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

emweaver

oh and also a little remind for those about this new structure be warned Halifax are now taking payments out of your account right at the end of the day not allowing you chance to put the money in to avoid the £1 fee

Ive noticed this a lot recently. I always check my account before bed at 11.30pm ish and im not overdrawn log in next day and it shows me as going overdrawn the previous day meaning a £1 charge! they never used to do this before introducing this charge.

hooley_mooley

We got the lovely letter. We've been put in a right mess now ta halifax. (yeah, I know, our own fault blah blah, I accept that).
And yes, the thing that annoyed us the most was the way it was worded as if making out they were doing us a favour!
We're taking our banking elsewhere now cuz its just the icing on the halifax's very own cake. they get it and eat it! lol

jambosans

snibbles wrote: »

I am new to this forum and whilst your opinions seem informed to me and 'curt' as you like to put it you come across as smug and have managed to put me off spending much time here to be honest.

I will mourn the loss of your valued opinion.

snibbles wrote: »

Whaaaaaaaaat????!!! We have a joint account with them too. Shall be taking that elsewhere as well.

The above was said in response to a poster claiming joint parties will pay double the fee. This comment was made after, said statement being pointed out as incorrect, not once, not twice, not three times, but four times within a three page thread. Yet you still managed to read all of my replies and tell me I'm smug, ha. :rolleyes:

jambosans

emweaver wrote: »

oh and also a little remind for those about this new structure be warned Halifax are now taking payments out of your account right at the end of the day not allowing you chance to put the money in to avoid the £1 fee

Ive noticed this a lot recently. I always check my account before bed at 11.30pm ish and im not overdrawn log in next day and it shows me as going overdrawn the previous day meaning a £1 charge! they never used to do this before introducing this charge.

I'm not sure what you mean? You have until the end of the day to credit the account to avoid daily fees, as opposed to the current system where crediting funds on the same day will not avoid all charges. Halifax have not changed when they take debits, it is still in the wee hours of the morning, unless you're referring to internal debits?

undercover_angel

I've logged on especially to read up about this too. I received the letter yesterday and to be honest, I'm not best pleased. I'm another one who doesn't really use my overdraft very often, although September/October are bad months for us with a lot extra expenditure so both my partner and I both use our overdrafts during these months so under the new charges we would have some major £££ to pay.

I think what is annoying me the most is that I didn't have an overdraft at all, they "sold" me the facility under the previous interest charges and now once I've become used to having my overdraft and using it as my safety net when times are tough (my partner works for an agency) they're putting the prices up by such a large amount.

I don't know what we're going to do yet, I do think I will look into different accounts as for me it's more the principal of the issue. I'm not sure...but I agree with the pp who said that a lot of people will leave after this, I think they will too.

rb10

undercover_angel wrote: »

I've logged on especially to read up about this too. I received the letter yesterday and to be honest, I'm not best pleased. I'm another one who doesn't really use my overdraft very often, although September/October are bad months for us with a lot extra expenditure so both my partner and I both use our overdrafts during these months so under the new charges we would have some major £££ to pay.

I think what is annoying me the most is that I didn't have an overdraft at all, they "sold" me the facility under the previous interest charges and now once I've become used to having my overdraft and using it as my safety net when times are tough (my partner works for an agency) they're putting the prices up by such a large amount.

I don't know what we're going to do yet, I do think I will look into different accounts as for me it's more the principal of the issue. I'm not sure...but I agree with the pp who said that a lot of people will leave after this, I think they will too.

You need to factor in the £5 reward as well. That's £60 over the year (after tax), effectively meaning that you can be overdrawn for 60 days in the year for no net cost to yourself.

XXXX

rb10 wrote: »

You need to factor in the £5 reward as well. That's £60 over the year (after tax), effectively meaning that you can be overdrawn for 60 days in the year for no net cost to yourself.

Exactly, and there is no requirement that how much balance you need to keep in the account, as long as not in red. Well you lot are smart enough to get the full picture.

This account suits me well, as I hardly get overdrawn. Once I got over almost £10K for one day and charged £2 for it, it was covered by the £5 credit I received in that month. With other banks, I would have got charged for £25-£35 instantly as happened many times in the past.

The worst offender was A&L, they charged fees even when credit was received from another A&L saving account on the same day before the debit. :mad: HSBC is better as they do not usually charge fees if the overdraw is paid back the same day. :rolleyes:

emweaver

jambosans wrote: »

I'm not sure what you mean? You have until the end of the day to credit the account to avoid daily fees, as opposed to the current system where crediting funds on the same day will not avoid all charges. Halifax have not changed when they take debits, it is still in the wee hours of the morning, unless you're referring to internal debits?

So taking the funds in early hours would explain why the transactions arent showing on my account 11.30pm that day. But to take them out early hours of the next day then show them as being debited the previous day isnt fair as it doesnt give you chance to transfer money in to avoid the charge.

emweaver

I also want to add before the changed this my account was a moneyback account where I earned 1% of my spending so I was getting about £120 a year now they expect me to be happy with £60 a year then taking about £70 back off me! my charges before was only £5 - £10 a year if that. thats better for me is it?

the halifax have poor poor attitude to customers and the numerous problems ive had with them (allowing cheques to clear after theyve been cancelled etc) i only staid with them for the 1% but now its costing me Im not staying.

jambosans

emweaver wrote: »

So taking the funds in early hours would explain why the transactions arent showing on my account 11.30pm that day. But to take them out early hours of the next day then show them as being debited the previous day isnt fair as it doesnt give you chance to transfer money in to avoid the charge.

You haven't actually answered my question, what do you mean? Are you saying that Halifax are pre-dating Direct Debits? What type of transactions are you referring to?