Please help test new 'compare bank charges' tool

Former_MSE_Wendy

There's just so much for us to mention, things get put back sometimes. Don't worry they are both still on the cards.

And we're just checking something with Natwest, it's not 100% there yet.

natweststaffmember

MSE_Wendy wrote: »

There's just so much for us to mention, things get put back sometimes. Don't worry they are both still on the cards.

And we're just checking something with Natwest, it's not 100% there yet.

Don't know why you don't ask me cos their press office has been known to be wrong but I have generally never been wrong on charges

Wendy, if you need a hand you know where to find me

Former_MSE_Wendy

natweststaffmember wrote: »

Wendy, if you need a hand you know where to find me

Thanks

It's actually the code of our calcluator that we're checking at the mo.

I'll post here again when it's done for you to retest if that's ok.

Former_MSE_Wendy

All changes made if anyone fancies another quick test. Thanks all

willo65

looking Good, just to mention with Natwest if I put 2 days o/d with 22 Paid items then it gives £70 charge but as paid referral capped to 1 per day then should be £50 also looking at natwest guide to fees and interest £15 buffer only covers paid referral fees and if o/d by £10 a £20 maintenance fee would still apply but your system brings up £0

Former_MSE_Wendy

thanks willo. i've just tested 2 days and 22 transactions and get £50. Have you got the % of transactions that bounce set to 0?

willo65

MSE_Wendy wrote: »

thanks willo. i've just tested 2 days and 22 transactions and get £50. Have you got the % of transactions that bounce set to 0?

Ooops, yes did work not sure what i had wrong. sorry

Alpine_Star

MSE_Wendy wrote: »

Hi all

We'd be really grateful if you could take a look and let us know what you think of our new 'Bank Charges Compared' tool (it's to tell you how much you'd get in bank charges from each of the main banks in a range of circumstances).


The plan is to get this out in the weekly email next week so any comments much appreciated

This is a very useful and topical excercise.

Further to the OFT press release on the implementation of the PCA Market Study findings the OFT recently made a presentation briefing to the industry detailing the banks obligations. The briefing summary document, obtained by Legal Beagles, included a requirement for each bank to publish 7 scenarios for going into unauthorised overdraft for each of their PCA products in order that consumers can compare the real cost of unauthorised overdraft charges in various circumstances.

Although the details of the scenarios are yet to be published they will be made publicly available, updated on any change to terms & conditions and introduced by Q2 2010.