Halifax £1 per day charge for using authorised overdraft? Will others follow?

jambosans

Yogicat wrote: »

It's not cost neutral in my case, as I have never used an Overdraft!

This does not make sense, as I don't think you have understood what opinions4u was referring to as "cost neutral".

Yogicat wrote: »

£1 charge per day for an Overdraft can easily be increased to £2 per day, then £3 per day, like all great ideas, they have to start somewhere!

Not without two months notice.

Yogicat wrote: »

Get out whilst you can!!

I'm quite happy not use my overdraft, pocket £60 per year tax free, and stick with my Bank of Scotland Reward Current Account.

emweaver

Extant wrote: »

If you genuinely believe that is what they're doing, complain.

Or better yet, get some sort of specifics: ask for the exact time the entry was posted to your account. They should be able to tell you that. If that time is before you last checked, raise it with them.

What you're accusing them of is fairly serious, after all.

I did complain and was just told they do not control what time the companys request the money blah blah which I know is true but they talked around my complaint

emweaver

I am unsubscribing from this thread as I see it turning nasty with pompass trolls pulling threads apart to make themselves feel big

Extant

emweaver wrote: »

I did complain and was just told they do not control what time the companys request the money blah blah which I know is true but they talked around my complaint

What do you want them to do? Call you at 11.58 at the odd occasion that they receive a debit request at that point? Well, not the odd occasion - that's when batch processes run. It's to spread workload.

The realistic solution, rather than to accuse them of something through your own paranoia is to remember what you've spent and ensure the account is adequately funded... surely?

Extant

emweaver wrote: »

I am unsubscribing from this thread as I see it turning nasty with pompass trolls pulling threads apart to make themselves feel big

It's not turning nasty at all. There's some intelligent and well written posts from the like of opinions4u and jambosans. None of them are vindictive or in any way a personal attack. That said, you apparently cannot keep pace with them. And that's fine, but don't accuse them of being "pompous trolls" out to "make themselves feel big" just because you disagree/can't refute their arguments.

jambosans

emweaver wrote: »

I am unsubscribing from this thread as I see it turning nasty with pompass trolls pulling threads apart to make themselves feel big

That is the second time I have been accused of being a troll on this thread.

Seeing as I'm starting to misunderstand the meaning I have consulted Wikipedia:-

In Internet slang, a troll is someone who posts controversial, inflammatory, irrelevant or off-topic messages in an online community, such as an online discussion forum, chat room or blog, with the primary intent of provoking other users into an emotional response[1] or of otherwise disrupting normal on-topic discussion.

I've kept pretty much on topic throughout this entire thread, except when responding directly to those who "have a go" at me. Perhaps you are a troll for accusing me of working for Halifax in the hope of provoking an emotional response.

Let's keep things in perspective, I'm responding directly to points made by other posters, and with no ill-feeling I may come across as curt and sarcastic - this is generally reserved for those who use the same pleasantries in their posts.

Edit: I do realise that as a result of this post I have taken this thread off topic, for which I apologise, but I will not be accused of being a troll by someone who clearly does not know the meaning of the word.

overworked

Just thought I'd make a few of you aware of a few things that may help:

1) If you have multiple accounts with overdrafts, then you have the option to 'place' them all on the one account thus avoiding multiple daily charges across all account, and

2) You can complete a balance transfer from a Halifax or BoS credit card to your current account to pay off the overdraft - N.B, normal BT rules apply and the transfer will be charged at your purchase APR.

I've been off work most of this week, so I'll check for any updates on Monday

Yogicat_2

I have never taken/borrowed from the Halifax, only given them my money!

(for them to invest and make a profit on!!)

If, by accident I had to use the Overdraft, I would incur this £1 per day charge.

Not a good deal for me really, nothing like fear of extra charges to send people marching off elsewhere, thin end of the wedge!


Yogicat......................only my opinion

overworked

I've just took the time to read a few posts, and thought I'd let you know a few bits of info regarding the accounts as they currently stand ahead of the new Simple Banking Initiative (Dec)

-The average monthly net credit interest is £0.33
-57% of customers never use an overdraft.
-80% of customers are never overdrawn by more than £300.
-73% of customers are never overdrawn for more than 5 days per month.
-3% of customers have overdrafts over £2,500.
-18% of overdraft users have incurred fees in the last 6 months.
-21% of customers have savings with Halifax or BoS that they could use to repay their overdraft.

Extant

Or you could just budget so as to avoid it and take the £5 reward, which will outweigh any cost from accidental usage. I'm assuming that having an accident means you'd fix it quick enough; even two days leaves you £3 up on the deal. More than you're likely to get elsewhere.

What's that English saying? Cutting your nose off despite your face? I don't know, it doesn't make any sense to me. But I think that's the phrase I want.