Halifax new bank charges!!

morrimyson

HAS ANY ONE NOTICED FOLLOWING THE FAILURE OF THE HIGH COURT ACTION ON UN FAIR CHARGES .
HALIFAX NOT ONLY CHARGE YOU £35 FEE BUT FOR EVERY DAY YOU ARE OVER DRAWN THEY ADD A £1 AND £5 DAY CHARGE!! IF YOU EXCEED YOUR O/D LIMIT

WHEN IS THE OFFICE OF FAIR TRADING GOING TO CAMPAIN FOR PROPER CONTROL OF FEES?
TAX PAYERS BAIL THEM OUT AND THEY FIND NEW WAYS TO TAKE!!



:mad::mad::mad:

bakerlad1983

From what i knew its £1 a day if your in your overdraft and £5 for a fee if you go over that.

BoGoF

Another ill informed rant. HBOS advised of this change months ago giving you ample opportunity to shift your accounts elsewhere if you don't like it.

withnell

Also ill-informed is the £35 charge. If you go into unauthorised overdraft, you are charged £5 a day, with no other fees

opinions4u

morrimyson wrote: »

HAS ANY ONE NOTICED FOLLOWING THE FAILURE OF THE HIGH COURT ACTION ON UN FAIR CHARGES .

HALIFAX NOT ONLY CHARGE YOU £35 FEE BUT FOR EVERY DAY YOU ARE OVER DRAWN THEY ADD A £1 AND £5 DAY CHARGE!! IF YOU EXCEED YOUR O/D LIMIT

Have you got any ability to read their letters or web site? It isn't too difficult to do.

1) They no longer charge £35. That charge has been abolished.
2) The £1 charge is not applied for exceeding your limit. It is charged instead of interest if you are overdrawn within an agreed limit.
3) The £5 a day charge is for being outside your agreed limit. They will even send you a text message the same day to give you the chance to avoid this.

WHEN IS THE OFFICE OF FAIR TRADING GOING TO CAMPAIN FOR PROPER CONTROL OF FEES?

The new Halifax charging structure was brought in as a direct response to silly people complaining about the £35 fees. This is one of the results of such a campaign.

TAX PAYERS BAIL THEM OUT AND THEY FIND NEW WAYS TO TAKE!!

Well, they've replaced one method of charging with another. Do you think they should provide banking services without making a return for themselves?

If they did how the hell would they ever repay the taxpayer?

djpleasure

Another ill informed rant. HBOS advised of this change months ago giving you ample opportunity to shift your accounts elsewhere if you don't like it.

I for one only received a letter from Halifax advising of this change a few weeks ago! so have not had the time to change, who wants to make a change on top of christmas and risk things going wrong during the switch?

It is a rip off, banks were forced to cap their fees, this is their way of a work around. I have a £250pm arranged OD, often I use that, I dont even notice the interest charge it was that low. Now if I go 1 penny into my OD, it will cost a £1 a day, no cap, so if i go over for example 1st of month and pay no funds in until end of month, will cost me near on £30. 1000's are up in arms and quite rightly so. Yes the bank is nearly half public owned, yet it fleeces us. Some say well I borrowed the their money, i should pay, well the banks borrow your money, without your money there is no bank!

I am switching straight after xmas to Aliance and leicester, 50p per day, capped at a fiver at 10 days. Better still, they will take care of all aspects of the switch, from contacting all your direct debits and changing the info to contacting your employer to sort out wages.

The structure states on my account it is to make it easy for people to understand...rubbish it is to line their pockets further and help booost public debt.

Opinions4u, are you by any chance a Halifax Hbos employee or share holder?

Also ill-informed is the £35 charge. If you go into unauthorised overdraft, you are charged £5 a day, with no other fees

well £5 a day is helpful...not, think i would prefer the 35 if into overdraft for more than a week.

I agree banks have to make money, but this is extortion especially for very small overdrafts.

