bank charges!

bosco33

natweststaffmember wrote: »

At the moment NatWest Step account is solo card. It is changing in the third quarter of this year to VISA electron.

thankyou. i really appreciate the help yourself and the other two members have shared with me in the past two day's, it's been very helpful and something that i will hang onto and share with others.....
just goin to head to the bank shortly, so hopefully all will end fairly..... have a nice day!

bengal-stripe

DrScotsman wrote: »

He doesn't have a Visa Electron/Solo, does he?........Had he had a Visa Electron this wouldn't have happened, either it would have declined him because he didn't have enough balance,

Even with an Electron card it is possible to go overdrawn.

When the card gets sanctioned for a transaction, that money is taken off the ‘available balance’ immediately. Once it gets booked (usually two days later), it comes off your proper balance. Occasionally, for one reason or another, transaction take longer to be submitted. After five (or so) days, if no transaction has been received, the provisional deduction falls off and the available balance reverts to where it was. Quite a few people have spent that money, only to be hit a few days later by the previously transaction, taking them overdrawn and, on top of that, into bank charge territory.

Do not rely on your bank to keep track of your spending, but keep in control the old-fashioned way, by using a notebook and a pencil.

bosco33

bengal-stripe wrote: »

Even with an Electron card it is possible to go overdrawn.

When the card gets sanctioned for a transaction, that money is taken off the ‘available balance’ immediately. Once it gets booked (usually two days later), it comes off your proper balance. Occasionally, for one reason or another, transaction take longer to be submitted. After five (or so) days, if no transaction has been received, the provisional deduction falls off and the available balance reverts to where it was. Quite a few people have spent that money, only to be hit a few days later by the previously transaction, taking them overdrawn and, on top of that, into bank charge territory.

Do not rely on your bank to keep track of your spending, but keep in control the old-fashioned way, by using a notebook and a pencil.

i suppose that's what they all want, as all they really care about is taking your money from you, any way they can..... so it's always to their benefit and not our's.
pen and pencil is good if you are dedicated and careful person with your cash, which i can be at times..... so i suppose givin that a try would do no harm, thanx again..... have a nice day!

DrScotsman

bengal-stripe wrote: »

Do not rely on your bank to keep track of your spending, but keep in control the old-fashioned way, by using a notebook and a pencil.

For the record I agree with you on that. I just thought the OP ought to know a solution to his problem regardless of if it's his or the bank's fault.

stclair

natweststaffmember wrote: »

At the moment NatWest Step account is solo card. It is changing in the third quarter of this year to VISA electron.

Its changing to Visa Debit rether then Electron (however the card will be chipped like an electron card so it seeks authorisation for every transaction).

price996

Hi, this happened to my son. He has a electron card and ordered stuff of the internet and someone gained his card details and ordered more. He went overdrawn by £8.33. At the time he was 17 so they could do only charge him, but also being so young he didnt check his bank statement. Eventually after his 18th birthday he got a letter threatening the baliffs, so I asked him to dig out his statements. He had occurred 3 x £35 bank charges. We went to the bank with the intention of paying the overdraft, but was told not to by a member of staff and she recorded the fraud and refunded the bank charges. A week letter he received a letter calling him a liar and that he should have checked his bank statements sooner. They reinstated all the charges including 2 more! We went back to the bank, the receptionist dealt with us because the bank manager would not come out from the back. They insisted that they were right so I said we would close the account expecting it to be £183.33 but they told me it would be another £70. I was fuming, but my son who was embaressed being of nervous type said to leave it and he would pay it back, it took him 4 months and being out of work went without his job seekers money for that long. If he hasnt struggled enough with finding work, luckily I could put a roof over his head and he doesnt have bills to pay!:mad:

DrScotsman

To be brutally honest, although it sounds like you've had a hard time, it doesn't sound like you fought hard enough to say it was fraud.

I think the Consumer Credit Act means you're only liable for a maximum of £50 for fraud (which will apply here since you went overdrawn), and I think the banking code says you're liable for none. Not to mention if a minor goes overdrawn...is he liable to pay it back? I thought there was a reason we didn't give kids credit cards.

And of course, try to claim back the bank charges.

I asked him to dig out his statements. He had occurred 3 x £35 bank charges.

At 17 I didn't check my bank statements either...but that was because I checked online banking :rolleyes: