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Unplanned Overdraft Charge Please Help!!!
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judy_1
Posts: 77 Forumite
this Month for the first time in 10 years with my bank, an error occured and i managed to exceed my overdraft by £150.00 due to a direct debit leaving the account.i only found this out yesterday when lloyds wrote to me.
in the letter they are saying they are going to charge me £15.00 for going over my overdraft. plus £20.00 per day for as long as it continues, and interst on the the £150.00 up until yesterday i had already been charged £155.00, i have a bacs payment which will go in to the account on the 24th of october. the bank plan to take the charges from my account on the 1st of december. i rang the bank to appeal to there better nature but this fell on deaf ears. what can i do. i feel that these charges are a little excessive please help
CAN ANY ONE ADVISE ON THIS 6 votes
SHOULD I CLOSE THE ACCOUNT
66%
4 votes
SHOULD I STAY WITH THE BANK
16%
1 vote
CAN I PREVENT THEM CHARGING ME
16%
1 vote
0
Comments
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What was the direct debit for?
You had a direct debit for over £150 that you did not know about?
If the direct debit was taken and it should not of been tell the bank to get it back, problem solved.0 -
I did know about the direct debit, however the bacs payment coming in from my employers got delayed by 7 days due to a director being out of the country, however i did not know about the delay on the bacs payment which should have been in by the 15th october but got delayed until the 24th october0
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I did know about the direct debit, however the bacs payment coming in from my employers got delayed by 7 days due to a director being out of the country, however i did not know about the delay on the bacs payment which should have been in by the 15th october but got delayed until the 24th october
Surely then your argument is with the company, and not the bank?0 -
not really these were expenses and under my contract of employment it is agreed that they are paid with in the month, so after submission to the company they then need to pay them before the end of the month, however in the last 4 years they have been paid within 15 days of submission.
however surely you are losing the point, the question is are these charges fair i do not think that they are, i feel that they are excessive, after reading other posts on this website. i feel that as this is the first time this has ever happened to me the bank should have been a little more
Lenient0 -
I think banks are going to be less and less lenient in these times. The best you can hope for I think is that you'll be able to claim the charges back at some point in the future, but don't hold your breath, it could take a while.DMP Mutual Support Thread Member No 19017/05/08 - Total on DMP: £10025.7007/05/14 - Total on DMP: £1666.20 DFD: July 2017!!Baby Tomos born 5th June 2009 - 6lb 5oz :jWeight Loss Target - to lose 60.8lb by NYE 2015 - 37.6lb TO GO0
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i am really annoyed about this a feel that i would want to change my bank because of this, and make them wait for the charges as if my account is closed they can not charge me can they?
when i went on to the uswitch web site nation wide were coming up with the best current accounts0 -
I think they probably could charge you even if your account is closed, or they could prevent you from closing the account if you have charges due. Not positive but I would think thats the case.
I don't blame you for being annoyed but thats how the banks are. They are a theiving bunch.DMP Mutual Support Thread Member No 19017/05/08 - Total on DMP: £10025.7007/05/14 - Total on DMP: £1666.20 DFD: July 2017!!Baby Tomos born 5th June 2009 - 6lb 5oz :jWeight Loss Target - to lose 60.8lb by NYE 2015 - 37.6lb TO GO0 -
They aren't "a thieving bunch". They have to make money somehow, and because 80% of bank customers never pay anything for banking, the other 20% pay "over the odds".0
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I once went over my limit by £5 whilst I was on holidays abroad. I know it was my error and when I came back I paid a tenner in to cover it. However I was then charged a total of £500. Hardly reasonable. And just so your aware I paid for premium accounts in the past but won't bother anymore because of this.DMP Mutual Support Thread Member No 19017/05/08 - Total on DMP: £10025.7007/05/14 - Total on DMP: £1666.20 DFD: July 2017!!Baby Tomos born 5th June 2009 - 6lb 5oz :jWeight Loss Target - to lose 60.8lb by NYE 2015 - 37.6lb TO GO0
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I would change to a more competitive current account anyway - I think Alliance & Leicester is the best one at the moment - look at the main MSE site.
If you have been with Lloyds for 10 years then you have been effectively lending them your money at a very low rate of interest (0.1%?) for them to then lend on to other people at a much higher rate - and so it's not as if you have really had "free banking" all this time anyway.
But if you are happy to lose that interest in exchange for what you consider to be a good service then why inconvenience yourself by changing accounts? I get the impression that all banks are as bad as each other when it comes to charges, and they don't really care about losing the odd customer along the way.
Make the best decision for yourself and your finances, but don't do it in anger.0
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