Help please! Can I request bank not to take their charges?

Crisp_£_note

Hi

I am just about to be charged £15 by Coop bank for an unpaid item fee relating to a DD earlier this month.

If Coop take their money it will cause me to be in further difficulty and more DD's will 'bounce', some priority bills, as I won't have enough money in the account to cover the remainder of the bills due to be collected over the next 7 days or so and have no surpless savings to tide me over the shortfall.

I only have a very basic Ca!!!!!er account with them it doesnt have an overdraft facility as I am on a low income and didnt want to get into debt after struggling and just about getting out of it previously.

Its not very often I find myself in such a situation so it isnt a regular occurance, just something thats happend due to a stupid mistake of mine a month or so ago.

Does anyone know if Coop would waive or at least hold their charges under these circumstances? Their internet banking doesnt give me much info or contact details and as it is their own charge I have no way of stopping them taking the money as I would a DD or SO on my account.

Thanks.

Tight_as_a_Drum

hmm... if only you could get a short-term loan until payday...

The only way to find out is by calling them and explaining the situation - good luck

jen245

You better be careful, Co-Op operate and enforce a "3 strikes and you're out" policy on their Cashminder account. If you bounce 3 payments (dd's so's etc), they will close your account. If I were you I'd get on the phone to them pronto and try to come to some agreement

meer53

Call them and ask. Then cancel all your standing orders and direct debits and pay them when you have the money available. Might be a load of hassle but it's better than being landed with loads more bank charges for bounced payments.

vindicated

jen245 wrote: »

You better be careful, Co-Op operate and enforce a "3 strikes and you're out" policy on their Cashminder account. If you bounce 3 payments (dd's so's etc), they will close your account. If I were you I'd get on the phone to them pronto and try to come to some agreement

On several occasions co-op told me this policy is enforced but refreshed on a yearly basis so if you miss two in one year then another the following year it won't get closed - so three in 2011 then closed two in 2011 and one in 2012 not closed.

Don't know if it's done using the financial year or jan-dec

adamc260

Tight_as_a_Drum wrote: »

hmm... if only you could get a short-term loan until payday...

That is awful awful advice...

Have you read the OP's original post " I am on a low income and didnt want to get into debt after struggling and just about getting out of it previously."

HomerCastle

Do ask them as soon as possible. Then take a look at th date that your various DDs & STOs leave your account. Could you move any of them to avoid this happening again? Again, ask the organisations who take that money, don't assume they won't be able to help.

jen245

vindicated wrote: »

On several occasions co-op told me this policy is enforced but refreshed on a yearly basis so if you miss two in one year then another the following year it won't get closed - so three in 2011 then closed two in 2011 and one in 2012 not closed.

Don't know if it's done using the financial year or jan-dec

I dont think thats something I'd be willing to put to the test!

Crisp_£_note

:mad: Am now in the same scenario again! Coop have earlier this week taken their £15 unpaid item fee for the bounced DD to Sky for last month.

Sky have in the past few days tried to take their subscription out for this month and because Coop took their charges it meant that yet again Sky Subs have bounced unpaid returned and I am now expecting another notice letter from Coop for another £15 charge for unpaid item fee in the next few days which will be collected next month

Ontop of all this I still have to pay sky's subscription (if Coop hadnt taken their fees there would have been enough money in the account to cover the Sky Subs DD).

Am now concerned that Coop will be cancelling my account as 3 strikes and its closed apparantly. :eek:

What can I do now to prevent this reoccuring , if anything ??

Thanks

thatsean

Ring the co-op to find out what's happening to your account. You need to take responsibility and control for this.

Are the Co-op and sky giving you notice you when they are taking this money?

If not, you've got a valid complaint.

Otherwise you need to:

a) budget for expenses and bank fees
b) decide if sky is a priority
c) try and build up a buffer of at least £50-£100, you can't be running your account to zero as it seems there's too much risk of bouncing payments.

Crisp_£_note

thatsean wrote: »

Ring the co-op to find out what's happening to your account. You need to take responsibility and control for this.

Are the Co-op and sky giving you notice you when they are taking this money?

If not, you've got a valid complaint.

Otherwise you need to:

a) budget for expenses and bank fees
b) decide if sky is a priority
c) try and build up a buffer of at least £50-£100, you can't be running your account to zero as it seems there's too much risk of bouncing payments.

Hi

Thanks for the info. Yes I had a letter from Coop to tell me the money for their charge would be taken as per earlier this week. But they have been known to send me the letter in the past and not take their charges at all. Saying this I wasnt relying on them not charging me of course.

Sky always take their subs around the same date each month hence the Direct Debit, so again I knew this was due as written in my diary (as was Coop).

I have usually kept a reserve of £50 in my account and run it smoothly. However due to my own stupidity last month or so I got into a situation I had to use this reserve to pay off a cancellation fee for something I signed up foe but didnt use and would have cost me more money in the long run if I hadnt bailed myself out (I posted about it on the Vents & Warnings board if you wish to know more).

This has depleted my reserves and I am now trying hard to rebuild this reserve but seem to be chasing my tail at the moment.

I will look into rescheduling my payments to Sky if possible and will also call Coop tomorrow and speak to them as you say its better to be honest and show responsibility. I dont make it a habbit to not have sufficient funds since dealing with past debts and am trying hard not to intend to again.

Thanks