Halifax Overdraft New Charges

opinions4u

Superbiatch wrote: »

I was informed of this a few days back when I contacted Halifax as my employer had gone into administration and wages not gone in. They were completely useless and I had to scrape,steal and borrow from family just to cover my dd's due to go out.

What, precisely, did you expect them to do?

MDE wrote: »

More brackets would still give clarity- £100, £500, £1000 etc.

No. More brackets would confuse the hell out of people.

Imagine:

<£100 = 50p
>=£100 <£500 = £1
>=£500 <£1000 = £1.25
>=£1500 <£2000 = £1.50
>=£2000 <£2500 = £1.75
>-£2500 = £2

Simpler? Don't think so.

MarsdenCuckoo

Are the Halifax still offering a 0% interest on purchases deal on their Halifax One credit card? If so, one way to help reduce your overdraft would be to apply for one of those and use that for your purchases. Only breathing space but every little helps and all that!

Just a thought.

opinions4u

MarsdenCuckoo wrote: »

Are the Halifax still offering a 0% interest on purchases deal on their Halifax One credit card? If so, one way to help reduce your overdraft would be to apply for one of those and use that for your purchases. Only breathing space but every little helps and all that!

Just a thought.

A very logical thought too. 9 months interest free on both balance transfers AND purchases. Increases to 12 months for purchases (not BT) if you fund any current account with £1,000 a month.

A great way for the disciplined to get themselves out of overdraft and avoiding the fees. But those with less control over their finances should be careful not to increase their total debts by doing this.

YorkshireBoy

opinions4u wrote: »

A very logical thought too. 9 months interest free on both balance transfers AND purchases. Increases to 12 months for purchases (not BT) if you fund any current account with £1,000 a month.

A great way for the disciplined to get themselves out of overdraft and avoiding the fees. But those with less control over their finances should be careful not to increase their total debts by doing this.

I thought so when I suggested it to another poster yesterday...but then got my head bitten off!

BigAndy_79

Innocenti wrote: »

and now suddenly they are changing the rules and charging me £1 a day without any consultation.

Without any consultation ?!? This has been discussed for a while now, plus the letters are coming out two months before the new fee structure takes place...!

Glpark01

Imfuming, my oh has an overdraft from his student acc which was 1250 and they changed his acc to a current acc when he finished at uni, we agreed £30 a month to pay it off which was taking forever but they were only charging us about £17 interest a month, now it means we'll only be paying off interest and are in no situation to pay more, which means more than likely we're going to go over our overdraft now.

Hendrix_lennon

I got this letter through on Friday as well.

Can't say that I'm particularly happy about the way they've went about it but maybe it's the boot up the backside needed to get the overdraft paid off.

Pimpslider

Hendrix_lennon wrote: »

Can't say that I'm particularly happy about the way they've went about it but maybe it's the boot up the backside needed to get the overdraft paid off.

Agreed on that front dude. Just before Xmas and 2 months notice!! I am appalled by the charges and am clearing my OD's by getting a new loan to pay off my old loan and OD's, while still paying the same per month on the new loan as I was on my old loan.

It's swings and roundabouts I guess. At the end of the day you do have to pay off your OD at 'some point', and as you say...it's a boot up the backside.

Hendrix_lennon

Aye, point taken about the time of year they're doing it.

Although, I don't presume there's ever a good time of the year to have to repay that total - in my case £1000.

I'm probably going to try and shif direct debit dates to just before my pay day so if I do go into overdraft then it's only for a day or two.

Pimpslider

When you have 2 kids then trust me, Xmas is the worst time!

My 2 OD's total £2300. They haven't been increased for a few years but it's just hard to get rid of them. An extra £100 for a birthday, an extra £100 for a holiday...and so on and so forth.