Bank Account charges - Horrified - way ahead

kennyruss72

I was advised to move this across to this forum

Hi all, newbie - be gentle

Just totted up bank charges across 3 accounts (2 of mine, 1 missus) all halifax - I was horrified..

Kennyruss72 account 1 - overdraft £1k - total charges since Jan 2012 = £1326
Kennyruss72 account 2 - overdraft £2.5k - total charges since Mar 2009 = £2682
The Missus account - overdraft £2.65k - total charges since Jan 2010 = £3464

So in total so far £7500 in charges across the 3 accounts I am astounded.
It is a mixture of account fees, overdraft charges, planned and unplanned etc.

I have looked at various stcikies on this topic and really wondered what was my best way forward in an attempt to try and recover some of these charges, as it is a horrific amount of money...

any advice appreciated..

Our financial situation is not great and we have 5 credit cards on long term interest frozen payment plans (negotiated myself) and simply just scrape by each month..


kennyruss72

redux

If your credit cards are on frozen interest plans, then this obviously supports that you've been having problems.

Halifax supposedly can offer to help people in financial difficulties, so you might ask about that, and also ask as a complaint why they haven't offered such help already. Think back to any discussions you've had where you might have dropped a hint but not much response.

They might waive interest going forward for a few months, and possibly refund some of the past charges on only a goodwill basis (they can say the charges were correctly applied, so they aren't obliged to refund) but I think it unlikely you'll get the whole lot wiped out. Also I don't know what might trigger them to try to cancel the overdraft arrangement.

If they decline to zero fees for a while, note that on the Rewards current account the charging scheme is £1 a day up to £2000 balance, and £2 a day above that, so when you are paying charges try very hard to stay below £2000. See if they would adjust all 3 arrangements to £2000, which would save £2 a day. Also I wonder if any goodwill adjustment could be partly based on recalculating as if that had been done ages ago, as they obviously didn't suggest this when you made the third arrangement.

Pixie5740

Are any of these Halifax accounts where your income is paid into? If so then I would advise opening up new bank accounts with a bank/building society that you don't owe money to and start getting your salary/benefits paid there instead.

You can negotiate with Halifax to freeze the interest and set up a repayment plan yourself or you could get some advice from one of the debt charities such as CAP UK or Step Change. If you are struggling to make ends meet each month then your existing debt management plan might need to be reworked or there might be another debt solution available to you.

Here is the MSE guide to Reclaiming Bank Charges.

You might also find it useful to complete a statement of affairs.

kennyruss72

Pixie - thanks for the advice..excellent ideas there


any recommendations on the account to open?


cheers


Kenny

kennyruss72

redux,


some food for thought will bear in mind when writing the letter:)


kenny

Pixie5740

I don't have any particular recommendations. Obviously you want to avoid the HBOS group because of the Halifax accounts but any other suggestions would depend on who you have the credit card debts with.

MSE has some information on the Best Current Accounts and Basic Current Accounts which you might find useful.

kennyruss72

Well made a start, opened a Santander account for me and the missus will do the same.


We have no connection ever with Santander and there is a local branch in the town. Also opted for no overdraft:)

kennyruss72

Well Santander just declined to open a basic bank account !!!!!!..


anyone..?

kennyruss72

Will look at the basic bank accounts now..

sourcrates

kennyruss72 wrote: »

Will look at the basic bank accounts now..

Try Coop, they do a basic "cash minder" account, that comes with a debt card, and no credit check.

poppasmurf_bewdley

kennyruss72 wrote: »

I was advised to move this across to this forum

Hi all, newbie - be gentle

Just totted up bank charges across 3 accounts (2 of mine, 1 missus) all halifax - I was horrified..

Kennyruss72 account 1 - overdraft £1k - total charges since Jan 2012 = £1326
Kennyruss72 account 2 - overdraft £2.5k - total charges since Mar 2009 = £2682
The Missus account - overdraft £2.65k - total charges since Jan 2010 = £3464

So in total so far £7500 in charges across the 3 accounts I am astounded.
It is a mixture of account fees, overdraft charges, planned and unplanned etc.

I have looked at various stcikies on this topic and really wondered what was my best way forward in an attempt to try and recover some of these charges, as it is a horrific amount of money...

any advice appreciated..

Our financial situation is not great and we have 5 credit cards on long term interest frozen payment plans (negotiated myself) and simply just scrape by each month..


kennyruss72

Somebody has to pay for this:

https://www.google.co.uk/search?safe=off&hl=en&site=imghp&tbm=isch&source=hp&biw=1366&bih=681&q=halifax+headquarters&oq=halifax+headquarters&gs_l=img.3..0i24.1657.6290.0.7574.20.15.0.2.2.0.295.1544.2-6.6.0....0...1ac.1.64.img..12.8.1552.ns0c-3ypbDc#imgrc=rZvNyMm8Fs--IM%3A

and this:
https://en.wikipedia.org/wiki/HBOS#/media/File:BlueLeany2008.jpg