Overdraft fines being applied to account 2 days before payday.

Stakkertoo

Yet again, I've been stung with a £40 charge by First Direct for some ridiculous £2 overdrawn (for less than 24 hours) at some time in the last 6 weeks...and YET AGAIN it's posted to my account at the end of the month, 36 hours before I'm paid, and automatically sending me into the red AGAIN.

Call me cynical but surely they know most people get paid at the end of the month, and charging me 40 quid when my account is almost empty isn't going to be the best time for me to pay it.

Why are they allowed to do this? Surely 1st of the month would be more sensible?

mrmajika

Stakkertoo wrote: »

Yet again, I've been stung with a £40 charge by First Direct for some ridiculous £2 overdrawn (for less than 24 hours) at some time in the last 6 weeks...and YET AGAIN it's posted to my account at the end of the month, 36 hours before I'm paid, and automatically sending me into the red AGAIN.

I'd phone them and explain this. They may either waive the charge as a goodwill gesture (if it's your first time in 6 months) or apply a temporary overdraft for the 2 days to cover the difference.

Stakkertoo wrote: »

Call me cynical

You're cynical.

pinkdalek

I don't get paid at the end of the month, yet if I had been charged I would have budgeted for the charge in the first place knowing it was going to be taken on a set date by the bank.

The bank will have advised you of the charge and the charging day, it's your responsibility. If it was just £2 you went over had you even tried speaking to them about it?

Change banks some would say, however I feel it wouldn't change anything for you. You need to go over your monthly budgeting.

CRISPIANNE3

Stakkertoo wrote: »

Yet again, I've been stung with a £40 charge by First Direct for some ridiculous £2 overdrawn (for less than 24 hours) at some time in the last 6 weeks...and YET AGAIN it's posted to my account at the end of the month, 36 hours before I'm paid, and automatically sending me into the red AGAIN.

Call me cynical but surely they know most people get paid at the end of the month, and charging me 40 quid when my account is almost empty isn't going to be the best time for me to pay it.

Why are they allowed to do this? Surely 1st of the month would be more sensible?

Would not touch this so called bank with a long foot barge pole.
Had an account with them about 18 years ago as a secondary account and trying to obtain an overdraft was a nightmare. This woman went through everything on m y bank statement. In the end I just could not be bothered and closed the account there and then

If you want a really good bank go to Lloyds Bank. Been with them for about 30 years and never any issues.

opinions4u

Stakkertoo wrote: »

Yet again, I've been stung with a £40 charge by First Direct for some ridiculous £2 overdrawn (for less than 24 hours) at some time in the last 6 weeks...and YET AGAIN it's posted to my account at the end of the month, 36 hours before I'm paid, and automatically sending me into the red AGAIN.

So you know the rules of the game and still go overdrawn by a piddling little amount?

Call me cynical but surely they know most people get paid at the end of the month

No they don't. Most monthly paid people get paid between the 18th and the 25th.

, and charging me 40 quid when my account is almost empty isn't going to be the best time for me to pay it.

But they do tell you in advance when they will take the money.

Why are they allowed to do this? Surely 1st of the month would be more sensible?

Sensible would be using a current account in a way that doesn't generate charges. The vast majority of bank charges are a lifestyle choice on the part of the account holder.

Stakkertoo

I'm not actually questioning the fines, more the day they choose to take them.

Oh, for sure i need to budget better, tell me about it. I just think it's deliberately targetted to maximise the chances of further fees/fines.

I can't see any other logic to having the 25th of the month as your 'arbitrary' day to bring in fines.

opinions4u

Stakkertoo wrote: »

I can't see any other logic to having the 25th of the month as your 'arbitrary' day to bring in fines.

You're making the assumption that everybody gets paid when you do.

That's not the case.

Take control of the situation. Budget better or change banks to one that charges you at a more convenient time of the month.

pmduk

If you really think a major bank will ally it's statement dates and therefore charge dates just to extract money from you, you need help for paranoia, as well as budgeting.

Vortigern

Stakkertoo wrote: »

Yet again, I've been stung with a £40 charge by First Direct for some ridiculous £2 overdrawn

The normal charge for an unarranged overdraft is £25, waived if it's the first time in 6 months. The unpaid item fee is £10. Did you have several unpaid items during those 2 days?

I was under the impression that all fd customers had an interest free overdraft of £250. Have they refused to give you one?

Stakkertoo

I have the 250 overdraft, but after a very expensive year, i'm usually up to the hilt by the end of the month.

I get the message, though. Thanks for your help.

John1993_2

Stakkertoo wrote: »

Why are they allowed to do this?

They are trying to send you a message. That message is that if you learn to budget properly, and stop going overdrawn, then they'll stop charging you.

I understand that it's not a welcome message, but it's a useful one. It sounds like it's time for you to have a serious sit down and go through your budget.