HBOS new bank charges for use of OD

mobeyone_2

Well, got my new statement with the new "customer friendly" charges.

My charges have doubled... and from what I hear thats the same for most customers who do use their accounts within the terms and conditions but live in their overdraft MOM, seems to me that they are penalising the masses for those who do incur charges to compensate for the loss in revenue..

Is this treating customers fairly?

Nice way on treating customers... HBOS are the worst.

cifpower

http://forums.moneysavingexpert.com/showthread.html?t=2023523

noh

mobeyone wrote: »

Well, got my new statement with the new "customer friendly" charges.

My charges have doubled... and from what I hear thats the same for most customers who do use their accounts within the terms and conditions but live in their overdraft MOM, seems to me that they are penalising the masses for those who do incur charges to compensate for the loss in revenue..

Is this treating customers fairly?

Nice way on treating customers... HBOS are the worst.

The new charging structure doesn't start until 6th December.
So you wont see a statement with the new charges yet.

mobeyone_2

Already applicable if you are a reward customer.

noh

mobeyone wrote: »

Already applicable if you are a reward customer.

Yes but these charges have been in effect on the Reward accounts since their inception in February. So, if you already have a Reward account, there has been no change in the way you are being charged.

If you conducted your Reward account in the same way this month as you did last, or for that matter any other previous month, there will be no difference in charges.

mobeyone_2

Sorry, I should clarify. I moved my account from the basic current account to a reward account based on advice from customer services.. saying I would benefit from the £5 reward with my monthly deposits... So I changed at the end of September... but as I am using my overdraft, I am going to pay for the privilege of it now...

Thought I should add that I do not incur bank charges.

opinions4u

mobeyone wrote: »

Sorry, I should clarify. I moved my account from the basic current account to a reward account based on advice from customer services.. saying I would benefit from the £5 reward with my monthly deposits... So I changed at the end of September... but as I am using my overdraft, I am going to pay for the privilege of it now...

Thought I should add that I do not incur bank charges.

Well the overdraft charges were as clear as day at the point in time that you changed over to the Reward account.

So what you're effectively saying is that you didn't read the literature posted and you're now complaining that they are applying charges as explained very clearly within that literature and on their web site.

Shocking treatment. I cannot believe how the big bad bank can have the cheek to charge people in accordance with their published tariff. What would happen if other retailers started behaving in such an outrageous way as to charge the customer the price on the price tag?

mobeyone_2

opinions4u wrote: »

Well the overdraft charges were as clear as day at the point in time that you changed over to the Reward account.

So what you're effectively saying is that you didn't read the literature posted and you're now complaining that they are applying charges as explained very clearly within that literature and on their web site.

Shocking treatment. I cannot believe how the big bad bank can have the cheek to charge people in accordance with their published tariff. What would happen if other retailers started behaving in such an outrageous way as to charge the customer the price on the price tag?

Thats not the issue here, its the the way the bank is changing its charges to counter a loss in revenue on the back of the judgment which is due to be made next week. The way the bank is now penalising those who do manage thier accounts but sadly use their overdraft and if they do not have the funds available will find themselves considerably out of pocket while the bank stands to profit.

Might be an idea to take your sarcasm and shove it up your ar 5e? god knows what else you may find up there. :cool:

[Deleted User]

Just a point, but as Martin said in the Moneysaving Live DVD... your bank isn't there to work for you - it's there to make money.

I know it's mean, but that's the system - it's our job as consumers to make the system work best for us.

If you don't like HBOS's new OD charges, vote with your feet.

Lokolo

mobeyone wrote: »

Thats not the issue here, its the the way the bank is changing its charges to counter a loss in revenue on the back of the judgment which is due to be made next week. The way the bank is now penalising those who do manage thier accounts but sadly use their overdraft and if they do not have the funds available will find themselves considerably out of pocket while the bank stands to profit.

Might be an idea to take your sarcasm and shove it up your ar 5e? god knows what else you may find up there. :cool:

The bold bit is just a contracting statement. Those who manage their accounts well will never use an overdraft.

If people are stupid enough to not look after their money thats their own fault.

Good for the banks. They have never charged me a thing and never profitted from me. Why? 'Cause I look after my money.

opinions4u

mobeyone wrote: »

Might be an idea to take your sarcasm and shove it up your ar 5e? god knows what else you may find up there. :cool:

Come off it.

The point here is that somebody with a basic bank account (probably for good reason) wanted a full banking facility.

As soon as they got that full facility they got carried away, went overdrawn, and now object to paying the published tariff for it.

Their own fault.

If you think that's sarcastic, I'll let you look where I shoved it.