A&L Current Account - O/Draft Charge?

I closed down my Premier Direct Current Account with Alliance & Leicester as the interest was abysmal.

By mistake I transferred the closing balance to an external account twice. I did this over two days because their online banking screens take so long to update I could still see the original closing balance on day 2 so thought that I hadn't transferred it. I transferred it again, but to my horror it has now put the account into debit of £370. :eek::eek:

I now have a "Payment Review Fee - BP Returned entry - £25" showing on my statement. Is this the overdraft charge? And will this be a daily fee?

I can't believe how unfair A&L are.

Comments

  • YorkshireBoy
    YorkshireBoy Posts: 31,541
    Name Dropper First Post First Anniversary
    Forumite
    By mistake I transferred the closing balance to an external account twice. I did this over two days because their online banking screens take so long to update I could still see the original closing balance on day 2 so thought that I hadn't transferred it. I transferred it again...
    This won't help you now, but it may help others.

    A&L have always been late in processing BACS transfers out, ie they hang on to the funds for 24 hours before releasing them to the BACS system.

    Logging out of your A&L online area is a two-stage process (log out and then confirm you want to log out). Once you've made the first log out request you're presented with an 'activity summary' detailing all you've done since you logged in. Had you checked this, before confirming you wanted to log out, you would have seen that the payment request had been received/actioned.

    This 'activity summary' history is also available from the left hand menu option (can't remember which exactly but it's definitely there) when you log in. Had you checked this when logging in to make the second payment you'd have seen that you'd no need to make it as the first was being processed.
    I now have a "Payment Review Fee - BP Returned entry - £25" showing on my statement. Is this the overdraft charge? And will this be a daily fee?
    "BP" denotes 'bill payment' and is the fee for the second transfer request (since returned?) that you made because there were insufficient funds available.

    It's not an overdraft fee...those come along shortly. By that I mean there will be further charges to follow, namely 50p per day (max £5 per month) for using your authorised overdraft and/or £5 per day (no max?) for using an unauthorised overdraft.

    I think you'll have to credit some cash sharpish to minimise these charges and then, once things have settled down, ask A&L to close the account and forward any credit balance to you (either by cheque or BACS transfer...if they'll do that).
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 341.6K Banking & Borrowing
  • 249.7K Reduce Debt & Boost Income
  • 449K Spending & Discounts
  • 233.7K Work, Benefits & Business
  • 605.8K Mortgages, Homes & Bills
  • 172.3K Life & Family
  • 246.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards