Bank making it as hard as possible to get back in the black

Chris120A

Dunno if this should be on here, or on the "Vent" board, but here goes:

As a result of me going £280 over my overdraft limit, my bank (who shall remain nameless) cancelled all my direct debits and standing orders and gave me until today to get back within my limit.

Today I paid the last £100 into my account, which should have taken me £30 under my overdraft limit, and been the end of my financial troubles.

HOWEVER

After I paid the money in, I went to check my balance at the cash machine - and it swallowed my card!!! I spoke to a personal banker at the branch, who told me my account had been passed on to their debt management department, to get in touch with them, and they will send me a new card. He also told me that because I was back under my limit, I should be able to start setting up direct debits again, as long as I had enough in my account to cover them.

So I call the debt management people. They're going to give me an ELECTRON card, which means I can't repay all the people I promised to catch up missed payments with on payday, because most of them don't accept it! To add insult to injury, they've said I'll have to wait 2 weeks before setting up any direct debits, or they may get returned unpaid. Even though by the time they are due to come out (after payday), I will have enough money in my account. All this will most likely equal MORE late payments, more charges, more debt for me!

It just makes me wonder, what is the point in scrimping and saving to get yourself out of debt, when your own bank just makes it as hard for you as possible to get back on your feet? :mad:

us,thecat&thedebt

my advice would be to take your business else were!!!

even a new account with a new bank wouldnt take this long!!!

severussnape

my oh bank account keeps having mysterious direct debits set up on it for animal charities he's having to keep checking the account.

its only in his name and nobody else could put them on. go figure that one out

banks just want to screw you as much as possible

Chris120A

us,thecat&thedebt wrote:

my advice would be to take your business else were!!!

even a new account with a new bank wouldnt take this long!!!

Believe me, as soon as the overdraft is paid off, I am!!!

Any tips on making the switch as expensive and annoying for my bank as possible?

Turning_into_scrooge

Chris120A wrote:

Believe me, as soon as the overdraft is paid off, I am!!!

Any tips on making the switch as expensive and annoying for my bank as possible?

Why wait till you've paid the O/D off? Waiting could cause you more financial hardship in the long run Move banks now and set up a standing order payment for x amount each month to go into the od account. Try negotiating with the bank and see if they will freeze the interest. Not Halifax by any chance is it?

micheleen

Chris120A wrote:

Believe me, as soon as the overdraft is paid off, I am!!!

Any tips on making the switch as expensive and annoying for my bank as possible?

Don't close your old account, leave it in credit by £1 and order monthly statements by post

Conor_3

severussnape wrote:

my oh bank account keeps having mysterious direct debits set up on it for animal charities he's having to keep checking the account.

its only in his name and nobody else could put them on. go figure that one out

banks just want to screw you as much as possible

It's his own fault if he doesn't get the money back. They're covered by the Direct Debit Guarantee. THAT'S WHAT IT IS THERE FOR unless he's telling porkies and simply couldn't be bothered to cancel them.

If the money has been taken out mistakenly, he can get it back from the bank. Just done the same today when the RSPCA took out £6.50 after I cancelled it in December. Phoned Barclays, explained it to them. Money was put straight back into my account.

bj-sailaway

Hi there, well done for trying to sort this out - stick with it, it'll come right. The advise about moving is good advise, this happenned to us years ago, the best thing we ever did was open an account elsewhere and set-up our salaries to go there, and our bills to be paid. You then have to be really strict with your left-over income, and paying a bit each month towards the old overdraft.

This way you stop all the charges keep accrueing, and you re-gain your income within your control. Even if it's a basic account with a basic card facility, it's still worth it.

Don't close the old account, give them hassle by keeping it open ages and making them foot the bill of sending your statements - good idea by the other poster!

Xbigman

severussnape wrote:

banks just want to screw you as much as possible

No, no, no. Banks are just trying to maximise their account profit ratio. :rotfl:

Its only the government that screws you. :mad:
Regards



X

ONEILL113

Let me guess it has got to be halifax or barclays who is giving you the trouble, they did the same to me and i am now getting away from both of them they ar bad news banks, i have just changed to natwest they seem to be pretty good at the moment.

mrbadexample

Chris120A wrote:

sult of me going £280 over my overdraft limit, my bank (who shall remain nameless)

Why let them remain nameless? If you want to hurt them, name & shame them - if it costs them customers then that'll hurt more than most other things you can do!