Been charged £22 for being £1.90 overdrawn for 1 day, what can I do.

Wobblydeb

I would put it in writing (harder to ignore stuff in black and white) and CALCULATE THE PERCENTAGE INTEREST the charge represents.

I did this and got a charge refunded recently by HSBC.

xyz123

Paulpuds wrote: »

Again I did not sign up , and I bet you have never been unemployed either have you!

are you saying that you didnt sign up to the terms and conditions of the account?

dont get me wrong, i understand that it may be difficult for some people go manage their finanaces especially when they have lost a job but at the end of the day if you sign up that you will pay £x per day for going overdrawn then be prepared to pay for it even if you have overdrawn by £1.

thankfully i havent been unemployed but my OH is and we have enough savings to cover ourselves. it's called saving for a rainy day !

Olipro

Paulpuds wrote: »

Again I did not sign up , and I bet you have never been unemployed either have you!

you signed an agreement with the bank when you opened the account, they are legally entitled to make this charge.

morally speaking however, clearly £21 is unrepresentative of the actual loss to them and therefore it's not a resonable charge to make, if you threaten to take it to the Financial Ombudsman you will very likely get it back since the amount is much less then the Ombudsman case will cost them regardless of the outcome.

jonesMUFCforever

Olipro wrote: »

you signed an agreement with the bank when you opened the account, they are legally entitled to make this charge.

morally speaking however, clearly £21 is unrepresentative of the actual loss to them .

What loss? The charge is for you breaking a term of a contract you signed up for.
If you do not like the terms ask for an account with a cashpoint card only with no direct debits or standing orders.
You will then not get charged.

LeeSouthEast

Everyone was opted in to Reserve last year. You were given the option to opt out in a statement message and a letter sent about it separately.

They will not refund these any more, from what I've seen recently on here.

bengalknights

the op states that they did not want the reserve setup, as i also bank with Barclays i am suprised the op didnt get a letter through the post originally saying it would be setup but to contact the customer services or branch to have this facilty removed if they did not want it.

Also as its the reserve then this would mean that the op has also exceeded the overdraft limit so i would say this charge is actually quite fair.

getmore4less

Get the reserve taken off and pay the alternative charges for unauthorised transactions.

http://www.bank.barclays.co.uk/Helpsupport/Accountsandservicesratesandcharges/P1242557964194

see the PDF for details

Sgt_Oddball

Previous posters ignore the fact that the personal reserve was introduced last year on an 'opt-out' basis. Call me cynical but I am sure the bank knew full well most people would not actively stop this feature.

So, for most people, it simply isn't a case of 'this is what you signed up for so tough" etc. It was a change to the T & C's instigated by the bank. Also, previously, you were given a £5 leeway (into the unauthorised O/D) which has now been removed.

I wonder how much extra this is earning for the bank?

I suggest you try and get the money back but the best option is to move bank. I have just transferred to First Direct and Nationwide from Barclays and have no regrets.

Lokolo

Sgt_Oddball wrote: »

Previous posters ignore the fact that the personal reserve was introduced last year on an 'opt-out' basis. Call me cynical but I am sure the bank knew full well most people would not actively stop this feature.

So, for most people, it simply isn't a case of 'this is what you signed up for so tough" etc. It was a change to the T & C's instigated by the bank. Also, previously, you were given a £5 leeway (into the unauthorised O/D) which has now been removed.

I wonder how much extra this is earning for the bank?

I suggest you try and get the money back but the best option is to move bank. I have just transferred to First Direct and Nationwide from Barclays and have no regrets.

Which you can not agree to buy cancelling the product you have. They don't make the changes and tell you after. They inform you before hand and give you the choice. If the customer doesn't like it and doesn't do anything about it, its their fault.

focae

pjjafc wrote: »

"just pay it and move on" is not advice the OP was asking for

I get it...........this is now known as the 'only post a reply if you are nice to the OP and don't offer any criticism whatsoever' forum.

Again I did not sign up , and I bet you have never been unemployed either have you!

The throwaway comments aren't really necessary are they.........I suspect there are more than a few of us here that have been in that predicament on more than one occasion throughout our working lives. Incidentally, you will have signed their T&C's when you opened the account and there will be a clause in there that says you will have been deemed to accept any changes if they don't here from you when they tell you about changes.

To go back a bit, I suspect the original replies were absolutely sincere. They were suggesting you put it down to experience and learn from it - don't exceed your overdraft limit.

You are on a sticky wicket with the 1000% interest argument as the charge is just that - a charge and not interest. It doesn't matter whether you exceed your limit by £100 or 1p - you exceeded your limit.

I suggest you try again to get the charge refunded, if you don't succeed then move to a different bank if you feel that strongly. Just don't be surprised when you get charged for exceeding your overdraft limit at your next bank, because guess what..................they will all charge you.