Abbey change in the way online system shows your balances

willo65

Adearn I think your use of the word "Sneaky" got a lot of attention and many people took unkindly to this, hence the responses you got. As said Totallybroke just using different phrases in your post should help. I also agree with tyllwyd, try and keep a float in the account whether cash or overdraft. I have three accounts and all have an O/d facility I do not use but is there if something does catch me out.

willo65

bob_a_builder wrote: »

"Is it really that difficult "...

for the banks to set up a system where we could nominate one of our other savings accounts to be used as a 'source' in such situations.

Technically not I think, but no doubt would hurt their profit margins, but if they were trying to offer customers a service to manage money better, you might think it would be an option



"(even though they have not breached their terms and conditions)" - just like MP's expenses then

So in theory you could move some of your savings to your current account as a "Float" just in case and this will affect your "Profit Margins" by maybe a couple of Pence/Pounds.

Technically not I think but i feel people that have savings and get charges tend to be too busy moving money back and forth from savings to current and back to get an extra couple of pence are the ones that get caught out.

simon_templar_2

If they followed your advice Willo then they would not have something to moan about. Sensible suggestions do not fit with the need to play victim to the nasty bank. Im surprised nobody has yet suggested running crying to the FOS as so often happens and becoming an uber victim of the horrible meany banks.

faisca

adearn wrote: »

I rang Abbey up and when I asked why that item hadn't shown up the previous day, she told me that they now have two processing times one at 6am in the morning an another at 4pm. Funny then isnt it that the ones that are not so called processed till 4pm are items that would show you going overdrawn thus not giving anyone time to bring their account back in credit in time.

This isn't quite correct

There are two processing times for DD every day (at all banks) but all DDs on a given day are applied early morning (6am ish).
Any DD that would take your account over your agreed overdraft gets refused.
That refused DD then gets reapplied later that day (mid-late afternoon).
If no new funds have arrived into the account during the day the DD is returned to the company requesting it as unpaid (and penalty... errr I mean admin charges are applied to your account).

If funds did arrive during the day and were enough to cover the DD, then the DD would be paid with no adverse effect at all to your credit rating.

Unfortunately I don't know any bank that contacts you to say that you have a few hours to stick some money in your account.
Banks are not friends, they're banks.

bob_a_builder

There are two processing times for DD every day (at all banks) but all DDs on a given day are applied early morning (6am ish).
Any DD that would take your account over your agreed overdraft gets refused.
That refused DD then gets reapplied later that day (mid-late afternoon).
If no new funds have arrived into the account during the day the DD is returned to the company requesting it as unpaid (and penalty... errr I mean admin charges are applied to your account).

If funds did arrive during the day and were enough to cover the DD, then the DD would be paid with no adverse effect at all to your credit rating.

Not true in case of Halifax it seems, I had just such a situation recently, checked account @ 09:00, was £20 over the std 100 od limit, OK night before, transferred funds to correct situation at that time. ( i.e. 09:00)
still charged penalty fee (£35).
contacted to protest (in a reasonable manner)
would not refund, said only one refund per account and I was already refunded an earlier charge 2 years before

Strangely none of my bank statements for either of those charge periods or several months either side ever show a negative balance - which sort of indicates that because I have corrected I have a positive balance at end of day as per faiscas post - so why the charge

faisca

Bob_a_builder

When you checked your account @ 9.00 the payment (a DD?) had already been made and pushed your account OD.
It seems as if Halifax decided (by automated means based on your account profile) to pay the DD as it didn't take you too much overdrawn.
The fact that your account was then overdrawn has automatically generated a charge.

If the DD took your account say £300 overdrawn it probably would have been refused in the early morning and you would have had the chance to fund your account before the afternoon when it would have been paid. In this case no charges would have been applied. Bear in mind though, in this case you would not see any evidence of this DD if you checked your account online @ 9.00 (neither would the ordinary level person at the telephone cutomer service centre). It would be as if this DD payment had never been requested.

If I were you I would continue to argue my case. Try and get to speak to someone more superior (and hopefully with more knowledge) and point out the above situation.