Confused about Barclays overdraft fees.

I have had an agreed overdraft on my Barclays First Additions current account (soon to be changed to a different name) of £300 for around 8 years now. I didn't use it for a long time, but recently had to use it.

Now I'd always thought that I wouldn't be changed on this. I pay a monthly fee for this account (this was introduced a few years after i opened my account. When i opened my account it was free). I assumed a benefit of paying this monthly fee was too have an interest free over draft. (I am pretty clueless about my finances... I know. I need to get it together).

I have been incurring a fee on my account that has sent me over my overdraft limit. There is no way I can pay off the full £300 as I recently had to start claiming JSA and I have other debts to pay off.

What should be my next step?

Comments

  • Ring Barclays and explain the situation, and see if they will freeze the charges so you don't get further into debt.

    Also speak to them about the monthly charge on your account - is that something you actually need? You might be eligible for a refund if you were missold it.
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    [STRIKE]TSB credit card £4,500 [/STRIKE] / [STRIKE]Payday loans £2000[/STRIKE] / / [STRIKE]Overdraft £3000[/STRIKE] / [STRIKE][/STRIKE] / [STRIKE]Barclaycard £1800[/STRIKE]
  • I only carried on paying it because I thought the fee covered me for this £300 overdraft. I'm almost certain I haven't used it at all so I'll deffo ask about getting refunded. It would certainly make paying off my over draft a lot easier. :)
  • sourcrates
    sourcrates Posts: 28,717
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    Barclays additions accounts are no longer available.

    Seems lots of folk been trying to get there fees back :

    http://forums.moneysavingexpert.com/showthread.php?t=4859768
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  • Hi I also have this account, I think it is for existing customers. I had a shock too when opening my bank statement this month. As I read it the first £250 is interest free, if you go above this they charge you 75p per day. As you have used £300, you are being charged this. Get it back down to £250 and you should be ok. They have also taken away my £500 reserve. HTH
  • Hi again, just phoned Barclays and it is interest free on this account up to £300.
  • Oh that's odd Merrydance. I have been slightly under £300 overdrawn, but due to the 75p a day charge, I was pushed over to around £320. I am going to assme this is a mistake on their part and contact them tomorrow.

    Thanks for the link sourcrates :)
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