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Miss told info by bank
Gordon22
Posts: 1 Newbie
Hello
Can any one help me?
I won't say my bank, But I was over my over draft by £10.
The lady at my back said il get charged £6 a month till its under.
I then a week later got a letter saying I was getter charged £6 a day till it is under.
What can I do?
Can any one help me?
I won't say my bank, But I was over my over draft by £10.
The lady at my back said il get charged £6 a month till its under.
I then a week later got a letter saying I was getter charged £6 a day till it is under.
What can I do?
0
Comments
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Read the T&Cs of your bank as they will apply. If you post the name of the bank, somebody might even post a link to them.0
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Sounds like either NatWest or RBS. The £6 per month is for using an arranged overdraft facility. The £6 a day is for using an unarranged overdraft facility.
Is it possible you misunderstood what was being said to you?
These days, banks have to give very clear information on overdraft charges - and they do in your account T&Cs and on their websites!...with various worked examples.
The good news for you, if it is one of the banks mentioned above, is the £6 per day is capped at £90 for the month, ie 15 days. However, the bad news for you is that if they have to bounce some payments whilst you're unarranged overdrawn you're going to rack up some further charges!0 -
It could be Lloyds/Hbos as well.0
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The Lloyds daily fee for unarranged overdrafts appears to be £5, not the £6 stated by the OP. Halifax is the same isn't it?jonesMUFCforever wrote: »It could be Lloyds/Hbos as well.0 -
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Hi Gordon22,
Welcome to the forum.
What caused you to go into an unplanned overdraft?
You need to address this first otherwise it will happen again and become a vicious circle.
Are you able to pay money into the account to prevent further daily charges?
When you have done this, you can try ringing them and explaining it was an oversight and one off mistake on your part and they may, waive the charges as a good will gesture if it's a one off. Don't rant and rave though, it won't achieve anything. As pointed out, it is in your T&C's.
HTHI’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
If you can't be the best -
Just be better than you were yesterday.0 -
None of the LBG banks charge £6 per day for overdraft usage.jonesMUFCforever wrote: »It could be Lloyds/Hbos as well.DEBT FREE!
Debt free by Xmas 2014: £3555.67/£4805.67 (73.99%)
Debt free by Xmas 2015: £1250/£1250 (100.00%)0 -
They charge a monthly fee of £6 for using an overdraft.0
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