newstyle charges ... bleed me again

Legacy_user

H b society has stopped bank charges of £35 per item if over arranged overdraft ,but now instead are charging £1.00 per day if you are in your overdraft up to £2,500. I now will be paying £31.00 a month for charges whilst I am within my overdraft.I will be charged £5.00 a day on top of that if each time I go over my arranged overdraft.

so I am livid, I have a £1,000 overdraft facility suggested as a good option at the time which was taken out 2 yeas ago...and have had to to do my best to stay within it, which I opened when I had a little equity from the sale of my house which was pittance after paying off a huge mortgage and separating from my husband who inflicted that whole mess in the first place.

I am now a single mother, juggling with children, a pt time job, and college . my income is low, my outgoings are no different to anyone else trying to afford the high fuel costs, phone and car fuel etc etc..now the bank is charging my £1.00 a day just by having a overdraft facility... its futile, we are existing, not living.
this is going to take a huge toll on my income, I am sick of this greedy country, no control over these fat cats who run it and the banks own make up rules and regs... where does all that money go, while I run around trying to make ends meet....i was charged £2000 in just over 1 1/2 years in bank charges, mainly because I just couldnt stretch to make ends meet long enough in my overdraft facility til my next income came in, which would have kept me on the straight and narrow if the charges were not so high at £35 a shot ...

as my ex husband took it upon himself to refuse paying me maintenence towards our children,s keep for 3 months ! it was not much from him, £200 a month between 3 children, and i never contested it, hes self employed and very well off... so i because of that I went over my overdraft by the end of the month , and it would be a few days before my income came in, but by then i incurred more charges... sometimes £105 in one go.this got to be a regular occurance as it took me ages to get my account back into credit each month due to hefty charges, round and round in circles. now this... so back to square 1.

the banks should be accountable for their clever little money making schemes that involve us paying the price for being in their company.I am going to see if I can look elsewhere to put my money.. under my bed? I do not like banks anymore.. how do I get out of this bank as I have a £1,000 overdraft which I am stuck in...got to raise £1,000 to get out of it I suppose, any help or suggestions would be so grateful!!

pingchris

elliemay099 wrote: »

H b society has stopped bank charges of £35 per item if over arranged overdraft ,but now instead are charging £1.00 per day if you are in your overdraft up to £2,500. I now will be paying £31.00 a month for charges whilst I am within my overdraft.I will be charged £5.00 a day on top of that if each time I go over my arranged overdraft.

so I am livid, I have a £1,000 overdraft facility suggested as a good option at the time which was taken out 2 yeas ago...and have had to to do my best to stay within it, which I opened when I had a little equity from the sale of my house which was pittance after paying off a huge mortgage and separating from my husband who inflicted that whole mess in the first place.

I am now a single mother, juggling with children, a pt time job, and college . my income is low, my outgoings are no different to anyone else trying to afford the high fuel costs, phone and car fuel etc etc..now the bank is charging my £1.00 a day just by having a overdraft facility... its futile, we are existing, not living.
this is going to take a huge toll on my income, I am sick of this greedy country, no control over these fat cats who run it and the banks own make up rules and regs... where does all that money go, while I run around trying to make ends meet....i was charged £2000 in just over 1 1/2 years in bank charges, mainly because I just couldnt stretch to make ends meet long enough in my overdraft facility til my next income came in, which would have kept me on the straight and narrow if the charges were not so high at £35 a shot ...

as my ex husband took it upon himself to refuse paying me maintenence towards our children,s keep for 3 months ! it was not much from him, £200 a month between 3 children, and i never contested it, hes self employed and very well off... so i because of that I went over my overdraft by the end of the month , and it would be a few days before my income came in, but by then i incurred more charges... sometimes £105 in one go.this got to be a regular occurance as it took me ages to get my account back into credit each month due to hefty charges, round and round in circles. now this... so back to square 1.

the banks should be accountable for their clever little money making schemes that involve us paying the price for being in their company.I am going to see if I can look elsewhere to put my money.. under my bed? I do not like banks anymore.. how do I get out of this bank as I have a £1,000 overdraft which I am stuck in...got to raise £1,000 to get out of it I suppose, any help or suggestions would be so grateful!!

i was in a similar situation to yourself,when the supreme court test case result came through i closed my current account with the halifax,they had already closed my direct debit acccount as they had charged me £150.00 in charges which they said took me overdrawn,i refused to pay them.

prior to me closing my last remaining account i opened a parachute account with a building society,there are no frills with the account just a place to put money when or if i get any,which is very rare,anyway i have found that although a little disruptive at first finding bank details and closest banks to me, i can pay all of my bills using the debtors bank rather than my own,i just get the appropriate account details and pay the cash to them at there bank. and get a receipt.

this may not be good for you though as you have children and maybe dont have the time to hunt around for different banks for your different debtors or bills that you need to pay,a lot of bills can also be paid at the post office,although this service with some companies is now unavailable,its been a few months now and have only had to use my building society account once to pay my rent although now i do this by putting the cash straight into there account at the company they bank with.

hope this helps you decide on the right way for you ...........

dunstonh

but now instead are charging £1.00 per day if you are in your overdraft up to £2,500. I now will be paying £31.00 a month for charges whilst I am within my overdraft.I will be charged £5.00 a day on top of that if each time I go over my arranged overdraft.

Which makes more sense than the old way. Its fairer in the way it is packaged.

I am now a single mother, juggling with children, a pt time job, and college . my income is low, my outgoings are no different to anyone else trying to afford the high fuel costs, phone and car fuel etc etc..now the bank is charging my £1.00 a day just by having a overdraft facility... its futile, we are existing, not living.

None of that is the concern of the bank though. They have their terms and you either accept them or you go elsewhere. Overdrafts are short term emergency funding and are priced as such. They are not designed to be used for long term funding.

Even if the banks had lost the court case, they would still be making charges. The charges would now be in line with these new methods. You shouldnt kid yourself that the banks are all evil here. Yes, they have a lot to answer for and they are highly flawed in some areas but at the end of the day, you are responsible for your budgeting. Not the bank. It doesn't matter if you are rich or poor.

I'm sorry your financial situation but you cannot blame the banks in your case. I suggest you take a look in the debt free wannabee section as they have some really good people in there who can help those that have financial problems like yourself. Focus on the problem rather than directing anger at the banks (which is just futile).

System

pingchris wrote: »

i was in a similar situation to yourself,when the supreme court test case result came through i closed my current account with the halifax,they had already closed my direct debit acccount as they had charged me £150.00 in charges which they said took me overdrawn,i refused to pay them.

Prior to me closing my last remaining account i opened a parachute account with a building society,there are no frills with the account just a place to put money when or if i get any,which is very rare,anyway i have found that although a little disruptive at first finding bank details and closest banks to me, i can pay all of my bills using the debtors bank rather than my own,i just get the appropriate account details and pay the cash to them at there bank. And get a receipt.

This may not be good for you though as you have children and maybe dont have the time to hunt around for different banks for your different debtors or bills that you need to pay,a lot of bills can also be paid at the post office,although this service with some companies is now unavailable,its been a few months now and have only had to use my building society account once to pay my rent although now i do this by putting the cash straight into there account at the company they bank with.

Hope this helps you decide on the right way for you ...........

many thanks for your help..

System

Thank you pinchris, thats helpful. Merry christmas !!