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MSE News: Santander to double overdraft charges

edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
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MSE_GuyMSE_Guy MSE Staff
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edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
This is the discussion thread for the following MSE News Story:

"The bank will hike overdraft charges in March in a bitter blow to its five million current account users ..."
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Replies

  • callum9999callum9999 Forumite
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    Annoying for the inept or desperate yes, but why does everything have to be transferred into stupid APRs nowadays? Being "charged an equivalent APR of 100,000s%" is just ridiculous and meaningless hyperbole.

    If you don't like the overdraft charges, don't use the overdraft... I don't like the charges thetrainline etc. put on train tickets so guess who I don't use?
  • Santander are a useless bank anyway. All that will happen is that they will loose more customers.
  • AdamBAdamB Forumite
    133 posts
    I have an old A&L Premier Direct account and last year it went from a maximum of £5 per month to £10. and now its getting doubled again to £20? Thanks Santander :rollseyes:
    Bank charges reclaimed: HSBC £1990

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  • Has anyone tried calling Santander? I just gave them a call, to have a moan really - and they told me that this is not true?

    They said that the only fees that are changeing are for going over your arranged overdraft fee, and that on my Premier Direct account,.t he fee will remain at 50p per day, capped at 10 days, as per last year?

    Can anyone at MSE confirm/correct this? as, like usual i intend to take advantage of the nice A&L o/d of £3.4k, to pay off my mortgage, for the small fee of £5 per month.. so this is kinda crucial to figure out if this story is correct or not?
  • BoGoFBoGoF Forumite
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    02112273 wrote: »
    Has anyone tried calling Santander? I just gave them a call, to have a moan really - and they told me that this is not true?

    They said that the only fees that are changeing are for going over your arranged overdraft fee, and that on my Premier Direct account,.t he fee will remain at 50p per day, capped at 10 days, as per last year?

    Can anyone at MSE confirm/correct this? as, like usual i intend to take advantage of the nice A&L o/d of £3.4k, to pay off my mortgage, for the small fee of £5 per month.. so this is kinda crucial to figure out if this story is correct or not?

    My reading is your account will be capped at 20 days
  • BoGoF wrote: »
    From Santander's site QUOTE]


    This is from March 2011.. no 2012 update on the webiste as far as I can see, so I gave them a call..


    Edit: (apologies Bogof.. in my role as Newbie i cant quote your post properly with a link!)
  • nohnoh Forumite
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    Premier Direct is currently 50p a day for an authorised overdraft capped at 20 days as BoGoF confirms with his link.
    So currently max of £10 a month.
    The news story says these fees will rise to £1 a day capped at 20 days therefore maximum will be £20 a month from March 16th.

    I suspect the person you spoke to at Santander is not yet aware of the fee increase.
  • edited 18 January 2012 at 4:30PM
    steve1980steve1980 Forumite
    2.3K posts
    edited 18 January 2012 at 4:30PM
    I received this today.

    IMG1.jpg

    Estate Agent, Web Designer & All Round Geek!
  • please can someone clear something up for me...presumably you wont be charged if you are in credit?
    Save £12k in 2012 no.49 £10,250/£12,000
    Save £12k in 2013 no.34 £11,800/£12,000
    'How much can you save' thread = £7,050
    Total=£29,100
    Mfi3 no. 88: Balance Jan '06 = £63,000. :mad:
    Balance 23.11.09 = £nil. :)
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