my bank are going to ruin my christmas, i need help!

bobins

Hi i have a big problem with my bank, (Halifax)

I have been with them for years, and for the last 3 years ive had a Student Current Acc while I was at uni, anyway I graduated this summer and now I am working full time. I got a letter the other day saying that my overdraft is being cancelled on the 12th December, this isnt good because I am still getting set up in my new flat etc, I rang them up to see what was going on and to apply for a new overdraft, they declined without giving me a reason! I explained my situation and that there was a guaranteed £1200 wages going in every 4 weeks and that I needed a few months to get my self sorted..

They told me i need to go into a branch to see what they can do. Whats the point of phone banking if they cant do anything?

Can anyone give me any advice, I am really worrying about this..

Sorry for the long post.. Many Thanks

Ben

mummytofour

I have found phone banking a total waste of time! I would suggest you go into your bank, they will I bet change your O/D into a loan, as they want it paid off, which will be on a better intrest rate I guess.

Dont give up, go and talk with your bank, things are not always as bad as they seem.

Vxx

innovate

Sounds like some Halifax Jobsworth got hold of your file, how annoying!

Best you can probably do in the short term is to don your business suit, take a few deep breaths, then go into your local Halifax office for a calm (not annoyed, not desperate) discussion.

Medium term you might want to look for another bank - start looking for other options now, read Martin's article if you haven't already.

Good luck, I am sure things will turn out ok for you! :cool:

bobins

hi thanks for the replies..

the overdraft was (is)interest free because it is a student account.

would i be able to arrange an appointment with a member of the branch by phone as my nearest halifax branch is 20 miles away from me, i wont be able to get down to just pop in.. thanks again

grumbler

bobins wrote:

...would i be able to arrange an appointment with a member of the branch by phone ...

Yes, you would.

In the future remember: all overdrafts are 'repayable on demand' ...

jonesMUFCforever

If you are a graduate with a clean credit history then all banks will bite your hand off if you were to transfer your account to a rival. Have Halifax no Graduate accounts with cheap rate Graduate loans??

newfoundglory

ejones999 wrote:

If you are a graduate with a clean credit history then all banks will bite your hand off if you were to transfer your account to a rival. Have Halifax no Graduate accounts with cheap rate Graduate loans??

Exactly. Check your credit file... if its clean, i'd tell Halifax where to stick it, and then jump ship to a different bank (arrange a cheap/free graduate overdraft elsewhere and just transfer your existing one)

homersimpson_3

not sure if this helps but alliance and leceister will give you a minimum of £250 overdraft if you open its premier or premier direct current account- 0% interest for 12 months, followed by 5.9% aer. you also get £50 if you're recommended by a friend- didn't have a 'friend' with alliance and leceister account but lots of people in this forum offered to recommend me. current accounts are done over internet or phone banking.

bobins

thanks for the help people, i have reacently opened a TSB current account so i think im going to sack halifax off after ive paid this overdraft off...

bargainhunt_3

I had similar issues with Halifax while I was a student years ago and my brother has had problems with Bank of Scotland (part of HBOS) in exactly the same way.

I think their attitude towards students and graduates sucks so I'd advise everyone to stay away from them. When I moved my account I was told by the new bank 'they [Halifax] aren't a proper bank anyway'. I still apply that rule to them today, they are nothing more than a jumped up building society and their staff are about as much use hemmoroids. In fact perhaps thats what the H stands for :-)

grumbler

bargainhunt wrote:

...'they [Halifax] aren't a proper bank anyway'. ... they are nothing more than a jumped up building society

I don't like Halifax too, but why such arrogant attitude to building societies?! I have many current accouts. The main one is with Nationwide BS for a long time and I will never change it to any bank ...