Banks with cheapest bank charges?

rickee48

I'm thinking of changing my bank account and I'm sure Natwest maybe a cheaper bank in the case of bank charges?
Is it still only about £5 per unpaid direct debit? Or are there any other extras?

YorkshireBoy

Everything you ever wanted to know about NatWest's rates and charges is here...

http://www.natwest.com/personal/current-accounts/g6/rates-charges.ashx#charges

To answer your specific question about the unpaid item fee...if the application of this fee creates an unauthorised overdrawn balance then you'll also be charged a £20 monthly maintenance charge, ie £25 for an unpaid item or £35 if they decide to pay it.

opinions4u

Just budget better.

Then most banks are free.

rickee48

opinions4u wrote: »

Just budget better.

Then most banks are free.

Wasn't asking for that reason! Companies slip up coming in early for direct debits, had it once with BT and British Gas. Specially if you're on a pension, I probably know how to budget better than you!

So much judgement on these forums

opinions4u

rickee48 wrote: »

Wasn't asking for that reason! Companies slip up coming in early for direct debits, had it once with BT and British Gas. Specially if you're on a pension

So have an arranged overdraft in place then.

I assume being on a pension is more special in some way than being a low paid family with young children, or a well paid family with high outgoings.

I probably know how to budget better than you!

You may well do. There are numerous different ways of budgeting and I wouldn't claim a monopoly on the subject by any stretch of the imagination.

Budgeting to pay bank charges for having insufficient funds to pay direct debits with strikes me as pretty stupid though.

So much judgement on these forums

I made no judgement. Until this post.

CLAPTON

rickee48 wrote: »

Wasn't asking for that reason! Companies slip up coming in early for direct debits, had it once with BT and British Gas. Specially if you're on a pension, I probably know how to budget better than you!

So much judgement on these forums

if companies take money by DD early then you should use the DD guarentee to reclaim the money rather than plan for fees.

rickee48

CLAPTON wrote: »

if companies take money by DD early then you should use the DD guarentee to reclaim the money rather than plan for fees.

This is my point, the DD guarantee is there in case of mistakes, I have 14 direct debits, plus if I overlooked a direct debit (my fault) better to pay £5 or £8(Barclay's) than £35 with some banks.

YorkshireBoy

Take a look at the YBS Cash Transactor account. It's a savings account that allows direct debits, standing orders, and BACS direct credits such as your income. However, although it comes with a Link card there's no debit card facility with this account.

There's no 'fees and charges' section readily available on their website, but that's not to say they don't charge for failed DDs.

Give them a call?

rickee48

YorkshireBoy wrote: »

Take a look at the YBS Cash Transactor account. It's a savings account that allows direct debits, standing orders, and BACS direct credits such as your income. However, although it comes with a Link card there's no debit card facility with this account.

There's no 'fees and charges' section readily available on their website, but that's not to say they don't charge for failed DDs.

Give them a call?

Thanks for a 'positive' post and will look them up.

rickee48

Budgeting to pay bank charges for having insufficient funds to pay direct debits with strikes me as pretty stupid (Opinions4u)

Totally wrong, you simply misread my post!

My point was if you accidently forgot a dd it is far better to pay a fee of only a fiver or in the case of Barclay's £8.

Bank charges are another issue altogether, wasn't it the proprietor of MSE who led the way for bank customer's to get fees back.

I do not post much on the forum, but read it every day, have done for the last 6 years, but your post was abrupt and judging.

opinions4u

rickee48 wrote: »

Totally wrong, you simply misread my post!

My point was if you accidently forgot a dd it is far better to pay a fee of only a fiver or in the case of Barclay's £8.

Why would you prefer to pay £5 when you could pay pennies for using an agreed overdraft?

Bank charges are another issue altogether, wasn't it the proprietor of MSE who led the way for bank customer's to get fees back.

A few pennies, £5, £8. £35. They're all bank charges. If you'd rather pay £5 than pennies, fine.

I do not post much on the forum, but read it every day, have done for the last 6 years, but your post was abrupt and judging.

With the greatest respect, I suggested budgeting better to avoid all charges. Abrubt? No. To the point - absolutely.

I don't understand why you are budgeting in a way that leaves you open to charges when an authorised overdraft should give you what you want for less the £1 a year with most banks.