Changes to hbos overdraft charges!!!

gaylem_2

Hi everyone,
My hubby has just bn on the fone with Halifax re: them removing his overdraft facility without any warning, anyway,
one of the robots on the fone let it slip that on overdrafts
as of the 6th DECEMBER, THEY ARE CHARGING £1 PER DAY :mad:
(wonder when they will inform us of this change...)

We've both bn customers all our lives are are so disgusted by the way they have treated us that we are now looking elsewhere.
Any suggestions of which bank to switch to, or are they all as bad as each other?!?

hoyles10

I recently switched from Natwest to Alliance and Leicester and it's the best thing i've ever done and in all I got £125 off them for switching. They in my opinion are the best bank i've used.

Other people will say that A and L are the worst bank they have used but it's all down to personal experience. If you look on here you will find that with every bank 50% of people love them 50% of people would have nothing to do with them.

stclair

HBOS annouced this change ages ago.

mrcol1000

First Direct give you a £250 fee/interest free overdraft. But you do need at least £1000 paid in to the account per month otherwise they charge you a fee.

KimYeovil

So charging someone £1 to £3 is worse than charging them £35 or £25? Looks like a bargain. Why are you upset?

mrcol1000

KimYeovil wrote: »

So charging someone £1 to £3 is worse than charging them £35 or £25? Looks like a bargain. Why are you upset?

I think its the fact that instead of people being charged only if they go into their overdraft without permission or don't bother to pay the agreeded min amount on their credit cards (which would have been detailed in their T&C). Everyone is going to be charged whether they follow their T&C or not. Cheers Martin.

durham_girl

£1 isn't bad, Lloyds charge £15 a day for being overdrawn!

missjennipenni

But this new charge is £1 per day for ARRANGED overdrafts, not for when you go into it by accident! I opened my HBOS account & was told it was a FREE £100 overdraft, now I am suddenly going to be hit with a £1 a day charge for using it.

KimYeovil

It's only £1 per day when used. If this is not convenient or the right price then do not use it.

Nobody needs to use their arranged overdraft. Manage your spending. They are only there for occasional emergency use. They are not intended for use month in month out.

Money_maker

KimYeovil wrote: »

It's only £1 per day when used. If this is not convenient or the right price then do not use it.

Nobody needs to use their arranged overdraft. Manage your spending. They are only there for occasional emergency use. They are not intended for use month in month out.

In an ideal world overdrafts would not exist and everyone would live happily ever after. This is MSE and the real world. People need them and use them even though they shouldnt have to.

'Nobody needs to use their arranged overdraft' is a ridiculous statement to post on this forum and quite frankly its insulting to those who have had redundancy or are having financial problems on the DFW board.

KimYeovil

How insulting and ridiculous. To the contrary, this is MSE - it is not 'blindly spend money regardless of the consequences'.

Prices of services change with time. If you are not happy with a new price you are under no obligation to continue to use a service.

The OP has three paycheques with which to clear their overdraft. Since an overdraft, by definition, can be cleared with a single paycheque there is no problem if the OP dislikes the new terms.

Redundancy is an irrelevance - even in these times very few people are given no notice and absolutely no-one is not aware of the warnings. So everyone adjusts their financial obligations to suit. If you have not bothered to do so then you are unlikely to bother to read this site.