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Possible Fee Free Account: Let them know it's a good Idea!
anruari
Posts: 16 Forumite
Egg / Citibank are considering offering an account with no fees for paying or refusing a direct debit or any other transaction.A promise not to allow you to go overdawn. And no other standing monthly fees. We should let them know it's a good idea.
I have in the past successfully reclaimed £2500 in bank charges from Natwest, so I know how much bank charges can hurt, and how difficult it can be to reclaim (it took me a year)
I currently have a credit card with Egg. I just filled in an online questionnaire which implied that they are considering offering a range of new products in conjunction with Citi (their parent company). Most of the products looked like good copies of some of the other premium accounst currently on the market, such as cash-back accounts, travellers accounts (no international charges) etc. These products are not unique but may be worth a look if they materialise for those in the market for them.
One of the products was an account which offered the promises
"We will not take you overdrawn" and "no fees for paid or unpaid transactions"
There were some other features that would be more common a a more premium type of account.
I have not previously come accross a bank offering these promises, and it would be worth letting Egg / Citi know that there is a large group of people who would be interested in applying for / swiching to this type of account.
This product could be of HUGE benefit to many of the users of this forum - I myself discovered last month that A&L's £5/day fee for being past your overdraught limit is not capped until day 20 - thats a £100 fee to pay this month, plus 3 refusesd direct debit charges (£75) and the resulting loss of my motorbike insurance as I didn't have £110 to pay re outstanding part of the annual premium (it's SORN so that dosn't matter, but I could loose my 5 year no claims bonus if I dont renew soon).
I have in the past successfully reclaimed £2500 in bank charges from Natwest, so I know how much bank charges can hurt, and how difficult it can be to reclaim (it took me a year)
I currently have a credit card with Egg. I just filled in an online questionnaire which implied that they are considering offering a range of new products in conjunction with Citi (their parent company). Most of the products looked like good copies of some of the other premium accounst currently on the market, such as cash-back accounts, travellers accounts (no international charges) etc. These products are not unique but may be worth a look if they materialise for those in the market for them.
One of the products was an account which offered the promises
"We will not take you overdrawn" and "no fees for paid or unpaid transactions"
There were some other features that would be more common a a more premium type of account.
I have not previously come accross a bank offering these promises, and it would be worth letting Egg / Citi know that there is a large group of people who would be interested in applying for / swiching to this type of account.
This product could be of HUGE benefit to many of the users of this forum - I myself discovered last month that A&L's £5/day fee for being past your overdraught limit is not capped until day 20 - thats a £100 fee to pay this month, plus 3 refusesd direct debit charges (£75) and the resulting loss of my motorbike insurance as I didn't have £110 to pay re outstanding part of the annual premium (it's SORN so that dosn't matter, but I could loose my 5 year no claims bonus if I dont renew soon).
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