The HALIFAX are charging me for MY MONEY!

Mark7799

kenshaz wrote:

The bank should have made the poster aware of his option in respect to the £10 fee and no fee from savings account,information should be given at source,allowing chose.

Unless I've misread the original post, there is no indication that the OP wasn't advised at the time of the charge - is he/she venting at the fact they were charged or the fact that they weren't told about it?

Mikeyorks

kenshaz wrote:

But you must have had a £7000 limit on your current account,fine not every-one does or is able,but this site is about every-one and for every-one.

Don't quite follow that. The limitation on a current account, in respect of this thread, depends what you've got in it? If you're going to buy a car - you've presumably sorted the finance in advance - and just move the money into your current account on the day. Ensuring, of course, it's already cleared funds. Then pay by Debit card - having previously checked the garage will do that.

If you pay by draft - the Banks win in 2 ways. Firstly most now make a charge for a cheque drawn on any account where you have a cheque book. And then they have the value of the money from the moment they give you the draft - until the garage's Bank presents it for payment

Mark7799

kenshaz wrote:

But you must have had a £7000 limit on your current account,fine not every-one does or is able,but this site is about every-one and for every-one.

Surely if you want to spend £7000 you need to have £7000 available to spend -
*either by arranging a loan and transferring the money into a current account to use a switch card
*or by transferring savings into a current account
*or by arranging an overdraft limit for that figure

grumbler

kenshaz wrote:

But you must have had a £7000 limit on your current account

There are no any limits on current accounts besides an agreed overdraft limit. If you ask a bank to issue a bankers draft you must have money on your account anyway.
And I join to those who think that £10 charge is quite reasonable, although you can provide your calculations. However, don't forget to include all costs on the top of salaries and consumables plus some profit (banks are not charities).

Mikeyorks

regularsaver1 wrote:

There is only a £10 fee because you are provided with your own cheque book

if you want a draft from a savings account then there is no fee, as you would not have a cheque book

That's exactly right. But best to bear in mind that Web based accounts are generally exceptions to this - you operate them, and your provider won't draw a Draft on such an account

kenshaz

Mark7799 wrote:

Unless I've misread the original post, there is no indication that the OP wasn't advised at the time of the charge - is he/she venting at the fact they were charged or the fact that they weren't told about it?

Well if I had been advised,i would not have paid the £10,I would have
waited for the car ,but thats me. The poster is venting about the charge ,my point is that you should be made aware,banks should not make money by stealth,all should be in the open,because it could be my Mum, not the poster.

regularsaver1

they are made aware in the terms and conditions

yes mikeyyorks, but if you have a branch based savings account a draft is free

kenshaz

regularsaver1 wrote:

they are made aware in the terms and conditions

yes mikeyyorks, but if you have a branch based savings account a draft is free

read the small print,what a cop out,that is why summary boxes came into force,have you read the Terms and Conditions,no need to mention your options then.

Murtle

But they do advise you when you ask for one. They don't just give it to you and then say "that'll be £x please." you do have the option. One of the things worth checking before purchasing something worth lots of money?!

kenshaz

Rafter wrote:

kenshaz,

My apologies for any offense caused.

As you will see from my number of 'thanks' I am far from loyal to unfair consumer practices.

However, like a number of regular posters, I am conscious that companies are effectively groups of workers organised to efficiently keep the market economy working. The profits they make pay for salaries, dividends and share markets which ultimately fund my pension. Not all the profits go on funding lavish lifestyles for a few fatcat directors!

Unfortunately it is often 'misguided' consumers who allow the 'savvy' to profit at their expense and some of the more extreme 'moneysaving' tactics do go beyond what I would consider fair or reasonable, just like some of the policies of big companies do. I do not believe in 'an eye for an eye', I believe in fairness, transparency, good regulation and other things that mean that everyone gets a good deal.

For me, the Halifax charge seemed a perfectly reasonable charge for providing a very secure form of payment.

But I do apologise for parodying the original post quite harshly and with hindsight I should have just kept my opinion to myself.

R.

I respect your response and opinion. Thank-you