&C contract you agree to, do you? Paypal's are longer than Hamlet. iTunes longer than Macbeth. etc. etc. Of course you don't. No one does, other than a few crazy obsessives, who won't understand half of it anyway without legal training. So get off your high horse, and drop the mean-minded slagging off innocent people for being sane and normal.

The banks absolutely trade on public ignorance in this regard, and make zero effort to educate the truth.




oh no, big bad banks are evil and lie to us all.  I assume you dont have a bank account then and use a wooden box under your bed ? \

Information about anything is so easily accessable these days.  All you got to do is ask, hey, when will this cheque be cleared and is there an option for the payeer to withdraw the money back at any point.

Or you can just not accept the method of cheque which many places do not anymore.




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