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Halifax Overdraft New Charges
Comments
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[What did come from the conversation was the realisation that if you go 1p overdrawn, for 1 day, you will be charged £1. This is an interest rate of 1000% the guy in the branch told me. Maybe Halifax should set up in Zimbabwe!]
This is incorrect - maybe you should ask again because when I called they told me I wouldn't pay anything until I was £10.01 overdrawn!0 -
[What did come from the conversation was the realisation that if you go 1p overdrawn, for 1 day, you will be charged £1. This is an interest rate of 1000% the guy in the branch told me. Maybe Halifax should set up in Zimbabwe!]
This is incorrect - maybe you should ask again because when I called they told me I wouldn't pay anything until I was £10.01 overdrawn!
That is correct. The first £10 is free.0 -
[That is correct. The first £10 is free]
intersting...wasn't this a bit of a gripe on Watchdog the other night which is why I called - looks like Martin or Watchdog didn't do their homework properly?0 -
[That is correct. The first £10 is free]
intersting...wasn't this a bit of a gripe on Watchdog the other night which is why I called - looks like Martin or Watchdog didn't do their homework properly?
I haven't seen that Watchdog programme, but if that was what they said, then they have misunderstood how the account works. However, it wouldn't surprise me if Watchdog/Martin had been wrong on this bit, as the article on this site (written by Martin) is completely incorrect when it comes to the buffer zone.
The article (http://www.moneysavingexpert.com/news/banking/2009/10/how-to-beat-halifaxs-overdraft-chagres) says:No more buffer zone for most customers. In the past, many customers had a buffer zone meaning if you went overdrawn by up to an agreed amount you didn't pay anything. Most will lose this.
When in reality,
* those customers who previously had an interest free overdraft will continue to have an interest free overdraft of the same size (this is people with an Ultimate Reward Account, it's £300 free overdraft)
* those customers who previously had no interest free overdraft will now have a £10 free buffer zone.
It shows that it's important not to rely on the information given to you by third parties (i.e. MSE & Watchdog). Check with Halifax for yourself before believing what you read.0 -
[Check with Halifax for yourself before believing what you read.]
I did
but I suspect there were other inaccuracies too 0 -
[What did come from the conversation was the realisation that if you go 1p overdrawn, for 1 day, you will be charged £1. This is an interest rate of 1000% the guy in the branch told me. Maybe Halifax should set up in Zimbabwe!]
This is incorrect - maybe you should ask again because when I called they told me I wouldn't pay anything until I was £10.01 overdrawn!
Interesting! It would seem Halifax staff aren't (or certainly, weren't) aware of this when the letters initially came out- as he was in agreement with me over the point and actually agreed that it was pretty disgusting!0 -
rb10, do you have a link / reference to this information to confirm it, or is this merely a concession that isn't mentioned in the T&Cs?those customers who previously had no interest free overdraft will now have a £10 free buffer zone.
While I have no reason to disbelieve a reliable poster such as yourself it would be good to see an official confirmation from HBOS.0 -
rb10 - do you work for HBOS or just an avid fan?
2010 - year of the troll
Niddy - Over & Out :wave:
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just swapped to alliance and Leicester. got £100 for opening new account plus £25 to me and partner because she referred me.. not bad!
never had a bank charge only had a £250 OD and never used it every month.
I think the charges are disgusting.
Bail them out , show loyalty and manage your finances, guess what the Halifax do?
Shaft you... that little bit EXTRA!!!0 -
just swapped to alliance and Leicester. got £100 for opening new account plus £25 to me and partner because she referred me.. not bad!
never had a bank charge only had a £250 OD and never used it every month.
I think the charges are disgusting.
Bail them out , show loyalty and manage your finances, guess what the Halifax do?
Shaft you... that little bit EXTRA!!!
quidco.com give you £50 too for signing up0
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