which account? help....i dont WANT credit!!!

lilian_gish

following an endless cycle of unauthorised overdraft followed by a bank charge forcing me back into unauthorised overdraft thus another bank charge and so on things have spiralled out of control for me.

im in discussion with my bank regarding the overdraft and i am sorting it out,i am also trying to claim back the charges.

in order to avoid this situation in future i have been trawling then net looking for a basic account with no borrowing facility and no uanauthorised overdraft but to no avail.

does such an account exist, also which has the lowest charges?

currently if my bank pay a DD for me they charge £28 and another £35 for taking me into unauthorised overdraft.

all i want is an account where the funds available are actually mine so i dont unwittingly borrow 25p and pay back £35.25

i would appreciate any help

YorkshireBoy

A HSBC basic account might be an option, but be warned...although they don't charge for failed DD's (the main cause of your problems?), they do adopt a 'three strikes and you're out' policy!

http://www.moneymadeclear.fsa.gov.uk/HTML/en/products/bank_accounts/basic_bank_accounts_popup.htm

book12

lilian_gish wrote: »

following an endless cycle of unauthorised overdraft followed by a bank charge forcing me back into unauthorised overdraft thus another bank charge and so on things have spiralled out of control for me.

im in discussion with my bank regarding the overdraft and i am sorting it out,i am also trying to claim back the charges.

in order to avoid this situation in future i have been trawling then net looking for a basic account with no borrowing facility and no uanauthorised overdraft but to no avail.

does such an account exist, also which has the lowest charges?

currently if my bank pay a DD for me they charge £28 and another £35 for taking me into unauthorised overdraft.

all i want is an account where the funds available are actually mine so i dont unwittingly borrow 25p and pay back £35.25

i would appreciate any help

Lowest charges are Barclay's Cash Card account.

lilian_gish

YorkshireBoy wrote: »

A HSBC basic account might be an option, but be warned...although they don't charge for failed DD's (the main cause of your problems?), they do adopt a 'three strikes and you're out' policy!

http://www.moneymadeclear.fsa.gov.uk/HTML/en/products/bank_accounts/basic_bank_accounts_popup.htm

DD charges are not the problem really, its the unauthorised overdraft charge incurred if i try to make a card payment greater than my balance

i had a BOS cardcash account a few years ago which was ideal,if i had insufficent funds my card got declined (embarrasing but cheap lol) however this account no longer exists,

will check out the hsbc and barclays,thanks for helping

theboylard

Try Yorkshire Bank or LloydsTsb - they both offer very good on-line banking, basic accounts with no credit facilities and both offer usable debit cards (Maestro @ YB and Visa Debit @ LTSB).
No Faster Payemnts though - only available to "proper" accounts as explained by the nice Polish Customer Service lady!!

Havn't got a scooby about charges as I never get that bad!!

Sharon87

Halifax Easycash account is one. I have that, it comes with a Visa Electron card. It can't go overdrawn. Once I had a minus figure in my account though, because of an uncleared transfer (before faster payments) and they didn't charge me anything. So i'd say go with them.

Kavanne

OP, I think it might also be worth starting to budget a bit more. Knowing how much you have available to spend will knock those charges on the head pretty sharpish!!

Confused_Mother

lilian_gish wrote: »

in order to avoid this situation in future i have been trawling then net looking for a basic account with no borrowing facility and no uanauthorised overdraft but to no avail.

does such an account exist, also which has the lowest charges?

Not too sure about the charges but try a Natwest Step Account.

dzug1

Just about all the banks offer a 'basic bank account'

http://www.moneymadeclear.fsa.gov.uk/HTML/en/products/bank_accounts/basic_bank_accounts_popup.htm

lists them.

But they almost all charge for bouncing a DD. The only way round that is not to pay anything that way