First direct charging £30 for overdraft charges

dsmann

Could some one please advise me if these charges are fair.. i have first direct account with standard £500 overdraft.. over past month didn't pay much attention and am in red in first direct account for £250, first direct have charged me £30 as overdraft charges and interest on the overdraft.. are these charges fair.. could someone please advise me on this as i have never faced this before.
Can i claim back these charges as my understanding was that if you remain in your agreed limit of overdraft they can only charge interest on the OD. if am wrong can someone explain to me hows OD interest/charges calculated.

Thanks in advance.

Snaggles

Yes, they should only charge overdraft charges if you exceed an agreed limit - you would only pay interest if you are overdrawn within your limit. Do you use internet banking? You should be able to see what limit you have on your account on there. If it is definitely £500 then you shouldnt have incurred anything for being £250 overdrawn. I would give them a ring to see exactly how the charges have been incurred.

Glad

Hi, Martin’s asked me to post this in these circumstances: I’ve asked Board Guides to move threads if they’ll receive a better response elsewhere(please see this rule) so this post/thread has been moved to another board, where it should get more replies. If you have any questions about this policy please email [EMAIL="abuse@moneysavingexpert.com"]abuse@moneysavingexpert.com[/EMAIL].

Glad

there is another discussion on the same subject here