Excessive card charges

Hi

Can anyone tell me if they were able to claim back excessive charges for cash withdrawal. Stupidly enough I withdrew £50 in an emergency one day and because I could ever clear the balance in total I paid back £687.88 interest for £50!! This was on top of all other interest. I was never eligible for a loan from Halifax to clear the debt but they were more than happy to up my limit without telling me. I was at a very tough financial stage and they knew I was vulnerable. I accept the interest charges as it was my spending but I just feel £687.88 is completely ridiculous.
I was also given a "free" overdraft with my halifax account for years until they decided to charge me £5 a day out of the blue. Are banks allowed to suddenly introduce they charges when they can see how tight things are financially?

Many thanks

Replies

  • nohnoh Forumite
    5.6K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    Forumite
    You have no grounds for a claim on either account.

    Halifax didn't suddenly introduce charges "out of the blue".
    They gave you the required notice before the charges came into effect.
  • meer53meer53 Forumite
    10.2K Posts
    Tenth Anniversary 10,000 Posts Combo Breaker
    You must have owed that £50 for a long time. Did you contact Halifax before the charges got to nearly £700 ? How would they have known you were "vulnerable" ?

    Not all Halifax customers are in financial trouble, they didnt just introduce the charges to upset you. The charges apply to everyone.

    Call them to see if they will refund any charges for you.
  • jpwjpwjpwjpw Forumite
    268 Posts
    Part of the Furniture 100 Posts Combo Breaker
    Would be interesting to see your calculations that £50 cost £687 in interest. Obviously, the cash interest rates are high so you should never do it, but £687 sounds a bit high?
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