Halifax overdraft

unphased

YorkshireBoy wrote: »

Struggling with your logic here. Surely it's better to move some of your debt to 0% than to move none of it?

Oh come on, Yorkshire boy. I cannot pay off £10,000 overdraft. So ideally I would require a £10,000 credit limit on my 0% to transfer it. Transferring some of the o/d on to a 0% card will cost me the transfer fee of 2.9% and I would continue to pay the daily charge fiexed fee of £2.00 on my o/d if its above £2500. If the o/d charges structure were based on daily interest rate then a partial transfer of some of the o/d to a 0% card might be worth it, but not under the proposed fixed charges structure. Thats my logic. :rolleyes: As I have calculated an approximate optimum o/d size in my earlier post it would be cheaper to keep the o/d under the proposed fixed daily charge until it can be reduced to the optimum amount where interest charges would be lower than daily charges. If my logic is wrong then please explain.

YorkshireBoy

unphased wrote: »

Oh come on, Yorkshire boy. I cannot pay off £10,000 overdraft.

Sorry, missed the £10k maxed out overdraft facility in your earlier post.

What about Halifax agreeing to convert what's left to a loan...after you see what the SBT card provider can do for you?

I agree though, you're looking at £6-7K on the card to make the 15.9% EAR on the HICA workable (if you were to redesignate now...and even then, they've signalled their intention to shift all accounts to this new charging structure in 2009).

It's not looking good is it?

sscott5581

hopehope wrote: »

oh my god!!

I cant believe what I am reading robbing b*******:mad:

I have £3500 overdraft that I use up every month.
It is Ultimate Reward Account so I am not too sure if all these dodgy charges will apply to me??

My overdraft review date is July but I am hoping to reduce overdraft to at least £2500.
I went online to review my overdraft arrangements and it says they will guarantee overdraft limit of £2500 so I am pretty sure that come July they will reduce it down to that.

I dont want any overdraft but I am clearing my credit card first (should be cleared by end of March)

Banks dont you just love em:rolleyes: :rolleyes:

The changes do not apply to Ultimate Reward Account.

hopehope

thanks sscott

still a s***ty thing to do to their customers!!

YorkshireBoy

sscott5581 wrote: »

The changes do not apply to Ultimate Reward Account.

Yet!

From the press release...

It is intended that all Halifax accounts will move to a daily overdraft charging structure like this in 2009.

http://www.hbosplc.com/media/pressreleases/articles/halifax/2008-12-12-Anewapproa.asp?section=halifax

Empowerme_2

Hiya,

I am new to this, so be nice!

I have been with Halifax Bank over 15 years. In that time I have had an overdraft facility which has increased over the years. In the past I would be given a renewal date of my overdraft facility on my bank statement. Halifax have never changed anything until a few months ago - first they they reduced my overdraft by £200 [it was originally £3,000]. When I phoned Halifax about it I was told to appeal - which really meant that they were going to reduce it anyway.I even wrote a letter of complaint - received a letter that someone would call me back - they never did!

Now at the beginning if this year I received an email about the renewal of my overdraft on 23/1/2009, which stated I had to reapply. When I spoke to the general 0845 office number I was told that my overdraft of £2,800 will be withdrawn - leaving my account at 0. I asked if I could just have a smaller reduction on my overdraft - was informed that the system wouldn't allow the person at Halifax to make any adjustments. I explained that this procedure would leave me in hardship and asked for the tel no of the Head Office.Was informed that headoffice were unlike to offer me any further assistance until after 23/1/2009.
I am really worried about the bank charges as I have a Moneyback account. I have applied to open a bank account with Alliance + Leicester which they have accepetd my application.
Does anyone know how I can get Halifax to agree to freeze these future bank charges so that I make a monthly payment to them? I can't afford to take out a loan at the moment.

sazchik wrote: »

Hello everyone, long time lurker first time poster! I hope someone can offer some guidance. We have a Halifax current account with all our direct debits in (including the mortgage)and a £4,500 overdraft. Somewhere along the line we started dipping into the overdraft more and more (stupid I know!) until it was almost up to the limit. Bit by bit we have been trying to reduce the amount and last month after both sets of wages had been paid we were only (:eek:only???) £1000 overdrawn. Our aim is to get back in the black and get rid of the cursed thing all together. I've just seen on the top of our last bank statement that our overdraft review date is 4th February. What is the likelyhood of Halifax withdrawing the overdraft facility, will they give any notice and if they do what course of action should we take? (As I've said all our monthly bills come out of the account) Any advice gratefully recieved!

space_rider

YorkshireBoy wrote: »

Yet!

From the press release...

Is this their way of getting back the money they had to pay out for bank charge claims? Wouldn`t mind but I made a new years resolution well over 6 years ago to never have bank charges again and it`s a resolution I stuck with.

BobRock_2

space_rider wrote: »

Is this their way of getting back the money they had to pay out for bank charge claims? Wouldn`t mind but I made a new years resolution well over 6 years ago to never have bank charges again and it`s a resolution I stuck with.

It is their way of showing, once again, that they can do whatever they bloody like. Even after the incredible mess greedy bankers got us in, even after us, the taxpayers and their customers, bailing them out, they can get away with murder! I shall be witting to my local MP about this for sure - it is getting beyond farce. :mad:

opinions4u

BobRock wrote: »

It is their way of showing, once again, that they can do whatever they bloody like. Even after the incredible mess greedy bankers got us in, even after us, the taxpayers and their customers, bailing them out, they can get away with murder! I shall be witting to my local MP about this for sure - it is getting beyond farce. :mad:

They'd better have their wits about them then!! :T

PROLIANT

Maybe the banks are sick of certain people living in their overdrafts and then proceeding to default losing the bank money - the same muppets then have the ordasity to take the bank to court because they are too thick to manage their money properly and then cry rape in court!

Stupid !!!!!!