When does 15p equal to £65?

meer53

MichaelCR wrote: »

The OFT States, That banks can only charge a charge to the customer that reflects the true loss incurred by the bank, I can certainly tell you going 15p overdrawn has not cost the bank £65.

I would tell them to remove it, I have reclaimed over £300 in bank charges through letters explaining my rights and the OFT's regulations.

If that doesn't work, Threaten them with the Financial Ombudsman service, This has always worked for me when placed in a letter.

I can provide the letter that i've used to clear the charges if that helps, It has never failed to work.

How do you know how much it has cost the bank ? Do you work there ?

Every day that the OP's daughters account was overdrawn, someone at the bank would have checked on it to see if it had been rectified, the staff don't work for free. What do you think a fair charge would be ?

I'm glad that by you TELLING your bank to remove your charges and by THREATENING them with the FOS you've managed to have your charges refunded, i hope it continues for you. If i got one of your letters, i'd check your account history, then politely tell you that this time you won't be getting a refund and to try to manage your account a bit better in future.
:)

noodle

meer53 wrote: »

Every day that the OP's daughters account was overdrawn, someone at the bank would have checked on it to see if it had been rectified, the staff don't work for free. What do you think a fair charge would be ?

even if the bank required a human being to look at the account and manually apply the charge, and let's be honest... they don't, £5 would be a fairly hefty charge. it's, what?, the cost of paying a reasonably skilled person for 20 minutes? let's let them markup the cost by 100%.. so now they've got ten minutes to do it. do you think, that in this modern world, they'll pay someone for ten minutes to do that?

come on.. by all means defend their right to set Ts&Cs and charge fees as set therein.. (because they have that right) but let's not pretend that this fee is reflective of the cost. if nothing else, that line of argument entirely kills the argument that 'bad' customers are needed to ensure free banking for the 'good' ones... because in that model, that £5 has had to go towards paying someone to deal with something on someone elses account.

meer53

Where i work, it is a human being who looks at accounts which are over their limits.They all appear on a daily report. An attempt is made to contact the customer to see what they are proposing to do about it, if we can't get hold of them by phone, a letter is sent. Then the account has to be noted so that the next person to look at it will know what the situation is. I don't think £5 is far off the mark for that level of service. Of course i can only comment on what happens where i work.

noodle

meer53 wrote: »

Where i work, it is a human being who looks at accounts which are over their limits.They all appear on a daily report. An attempt is made to contact the customer to see what they are proposing to do about it, if we can't get hold of them by phone, a letter is sent. Then the account has to be noted so that the next person to look at it will know what the situation is. I don't think £5 is far off the mark for that level of service. Of course i can only comment on what happens where i work.

Thanks, but we know that the OP's daughter didn't get all of this. It's good that, at your place, a human being looks at things. Out of curiosity, would they have any scope to look at a static 15p 'issue' that's already had charges applied to it and put a stop on further charges unless the debt increases? That would be the sort of common sense you might expect from a human over and above a computer - though I appreciate that someone still has to look at the balance each day until it is cleared (but, of course, can choose not to bother calling or sending a letter - on the basis that a letter would already have been sent and another does nobody any use).

meer53

noodle wrote: »

Thanks, but we know that the OP's daughter didn't get all of this. It's good that, at your place, a human being looks at things. Out of curiosity, would they have any scope to look at a static 15p 'issue' that's already had charges applied to it and put a stop on further charges unless the debt increases? That would be the sort of common sense you might expect from a human over and above a computer - though I appreciate that someone still has to look at the balance each day until it is cleared (but, of course, can choose not to bother calling or sending a letter - on the basis that a letter would already have been sent and another does nobody any use).

We wouldn't send a letter every time we look at the account, we do have the scope to look at the amount which is over the limit, and to use common sense about whether we would refund the charges, but we wouldn't do anything until we've spoken to the customer. To be overdrawn for 8 days and not bother to contact the bank or pay in to cover this is a bit lax really, but i appreciate that people who don't deal with this type of stuff like we do, probably don't see the urgency until they're slapped with the charge !

I get text messages every day and use online banking, i learned the hard way years ago !

chambta

MichaelCR wrote: »

The OFT States, That banks can only charge a charge to the customer that reflects the true loss incurred by the bank, I can certainly tell you going 15p overdrawn has not cost the bank £65.

I would tell them to remove it, I have reclaimed over £300 in bank charges through letters explaining my rights and the OFT's regulations.

If that doesn't work, Threaten them with the Financial Ombudsman service, This has always worked for me when placed in a letter.

I can provide the letter that i've used to clear the charges if that helps, It has never failed to work.

Do you need to do it often?

noodle

meer53 wrote: »

To be overdrawn for 8 days and not bother to contact the bank or pay in to cover this is a bit lax really, but i appreciate that people who don't deal with this type of stuff like we do, probably don't see the urgency until they're slapped with the charge !

And at 15p, even someone who thinks they are on top of things can get stung. Of course, one should be extra vigilant when being so close to the limit - but it could be the difference between thinking that a bill is £9.69 when it's actually £9.96 (i've no idea what a fancy box of rabbit food costs these days).

meer53

noodle wrote: »

And at 15p, even someone who thinks they are on top of things can get stung. Of course, one should be extra vigilant when being so close to the limit - but it could be the difference between thinking that a bill is £9.69 when it's actually £9.96 (i've no idea what a fancy box of rabbit food costs these days).

LOL !:rotfl:

I'm sure that if this is the first time the OP's daughter has done this, she'll get the charges back, i'd refund them for her.

MichaelCR

Lokolo wrote: »

This isn't the DFW board, we don't cosey up those that put themselves in debt because of overspending and not reading T&Cs.

If you read the rest of the thread a couple of Santander workers show that the charge is only charged when over £10, but the OP hasn't come back so I guess we'll never know what happened

Sorry ! I just read the op first post and replied, I was only trying to help ?

@meer53,

Nope, I don't work there, I was just suggesting that its a possibility that it doesn't cost them that much, Remember Banks are there to make money.

Haha ! I'd also tell you not to comment when you don't know what my account history is ! I manage my accounts fine, So much so i've now got a top current account with my main Bank after cleaning up my act and using the account properly, Instead of spending every penny i had.

So Don't comment on my financial history when you haven't got the faintest idea.

@chambta

Twice Actually, Once to an account who had wrongfully taken charges from my account over a large period of time, Hence why they refunded the charges.

And one from an account they charged me because they took me overdrawn after a beneficiary tried to take a DD 12 days early and my account had insufficient funds.


@glider3560

Sorry i quickly scanned through the OP first post then replied without reading the other posts ! My mistake.

My bad.

meer53

MichaelCR wrote: »

Sorry ! I just read the op first post and replied, I was only trying to help ?

@meer53,

Nope, I don't work there, I was just suggesting that its a possibility that it doesn't cost them that much, Remember Banks are there to make money.

Haha ! I'd also tell you not to comment when you don't know what my account history is ! I manage my accounts fine, So much so i've now got a top current account with my main Bank after cleaning up my act and using the account properly, Instead of spending every penny i had.

So Don't comment on my financial history when you haven't got the faintest idea.

You provided your financial history by telling us that you'd incurred £300 in charges and had them refunded ! That information would give anyone a pretty good idea about the way you run your accounts. Good on you for improving things.

My comment was mainly about the way you TELL people to do things and then if that doesn't work, you would THREATEN them with further action. In my experience, this sort of attitude doesn't always help.