Abbey New Terms and Conditions

Jo.G

I have received a letter from the Abbey today advising their new charges from 10th September. Although they have introduced different charges depending on the value of the transaction that takes you into an Instant Overdraft (ie unapproved) that range from £5 to £35, there is also a £25 Instant Overdraft Monthly fee charged per calendar month during which an Instant Overdraft is used. This seems even worse than the old charges!

belfast_child

i read it and thought it seems better than before. the transaction charge is based on the value of the transaction rather than the standard £35 charge so if say its a debit card payment of £2 you will be charged £5 instead of £35. of course in an ideal world we wouldnt pay any charges
:beer:

basketcase

Jo.G wrote: »

I have received a letter from the Abbey today advising their new charges from 10th September. Although they have introduced different charges depending on the value of the transaction that takes you into an Instant Overdraft (ie unapproved) that range from £5 to £35, there is also a £25 Instant Overdraft Monthly fee charged per calendar month during which an Instant Overdraft is used. This seems even worse than the old charges!

Yes, I got one too and was going to post about this myself.

Does calling Bank Charges an "Instant Overdraft Fee" mean that they can weasel round the Unlawful Charge bit? Or does a charge by any other name smell just as bad - as I'm sure Our Bill would have put it?! :rotfl:

Sagaris

Well I already count myself as an ex-Abbey customer, given the atrocious level of 'customer care' we've experienced recently - looks like we made a good move!

Jo.G

I agree that the individual transaction charges are fairer, I just dont agree with the £25 per calendar month fee being applied on top! The majority of DD going out of my account are £30+ anyway, so if I go over my agreed account (although I closely monitor it daily to avoid the charges) I'd be hit with the £35 charge plus the £25 monthly fee plus the interest. Bank wins again in my eyes.

Silversurfer_3

What I want to ask..Is everybody reading the fees the same as I am that to withdraw money from a cash machine is free + it will cost you handling charge of 1.5% of the value, minimum of £1.50 in UK

PBA

Silversurfer wrote: »

...Is everybody reading the fees the same as I am...

No. Section 3 of the covering letter clearly says that cash machines from Abbey and Link ATMs in the UK are free. You only get charged for cash machines in the UK if they're not part of the Link network. To be honest you'd be pretty pushed to find one of those.

Silversurfer_3

Thanks for coming back on my comment PBA, I have read it again with your comment and can see it now. Thanks again

jonesMUFCforever

PBA wrote: »

No. Section 3 of the covering letter clearly says that cash machines from Abbey and Link ATMs in the UK are free. You only get charged for cash machines in the UK if they're not part of the Link network. To be honest you'd be pretty pushed to find one of those.

I think you will find they are all over the place - in hotel foyers, pubs and clubs and in newsagents etc.
Better stick to machines you know are free ie outside bank buildings and big supermarkets.

PBA

ejones999 wrote: »

I think you will find they are all over the place - in hotel foyers, pubs and clubs and in newsagents etc.
Better stick to machines you know are free ie outside bank buildings and big supermarkets.

Sorry, didn't make myself totally clear. There are no charges from Abbey, sadly the bank can't do anything about a charge imposed by the owner of the machine. It's definitely better to stick to the machines at bank branches, no fee and more secure.

DaveUU

basketcase wrote: »

Yes, I got one too and was going to post about this myself.

Does calling Bank Charges an "Instant Overdraft Fee" mean that they can weasel round the Unlawful Charge bit? Or does a charge by any other name smell just as bad - as I'm sure Our Bill would have put it?! :rotfl:

Looks like they're trying to cover themselves ahead of the forthcoming High Court case - and I'm sure they will have spent a lot of (my) money on getting legal advice. It'll be interesting to see whether their previous terms covering "Unauthorised Overdraft fees" will stand up to retrospective claims for overcharging.