Overdraft Charges

paulmac57

Hi, at the moment i Bank with Halifax, i currently have my Benefit paid into my current account. I have a £100.00 overdraft which i use, i have to pay a charge of £1.00 a day to use this. would i be able to claim this back.

colsten

The only way to avoid paying for an overdraft is not to use one.

Dan83

No, you will have to pay.

Look at some other banks, some offer interest free over drafts on a set amount. I can't name banks and numbers off the top of my head, but I have seen it.

jonesMUFCforever

A lot of banks will not lend money to a customer on benefits.

slink85

try to change to a halifax reward account, and get your overdraft spending to below £50 and you'll pay no fees because of the £50 buffer on the account, and it also doesn't charge for things like bounced direct debits

Westie983

slink85 wrote: »

try to change to a halifax reward account, and get your overdraft spending to below £50 and you'll pay no fees because of the £50 buffer on the account, and it also doesn't charge for things like bounced direct debits

This is incorrect, the basic bank account doesn't charge for returned DD, but the reward and the ultimate reward account does.

grumbler

Westie983 wrote: »

This is incorrect, the basic bank account doesn't charge for returned DD, but the reward and the ultimate reward account does.

http://www.halifax.co.uk/bankaccounts/overdrafts/?pagetabs=3
"We refuse a payment from your account because there is not enough money in your account. - Nil".

With the buffer of £50 this still attracts fees if not brought back into credit by 3:30,

Yes, but this is if the DD is paid, not bounced.

YorkshireBoy

Westie983 wrote: »

This is incorrect, the basic bank account doesn't charge for returned DD, but the reward and the ultimate reward account does.

To say you work for Halifax, you do seem to get an awful lot wrong! What exactly do you do there?

Westie983

grumbler wrote: »

Yes, but this is if the DD is paid, not bounced.

This assumes the OP is using the OD and being charged because the DD has been paid, hence my post.

grumbler

Westie983 wrote: »

..., hence my post.

So, what exactly was incorrect then?

Westie983 wrote: »

Originally Posted by slink85 try to change to a halifax reward account, and get your overdraft spending to below £50 and you'll pay no fees because of the £50 buffer on the account, and it also doesn't charge for things like bounced direct debits

This is incorrect, the basic bank account doesn't charge for returned DD, but the reward and the ultimate reward account does.

pinkdalek

jonesMUFCforever wrote: »

A lot of banks will not lend money to a customer on benefits.

Yes they will, they just are specific as to what benefits can be accepted.