Overdrawn and crippled by charges

blondie4281

My husband and I have become overdrawn in our Barclays Joint Account. We are being charged £100pm because of this. We feel the charges are too high in comparison to other banks, but are uncertain about how we might change accounts while owing with amount. How might we sort this out? We cannot take out a loan - we have one currently running which we are paying back successfully with my husbands bank - Lloyds, but we still have a way to go.

eskbanker

See the recommendations at http://www.moneysavingexpert.com/banking/cut-overdraft-costs but that sounds like it must be a pretty substantial overdraft to incur servicing costs at that level, are they consistent with the Ts & Cs of the account?

Dobbibill

A loan won't solve your problem, it will just move it.

Is this a planned overdraft? Or are you exceeding your overdraft limit?

Speak to Barclays and look at why you are incurring charges that are so high. Also address what caused you to become overdrawn.