ECB announement/suggestion on Direct Debit charges.

Cass

Firstly my apolgies if there is a thread on this. I looked, but it's either not there or i'm using the wrong keywords so mods feel free to move or merge if necessary.

Its just a quick one, and i'm hoping for a quick answer.

As you all know if you have not enough funds in your account and a direct debit is returned due to lack of funds there is a charge by the bank of anything from €4 to €10 for a missed direct debit. I thought i read something in a paper recently/a little while ago about the ECB announing they intend to or would like to see banks abolish the charges they levy on customer accounts for such missed direct debits.

Did anyone else see this article?
Could anyone point me in the direction of this article?
Does anyone know about it?
Is it to happen or is it just a suggestion?
Was it all in my head?


Any help appreciated.

Ez.

pjmn

5. I'd say....

nlgbbbblth

The charge will not vary each time.

It should be abolished.

Cass

pjmn wrote: »

5. I'd say....

Thought so.:rolleyes:

nlgbbbblth wrote: »

The charge will not vary each time.

From bank to bank.

It should be abolished.

+1.

nlgbbbblth

nlgbbbblth wrote: »

It should be abolished.

on the basis that it's (mostly) an automatic process. Manual returns only take a few seconds.

Unpaid fees for cheques should stay - that's still a labour intensive process and a charge is justified.

chasm

Ezridax wrote: »

Firstly my apolgies if there is a thread on this. I looked, but it's either not there or i'm using the wrong keywords so mods feel free to move or merge if necessary.

Its just a quick one, and i'm hoping for a quick answer.

As you all know if you have not enough funds in your account and a direct debit is returned due to lack of funds there is a charge by the bank of anything from €4 to €10 for a missed direct debit. I thought i read something in a paper recently/a little while ago about the ECB announing they intend to or would like to see banks abolish the charges they levy on customer accounts for such missed direct debits.

Did anyone else see this article?
Could anyone point me in the direction of this article?
Does anyone know about it?
Is it to happen or is it just a suggestion?
Was it all in my head?


Any help appreciated.

Ez.

Would it have been this article? :

http://www.thejournal.ie/central-bank-tells-banks-to-scrap-certain-out-of-order-account-charges-304500-Dec2011/

Cass

Thats the one. Thank you.

It was the central bank, not the ECB.

As said not a majorly important thing, but i caught a glimpse and wanted to find out what it was about. Had a few cases recently of direct debit problems, and it ties into this.


Thanks again.:cool::)