Interest payments when on Benefits

inspirespirit

Aquamania wrote: »

Or perhaps it took an hour for the OP to create a new facebook account and send the message to themself. :cool:

What are you all talking about. What are you a bunch of conspiracy theorists? I read something on a facebook page. Someone had put a screenshot of some information. I copied the information and asked on here if it was true. Simples.

phona

I once heard that if you have money in a Post Office savings account you don't have to tell the benefits people about it, effectively a legal way to hide savings from them.

A similar sort of thing to the OP's question I think: a rumour that could get people into a lot of financial trouble.

myth123

Info on FB can be hit and miss.

There is information on the FOS site about financial hardship and unaffordable lending. Hope this helps answer some questions OP.

http://www.financial-ombudsman.org.uk/publications/technical_notes/financial-hardship-unaffordable-lending.htm#2

SuperHan

Aquamania wrote: »

Kel 1 m ago

(when your OP was made over an hour earlier)

:rotfl:

I guess you don't have an iPhone.

The iMessage from Kel is totally unrelated to the Facebook post, the OP just got a text 1 minute before they screenshot the Facebook post to upload here.

SammenForLivet2

SuperHan wrote: »

I guess you don't have an iPhone.

The iMessage from Kel is totally unrelated to the Facebook post, the OP just got a text 1 minute before they screenshot the Facebook post to upload here.

If that's the case, isn't it slightly worrying they're looking to get their bank charges refunded, on the grounds of affordability? If I was the bank or building society agent, I'll be pretty annoyed.

Granted, if the Iphone was a gift or present, then Yes - I'll be wrong, but if I was on such benefits, I'll be on a cheap £40 Android phone, instead - and sell the Iphone to ensure that I'm not hit with these bank charges again, when banking in this country, is generally free (I haven't paid a fee to my bank in years).

Just my two cents, though.

inspirespirit

The reason I am asking is that my son has a lifelong illness/disability. The bank (in their wisdom) gave him an overdraft.... which he used (his fault I know). the thing is, they charge him every month for this overdraft and occasionally, he has gone over by £1 and he gets charged £5 per day for that. I didn't know about any of this until he had got himself into a bit of a pickle. He only receives DLA and ESA and therefore is struggling to get himself back out of this overdraft situation and at the moment, I'm trying to help him get it down, but struggling myself. I just wondered if the screenshot and the advice they were giving on facebook was true or not. I can't do much as it isn't my account and he will only ring them if he knows it is true as he is embarrassed about it.

inspirespirit

oh, and by the way. I don't have an iphone. I dont have a mobile phone. that screenshot was a screenshot that someone put on a thread in facebook and I right clicked and downloaded it to my laptop and then uploaded it to here, so absolutely nothing to do with me at all.

inspirespirit

and before you say 'sell the laptop'.... it was a present from my son's father and new wife for him for Christmas.

SammenForLivet2

inspirespirit wrote: »

and before you say 'sell the laptop'.... it was a present from my son's father and new wife for him for Christmas.

Nope, I wouldn't - since you're likely to save more money than it costs (e.g: on-line billing), apologies for any confusion, it wasn't intended at you, but there are people out their who have 'flashy' Iphones e.c.t, and live on the state - and that annoys me. But this is not the time and place to discuss this.

Back to your question - do you feel your son has not been treated in accordance with TCF principles, then you could write a complaint letter and hope for a 'Gesture of Goodwill', TCF principles are below:
http://www.fca.org.uk/firms/being-regulated/meeting-your-obligations/fair-treatment-of-customers/

However, it is unlikely (and not mandatory) for the bank to refund you, since some benefits (particularly disabled e.c.t), are more likely to be permanent and therefore the bank can access this income.

The only time that I see the bank refunding is:

1.) They advanced the funds, when it was clear that the client could not repay it back - but you have a regular income (benefits), so this may not apply.
2.) As a gesture of goodwill, but this depends on their opinion and what the adviser thinks of you, as a customer.

It may be worth a shot, but it is slightly worrying that we're growing this 'claim back/compensation' culture - personally, having experience as a Complaints Manager.

Lastly, it might be worth you having a looking at the 'Up Your Income' section, for instance -filling out surveys for shopping vouchers. Personally, Every Little Bit Helps.

I hope this helps

SammenForLivet2

inspirespirit wrote: »

The reason I am asking is that my son has a lifelong illness/disability. The bank (in their wisdom) gave him an overdraft.... which he used (his fault I know). the thing is, they charge him every month for this overdraft and occasionally, he has gone over by £1 and he gets charged £5 per day for that. I didn't know about any of this until he had got himself into a bit of a pickle. He only receives DLA and ESA and therefore is struggling to get himself back out of this overdraft situation and at the moment, I'm trying to help him get it down, but struggling myself. I just wondered if the screenshot and the advice they were giving on facebook was true or not. I can't do much as it isn't my account and he will only ring them if he knows it is true as he is embarrassed about it.

Who does he bank with?
Some Bank's offer a control facility, but this is chargeable (£10p/m normally, but no further charges)

Has he looked at a 'PrePaid Card', which won't let him go overdrawn (e.g: only spend the cash on the card)?