Have I made a mistake

Pyrotechnic

I have been with the same bank for a long time and have been very tempted to switch to 1st Direct. I have thought about this for months. However, when the bank I am with created the 123 Account, I was very tempted. I have only ever gone overdrawn once in 25 years and was very disappointed when they charged me for it, so much so I complained and they refunded.

After being quite annoyed about this, I gave them the benefit of the doubt and decided I would switch to the 123 Account. The process said I would hear back from them in 3 days. Guess what, no reply or anything. Coupled with my recent overdraft charge I am now wishing I had not started the process and switched to 1st Direct.

My question is, as I am still undecided, is am I committed to switching to the 123 Account, having nit signed anything or can I begin to transfer everything over 2 a new account.

Macca83_2

Pyrotechnic wrote: »

I have only ever gone overdrawn once in 25 years and was very disappointed when they charged me for it, so much so I complained and they refunded .

Why would you be disappointed with them when they charged you for being overdrawn? Are you exempt from their terms and conditions?

You can transfer your account whenever you fancy but you'll still get charged by any bank if you go overdrawn once a week or only once in 25 years. Just be grateful that they were good enough to refund it.

Pyrotechnic

No, I am not exempt, but a bit of customer loyalty goes along way and considering my 25 years of being in credit, I expected a little more. The fact that they refunded the charges shows that perhaps they felt the same.

As for being grateful, I am certainly never going to be grateful to any bank. Perhaps they should be grateful I bank with them.

Macca83_2

More than likely the advisor couldn't be bothered with the idea of a confrontation for the sake of a one off charge. Most banks Will refund the first charge as a gesture of good Will anyway.

I don't really feel that you've been unfairly treated by your current provider, but you do have the right to move your banking whenever you feel like it.

Pyrotechnic

I agree. However, referring back to the 2nd part of my original post, I am now disappointed that after over a week awaiting to hear back about the 123 transfer, it annoys me. If I got an email just to say we are busy and it may be another week before you hear would be fine, but to hear nothing justifies why they come very low in customer satisfaction surveys.

callum9999

Pyrotechnic wrote: »

No, I am not exempt, but a bit of customer loyalty goes along way and considering my 25 years of being in credit, I expected a little more. The fact that they refunded the charges shows that perhaps they felt the same.

As for being grateful, I am certainly never going to be grateful to any bank. Perhaps they should be grateful I bank with them.

Don't be so ridiculous. No bank (even First Direct) is ever going to go and reprogramme their entire system to automatically let certain customers they deem "loyal" (I highly doubt you're being a loyal customer - either they gave you the best deal on the market or you couldn't be bothered to switch, neither is "loyalty") break the terms and conditions with no penalty. You broke the T&Cs so were automatically charged. They then reversed the charge when you asked them to do so. What exactly have they done that is so horribly wrong?

If you're annoyed at the delay, why not just ask them? If you don't like their response then tell them to cancel it and switch to First Direct.

amiehall

Many banks have systems that don't charge a fee for the first accidental overdraft in X months. I know HSBC do.

callum9999

amiehall wrote: »

Many banks have systems that don't charge a fee for the first accidental overdraft in X months. I know HSBC do.

Many? It seems HSBC do, and that is good of them, but what makes you think "many" banks do it?

Though the OP is saying the bank should have automatically waived the first fee due to their "loyalty" - which is what I was disputing. In an ideal world, every bank would waive the first charges for everyone automatically.

Meadows

Pyrotechnic wrote: »

I have been with the same bank for a long time and have been very tempted to switch to 1st Direct. I have thought about this for months. However, when the bank I am with created the 123 Account, I was very tempted. I have only ever gone overdrawn once in 25 years and was very disappointed when they charged me for it, so much so I complained and they refunded.
After being quite annoyed about this, I gave them the benefit of the doubt and decided I would switch to the 123 Account. The process said I would hear back from them in 3 days. Guess what, no reply or anything. Coupled with my recent overdraft charge I am now wishing I had not started the process and switched to 1st Direct.
My question is, as I am still undecided, is am I committed to switching to the 123 Account, having nit signed anything or can I begin to transfer everything over 2 a new account.

Not sure why you would be disappointed at receiving a charge for being overdrawn (even if it only happened once), if you do not have an agreed overdraft or sufficient funds in you account but spend money you do not have you will be charge for it. The onus is on you to maintain your account!

As for switching banks, well you can have as many as you like and close them when ever you like. Have you thought to ring 123 and ask what has happened to the account or tell them you no longer wish to proceed with the account.

opinions4u

As for being grateful, I am certainly never going to be grateful to any bank. Perhaps they should be grateful I bank with them.

And you claim they should show you some loyalty? Yet you assume they should lick your boots. Loyalty is a two way street.

No, I am not exempt, but a bit of customer loyalty goes along way

it does.

and considering my 25 years of being in credit, I expected a little more.

despite the fact they've been sending you revised terms and conditions and tariffs for 25 years explaining exactly what would happen, you thought the loyalty fairy would pop out of the ATM, kiss you on the lips and magic away the charges before they even happened?

The fact that they refunded the charges shows that perhaps they felt the same.

No, it shows that they have a sensible policy of refunding charges to first time offenders and understand that it's not worth a confrontation first time around.

But this is nothing to do with loyalty. You got loyalty. You slipped up, they let you off. You need to channel the annoyance at yourself. Not blame the bank for your mistake.

Your efficient running of your finances is commendable. One mistake is a reminder to keep your eye on things.

My question is, as I am still undecided, is am I committed to switching to the 123 Account

Even if the switch went through this week, you can switch the account elsewhere any time you like.

amiehall

callum9999 wrote: »

Many? It seems HSBC do, and that is good of them, but what makes you think "many" banks do it?

Though the OP is saying the bank should have automatically waived the first fee due to their "loyalty" - which is what I was disputing. In an ideal world, every bank would waive the first charges for everyone automatically.

I see, my main bank is HSBC and I've also had great proactive service from RBS where I held my student account helping me avoid any charges.

I guess my 2 main banks are quite flexible so I supposed others might be too.... I've not been into unauthorised overdraft in many years now, policys like that aren't my top priority anymore now I take a bit more care of my money.