Can Santander Bank Legally be Stealing Money in Overdraft Charges from us by theft?

jamesd

There are a large number of things I can do that I'm not authorised to do, outside the banking context. It would be interesting to see a bank arguing that because it guarantees a transaction with a floor limit to a merchant then the customer was authorised to make the transaction in excess of pre-agreed limits on their balance.

For the transactions whether the merchant authorisation process contacts the bank it's easy, the bank did authorise.

nicjane113

There is no way that the bank has defered your credit going in just so that you go overdrawn!
If you think how many bank accounts/customers they have they are hardly gonna go through each one to see if they can make someone go overdrawn!

You should never have a direct debit going out the same day as your wages come in as it's asking for trouble! You should have funds availble for your direct debit at least 2 days before it is due.

I would imagine your employers have been a day late in transferring the wages? My dad is my boss and once forgot to transfer our wages in time for the day we would normally get paid so our wages were a few days late.

My boyfriend's wages went into our bills account the same day as our mortgage was due (we bank with A&L/santander) and we got charged £25 because the DD went out before the money hit and there wasn't enough in. He called them and explained what had happened and they refunded the £25 as a good will gesture because it had been a one off error.
If you phone them shouting at them about being thieves, I can't imagine they would be so keen to refund you!

Put it down to a schoolboy error and be more careful with your finances in the future.

xyz123

why does OP always disappear when posters dont agree with the his/her opinion?:rotfl:

Alpine_Star

nicjane113 wrote: »

There is no way that the bank has defered your credit going in just so that you go overdrawn!

I don't think it is beyond the realms of possibility.

In the USA one bank was ordered to pay $203m in compensation to customers for manipulating the order of account transactions to maximise overdraft charges http://www.nytimes.com/2010/08/11/business/11wells.html