Hundred pound charge for going ten pounds over?

Piggy-pack

Hi,

I went overdrawn in my second account by ten pounds two months ago (The account I hardly ever use) and totally forgot about it

I got a letter from my bank yesterday telling me they want a hundred pounds within 14 days

I've got absolutely no intention of paying it and am thinking of ignoring it, there's no way I can afford it for starters, things are very very tight at the moment

Is there any way I can just shut the account? There's no way i'm paying this so that the bankers can get their bonuses and champagne

Thanks

opinions4u

You would appear to have generated a range of charges by ignoring the situation so far.

I've got absolutely no intention of paying it and am thinking of ignoring it

What do you think he outcome will be if you bury your head in the sand?

I'll give you some help:

1) You will attract further charges and end up owing more.
2) Your credit record will be ruined and you'll struggle to get decent banking facilities for the next 6 years.

Is there any way I can just shut the account?

You pay them what you owe them, including charges and say "Please can I close the account now".

There's no way i'm paying this so that the bankers can get their bonuses and champagne

Your call. But if you really think that they sit in the branch at the end of the day knocking back the champers at your expense you're a little bit off the mark.

The best solution? Ring them up, ask them to waive any charges on this (which they may or may not do) and then bring the account back in to credit. After that, try managing your money better so that you don't end up paying bank charges.

Your current plan is not going to get you very far.

simax

zppp

Piggy-pack wrote: »

Hi,

I went overdrawn in my second account by ten pounds two months ago (The account I hardly ever use) and totally forgot about it

I got a letter from my bank yesterday telling me they want a hundred pounds within 14 days

I've got absolutely no intention of paying it and am thinking of ignoring it, there's no way I can afford it for starters, things are very very tight at the moment

Is there any way I can just shut the account? There's no way i'm paying this so that the bankers can get their bonuses and champagne

Thanks

Alternatively, if you contact them, if you are hard up at the moment, they may be able to help you put the excess onto a repayment plan. This will stop further charges from triggering.

Re the bankers bonuses. The 'bankers' that are talked about in the media, and do recieve the mega bonuses are the ones working in investment arms of banks. They do weird dodgy trades etc - this has absolutely no bearing on the retail bank, your current situation or mine. I wholeheartedly agree with opinions4u - face up to it, it will cost you less in the long term.

seanparkin

a) try calling them and asking them to scrap the fees as it was a one time oversight and slightly excessive etc, don't shout at them (unless they absolutely refuse to refund them, then you can if it makes you feel better, I guess).

b) If you rely on the money to survive (IE you really cannot afford the fees as it would mean you would have to go hungry or not be able to pay essential bills etc) then you can claim the charges back as a case of hardship (the banks arent allowed to charge you fees like this on money you need to survive)

c) In all cases of life, don't ignore things. It only makes them worse.

HouseHuntr

Piggy-pack wrote: »

Hi,

I've got absolutely no intention of paying it and am thinking of ignoring it,

Is there any way I can just shut the account? There's no way i'm paying this so that the bankers can get their bonuses and champagne

Thanks

This post should be a sticky. How to screw up my future ! A great example of the type of people who get themselves into trouble through ignorance and refusing to confront their issues!

cbassno3

It sounds like a bit of bad luck! Its an easy mistake to make on a account that is not used often. The £100 charges are way over the top, I would grab the bull by the horns and pay it or try and get it reduced then close the account. Who is the account with? I know there are some banks that don't charge the earth for a small easy mistake to make.:beer:

opinions4u

cbassno3 wrote: »

It sounds like a bit of bad luck! Its an easy mistake to make on a account that is not used often.

Slipping a tenner overdrawn would, to me, be much easier to achieve on a busy account where there are multiple direct debits, standing orders and debit card authorities flying about.

The £100 charges are way over the top

Maybe. But there is little doubt in my mind that a fair chunk of them are a result of the OP burying his/her head well and truly in the sand.

And the OP's proposed solution to the charges caused by ignoring the situation so far?

I've got absolutely no intention of paying it and am thinking of ignoring it

I find it difficult to sympathise.

[Deleted User]

cbassno3 wrote: »

It sounds like a bit of bad luck! Its an easy mistake to make on a account that is not used often.

I'd disagree. The OP spent money on an account that:

a) they didn't check the balance of beforehand
b) they don't normally use, asking the question of why they used this account this time (possibly overspent on the main account too?)
c) they didn't have the foresight to set up a small "just-in-case" overdraft on

I'd say the OP should follow the advice of most others here - ask for leniency, and failing that, pay up, and learn the lesson. Maybe use an account aggregator in the future to keep better tabs on their money.

Although their stance of "I'm not paying up because of bankers bonuses" (obviously they read too much of the Daily Mail, lol) is ludicrous.

Anyway, from previous posts, it seems the OP doesn't exactly have the best judgement:

*On booking flights and being reluctant to pay fees: "I rung them up and she told me down the phone it would be £35 to pay to change altogether, but is there anyway I can get out of the admin fee??"
*On poor budgeting: "Hi all, Am needing some extra money quickly, Am already working all the hours possible and have already sold everything in my house worth selling"
*Can afford to buy a holiday though: "I'm looking for a return flight to Madrid on 2nd September from London Gatwick and coming back on 6th September"

ilesmark

There seem to be a lot of judgemental, pro-bank comments directed at this poor OP on a site that I thought was intended to help people fight the injustice of bank charges. Yes the OP should have managed his/her money a bit better, but, as always, getting hit with bank charges is a punishment that doesn't fit the crime.

I think reading between the lines that the OP might also be asking what the chances are of the bank pursuing them through the courts etc for £100 of charges if s/he simply closes the account without paying the charges. IME, banks are nowadays far less inclined to grant requests to waive charges following the court case, so I doubt that's a viable option.

Thoughts?

Mark

RayWolfe

So, you want people to say: "there, there, never mind. You go ahead and close the account and forget about it"?
I think the OP has received very good advice here and bank bashing and whole threads about reclaiming charged has plenty of air time. Spend a little more time here ilesmark and you will find out more.