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

catch22

comedykev wrote: »

as a new user I cant post links but there is a petition on

http:

//petitions.

number10.gov.uk

/halifaxcharges/

http://petitions.number10.gov.uk/halifaxcharges/

marcharrison1979

Simple answer is just to shift banks, let's all move from halifax and pay our wages in elswhere. I really hope the bank goes to the wall for this, it's outrageous that they can charge someone who is £1 into their overdraft the same as someone who is £2499.99 and the fact that they done this just smaks of being a spoilt brat who has had it far too easy for far too long and now because they've had their bums spanked for being naughty, they have well and truely spat their dummy out and have bitten the hand that feeds them. Let's show them who's boss and move our money elswhere, if we do it in significant numbers they'll be sorry. They have handed out these overdraft facilities in such a free and easy manner, in a way which influences the consumer to feel at ease and worry free about it, increasing pretty much every single customers overdraft limit like it means nothing and wont harm you to take advantage of it. And for them to turn around 4 weeks later and say sorry it's gonna cost you £1 or £2 quid a day from now on and sorry we can't take you're overdraft back to it's original limit because you are in debt! they are no better than drug dealers who push they're product at a cheap rate to get people hooked, then increase the cost once they become addicted. You scumbags, I hope you all burn in hell.

apt

I feel sorry for those Halifax current account holders who are in genuine financial difficulty, but not for those who just can't be bothered to run their finances properly. The Reward account gives you £60 tax-free each year. So even those who do not want to keep a close track on their current account can easily stick a float of a few hundred pounds in their account to avoid any risk of charges and would still be getting a very good deal overall from the Halifax.

Angieboo_2

I'm yet to receive my letter on this but am already in a panic. I budget now and do not spend more than I bring in but I am not making a dent on my overdraft and am currently in the overdraft most of the month. I can't afford £30 a month for something I previously paid £9 a month for, I just don't know what options I've got. Do I pay the overdraft 0% off my credit card, so at least I am paying the amount off? I'm very new to all this and just am struggling to see what options I have.

Extant

marcharrison1979 wrote: »

Simple answer is just to shift banks, let's all move from halifax and pay our wages in elswhere. I really hope the bank goes to the wall for this, it's outrageous that they can charge someone who is £1 into their overdraft the same as someone who is £2499.99 and the fact that they done this just smaks of being a spoilt brat who has had it far too easy for far too long and now because they've had their bums spanked for being naughty, they have well and truely spat their dummy out and have bitten the hand that feeds them. Let's show them who's boss and move our money elswhere, if we do it in significant numbers they'll be sorry. They have handed out these overdraft facilities in such a free and easy manner, in a way which influences the consumer to feel at ease and worry free about it, increasing pretty much every single customers overdraft limit like it means nothing and wont harm you to take advantage of it. And for them to turn around 4 weeks later and say sorry it's gonna cost you £1 or £2 quid a day from now on and sorry we can't take you're overdraft back to it's original limit because you are in debt! they are no better than drug dealers who push they're product at a cheap rate to get people hooked, then increase the cost once they become addicted. You scumbags, I hope you all burn in hell.

1) The number of overdrawn people is nowhere near enough to cause them to "go to the wall."
2) The percentage of said people who will bother to change - even less so.
3) Bank turn over is pretty stable - the number of people who leave from this will easily be replaced, if not surpassed, by the people coming for the £5 reward, etc.

kriss_boy

apt wrote: »

I feel sorry for those Halifax current account holders who are in genuine financial difficulty, but not for those who just can't be bothered to run their finances properly.

I cant work out whether or not you are simply bored and attempting to antagonise people or you are just that ignorant.

jambosans

kriss_boy wrote: »

I choose to live in my overdraft for my own reasons and luckily I can move out of it before these fees are enforced but there after what incentive is there to stick around?

£5 net payment per month for simply funding £1000 or more per month.

supersavor

jambosans wrote: »

Changes like these are not conceived within the space of a year. Considering the Reward Current Account (which currently has this fee structure) was launched in February, suggests these changes have been in planning for at least a year previous. So I disagree with that argument, purely down to the timescales - i.e. HBOS's near collapse was too recent.

correct , i work for halifax and when we were told of the reward account before xmas last year we were told they had spent some years working on it focus groups and so much customer feedback.

But people jumping on the we saved the bank don't seem to realise this is part of retail banking that part of the company is/was very successful it made high profits it was corporate side of the business that failed.

to be honest i speak to people about this change every day and there will be a lot of people who will benefit from it as a small percentage of the customer base stay in the overdraft for more than five days a month.

however i really do feel that will be hard on some people and hopefully they will be able to sort things out .Unfortunatley its not a great time of the year to do this.

Yogicat_2

I'm not sure there is enough new people that wish to take up the £5 reward, set against the people whom will leave because of the Overdraft Charges & Branch Closures?

Generally, it is always more cost effective to try to keep your existing customer base, than to find new ones, especially with so much bad press!

Will the Halifax still be here in 5 years time............not if it carries on like this!


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

noh

supersavor wrote: »

............correct , i work for halifax and when we were told of the reward account before xmas last year we were told they had spent some years working on it focus groups and so much customer feedback.............

And the BBC carried the story at the same time
http://news.bbc.co.uk/1/hi/business/7780551.stm

The new charging structure is hardly a surprise seeing as its been known publicly for at least 10 months.