First Direct Overdraft Charges

Beanz

Hi,

I currently have an overdraft on my current account with First Direct. If I go over the overdraft limit I am charge £250.

The numbers I have seen on the boards here all seem to suggest charges of somewhere around the £30 mark...

Can anyone else confirm they are charged this much?

Cheers,
Danny

Creditcardkid

Is this a one off charge or is it for charges of charges? i.e are they charging you £25 a day for being overdrawn an £30 for each declined DD.

Let us know and hopefully we can help you.

Thanks
Steve

Beanz

So far as I'm aware it's a one-off charge. They are still honoring DD's etc.

Danny

oldfella

ask them to quote the T&Cs which allows them to charge £250

Mike

Creditcardkid

I would definitely ring them and query this. I cannot think of any reason that you would have a fee this high but I think it may possibly have something to do with the DDs. They will honour them but charge you £25 a time, for example, to do this. 10 DDs go out - £250 straight away.

Ring them asap and investigate as that is a shocking amount to be charged.

Let us know how you get on.

Steve

Beanz

I'll give them a call at lunch time (1pm) and post back.

Danny

laurence1972

It is £30. i have just got one. One off £30 overdraft oversoend Fee.:mad:

Beanz

Hi,

Just checked last months bank statement and checked with FD.

Agreed overdrafts over £500 are subject to 1.5% charge - This equates to the £30 monthly charge I am seeing.

Excess overdraft fees are charged for the first instance you go over you agreed limit and then for each subsequent day you are over that limit and have activity on your account until you are back within the limit.

The initial excess overdraft fee is £30 then each subsequent charge is £25.

Given the recent furore over claiming back charges do you think I'd have a case for claiming, especially since they don't actually do anything admin-wise for the charges?

Danny

CopperPlate_2

I got through their revised T&C's and read about their "informal overdraft" and thought - that sounds like a really good idea - you know, they'll just increase your OD informally for you. No, I didn't come off an alien spaceship, but I did read a bit further and find the charges page for these "informal overdrafts". Unauthorised overdraft by any other name?!

Beanz

Does anyone think it would be worth pursuing FD for a refund? Has anyone had FD shut down their accounts because of a refund request?

Danny