Cahoot Unreasonable Overdraft Fee

ZoeMarie_2

Hi guys,

I'm not sure if I am over reacting on this one, but cahoot have charged me £25 for being £4.55 over my overdraft for 2 days. Does anyone else think this is unreasonable?

I have a £500 overdraft limit and have never been over it before. I use my cahoot account for my spending money, which goes in on the 23rd of every month. On the 21st March a payment to a restaurant in Spain went into my account, costing a little more than my maths had thought it would. I sent an email explaining this to cahoot and they sent me one line back saying they wouldn't refund the fee.

I have £4500 left of a flexi loan (never missed a payment from £8000) and £500 in a savings account. I wrote back saying I would close all my accounts because I thought they were being very unreasonable, but they haven't bothered replying.

I opened the cahoot account in the first place because Barclays had been really really awful (very long story). Does anyone know of any bank which treats its customers with common sense and respect so that I don't have to change again?

IvanOpinion

This is very unfortunate and is a large fee for such a trivial amount. The problem is that you agreed to these things when you agreed to their T&C. It was not the banks fault, they could have bounced the payment (which is what they used to do ... and is much more embarassing). Sometimes if you call into a branch they are a bit more responsive and might halve the amount unfortunately with internet banks there is not much you can do.

I am not sure if there is much more than you can do if you have already tried talking to them and therefore I am inclined to chalk this one up to experience. Most banks will do exactly the same. I would be inclined to say never take your overdraft to the limit, it is meant to be a safety buffer, not for continuous use ... better still, get to a stage where you do not need an overdraft.

Ivan

Turning_into_scrooge

ZoeMarie wrote:

Hi guys,

I'm not sure if I am over reacting on this one, but cahoot have charged me £25 for being £4.55 over my overdraft for 2 days. Does anyone else think this is unreasonable?

I have a £500 overdraft limit and have never been over it before. I use my cahoot account for my spending money, which goes in on the 23rd of every month. On the 21st March a payment to a restaurant in Spain went into my account, costing a little more than my maths had thought it would. I sent an email explaining this to cahoot and they sent me one line back saying they wouldn't refund the fee.

I have £4500 left of a flexi loan (never missed a payment from £8000) and £500 in a savings account. I wrote back saying I would close all my accounts because I thought they were being very unreasonable, but they haven't bothered replying.

I opened the cahoot account in the first place because Barclays had been really really awful (very long story). Does anyone know of any bank which treats its customers with common sense and respect so that I don't have to change again?

I cant sing the praises of Nationwide high enough. They recently refunded my charges of £28.50 from a returned direct debit that HBOS wern't even supposed to take. I have banked with Halifax LLoyds TSB and Natwest in the past, i wish i'd found Nationwide years ago

davidcampbell

if you havent had any charges reversed before i would ask again. if you have, then they wont reverse this one as they see it that you havent learnt from your mistake (so therefore it will potentially happen next month or the month after etc)