Think I am wrong?

people are switching in droves, search the net mass disgust. Hbos/Halifax etc have enough issues, can they afford to potential lose 1000's of customers?

opinions4u

djpleasure wrote: »

I for one only received a letter from Halifax advising of this change a few weeks ago!

The first press release about their intentions was December 2008.

so have not had the time to change, who wants to make a change on top of christmas and risk things going wrong during the switch?

I'd go for it if I was really disgruntled. What's Christmas got to do with it?

It is a rip off, banks were forced to cap their fees, this is their way of a work around.

It's a change in the charging structure intended to give them the same income they had before.

I have a £250pm arranged OD, often I use that, I dont even notice the interest charge it was that low. Now if I go 1 penny into my OD, it will cost a £1 a day

There is, apparently, a non-publicised £10 buffer zone. That said, don't be so stupid as to go 1p (or £10.01) overdrawn when you know what the charges are.

so if i go over for example 1st of month and pay no funds in until end of month, will cost me near on £30.

If you have a Reward account you will get £5 back if you fund your account with £1,000 a month - effectively 5 charge free overdraft days every month.

If you have an Ultimate Reward account there is a net cost of £7.50 a month but no overdraft fees within a £300 limit.

If you don't want to switch, you have choices with Halifax. Rant away if it pleases you, but why not take a few minutes to see how you can make things work better for you.

I am switching straight after xmas to Aliance and leicester, 50p per day, capped at a fiver at 10 days. Better still, they will take care of all aspects of the switch, from contacting all your direct debits and changing the info to contacting your employer to sort out wages.

I'd suggest you search out "Alliance & Leicester Complaints". It's fun!

The structure states on my account it is to make it easy for people to understand...rubbish

Is it not easy to understand?

Opinions4u, are you by any chance a Halifax Hbos employee or share holder?

I used to be a Halifax branch manager before pursuing a career in a different direction.

well £5 a day is helpful...not, think i would prefer the 35 if into overdraft for more than a week.

But they will text you to help you avoid the charge. Act on receipt of text message and save £5 a day.

I agree banks have to make money, but this is extortion especially for very small overdrafts.

Take your choice. Go elsewhere, find an alternative with Halifax that costs less or don't go overdrawn. I currently bag £20 a month in Rewards from them (lordy knows how Mrs o4u got our joint account moved over last week, but she did!).

people are switching in droves, search the net mass disgust. Hbos/Halifax etc have enough issues, can they afford to potential lose 1000's of customers?

Perhaps they can afford to lose high risk ones who go overdrawn and pay very little in interest.

BoGoF

Can't speak for ex Halifax customers but as ex BOS customer I received a letter from them months ago advising of the changes and offering other current accounts (such as the Reward). Even though surely a 'few weeks' is plenty enough time to sort out your switch to A&L - who are very good at making it seem seamless. But a few friends at work were tempted by the £50 to sign up - guess what, bounced DD all over the place.

It's a free market if you want to move then go for it, but sometimes better the devil you know !!

withnell

opinions4u wrote: »

Perhaps they can afford to lose high risk ones who go overdrawn and pay very little in interest.

Also someone who is habitually in their overdraft is unlikely to have any savings - because if they did, they should have moved them into the current account to offset the overdraft interest!

Halifax can make way more money from the savings accounts and investments that their "in credit" customers sign up for - the majority of people never shop around and just use their own bank

Anyone with 20k savings at 0.2% in the Halifax is makingf them a fair amount of money at no risk. An account that is habitually overdrawn is a high risk, and they are reducing the level of risk in their business - isn't that what the taxpayer wants?

Before you ask, I don't work for HBOS

PROLIANT

Stop complaining and move banks.

heppy23

I am currently not the best at managing my current account. I am happier paying £1 a day for using my overdraft and £5 a day for going over it than getting hit for up to £140 a day when they stop 4 direct debits.