Abbey charges unfair?

aimingforadebtfreelife

I thought with the ongoing bank charges saga the banks might have brought down their overdrawn fees. In error which I admit was my fault a DD went out 1 day before I got paid - it was a £4.65 DD and sent me £1.36 overdrawn. The debit was rejected and I was charged £38 by Natwest - after calling them and advising them I thought the charge was unfair for the amount they reversed it. :mad:

Dylanwing

It's not only the charge, it's the hassle of dealing with the DD beneficiary! I had similar and RBS told me they bounced a £5 DD 'As you could not afford ir'. So I pointed out that as I could not afford £5, I could not afford the £30 fee! The RBS girl was unimpressed by my logic.

BlondBoy

Noh/Masonic

Thanks for both of your responses. I think that, ultimately, while I do genuinely see your points, Masonic is right in that it's the size of the fee for the service as against the perceived value it provides that causes me the intellectual problem. If, incontrovertibly, it cost £140 to make those decisions over £20, I wouldn't say it was unfair. But I think we all know that isn't the case.

As a by the by, interesting to see Lloyds TSB announcing they're going to start sliding scale charges from November. Very much a step in the right direction, I think. So that's Lloyds and HSBC who are making charges more proportional to the unauthorised overdraft. Hopefully others will follow suit, regardless of the OFT test case.

jonesMUFCforever

BlondBoy wrote: »

Noh/Masonic


As a by the by, interesting to see Lloyds TSB announcing they're going to start sliding scale charges from November. Very much a step in the right direction, I think. So that's Lloyds and HSBC who are making charges more proportional to the unauthorised overdraft. Hopefully others will follow suit, regardless of the OFT test case.

You wait until you see the small print. I guarantee you that customers will pay at least the same as now if not a lot lot more!
eg overdraft fee £15, if you are more than £100 over your approved limit £20 per day (including weekends and bank holidays!)until you return your account to order to the tune of a maximum of £200 per calendar month.:eek:

BlondBoy

Gosh - I stand corrected.

Like the principle, but not so keen on the practice then!

Dylanwing

Thanks EJ - I looked at the press publicity and that bit was not mentioned. Somehow I guessed that Banks would not be the ones losing out! Should be good for Money Shop or Cash Til Payday loans as they are a lot cheaper!

YorkshireBoy

Dylanwing wrote: »

Thanks EJ - I looked at the press publicity and that bit was not mentioned.

The Telegraph had the detail on their website over the weekend...

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/09/08/cmlloyds08.xml&page=1

The new fee structure is on page 2 (of 3).

Dylanwing

I only read page 1 of that report..........