TSB £10 Buffer Zone

YorkshireBoy

gbhxu wrote: »

I fall under The Social Security Administration Act 1992 Section 187.

My only income is IR ESA

My cousin played trombone for Brighouse & Rastrick Brass Band.

He takes a shoe size 8 (sometimes a 9).

Now we've got the irrelevancies out of the way, you should make a claim under the DD guarantee. The bank is duty bound (under the Payment Services Regulations) to also refund your bank charges, and will be indemnified by the DD originator.

gbhxu

innovate wrote: »

Did you tell TSB? If not, why not? Why did you come on here with your problem if you are certain that you cannot be subject to the TSB T&Cs you agreed to?
that is not the blank's fault, you have to take this up with the company who took the DD. What did they say when you took this up with them, what have you done to make sure this will not happen again?

I agreed to the £10 buffer zone that TSB are not honoring.

YorkshireBoy

gbhxu wrote: »

I agreed to the £10 buffer zone that TSB are not honoring.

They're charging you £10 for returning a DD of a value >£10. This has nothing to with any £10 buffer.

Sparx

To clarify, the £10 fee is for a returned Direct Debit - totally unrelated to your £10 OD buffer as YorkshireBoy already said.

BMN

gbhxu wrote: »

I agreed to the £10 buffer zone that TSB are not honoring.

The £10 buffer only applies if they actually agree to give you an unplanned overdraft (in your case it looks like they haven't). This is explained in the charges brochure which was posted by YorkshireBoy.

The easiest way to prevent bank charges is to live within your means and manage your finances effectively. I'm not suggesting that you're not doing both of these already but given your circumstances I understand that this may not always be possible - so perhaps you'd like to have a search on Google about "First Right of Appropriation".

Archi_Bald

BMN wrote: »

so perhaps you'd like to have a search on Google about "First Right of Appropriation".

This won't help retroactively. Tha bank needs to be notofied in writing 7 days before the event, which clearly isn't possible in the circumstances.

Best chance gbhxu has for now is to grovel with the bank, if it was the first such issue. Next best is to activate the Direct Debit guarantee, if indeed the direct debit was taken on the wrong day. Third alternative is to pay the tenner. With any alternative, more prudent money management is needed in the future.

Gromitt

Archi_Bald wrote: »

Next best is to activate the Direct Debit guarantee, if indeed the direct debit was taken on the wrong day.

We don't know what "wrong day" actually means. It could be that the DD was due to be paid this Monday, so the DD was started on Friday night, insufficient funds meant the DD was rejected early Saturday morning and a £10 "Unpaid item fee" made.

pqrdef

Buffers are something the regulator wants, and as I understand it the idea is that the bank ignores any transgression of any limit by up to £10, both for payment decisions and for charges. This goes to unplanned overdraft limits, planned overdraft limits, and fee-free limits.

So (1) except for the interest, you don't pay any extra fees for crossing a line by up to £10
(2) they will make a payment that takes you up to £10 over your unplanned overdraft limit, whatever that is, even if it's £0, even if you've got a basic account, possibly even if you're paying for Control, since they won't be charging you for making the payment.

Seems to me the likeliest explanation for the OP's poblem is that there was money on hold against a pending payment. It's the available balance that they're looking at, and this will get clobbered e.g. if some merchant has trouble with their machinery and aborts a debit card payment and then takes it again, leaving the first attempt to sit on hold for a week, as they do. A sufficient statement balance, with or without buffer, is no guarantee that payments get made.