Barclays suddenly changed Overdraft policy

someanonbloke

Hi, I've been with Barclays for many years. I've always been a good 'customer'.

I have an overdraft facility of £500, which has been useful; I can go into debit for a couple of days before realising and then top it up with cash. The most I'm usually in debit is a couple of days.

Anyway, now they want to charge me for whenever I'm overdrawn (except the first £15 - nice of em).

I'm sure I'm not alone here but it just feels like they've observed my banking behaviour and tried to figure out how they can profit from me.

This is very frustrating and feels like a sting. Perhaps I should move to another bank.

DUTR

Perhaps you should, I'm with barclays, never used the overdraft or reserve facility, so the changes are irrelevant to me, however in your sensationalism of the changes, you failed to mention the changes do not come into effect until 16th June.

someanonbloke

you failed to mention the changes do not come into effect until 16th June.

You fail to comprehend the pathetic predatory nature of the bank.

Furthermore, what does that have to do with the original point? Clearly a deliberate attempt to steer the discussion away from the actual point I was making.

The point you need to understand is that bankers are scum. Clear?

PeacefulWaters

someanonbloke wrote: »

Hi, I've been with Barclays for many years. I've always been a good 'customer'.

I have an overdraft facility of £500, which has been useful; I can go into debit for a couple of days before realising and then top it up with cash. The most I'm usually in debit is a couple of days.

Anyway, now they want to charge me for whenever I'm overdrawn (except the first £15 - nice of em).

I'm sure I'm not alone here but it just feels like they've observed my banking behaviour and tried to figure out how they can profit from me.

This is very frustrating and feels like a sting. Perhaps I should move to another bank.

Two days overdrawn by £350 at Barclays will cost you £1.50.

At Halifax it will be £2.

With RBS you would pay around £6.03. Similar with Lloyds.

The best solution? Just don't go overdrawn.

Furthermore, what does that have to do with the original point? Clearly a deliberate attempt to steer the discussion away from the actual point I was making.

You used the word "suddenly" in the title. Two months notice isn't sudden.

BillJones

someanonbloke wrote: »

The point you need to understand is that bankers are scum. Clear?

"mother, I crapped in my trousers again, and the evil bankers didn't clean it up for me".

Have you ever considered taking some responsibility for your life?

Thrugelmir

There's no longer PPI income to subsidise current account services.

Learn to budget is the key. Rather than complaining about the cost.

DaveTheMus

someanonbloke wrote: »

The point you need to understand is that bankers are scum. Clear?

You'd better stop spending their money then, they might come and get you.

Mr_Goodkat

Overdrafts are an expensive method of borrowing money and are only ever meant as short term facility and are repayable on demand.

Why do people think they should have the right to spend the banks money rather than their own money without having to pay handsomely for the privilege?

For the OP with a £500 overdraft dipping in and out of First Direct with 0% on £250 would be perhaps suitable to the way they manage their finances

With this amount of warning budgeting could get the majority out of their OD's but will they do it?

If banks need to charge more and more to people who use these overdrafts so that the rest of us can enjoy free banking or better still paying us for banking with them then let the good times roll.....

dr_adidas01

Mr_Goodkat wrote: »

Overdrafts are an expensive method of borrowing money and are only ever meant as short term facility and are repayable on demand.

Why do people think they should have the right to spend the banks money rather than their own money without having to pay handsomely for the privilege?

For the OP with a £500 overdraft dipping in and out of First Direct with 0% on £250 would be perhaps suitable to the way they manage their finances

With this amount of warning budgeting could get the majority out of their OD's but will they do it?

If banks need to charge more and more to people who use these overdrafts so that the rest of us can enjoy free banking or better still paying us for banking with them then let the good times roll.....

So instead of the OP learning to manage there money you suggest they switch to First Direct simply for the first £250 of there overdraft to be interest free?

Guess that's a valid reason to do it!!

As others have pointed out if the OP only goes into there overdraft for a few days then it will cost them about £1.50.

Also notice of these changes isn't sudden at all they have give quite a few months notice of the change.

meer53

someanonbloke wrote: »

You fail to comprehend the pathetic predatory nature of the bank.

Furthermore, what does that have to do with the original point? Clearly a deliberate attempt to steer the discussion away from the actual point I was making.

The point you need to understand is that bankers are scum. Clear?

Other banks are available. Clear ?

dr_adidas01

Mr_Goodkat wrote: »

If banks need to charge more and more to people who use these overdrafts so that the rest of us can enjoy free banking or better still paying us for banking with them then let the good times roll.....

So people should pay so you can have free banking, sounds like you maybe one of these greedy bankers people talk about. Its only a matter of time before everyday banking fees come into effect just like in the USA and many other European countries.

The days of truly free banking is over, its time to get used to the fact we will soon be charged a fee for everything.