Halifax bank charges, should I try?

felix42351

Hi there, I have been with the Halifax for around 3 years now and on;ly recently been struggling a little bit finacially after a couple of hefty fuel bills.

Since December I have been going over my £100 overdraft. For some reason it will let me go £65 over but no more. I get charged at £5 per day whilst I am over the £100.

I know it is partially my fault but these charges seem a little excessive. I am have tried to increase the overdraft but have been told I need to keep my account good for a few months, catch 22

Your help would be very welcome

dunstonh

I know it is partially my fault

No. Its totally your fault. That is unless someone else is drawing money from your account.

these charges seem a little excessive

So, why do you keep doing it then if you dont like the terms?

Your help would be very welcome

As the guide to bank charges on this site makes clear, and I assume you have read, the best thing to do is avoid them in first place.

If you know you are going to be charged, then dont draw the money.

Premier_2

felix42351 wrote: »

...Since December I have been going over my £100 overdraft. ...

I am have tried to increase the overdraft but have been told I need to keep my account good for a few months, ...

Good to see the banks are now taking some responsibility for their customers's borrowing

Borrowing more money is never the solution to long term debt problems, despite what the adverts may suggest on Ch.5.

You currently have £100 overdraft and you keep busting that. Even if they were to increase it to £1000, evidence shows those that operate as you do will probably still bust it. What happens is you you know you can spend the o/d and so you do.

Try a new mindset. Tell yourself you cannot let your account go below +£100. I'm not saying it will be easy, and you may well fail on occassions, but even if you do you still have £100 of your own money as a buffer so you won't incur charges.

Of course, if you manage to achieve this for a few months in a row, then you won't need a bigger overdraft. But that's life, it's always easier to borrow money when you don't need it ...

roonaldo

You only have a complaint if the bank is at fault and if you are not.