We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Bank Interest charges
Options

GCusdin
Posts: 14 Forumite
With my bank account I have a £100 overdraft.
Now and then I have gone over this limit and have been charged interest.
Every month I recieve a email with all my charges on (this does not include interest).
When it came for the bank to take there account charges out they took interest aswell, which put me overdrawn.
I had no letter saying how much the interest would be, then when I spoke to the bank they said that because the interest is calculated daily there was no way of informing customers how much it would be.
Does this mean a buisness or personal customer, that has say a £1000 overdraft, will get charged interest without being told???
Can you get charged some thing without being informed??
Because of this interest I am now being charged £28 for going over my overdraft limit.
If I was informed about interest there would have been enough money to pay it.
Am I just being an idiot in all this??
Please help
Now and then I have gone over this limit and have been charged interest.
Every month I recieve a email with all my charges on (this does not include interest).
When it came for the bank to take there account charges out they took interest aswell, which put me overdrawn.
I had no letter saying how much the interest would be, then when I spoke to the bank they said that because the interest is calculated daily there was no way of informing customers how much it would be.
Does this mean a buisness or personal customer, that has say a £1000 overdraft, will get charged interest without being told???
Can you get charged some thing without being informed??
Because of this interest I am now being charged £28 for going over my overdraft limit.
If I was informed about interest there would have been enough money to pay it.
Am I just being an idiot in all this??
Please help
0
Comments
-
It's normal for 'variable' types debts like CC or overdrafts to receive a bill once a month showing the interest and any charges up to the statement date.
They don't usually write separately saying how much the interest is.
Surely you were expecting to be charged interest if you used the overdraft?0 -
Check your previous statement.
Does it mention "interest to be debited at the end of next month" or something like that on it?
Me thinks that's how they told you.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 599K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards