Bank Account charges - Horrified - way ahead

ReadingTim

poppasmurf_bewdley wrote: »

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

Someone does.

Someone else also needs to appreciate that if they borrow money (ie have an overdraft) or have some sort of packaged account (that has a fee) then they're going to incur charges and interest associated with doing that. They'll also incur higher fees if they go o/d without prior agreement from the institution from whom they're borrowing money.

Now I'm not claiming banks haven't been overzealous with their charges in the past, but things have calmed down since 2009, which is the time from which the OP has totted up amounts they've paid. I also note that while the OP isn't having the easiest of times, he/she doesn't mention the monthly fees/charges, only the total, over 6 years.

Every little helps and all that, but it strikes me that the OP has only belatedly realised the cost of what they've been doing, and is basically trying it on. With this sort of attitude it's hardly surprising banks aren't always very understanding towards those who genuinely are in difficulties...

kennyruss72

Reading Tim.

The three accounts all have had £10/£15 package monthly fees at some point.

The Majority of the charges are planned overdraft fees, but there are probably 15-20 biggies ranging from £65-£185.

On at least 4 occasions I have written or phoned the halifax and explained the situation and only ever managed to get a payment holiday for a few months.

I went into the branch in person and had a meeting with the manager where I had applied for a loan to clear the overdrafts (it was clearly cheaper per month than the charges) - but I got refused as I was overdrawn. I was told that I would need to be 6 months of not being overdrawn before they would consider.

Sure I borrowed the money and I need to pay it back and if the outcome of the letter is that the Halifax will freeze the interest on the overdrafts, ring fence them and allow me to pay them back over several years - brilliant bring it on.

I am aiming high as my starting point and will see what they come back with...

With nearly £30k of credit card debt between us and constantly permanently overdrawn - I would consider that I was in some sort of genuine difficulties. All the credit card companies have accomodated me at 0%, (slowly paying them off) - all I ask of the Halifax is a helping hand. There is a lot I can do as well - I am now well aware of that!

cheers

Kennyruss72

System

This is out of date, Cashminder does have a credit check.

Probably Nationwide or Barclays as both will offer the basic account, if they can't offer the standard account online.

sourcrates wrote: »

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

kennyruss72

Managed to open a Santander Basic Account no problem - thanks

kennyruss72

Ok quick update with Halifax - they have been in touch.

They were keen to resolve the issue over the phone today.

Across my 2 accounts, the fee's, charges (unplanned & planned) amounted to nearly £4k.

They offered £337 (unplanned fees) and 6 month account charge freeze

Didn't really want to discuss the content of the letter and constantly put me on hold. He was very eager to pay the £337 into my account today, but I refused.

He didn't want to discuss what options were regarding coming to some sort of payment plan to reduce the overdraft % - just gave me another number.

They are following up the call with the same offer via letter, so I will have more time to digest.

Thoughts anyone?

kennyruss72

They have yet to contact my wife

sourcrates

kennyruss72 wrote: »

They are following up the call with the same offer via letter, so I will have more time to digest.

Thoughts anyone?

Yes, you have given them the opportunity to settle this matter amicably, and they have failed to do so.


I suggest you wait for the letter to arrive, then go to the financial ombudsman website, fill in, and download a complaint form, include a copy of there final letter, and get it banged in the post to them, this is your only recourse now.


Just by doing this, you will cost them an extra £500 (as they are charged a referral fee by the FOS) I would say that you have a more than good chance of getting a lot larger share of the money refunded, and possibly compensation on top.


The FOS work on the basis of fairness to both parties, was it fair of the bank to keep piling on the charges, whilst you were in financial difficulties, you have nothing to lose by doing this.

kennyruss72

Fanstastic reply sourcrates,

I will do exactly as you say and research the FOS complaints form

StrugglingYouth

ReadingTim wrote: »

Someone does.

Someone else also needs to appreciate that if they borrow money (ie have an overdraft) or have some sort of packaged account (that has a fee) then they're going to incur charges and interest associated with doing that. They'll also incur higher fees if they go o/d without prior agreement from the institution from whom they're borrowing money.

Now I'm not claiming banks haven't been overzealous with their charges in the past, but things have calmed down since 2009, which is the time from which the OP has totted up amounts they've paid. I also note that while the OP isn't having the easiest of times, he/she doesn't mention the monthly fees/charges, only the total, over 6 years.

Every little helps and all that, but it strikes me that the OP has only belatedly realised the cost of what they've been doing, and is basically trying it on. With this sort of attitude it's hardly surprising banks aren't always very understanding towards those who genuinely are in difficulties...

This ^

If the OP were in business and a customer owed him money would he be lenient and let that person off? I doubt it.

You agreed to their terms OP, no one forced you.

kennyruss72

StrugglingYouth wrote: »

This ^

If the OP were in business and a customer owed him money would he be lenient and let that person off? I doubt it.

You agreed to their terms OP, no one forced you.

StrugglingYouth I totally agree with your post. However....


The bank must share some of the responsibility along with me.


Like previously said I have contacted them on several occasions and explained my situation carefully and looked for some help - they only ever offered a few months rest bite and then they just picked up the charges baton again.
Even yesterday on the phone when I changed my tact to perhaps getting some sort of payment plan for clearing the overdrafts, they simply just gave me a helpline number for the Halifax. They wanted it resolved yesterday over the phone but were refusing to discuss any options other than for to accept the £337 refund and a 6 month freeze on charges.
Sure that might give me some breathing space and I may have managed to reduce my overdraft, but they would just pick up that charges baton again in 6 months and it would be the same Sh*t different day.


Previously they refused a loan to pay off the overdrafts - which was clearly the sensible thing to do - but the computer said no. I even went to the branch in person to make my case, and explain that the loan amount was less than the charges - but still they refused. If accepted the loan would have been 50% complete by now? - no common sense shown by the Halifax?


From memory as well as soon as you upgrade to the Platinum Rewards accounts with the Halifax they simply just increase your overdraft - is that responsible?


At no time did they do a review of my accounts and suggest that if I combined my overdrafts, both would be less than £2k thus saving me £1 a day for 6 years... Was there duty of care here?


I no longer have the platinum reward status on both these accounts, but still get charged a £10/£15 fee on these accounts per month - what is that for?


The charges are in proportionate - How can it be fair to charge circa £50 per month for a £1k overdraft? - I have no idea what that is in APR - but I would imagine that it is close to a payday loan company APR?


I have actually found DCA's much easier to deal with than the Halifax and more accommodating..


I am simply a cash cow for the Halifax and they seem pretty happy for it to remain that way. The safety net for me has never existed and it's just a case of shut up and pay up every month.


As sourcrates says I have exactly nothing to lose here - so why not pursue them?


With regard to your point of if I were a business... it's not like I have not paid them anything - Going back 10 years I have probably paid for these overdrafts twice over..


Happy to debate further StrugglingYouth and I again state that I must share some of the responsibility for my actions...


cheers


kennyruss72

sourcrates

Kenny,

Your always going to get the odd methodist portraying you as the bad guy.

The, "you borrowed it, you must pay it back brigade".

I have no time for them, this forum exists to provide help to people in debt, not to debate the rights and wrongs of the capitalist regime.

FOS is your next move now.

Need any help, PM. Me.