Help needed...£3 a day charge

neil.b_4

Hi All
I have not used my Woolwich account since last year, there was balance of about £5 in it.
Today i went in to change my address, i had been living at the new address for about 10 months, when i got a statment out it said -£147.88 .The amount was not £5 but £3.91 that i had left in there 15/10/05. I phoned the Woolwich to ask what had happened, they said that i had 2 DD come out 18/10/05 for total of £46.93 and each month incured a small interest charge as i had a £50 buffer, but on the 31/07/06 the interest charges took me over the £50 buffer and from that day i had incured a £3 a day charge.

Is this ok for them to charge me this? or is it the same as overcharging £30 for a letter?

What should i do next?
Thanks in advance.
Neil

jonesMUFCforever

Can't reply as to whether Nationwide are fair to charge £3 per day as I don't bank with them so I don't have a copy of the terms and conditions of the account.

I would say however it is not Nationwide's fault that you have taken 10 months to advise them of your new address as presumably statements and correspondence from them would have gone to your old address.

Get a copy of the banking code.
I'm almost sure in there, that banks are not allowed to charge on charges if you know what I mean. Write a letter saying you are sorry for allowing the account to run overdrawn - explain the circumstances and see if they will refund a portion of them for you.

regularsaver1

ejones i think the bank was Woolwich not Nationwide

However, i wouls always say you need to inform a bank straight away of a change of address. Woolwich would have informed you by letter, but this would have gone to the address they had on file. Causing this rolling balance.

Did you know about ehse direct debits that were due out last year.

neil.b_4

Thanks for the replies.
I thought that all the DD had been changed over to my Co-Op account, so was not really bothered about the Woolwich as i knew i would not be using it.

I will write to them as suggested and hopefully they will drop the charges.

Neil

jonesMUFCforever

regularsaver1 wrote:

ejones i think the bank was Woolwich not Nationwide

However, i wouls always say you need to inform a bank straight away of a change of address. Woolwich would have informed you by letter, but this would have gone to the address they had on file. Causing this rolling balance.

Did you know about ehse direct debits that were due out last year.

OOPs slip of the keyboard!
Advise is the same though as I don't bank with them either!

regularsaver1

because you were overdrawn neil.b and hadn;t changed the address

if you had say applied for a loan at your new address, the underwriters could have possibly picked up an undisclosed debt at a different address

so even if you don't intend to use that account, always change the address

PBA

Arguably the charge is the co-op's fault. If they'd agreed to change the direct debits over but then didn't do it properly they should reimburse you for any charges that resulted from their error.