Barclays overdrawn charges?

bradztheman

Does anyone know what the charges for going overdrawn without an agreed overdraft?? I phoned them and they could give me a straight answer, ive also tried googling it but can't find a proper answer. Im £360 in the red, without any agreed overdraft, so was wondering how much i will get charged for this. They shouldn't even have allowed this payment to be taken unless funds were available!

grumbler

http://www.barclays.co.uk/Helpsupport/Personaloverdraftratesandcharges/P1242557964206
You seem to be right:

You must ensure that you have available cleared funds in your Personal current account to enable us to honour all your cheque, debit card, Direct Debit or standing order payment instructions when we receive them. If you exceed the applicable payment buffers on your account by:

• Going over your overdraft limit by £1 without a Reserve, or
• Going over your Reserve limit by £1, or
• Going overdrawn by more than £15 without either an overdraft or a Personal Reserve.

then, unless the payment is a Guaranteed Transaction (which we must honour), the payment will be returned unpaid.

bradztheman

Still dont understand. What will i be charged? And can i dispute this?

grumbler

I have no idea. There is a link to some pdf at .... but it doesn't work.

Current accounts – our bank charges explained 540 KB

There is another link at www.barclays.co.uk/CurrentAccounts/BarclaysBankAccount/P1242557963758

Summary of current account charges and borrowing facilities 210 KB

Surprise-surprise, it doesn't work either.

I think you can dispute this on the grounds that the payment(s) should have been returned unpaid according to the term quoted above. There might be some charges for the bounced payment(s) though.

EDIT: the links work in IE, but I don't see anything new there about overdraft charges. I start thinking that they don't charge anything except the interest.

NeverEnough

Yes, you will be charged for each unpaid item. Currently its £8per transaction, even if the transaction was a trivial £2 , you get to pay a penalty of £8 per returned item.

grumbler

And what if there were no any unpaid items (all were paid and made the account overdrawn)?

noh

grumbler wrote: »

And what if there were no any unpaid items (all were paid and made the account overdrawn)?

Then it is £8 per guaranteed transaction

http://www.barclays.co.uk/Helpsupport/Personaloverdraftratesandcharges/P1242557964206

grumbler

I see...
I thought it had to be some special transaction, but I was mistaken.

bradztheman

received a letter today saying because its a guaranteed transaction, i won't be charged a penny for going into minus figures, as i havent even got an agreed overdraft so it shouldnt have even let the transaction happen.

grumbler

bradztheman wrote: »

...as i havent even got an agreed overdraft so it shouldnt have even let the transaction happen.

I wouldn't rely on this in the future. I think this is an incorrect information coming from some incompetent person that you were lucky to deal with.
It's like saying that any transactions taking one's account over the agreed limit shouldn't happen. Unless it's some special account, your agreed limit is simply £0.

innovate

bradztheman wrote: »

received a letter today saying because its a guaranteed transaction, i won't be charged a penny for going into minus figures, as i havent even got an agreed overdraft

Sorry, but this makes just about no sense at all. Could you clarify

1. what is a 'guaranteed transaction'?
2. where in the Barclays T&Cs it says they will waive charges if you go into an unauthorised overdraft because of 'guaranteed transactions' ?