Halifax overdraft charges...new!

If like me, you have a Halifax account with an overdraft which you seem to be eternally inside of, but never going over, then be warned...

From 3rd december 09, Halifax will be applying a daily charge of £2 to all overdrafts when in use. Equates to £60 a month!

I'm jumping ship now. Halifax will be writing to customers in October...so here's your insider advance warning!
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  • YorkshireBoy
    YorkshireBoy Posts: 31,541
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    jwturpin wrote: »
    From 3rd december 09, Halifax will be applying a daily charge of £2 to all overdrafts when in use. Equates to £60 a month!
    Even those sub £2,500 overdrafts that are currently charged at £1 per day on the Reward account.

    Or did you mean to say up to £2 per day?
  • jwturpin
    jwturpin Posts: 62 Forumite
    sorry, that's £2 a day on overdrafts over £2500, 50p a day below this Fees on unarranged over drafts are £5 a day
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898
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    Well if you can't arrange something before December you deserve to be charged is all I can say.
    Get it sorted now so that an overdraft is a luxury not a necessity.
  • M_Thomson
    M_Thomson Posts: 1,596
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    jwturpin wrote: »
    sorry, that's £2 a day on overdrafts over £2500, 50p a day below this Fees on unarranged over drafts are £5 a day

    Overdrafts for under £2500 are £1 a day not 50p.
  • melorablack
    melorablack Posts: 1,114 Forumite
    These are the overdraft charges on the Reward current account...it's been around since the beginning of the year.
  • I think OP needs to clarify - are we talking about the Reward Current Account here, or are we talking about changes to the High Interest / Ultimate Reward Current Account?
    You've never seen me, but I've been here all along - watching and learning...:cool:
  • noh
    noh Posts: 5,789
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    edited 1 August 2009 at 11:15AM
    I think OP needs to clarify - are we talking about the Reward Current Account here, or are we talking about changes to the High Interest / Ultimate Reward Current Account?

    The reward current account already has this fee structure.
    The HICA and URCA will change to this fee structure in December this year,
    See previous thread on the subject:-

    http://forums.moneysavingexpert.com/showthread.html?t=1847875
  • LongTermLurker
    LongTermLurker Posts: 1,996
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    noh wrote: »
    The reward current account already has this fee structure.
    The HICA and URCA will change to this fee structure in December this year,
    See previous thread on the subject:-

    http://forums.moneysavingexpert.com/showthread.html?t=1847875
    Thanks, that's why I mentioned it. Posts above were saying this thread was talking about the Reward account, but OP was saying the rates were coming out in December. If OP is right, it may be that the lower overdraft fee for the old accounts will only be 50p/month, not the same as the reward - this would make some sense, because only in the reward account (eq £5 payment made) do you get charged double the daily rate.

    The thing is, everyone should have been aware when the reward account came out that similar fee structures would be applied to the other accounts at some point, and there were lengthy discussions then that Halifax would not be the place for people with large active overdrafts - for the rest of us, earning £15 - £60*/month, it's about the best current account ever invented :T

    (* some people claim to have opened 3 Halifax + 3 BOS accounts each between them and their partners)
    You've never seen me, but I've been here all along - watching and learning...:cool:
  • jwturpin
    jwturpin Posts: 62 Forumite
    Sorry I shall clarify....
    I have a HICA. There are no charges on the OD, other than interest payable.
    from 3/12, charges will apply at £2 per day over £2500, and £1 a day for under, I got the 50p thing wrong.

    And to this guy...
    Well if you can't arrange something before December you deserve to be charged is all I can say.
    Get it sorted now so that an overdraft is a luxury not a necessity.

    Maybe life is la di da for you Mr Flush, but for some life is tight!! keep your negative comments to yourself, they are not welcomed.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898
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    jwturpin wrote: »
    Sorry I shall clarify....
    I have a HICA. There are no charges on the OD, other than interest payable.
    from 3/12, charges will apply at £2 per day over £2500, and £1 a day for under, I got the 50p thing wrong.

    And to this guy...


    Maybe life is la di da for you Mr Flush, but for some life is tight!! keep your negative comments to yourself, they are not welcomed.
    Oh come on you have 5 months to sort it out!
    Don't be so touchy - you came on a public forum and I reiterate what I say - if you can't sort your finances in such a way that you don't get punished by charges there is only one person to blame.

    Have you looked into clearing your overdraft by getting a loan for instance?
    Have you got a monthly budget to see where your money is going?
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