Halifax/ Bank of Scotland: a guide to account changes.

Nathan_Spleen

jambosans wrote: »

My point was clear, you implied this thread was started because I thought the terms and conditions were not easy to understand..

My mistake then.

Must have been an entirely different jambosans who stated that ''Some of the information contained on this guide may be incorrect''. As these are clearly not words of someone who is genuinely confident it's easy to understand.

jambosans

Nathan_Spleen wrote: »

My mistake then.

Must have been an entirely different jambosans who stated that ''Some of the information contained on this guide may be incorrect''. As these are clearly not words of someone who is genuinely confident it's easy to understand.

Take your snarky comments elsewhere, you have nothing else to respond, except being deliberately pedantic. I do not have all of the accounts effected, so of course I will put a disclaimer stating some information may be incorrect - a mistake does not indicate I have not understood it. Read the signature, I don't claim to know everything. This guide is a collection of information gathered from other posts on MSE and from BoS, so there may be mistakes. This guide was also posted before HBOS made an official announcement, or mailing had been received, so much of the information provided was un-sourced 3rd party posts.

mttylad

Oh dear, er indoors will be upset tonight when I show her the letter.
We have a joint current account & our mortgage with the Halifax - paid on the 2nd of the month at £700 ish, I was unemployed (redundancy) for the last 6 months so have been using the arranged £2400 overdraft a lot. Now I am in work and get paid £1300 on the 6th and er indoors gets paid on the 16th.

So we are screwed, we rely on the overdraft because of the dates involved.

Am not happy that we will be paying £30 a month.

Methinks I'll be wanting a meeting with the bank and insisting that they change the date that payment is taken to something like the 10th instead.
And if that does not prevent it then I think I'll be moving to another bank.

Rachel.H_2

I am absolutly seething about this! I have joined this site today to see if there is anything I can do to prevent this change to my account! 2 years ago I left the Halifax and went with A & L, this of course left me with an overdraft which needed to be paid back, it was £1000 overdraft and I slowly began paying it back at £25.00 a month, they, of course took off their interest which was around £13ish a month so I have only reduced it to £843.00-. Now according to these new rules I have to pay at least £30.00 a month just for the privalige of having a halifax overdraft! I was furious! the slogan says "Halifax, a little extra help". I pointed this out to customer services when they stated "theres nothing we can do". I really cant afford it, Ive applied for a credit card to pay it off but have been turned down. I didnt want any further credit anyways as I am paying back all the debt i got into during "the boom". Is there anything at all I can legally do to prevent them charging me £30.00 a month? It just seems so unfair! I feel Ill never pay it off now, Im completly frustrated.

opinions4u

mttylad wrote: »

We have a joint current account & our mortgage with the Halifax - paid on the 2nd of the month at £700 ish, I was unemployed (redundancy) for the last 6 months so have been using the arranged £2400 overdraft a lot. Now I am in work and get paid £1300 on the 6th and er indoors gets paid on the 16th.

So we are screwed, we rely on the overdraft because of the dates involved.

Am not happy that we will be paying £30 a month.

Make sure they change you over to the Reward account. Then at least you will get a fiver back. Ring them on 08457 20 30 40 and ask them to sort it.

Methinks I'll be wanting a meeting with the bank and insisting that they change the date that payment is taken to something like the 10th instead.

The only people who can insist on what your mortgage payment date is are your lender. You have a contractual agreement with them. Halifax will, however, agree to a change of monthly payment to any date within the same calendar month. So if you wanted to move it to the 10th, 16th or even 28th then this is possible. A call to 08457 27 37 47 should be able to arrange it. Your mortgage will be charged interest on the monthly payment amount within the month until it's paid though.

And if that does not prevent it then I think I'll be moving to another bank.

Always an option if you can't make it work for you. But this can become a beneficial arrangement for many and your idea of adjusting the mortgage payment could just make it win for you.

---

Rachel.H wrote: »

I am absolutly seething about this! I have joined this site today to see if there is anything I can do to prevent this change to my account!

Not a thing.

I was furious! the slogan says "Halifax, a little extra help".

I think you'll find it's "Always giving you extra" these days. Interpret that as you will .

I pointed this out to customer services when they stated "theres nothing we can do".

Did you really expect them to say "just for you we'll do something different"?

I really cant afford it, Ive applied for a credit card to pay it off but have been turned down. I didnt want any further credit anyways as I am paying back all the debt i got into during "the boom".

So if they'd walloped up their interest rates to 39.9%, for example, what would you have done?

Is there anything at all I can legally do to prevent them charging me £30.00 a month?

No. Have you asked them to change your account to a Reward account so that they can re-credit you with a fiver a month if you credit the account with £1,000?

It just seems so unfair! I feel Ill never pay it off now, Im completly frustrated.

I'd suggest getting over to the Debt-free Wannabe board and asking for help there.

If you can increase you income slightly and reduce your spending slightly you can begin to chip away at the overdraft.

Oliver27

At the moment with Halifax if you say go £5 overdrawn without a arranged overdraft you could be looking at

£35 paid or unpaid item fee for the transaction that took you overdrawn
£28 Unaranged overdraft fee

Total £63

So am I right in thinking with the new system if you bring the ac back into credit the following day you would only end up with a £5 charge in total in the above scenario compared to £63 in the current system.

noh

Oliver27 wrote: »

At the moment with Halifax if you say go £5 overdrawn without a arranged overdraft you could be looking at

£35 paid or unpaid item fee for the transaction that took you overdrawn
£28 Unaranged overdraft fee

Total £63

So am I right in thinking with the new system if you bring the ac back into credit the following day you would only end up with a £5 charge in total in the above scenario compared to £63 in the current system.

That is correct

mr_fishbulb

jambosans wrote: »

...
Reward Current Account
....

• You are allowed one joint and one sole Reward Current Account (this takes effect on 01/11/09). Those with more are not having their accounts closed or downgraded.

I'm a little confused with this part.I have 3 reward accounts (1 is my current account upgraded from a high interest account, and 2 are just to get £10 extra each month).

So although I will have more that allowed, no action will be taken by Halifax to change this? Seems a little strange?

noh

mr_fishbulb wrote: »

I'm a little confused with this part.I have 3 reward accounts (1 is my current account upgraded from a high interest account, and 2 are just to get £10 extra each month).

So although I will have more that allowed, no action will be taken by Halifax to change this? Seems a little strange?

You won't have more than allowed. Your accounts were opened before 1st November when the T+Cs say no more than 3 Reward accounts
Halifax have not commented on what if anything will happen to those of us with 3 Reward accounts.
I'm sure we will find out in the fullness of time.
Meanwhile just continue to collect the free fivers!

mr_fishbulb

noh wrote: »

Halifax have not commented on what if anything will happen to those of us with 3 Reward accounts.
I'm sure we will find out in the fullness of time.
Meanwhile just continue to collect the free fivers!

Sounds good to me. Thanks