Went overdrawn by 6p in Hailfax Reward Current Account - will I be charged?

lulu_92

So I've just checked my bank after having some survey money go back in and noticed there was 6p less than I thought.

Looking at my statement it says that a transaction cleared my account on 5th November which took me 6 pence overdrawn. This transaction probably took place on Tuesday morning yet cleared yesterday.

Will I be charged anything for this?

The only things I can find on the website are these:

Reward Current Account £50 No planned or unplanned daily fees if you are in debit by £50 or less

http://www.halifax.co.uk/bankaccounts/rates-rewards-fees/ Found more under the Scenarios Tab.

Any help would be appreciated - I have never gone overdrawn before and it is so not like me!

GingerFurball_2

Do you have an arranged overdraft on your account?

Is your account balance -0.06 or is it 6p over an agreed limit?

paragon909

Lloyds Group, Normally allow customers to go overdrawn upto the value of £10 without an overdraft and don't apply a charge.

I recon you should be fine, But give them a call and find out.

apt

There's a £50 buffer so you won't be charged an overdraft fee. However, you might lose your £5 reward as you need to be in credit throughout the month.

Steve_xx

paragon909 wrote: »

Lloyds Group, Normally allow customers to go overdrawn upto the value of £10 without an overdraft and don't apply a charge.

I recon you should be fine, But give them a call and find out.

I think you may be right about that. My mum went overdrawn on her Halifax Reward account in June and by just £2. It was a mistake in that we forgot about a small transaction during the monthly money shuffle.

Anyhow, they sent her a letter about it, just saying that it had gone overdrawn by £2 and would she like to bring it back into credit etc. So I hastily looked at the t&c's and realised that 9 days worth of this would cost £45. So we hastily put more than that back in it just to be sure. We keep checking but no charges seemed to have been levied as I write.

marvin

apt wrote: »

There's a £50 buffer so you won't be charged an overdraft fee. However, you might lose your £5 reward as you need to be in credit throughout the month.

Correct except it should say will lose the reward if it was OD at the end of the business day. So long as the account gets re-credited the same day it is OK if it does not you lose the £5.

lulu_92

GingerFurball wrote: »

Do you have an arranged overdraft on your account?

Is your account balance -0.06 or is it 6p over an agreed limit?

The first one

Thanks for the advice everyone didn't use my card yesterday so didn't notice x

GingerFurball_2

If your balance is 6p overdrawn, then that's fine.

On the Reward Account you don't get charged for going anything up to £50 overdrawn, whether or not you actually have an agreed overdraft in place.

If you do have an arranged limit of £50 or more, and you go 1p over that limit, then you'll be hit with charges.

GingerFurball_2

paragon909 wrote: »

Lloyds Group, Normally allow customers to go overdrawn upto the value of £10 without an overdraft and don't apply a charge.

Halifax's overdraft buffer policy is different to Lloyds' and Bank of Scotland's.

Aquamania

GingerFurball wrote: »

paragon909 wrote: »

Lloyds Group, Normally allow customers to go overdrawn upto the value of £10 without an overdraft and don't apply a charge.

Halifax's overdraft buffer policy is different to Lloyds' and Bank of Scotland's.

Are you sure? Whilst the buffer does vary depending on the precise account, Halifax say on their own website in regards to a standard current account

We will also give you an overdraft buffer, so if you’re overdrawn by £10 or less our overdraft buffer means you won’t pay any planned or unplanned overdraft fees.

http://www.halifax.co.uk/bankaccounts/current-accounts/other-bank-accounts/current-account/ (click on Overdraft tab)

Aquamania

lulu_92 wrote: »

So I've just checked my bank after having some survey money go back in and noticed there was 6p less than I thought.

Looking at my statement it says that a transaction cleared my account on 5th November which took me 6 pence overdrawn. This transaction probably took place on Tuesday morning yet cleared yesterday.

Will I be charged anything for this?

The only things I can find on the website are these:

Reward Current Account £50 No planned or unplanned daily fees if you are in debit by £50 or less

http://www.halifax.co.uk/bankaccounts/rates-rewards-fees/ Found more under the Scenarios Tab.

Any help would be appreciated - I have never gone overdrawn before and it is so not like me!

As you actually have a Reward Current Account, then there is a £50 buffer as you quote.