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  • FIRST POST
    • lostonthetoad
    • By lostonthetoad 10th Jul 17, 9:36 PM
    • 1Posts
    • 0Thanks
    lostonthetoad
    Which basic current account has least fees for denied direct debits and if overdrawn
    • #1
    • 10th Jul 17, 9:36 PM
    Which basic current account has least fees for denied direct debits and if overdrawn 10th Jul 17 at 9:36 PM
    Over the past 2 years I have easily paid 1k in fees for direct debits bouncing and being over the -£12 maximum on my basic Santander current account.
    I'm sick of these fees, £48 this month and I have just lost my job so now I'm done.

    I don't care about cashback, interest, using a paid account.

    I just want a bank account with reasonable fees if a direct debit bounces.
    Also one that does not charge too much for ever day you are minus..

    Currently I am paying £6 a day when over and a flat £10 for each direct debit that bounces even if there was 5 in one day.
Page 1
    • societys child
    • By societys child 10th Jul 17, 10:00 PM
    • 4,805 Posts
    • 5,225 Thanks
    societys child
    • #2
    • 10th Jul 17, 10:00 PM
    • #2
    • 10th Jul 17, 10:00 PM
    Think they're all pretty much the same.

    Trying to find who will charge you less for bounced D/Ds might not be the best approach to the problem?

    • Chalkius
    • By Chalkius 10th Jul 17, 10:15 PM
    • 97 Posts
    • 40 Thanks
    Chalkius
    • #3
    • 10th Jul 17, 10:15 PM
    • #3
    • 10th Jul 17, 10:15 PM
    I don't know what others offer, but Barclays Basic Current Account, there's no charge for a Direct Debit bouncing. And they won't charge you for being overdrawn(mostly as you won't be allowed to go overdrawn).
    • Kim_13
    • By Kim_13 10th Jul 17, 10:50 PM
    • 1,342 Posts
    • 1,712 Thanks
    Kim_13
    • #4
    • 10th Jul 17, 10:50 PM
    • #4
    • 10th Jul 17, 10:50 PM
    Over the past 2 years I have easily paid 1k in fees for direct debits bouncing and being over the -£12 maximum on my basic Santander current account.
    I'm sick of these fees, £48 this month and I have just lost my job so now I'm done.

    I don't care about cashback, interest, using a paid account.

    I just want a bank account with reasonable fees if a direct debit bounces.
    Also one that does not charge too much for ever day you are minus..

    Currently I am paying £6 a day when over and a flat £10 for each direct debit that bounces even if there was 5 in one day.
    Originally posted by lostonthetoad
    Any basic account won't charge you for these things, though you won't be able to go overdrawn unless an offline payment causes this, as the bank can't refuse such payments.) The problem is that a bank is likely to need to reject you for their standard account before you qualify to have one (I can't think of any that don't have this stipulation.)

    Though with I assume late/missed payments on your credit file, you may soon find that you qualify.

    Which bank(s) do you use at the moment?
    Sealed Pot 11 #520 ~ /£100
    VSP 2017 #9 ~ £108.83/£250.00
    CCCC 2017 #1 ~ £200.95/£120.00

    I'm a Board Guide on the Savings and Investments , Budgeting and Bank Accounts , Credit Cards and Marriage, Relationships and Families boards which means I volunteer to help get your forum questions answered and keep the forum running smoothly. Please remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this.) Any views are mine and not the official line of MoneySavingExpert.com
    • paragon909
    • By paragon909 10th Jul 17, 11:51 PM
    • 1,234 Posts
    • 1,235 Thanks
    paragon909
    • #5
    • 10th Jul 17, 11:51 PM
    • #5
    • 10th Jul 17, 11:51 PM
    Nationwide are the best in my opinion for basic account.

    Free customer services number if you ever need to call,
    Visa debit card with contactless.
    NO charges for direct debit returns. (i guess this will lower your internal score if you keep failing to pay them)
    Online banking and app...
    • eskbanker
    • By eskbanker 11th Jul 17, 12:44 AM
    • 5,792 Posts
    • 5,675 Thanks
    eskbanker
    • #6
    • 11th Jul 17, 12:44 AM
    • #6
    • 11th Jul 17, 12:44 AM
    Over the past 2 years I have easily paid 1k in fees for direct debits bouncing and being over the -£12 maximum on my basic Santander current account.
    I'm sick of these fees, £48 this month and I have just lost my job so now I'm done.

