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Ridiculous bank charges...
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# 1
NUGIRL
Old 09-06-2011, 8:52 PM
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.........................................

Last edited by NUGIRL; 10-06-2011 at 8:26 PM. Reason: i dont want this post appearing anymore
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# 2
Ronaldo Mconaldo
Old 09-06-2011, 9:01 PM
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Don't go overdrawn then?

Last edited by Ronaldo Mconaldo; 09-06-2011 at 10:02 PM.
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# 3
dunstonh
Old 10-06-2011, 9:20 AM
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Quote:
can they do this!!
yes they can.

Quote:
The amount they have charged me seems astranomical!!
Best solution is not to take money from them that you are not entitled to. Indeed, at the moment, its the only solution.
I am a Financial Adviser. Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
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# 4
Alpine Star
Old 10-06-2011, 11:18 AM
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Quote:
Originally Posted by dunstonh View Post

Best solution is not to take money from them that you are not entitled to.
The bank's T&Cs provide an express entitlement for you to request an unauthorised overdraft by virtue of you presenting a payment instruction when insufficient funds are available and it is entirely up to the bank as to whether it is granted.

Will you ever learn?
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# 5
jamesd
Old 10-06-2011, 1:28 PM
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Yes, they can charge for not paying things, for considering and accepting informal requests for overdrafts and for use of an overdraft.

You don't have to accept charges at these levels. Charges are different at different banks and it might pay you to move some or all of your banking to a different bank. Perhaps you could set up a bill payment current account at a bank with low overdraft cots and also ask for an arranged overdraft facility so that you won't have more informal and often more expensive requests.
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# 6
dunstonh
Old 10-06-2011, 3:58 PM
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Quote:
The bank's T&Cs provide an express entitlement for you to request an unauthorised overdraft by virtue of you presenting a payment instruction when insufficient funds are available and it is entirely up to the bank as to whether it is granted.

Will you ever learn?
No kidding batman. Talk about stating the obvious. However, that isnt what the OP is after.
I am a Financial Adviser. Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
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