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    • sol198
    • By sol198 2nd Dec 17, 10:30 AM
    • 34Posts
    • 15Thanks
    sol198
    bank of scotland overdrafts
    • #1
    • 2nd Dec 17, 10:30 AM
    bank of scotland overdrafts 2nd Dec 17 at 10:30 AM
    Hi there,

    Looking for a bit of advice on this mornings bank account activity,

    I have a £2k overdraft on a bank of scotland current account. recently the bank have changed their overdraft charges to 7p per £100 per day.

    admittedly I used the 2k overdraft but after these changes I paid a portion off and could budget to around 500-1k usage the past month,

    i was previously paying £1 per day and this meant a £28-£31 overdraft usage charge every month which I could handle.

    in the past month I have been getting daily charges from 0-roughly 75p, this works out cheaper than what i was paying previously per month for overdraft usage.

    this morning I have paid my daily overdraft fee but they have also charged me the old £29 chg as well? I can't see anything which said this would still apply. Apologies if I haven't read the small print too well and this is correct.

    anyone else using this new system had the same? is correct?
Page 1
    • molerat
    • By molerat 2nd Dec 17, 10:41 AM
    • 17,472 Posts
    • 11,698 Thanks
    molerat
    • #2
    • 2nd Dec 17, 10:41 AM
    • #2
    • 2nd Dec 17, 10:41 AM
    The old charges were paid in arrears and the new charges are pay as you go so the £29 is for previous month's use before the new charges started.
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    • sol198
    • By sol198 2nd Dec 17, 10:46 AM
    • 34 Posts
    • 15 Thanks
    sol198
    • #3
    • 2nd Dec 17, 10:46 AM
    • #3
    • 2nd Dec 17, 10:46 AM
    The old charges were paid in arrears and the new charges are pay as you go so the £29 is for previous month's use before the new charges started.
    Originally posted by molerat
    makes sense, many thanks for this.

    This will be a harsh hit for some users this calendar month by the looks of it
    • Dobbibill
    • By Dobbibill 2nd Dec 17, 11:08 AM
    • 2,537 Posts
    • 3,631 Thanks
    Dobbibill
    • #4
    • 2nd Dec 17, 11:08 AM
    • #4
    • 2nd Dec 17, 11:08 AM
    This will be the last arrears charge for you because the new structure started in Nov. (Dec charge is for Oct usage)

    The new structure is 1p per £7 used and daily means usage and charge leave the same day.
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