    I don't care about cashback, interest, using a paid account.

    I just want a bank account with reasonable fees if a direct debit bounces.
    Also one that does not charge too much for ever day you are minus..

    Currently I am paying £6 a day when over and a flat £10 for each direct debit that bounces even if there was 5 in one day.
    Originally posted by lostonthetoad
    Sorry if this sounds harsh or patronising but if you've been struggling to keep your head above water when employed, then there's a real chance that your finances could unravel more significantly after losing your job. Finding a different bank account may help address some of the symptoms but realistically you ought to revisit your budget from the ground up in order to try to avoid debt issues.

    Help and assistance includes the debt-free wannabe board, where you can post a statement of affairs comparing incomings and outgoings, and a free budget planning tool.
    • PeacefulWaters
    • By PeacefulWaters 11th Jul 17, 11:58 AM
    • 7,165 Posts
    • 8,819 Thanks
    PeacefulWaters
    • #7
    • 11th Jul 17, 11:58 AM
    • #7
    • 11th Jul 17, 11:58 AM
    Over the past 2 years I have easily paid 1k in fees for direct debits bouncing and being over the -£12 maximum on my basic Santander current account.
    I'm sick of these fees, £48 this month and I have just lost my job so now I'm done.

    I don't care about cashback, interest, using a paid account.

    I just want a bank account with reasonable fees if a direct debit bounces.
    Also one that does not charge too much for ever day you are minus..

    Currently I am paying £6 a day when over and a flat £10 for each direct debit that bounces even if there was 5 in one day.
    Originally posted by lostonthetoad
    Did it never cross your mind to manage your account closely enough to avoid all fees?

    Good luck finding new work.
    • WAYT
    • By WAYT 11th Jul 17, 12:21 PM
    • 711 Posts
    • 315 Thanks
    WAYT
    • #8
    • 11th Jul 17, 12:21 PM
    • #8
    • 11th Jul 17, 12:21 PM
    Virgin Money Essential Current Account Issue 2

    Also the best for when travelling abroad.
    • leon_panda
    • By leon_panda 11th Jul 17, 1:14 PM
    • 25 Posts
    • 0 Thanks
    leon_panda
    • #9
    • 11th Jul 17, 1:14 PM
    • #9
    • 11th Jul 17, 1:14 PM
    Try Starling Bank or Monese (Which is £4.99 monthly)
    Both are contactless
    • Don80
    • By Don80 11th Jul 17, 3:08 PM
    • 196 Posts
    • 77 Thanks
    Don80
    Over the past 2 years I have easily paid 1k in fees for direct debits bouncing and being over the -£12 maximum on my basic Santander current account.
    I'm sick of these fees, £48 this month and I have just lost my job so now I'm done.

    I don't care about cashback, interest, using a paid account.

    I just want a bank account with reasonable fees if a direct debit bounces.
    Also one that does not charge too much for ever day you are minus..

    Currently I am paying £6 a day when over and a flat £10 for each direct debit that bounces even if there was 5 in one day.
    Originally posted by lostonthetoad
    It sounds like you have an old basic account or a regular account. These days new basic accounts do not have any fees (there are exceptions for overseas transactions etc). If you had a newer basic account from any bank you would not be charged. I would suggest you ask your bank to change your account type. Santander's basic account comes with 2 cards - if you opened a basic account elsewhere it's one card - but no contactless card with the exception of Nationwide.

    Most banks require you to apply for a normal account, and will offer you a basic account if you do not meet their criteria. Some, like Santander, Barclays and Nationwide allow you to apply directly.

    It might be worth checking with Santander about your account type. This is the basic account:
    http://www.santander.co.uk/uk/current-accounts/basic-current-account
    • Heng Leng
    • By Heng Leng 11th Jul 17, 3:09 PM
    • 4,209 Posts
    • 1,286 Thanks
    Heng Leng
    All basic bank accounts don't charge for bounced direct debits - they may eventually cancel the direct debit mandates or close the account.

    The only (free) standard current account that doesn't charge is a NatWest/RBS Select Account with Overdraft control added.
    • Terry98
    • By Terry98 12th Jul 17, 5:37 AM
    • 829 Posts
    • 780 Thanks
    Terry98
    It looks like Lloyds read the OP's question.........

    http://www.bbc.co.uk/news/business-40555175
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