Halifax Cardcash Overdraft?

Miroslav

I'm hoping for some advice please on behalf of someone else who has one of these Halifax Cardcash accounts (they say it's for 16-17 year olds).

We weren't aware she could use an overdraft and she went to the bank today and found she was £8 in the red, so her two previous transactions should not have gone through anyway. She didn't realise she was so low, or indeed in the red.

Looked all over Halifax and from what we can see, there is no overdraft? There may be a £10 buffer but what we really want to know is, what are the charges going to be for going overdrawn?

She went into the red on Wednesday 30 December but only rectified it by paying in £20 today.

Thanks for any help. She is concerned as she has very little money coming in.

Nebulous2

The account conditions should list any charges for going overdrawn.

It is possible that some of the transactions she made were off-line. Meaning the place she made the transaction didn't have access to the bank system at the time, but let the transaction go through anyway - more likely with small transactions.

The bank wont like it very much though and might complain. They cannot pursue a debt from an under 18 and will not want to put themselves at risk.

At a flying guess I'd say nothing much will happen for a one-off but repeat behaviour could lead to taking away or cancelling the card.

Miroslav

Thanks for the response.

I've managed to find this for Cardcash

http://static.halifax.co.uk/assets/pdf/bankaccounts/pdf/cardcash-expresscash-guide.pdf

It seems the penalty is 'Nil'.

We'll wait to hear from them and see if there is any charge. As I say, she put money in today to take the debt away so hopefully they will be kind.

20aday

Is the person in question under 18?

If so they won't be charged any fees or interest for the planned overdraft.

From the link in your post:

There is no debit interest to pay if you are aged under 18.

YorkshireBoy

20aday wrote: »

Is the person in question under 18?

If not, they may have been migrated to Easycash, or their standard Current Account.

Westie983

There is no overdraft available on the card cash accounts.

Your daughter has gone overdrawn on her accounts due to pending transactions. There is no fee for card cash accounts only return DD fee of £10 for each one. (max of three a day)

So your daughter will be okay and she has now put the account back into credit.

I would suggest she downloads the halifax banking app and then she can view her balance before making transactions, or alerts when her account balance gets to a certain level.

All above is assuming she is under 18.

If she is over 18 then the unauthorised overdraft debit interest fee is 2.2% a month and she will be notified of this fee at the end of January, but this would mean she needs to upgrade to a easycash account.