Santander Cheeky ******

MonkeyMad

Melissa22_Mum wrote: »

I want to get the balance down before the interest kicks in. I know it's 0%, taking advantage of that is ensuring that the balance is cleared before the interest rate begins. It's actually 19%. We budgeted after moving, sorted everything out finance wise, I found out yesterday that I'll be paying 20.00 a monf they reflected the charge on what you've gone over by, I wouldn't mind at all. 93 p for 93 p! It's when it's for a miniscule amount that's probably not even been touched in reality by the time you've put money back in.th and I'm annoyed about it.
I'll pay it and that's that, I didn't think this would turn out to be a big fuss about changing banks and rambling hypothetical conversations. I was having a bit of a rant and wanted to see if anyone else was in a similar situation.

Didn't you know about this earlier in the year?

http://forums.moneysavingexpert.com/showpost.php?p=50437675&postcount=1

If they reflected the charge on what you've gone over by, I wouldn't mind at all. 93 p for 93 p! It's when it's for a miniscule amount that's probably not even been touched in reality by the time you've put money back in.

As you have had this level of overdraft for 4+ months you have been overspending by £450/m consistently. Would you be advocating charges of £450/m?

Melissa22_Mum

Yes your right that's exactly what I was saying.

Anyway, it's not actually for that. They're charging me because I didn't cancel a weekly standing order I set up for 15.00 to go into my Halifax. I had CB going into it and sent half over to Halifax. Fifty quid just for the computer to say 'no'.

Melissa22_Mum

Earlier in the year it says 15.00 not 20.

MonkeyMad

So your rant is really about the charges being £5/m more than you had budgeted for since you already had £15 accounted for?

The link to your previous post leads to another link where the £15 cap would be applied from 16 March 2011, but the website is showing £20 cap from 16 March 2012. If you have evidence you were told in Jan 2012 they would still be capped at £15 you should ask Santander to limit their charge to this.

lazer

Melissa22_Mum wrote: »

They are now charging me 20.00 a month for 450.00 overdraft. I nearly fainted when I got the email this morning. Not only that they are trying and going to fail, to charge me 50.00 for once going over by 2.98 when I transferred money over to put me back in credit minutes later and for going 93 pence over and money went in the next morning.

How much longer are they going to get away with doing these kind of things. We've just moved house and I've been rearranging my meagre finances. I was planning to pay off the cruddy overdraft by about 20.00 a month as it's all I can really afford.

If you are abiding by the T&C's of the overdraft, you generally shouldn't be paying the full £20 each month.For example if you got paid £100 a month - then you would be out of overdraft for quite a few days every month.

I have no sympathy for the people that have accounts with overdrafts that they are not using, and hopefully the bank will demand an immeadiate repayment. If you are taking advantage of the overdraft, you should be using the account as your main account. It generally dreuces your overdraft fees as well.

In addition, stop paying the Credit Card other than the minimum payments. If you do not want to put this money towards the overdraft (although i would - as i assume the overdraft facility will still e available when the CC needs cleared, so you could use the Overdraft again if you need to but in the meantime would have saved £20 a month), open a savings account and put the monthly repayment you are currently making on the CC into it, and then use it to pay of the CC at the end of the interest free period.

Melissa22_Mum

Good point but I doubt it will wash with them.

I think the main point of it is I stopped payments into the account as I started transferring everything to go through a joint account. This only happening in a matter of weeks. I was planning, as I've said to pay them so much each month to cover the fee and then some to cover the balance.

I've had the overdraft for ages but as other debts were more urgent and I was only paying 7.50 I left this last to sort out. It's just 20.00 for nothing, I've never had enough to cover the whole amount obviously. We could only get the 0% credit card with a little over to pay for the CC debt.

I've written to them today, hopefully I can sort out some kind of payment plan. We'll see!

Does the charge depend on how much you have I wonder or is it a blanket charge? If I had an overdraft of 50.00 say, would I still have to pay 20.00?

Melissa22_Mum

Anyhow, I'll leave it at that and post on here if I get a constructive reply from the bank.

I'm sure other people have more urgent problems!
Thanks for all the helpful replies.

MonkeyMad

The fee is clearly £1/day capped at £20/month. And that £20/month is not really for nothing, it is to provide you the on-going ability to not pay back the £450 O/D to Santander that month and instead continue borrowing it.