Interest Fees causing u to exceed limit - £30 charge

paulfoel

Cahoot have done this to me for the last three months.... £30 each time.

I'm sure I read somewhere that financial institutions can't do
this....

Basically, my account was £3 within my limit but an interest charge
pushed it £2 over the limit. Hence, I got charged £30 for unauthorised
overdraft.


Is this allowed? I'm sure I've heard that you can't get charged
further fees if a bank charge causes these fees to be charged...

nickmack

paulfoel wrote:

Basically, my account was £3 within my limit but an interest charge
pushed it £2 over the limit. Hence, I got charged £30 for unauthorised
overdraft.

Is this allowed? I'm sure I've heard that you can't get charged
further fees if a bank charge causes these fees to be charged...

Please read the first link in my signature, it should explain everything.

paulfoel

nickmack wrote:

Please read the first link in my signature, it should explain everything.

Great information. I see the bit on contractual interest and interest being caused by these charges.

But what about my situation where the initial unauthorised overdraft charge (being too high or not) caused my to go over the limit again and incur yet another charge ?