Please help test new 'compare bank charges' tool

gismo1554

Think this is a very niffty tool!

natweststaffmember

MSE_Wendy wrote: »

thanks for all your comments guys. you may have noticed this didn't go in the email in the end so there's more time to look at all of your comments.

are some of the glitches being worked on? When can we re test it(for some of us who have spotted the glitches?)

postie_bear

seemed to work ok for me but havenever had bank charges so not sure how correct they are

Former_MSE_Wendy

latest version now up if you fancy a spot more testing

mattwallisuk

If you set 31 days, £1000 and start at 0 payments beyond limit, Lloyds is £215 fee... start to increase payments beyond limit and when you hit 10 Lloyds gets CHEAPER?

pippitypip_2

seems to work fine for Alliance and Leicester - correct whatever variant I set to.

Thanks and great tool!

pippitypip

Former_MSE_Alana

Hi mattwallisuk,

Yes that is correct, we have had to assume that the overdraft amount is divided equally over each of the transactions. Lloyds have tiered charges, so when you keep the overdraft amount the same and increase the number of transactions, the average transaction amount drops down to a lower tier (there is also a max of 10 of these charges per month).

We have added the assumptions we have had to make, you can see them all by clicking on any of the banks names.

Alana

freelancemermaid

feature seemed to work for me (and i'm a mac user, using safari, not internet explorer!).

i rarely go overdrawn, but results seemed rather high for my alliance & leics account, about right for my lloyds account

Former_MSE_Wendy

That's right MCR. It uses these charges - £20 Monthly fee PLUS £15 daily fee for paid items (max 6 per month) or £5 unpaid item fee (max 10 per month).

The final slide is for paid / unapid items - so 100% would lead to the £5 item fee.

willo65

couple of problems with the Natwest one, 1 payment beyond limit of £10 would generate £20 your system says £0 also if your 1 payment beyond limit at £20 it you would have £35 in charges but your system says £110. Finally 0 payments beyond limit ie interest took you o/d you would get £20 charge your sys still says £110.

Just one more 28 days, £31 and 5 bounced d/d's = £45 your sys says £70.

Think still needs a lot of work but a good idea