When did it become normal to have an overdraft

oxenryd

gfplux wrote: »

May I ask:-
Does everyone check there statements every month line by line?

Yes (Well actually no, I check my online banking daily)

gfplux wrote: »

and
Who makes these errors you, the utility or the Bank.

I can honestly it's the bank, have never ever had a bank charge, my biggest issue is standing orders being sent twice ( and no not on the first payment, it just happens randomly)

melancholly

i certainly check online banking once a week minimum!

i've had errors with work paying late and having other outgoings that couldn't be shifted (little things like rent!). so not my fault and not the bank's fault either, just work! occasionally i've paid by cheque and not checked the money had gone out, then 6 weeks later it had and i had kind of spent the money twice. so my fault - hence i check online banking far more often these days!

Oldernotwiser

bingy_burge wrote: »

Over the last 20-30 years people stopped living within there means and we (ie 20-30's) have been encourraged to 'buy now pay later' you see it on telly various furniture companies etc. In the boom years we have had til last year credit was rife people could borrow alot of the time more than they could afford.

Those of us who were around in the 70s will remember a time when inflation averaged 13% and peaked at 25%, making it virtually impossible to save for what you wanted.

I think that the legacy of this period has affected what many people of my generation feel about borrowing to buy something rather than saving up for it.

LeeSouthEast

I check online banking daily on average (but no less than every two days at a push), and then check my paper statements line by line when they arrive as well. It is my money, and I want to make sure it has gone to who I intend, for how much I intended, when I intended it to, and that nothing funny is going on.

lynzpower

Lokolo wrote: »

A lot better of as they would have to learn the value of money.

:rolleyes:

Youve not thought this one through :rolleyes:

You get the debt to live on for 3 years.

You finish full time uni, get full time work, pay it back

You cant really feel the value of it, till it gets paid back

Listen, the vast majority of people in the UK wants our young people who go to university to start thier lives with 30ks worth of debt.- there is no outcry from the public about this, and both parties think higher student debt is something we should be doing. ( increasing fees again for example)

When I went to university I opened a bank account ( I onl had a childs one with no card etc before) it came with a 1k overdraft and a credit card from Barclaycard.

I believe ODs became normalised well before I went to university in 96.

blueberrypie

melancholly wrote: »

i certainly check online banking once a week minimum!

I have accounts with quite a few different banks. I don't log into all of them regularly, but I use Account Unity and do check that every day, so I can see the balances on all of them, and so I'd be aware of anything unexpected. I also keep track of my accounts using MoneyDance, so I always know what's due to go in/out and when.

I do have authorised overdrafts on a couple of accounts, but don't use them. I do use credit cards, but these are paid off in full every month (except for the one that's on a 0% deal).

My household income is not high, but it's carefully managed.

agsnu

oxenryd wrote: »

It's not that I have no idea what I'm talking about, I just have a different view/experience/circumstances to yours, as you said yourself. I never said my opinion is the right one, it's just mine.

Actually, you made a rash generalisation about how other people should behave without consideration for the above. That's not the same thing at all.