Smile customers

Ta2dUK

baggybond wrote: »

I am now £44 over my £700 on my SMILE overdraft due to my bank loan coming out. I knew this was going to happen and asked my bank for a temporary overdraft increase to £800 until payday, which was less than two weeks off. They refused.

Because I have gone over my limit I am being charged £20 management fee per month and a service fee of £20 a day for up to 4 days. So as soon as my wage goes in, £100 will go out in bank charges.

On reading through the banks info I found this:-"if you don't ask us for an increase but go over the agreed limit anyway, you will pay interest of 15.9% EAR on the overlimit balance, there'll also be a £20 management fee every month and a service fee of £20 a day (up to a maximum of 4 charges per month). So it's always better to ask."

Does this apply to me as I did ask, yeah they said no but I asked?

There's nothing in there about being turned down and going over your limit!!!!

They have emailed me to contact their Managed Accounts team to discuss this. What's the piont in that if I can't have the increase and I don't get paid for another week. I'll still get hit with the charges!!!!

They will normally always pay your loan for you, even if it takes you overlimit. This is because it messes with the interest if a payment isn't received on time. Also, I was under the impression that missing a loan repayment is much more detrimental to your credit file than going over your agreed overdraft limit (someone please correct me if I'm wrong).

If you call the managed accounts department the day your loan repayment takes you overlimit, they normally would increase your overdraft enough to cover it, thus preventing charges accruing. However, you would then have to have a 'reducing overdraft', which basically means your overdraft reduces on a monthly basis. The overdraft can reduce by a minimum of £20 per month, however, the figure is negotiated and reviewed on an individual basis.

I would recommend speaking to the managed accounts department and get yourself on a reducing overdraft, even if this problem is now resolved. Once you've built up your 'status' within the bank, they'd usually be willing to load a fixed overdraft again for you, and besides, getting yourself back into credit wouldn't be a bad thing!

One thing to bear in mind is that overdrafts are now reviewed annually. If you've gone over that agreed limit, the bank could remove the facility completely when it's up for renewal.

Good luck!

iscrimger

Hi, Last week I logged into my account to see my rent and credit card bill appear on my statement as normal. However I didn't get paid until the day after and the next day both items had been withdrawn from my statement and a charge added of £60. I can't find the tariff on their website as those charges seem to have increased, I'm sure it was just £15 per declined item.

Ironically the charge is the exact amount of the credit card payment they declined. I assume the only reason the charge was able to be added to the account was because it was added the day I got paid.

Can I claim this back as it seems a bit ridiculous overall as I've now received further charges for late payments on rent and the credit card?

Surely some common sense at smile would have been able to see there was a payment going into my account the next day.

StretfordEnder6899

iscrimger wrote: »

Hi, Last week I logged into my account to see my rent and credit card bill appear on my statement as normal. However I didn't get paid until the day after and the next day both items had been withdrawn from my statement and a charge added of £60. I can't find the tariff on their website as those charges seem to have increased, I'm sure it was just £15 per declined item.

Ironically the charge is the exact amount of the credit card payment they declined. I assume the only reason the charge was able to be added to the account was because it was added the day I got paid.

Can I claim this back as it seems a bit ridiculous overall as I've now received further charges for late payments on rent and the credit card?

Surely some common sense at smile would have been able to see there was a payment going into my account the next day.

You can send a message in enquiring, but it is likely to depend on the running of your account as to whether you are offered any refund.

Re: payments going in the next day, it is actually in the terms and conditions that payments should be in 1 working day prior to debits.

clarebear

For the first time ever, I accidentally went overdrawn, partly due to moving house and a cheque going adrift. Anyway, I got charged £30 by Smile. I complained, using Martin's template letter, although possibly should have also added that it was the first time ever and see if that could have been taken into consideration.

Anyway, the following day, because that £30 had been debited, another direct debit was applied for, but due to lack of funds (that £30) the direct debit was refused, and thus I was charged another £30.

I received a letter today acknowledging my complaint, saying that basically until the test case is resolved, and the key legal issues before they decide how to respond to my complaint.

Basically I don't know where this leaves me - it seems to me they are just putting me off eventhough the test case has ruled that the charges are unlawful. Some guidance would be really helpful!

Many thanks
Clare

RougeOne

Hello all,
I have just received the first letter back from Co-op bank (Smile) and they listed the charges and reclaims with a total at the end. I think this may be a simple question but im confused as to what i can and cant claim for.
The Totals are
Commission - £584.00
Commission Refund - £225.00
Credit Interest - £19.51
Debit interest - £289.41
DR INT REF?? - £7.80
Fees - £10.00
Which one of these can i claim for if any. what does commission and DR INT Ref mean?
HSBC were really simple they just simply said how much i could claim for!

Thank you for all your help.
Kobi
:money:

squink

DR INT stands for overdraft interest I think (as they always put DR for overdrawn - know it well!) Haven't seen it put that way before but assume "commission" stands for your charges (if so, you've been partially refunded from what it says below) - if you're wanting to claim back for unauthorised overdraft charges then you need actual bank statements from them - (to calculate the interest built up on the charges (which you can also claim for) you need the dates from them too). You can only reclaim actual charges made by them for being overdrawn without arrangement eg. barclays is £30 a hit - this is clearly itemised on your statements which is why you need them (bank fees/overdraft interest isn't part of this). Hope this is of some help....

Sue-UU

Hi Kobi and welcome!

I think for them to put just "DR INT REF" is ridiculous, they should be writing it down properly so anyone can understand exactly what they mean straight away. If squink's advice isn't sufficient then if I were you I'd be ringing them to ask them to fully explain just what it all means - precisely!

Good luck.

Sue

RougeOne

Hi guys cheers!

Im thinking that i can reclaim the commission charges minus the refunds? but what about the debit interest? can i claim that? If not why was that included on this letter!!!:eek:

I have been an avid viewer of these forums for a while now so its great to actually hear from people going through this as well!

Cheers!

Kobi

robotmum

Hi, I have got back my list of charges from an old account with Smile. There are 5 columns - 3 I know I cannot claim on (credit interest, debit interest & tax on credit interest). The other 2 are fees which I assume I can claim on and then commission. I'm not too sure what this is for - as it is an old account I can only check the last few statements as they were all on-line and I would have to pay to get old statements. If anyone can advise on this I would be very grateful. Thank you! So far I have reclaimed very easily from Capital One and Barclaycard, although I did except the refund of the charge less the £12 accepted charge. Each time I only had to send one letter. Would love to be able to reclaim from Smile though as they treated us really badly when we were going through very hard times financially when my husband was made redundant.

Thank you!

Peter_Griffin_73

Hello

I think I probably have thousands of pounds of charges to reclaim with Smile, but I'm unsure of which address to write to -

is it the Delf House, Skelmersdale address on their website, or the Balloon Street address on moneysavingexpert?

Any advice appreciated.

Cheers