are hiiden charges a theft?

[saurabh]

hi there
sometimes we see that the bank has deducted money from the account and later it claims many hidden charges.while opening the account,they do not specify any charges, so i feel that its like theft.what do you think?

[liowkc]

I guess theft is too strong a word - though we bank customers certainly feel like being robbed.

The bank is probably gulity of a lesser offence - failure to disclose material information.

[scribbler]

I doubt very much if the charges are actually hidden as such. You'll probably find them detailed in their Terms and Conditions for the usage of the account.

Next time you're there, ask them to supply you with a copy of the one for your account if you no longer have the one they gave you when you opened it. No one reads the small print very much and that's when you find yourself caught out with these charges.

[princee18]

the charges are actually never hidden, they are understood and quite less also.The banks always specify the charges but we never notice that.so, we are not obliged to call it a theft.

[Meya]

5/20/2009

[Wanderer]

In today's credit world, credit card issuers are obliged to fully disclose all aspects of a consumer's account which also includes fees. The fact it is small print, only included with the originally issued credit card and we forgot is a whole different animal. Before we sign up for a credit card we need to understand the "terms and conditions" as we are undertaking a legal contract for the credit card. With the new credit card rules this will be even more true than ever before. Our failure to read or understand the "terms and conditions" in a court of law of arbitration won't hold water. We need to know what we are legally contracting for. As to the amount of fees, penalties and annual fees that is a personal decision. No one makes us sign up for a credit card. It is our duty to find what works for us! WOW did I go on the roll.