Halifax unfair charges

MOOMIN_2

Hi, anyone who was with the Halifax in 2009 will be aware of the extortionate overdraft charges they suddenly brought in, of £1 a day. I had 2 accounts with them at the time - both with large overdrafts totalling £2,200- so from being a free overdraft (as a student at the time) I was now charged £60 a month. They called me in to tell me of the charges (I had no warning!) I could not afford this so they offered me a loan with them to pay it off. The interest was ridiculous, and worked out about double- 4 years down the line I have paid them £2,800 and still have £1,400 left to pay. This seems totally unethical to me. I have contested it twice with the ombudsman, with no success. Occassionslly I get realy fired up with the injustice of it and decide to take action again! I wonder if anyone has experienced something similar or if anyone out there has successfully made a claim?

DUTR

Not long to go to clear it now, keep up the good work, and good luck with your studies.

Delree

Claim for what?

dealer_wins

OP in "borrowing money is expensive" shocker!!!

ViolaLass

OP, what was the interest rate and how much have you been paying per month? Could you pay more?

wrightman90

I've had loads of bank charges, and they won't waive them! Only went over my overdraft for like 2 days, have been in the black apart from that.

Apples2

Maybe they don't want you to spend money which doesn't belong to you without prior authorisation.

DevCoder

If the FOS have rejected your complaint then please stop wasting their time re-sending the same complaints.

Your only remaining course is to take Halifax to court.

thebritishbloke

krisdorey wrote: »

If the FOS have rejected your complaint then please stop wasting their time re-sending the same complaints.

Your only remaining course is to take Halifax to court.

And fail miserably.

27col

Apples2 wrote: »

Maybe they don't want you to spend money which doesn't belong to you without prior authorisation.

What a completely unreasonable business ethic.;)

PeacefulWaters

MOOMIN wrote: »

Hi, anyone who was with the Halifax in 2009 will be aware of the extortionate overdraft charges they suddenly brought in, of £1 a day.

It wasn't sudden. There were press releases six months ahead and written notice of more than two months to each customer.

Additionally, there was significant press activity reporting the proposed changes as they happened before the banks won their charges case in court.

I had 2 accounts with them at the time - both with large overdrafts totalling £2,200- so from being a free overdraft (as a student at the time) I was now charged £60 a month.

The daily charges didn't apply to authorised overdrafts on their Student account. So I assume the Student status expired at some point.

They called me in to tell me of the charges (I had no warning!) I could not afford this so they offered me a loan with them to pay it off. The interest was ridiculous, and worked out about double- 4 years down the line I have paid them £2,800 and still have £1,400 left to pay. This seems totally unethical to me.

Did the cost of the loan cost less than the 2 x £1 a day overdrafts would have done? If the answer is yes, then what is unethical?

I have contested it twice with the ombudsman, with no success.

If your complaint was "they changed the price and offered me a loan where the interest was cheaper" then I'm not surprised.

Occassionslly I get realy fired up with the injustice of it and decide to take action again! I wonder if anyone has experienced something similar or if anyone out there has successfully made a claim?

No claim to be made. You could take them to court but I can't see any grounds on which you'd see a penny. Just legal bills.

Time to stop being fired up. Let it go.