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

opinions4u

Yogicat wrote: »

Opinions 4U - Do you have shares in the Halifax??

No. I did, however, manage to turn a half decent value of HBOS shares in to a near-worthless pile of LBG shares.

My signature line tells you about a fairly recent former career.

I moved on, but with no ill-feeling. That former career gives me an understanding of many of the workings of the organisation and friends who, over the ocassional beverage, will fill me in on more recent goings on.

Hopefully those insights are helpful to readers of this forum.



By the way, in the preceding entry I did post:

If you genuinely can't make the account work for you and can get the necessary overdraft facility elsewhere then you should move your account elsewhere.

I firmly believe that's the right thing to do. I just think that many of the various posters expressing "outrage" and "disgust" could, with minor changes to the way they bank, do rather well out of Halifax/Bank of Scotland as a result of these changes. Not necessarily beneficial to shareholders, but certainly to themselves.

emweaver

jambosans wrote: »

Debit card transactions can come off at any point during the day. It has nothing to do with Halifax, the amount debits when the merchant's bank collects payment. Debit card transactions will normally pend against your account for a few days before debiting, meaning there is plenty of time to put money in and avoid the daily fee.

Im sorry but regardless of how much you defend Halifax the facts are simple before the change they took the payments out during the day not in the middle of the night. Your response is typical of what the call centre read to me. Do you work for Halifax?

Ive even checked my account as late as 11.50pm been in credit then the next morning at 11amish its shown as going overdrawn the previous day! :money:

emweaver

pebbles88 wrote: »

RB10.. may i just ask.. do you work for Halifax by any chance?

Not just him working for them on this thread :rolleyes:

Extant

emweaver wrote: »

Im sorry but regardless of how much you defend Halifax the facts are simple before the change they took the payments out during the day not in the middle of the night. Your response is typical of what the call centre read to me. Do you work for Halifax?

Ive even checked my account as late as 11.50pm been in credit then the next morning at 11amish its shown as going overdrawn the previous day! :money:

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.

Extant

emweaver wrote: »

Not just him working for them on this thread :rolleyes:

God forbid anyone not agree, they are clearly working for the Halifax!

Yogicat_2

To be honest, the Halifax have been a thorn in my side for far too long.

I did write to them on several occasions regarding Bank Statements (via recorded delivery), and junk mail (via recorded delivery) and not much changed.

After numurous complaints, I stared to receive the Statements, and the junk mail stopped. Now, recently the junk has started again.........a constant battle.

I don't have the "average" amount, or whatever it is per month, in fact nothing I do, really is "average", one size does not fit all in my case.

In my opinion, it's rather naive to think the new charges aren't to line their pockets, because ultimately, that will be the end result, but it's only my opinion.

I don't actually have experience of working in a Bank or Financial Institution, but I am passionate about Customer Service/Customer Retention!

Yogicat..............voice of the people!!

opinions4u

emweaver wrote: »

Not just him working for them on this thread :rolleyes:

Is that a problem though?

People explaining how to best use the account to your own financial benefit from "inside" an organisation is surely more use than ill-informed hysterics.

Yogicat wrote: »

Now, recently the junk has started again.........a constant battle.

Same sort of products, or a subsidiary? Something has gone wrong if it's mainstream stuff.

I don't have the "average" amount, or whatever it is per month, in fact nothing I do, really is "average", one size does not fit all in my case.

I used average to make a point. Multiply it by 10 to £12k and you're losing 80p a month.

In my opinion, it's rather naive to think the new charges aren't to line their pockets, because ultimately, that will be the end result, but it's only my opinion.

The loss of the £35 and £28 fees, together with the £5 Reward payments was, when offset against £1/£2/£5 daily overdraft fees not designed to generate more income. The plan was genuinely cost neutral.

Whether their trial with former Moneyback customers has changed that model or not, I have no idea.

Extant

Yogicat wrote: »

In my opinion, it's rather naive to think the new charges aren't to line their pockets, because ultimately, that will be the end result, but it's only my opinion.

Of course they are; they're a business and will be run as such.

The proponents in this thread are merely stating that their charges are neither excessive nor the "end of the world" - they can be reasonably countered in a number of ways.

jambosans

emweaver wrote: »

Im sorry but regardless of how much you defend Halifax the facts are simple before the change they took the payments out during the day not in the middle of the night. Your response is typical of what the call centre read to me. Do you work for Halifax?

You are deliberately avoiding what I have answered, to somehow contrive that Halifax are behind some big conspiracy to get you to pay a £1 daily fee. You don't have to work for Halifax to know how debit card payments work. Halifax took nothing, the merchant settled the payment from the authorisation hold.

Like Extant said, if you think Halifax are deliberately deducting payments to merchants late at around 11:30pm, but not showing them till the next day, then pre-dating them, all to ensure they pocket £1, put on your tinfoil hat, and complain.

This thread has become thwart with people like you, who, instead of providing a good counter-argument, insinuate those with a differing opinion of working for Halifax. I would also add, that those you see as "pro-change" have, in bulk, been providing positive suggestions to avoid the least impact from the changes. What's your contribution been? Aside from banging your head off a wall about the changes and posting false information.

Yogicat_2

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

For those of us whom have had a stormy relationship with the Halifax, this is the perfect time to jump ship, nothing like the fear of extra charges to put the wind up some people!

£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!

I think something similar happened with the Darford Crossing??

Get out whilst you can!!

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