Alliance & Leicester change overdraft policy

PROLIANT

Stop crying over a fiver, the most you will pay will be £5 for using your overdraft, if you have an overdraft of say £1000 and are constantly over drawn you would pay ten fold in interest charges with any other bank.

SuiDreams

PROLIANT wrote: »

Stop crying over a fiver, the most you will pay will be £5 for using your overdraft, if you have an overdraft of say £1000 and are constantly over drawn you would pay ten fold in interest charges with any other bank.

What we are saying is £5 fee was more than you would pay for most bank accounts if you only go overdrawn by a small amout, when my overdraft was at its worst I wasn't overdrawn for a full month so I ended up paying more than double than I had been. Its especially annoying in situations like gemz £2.50 for a few quid for a few days what % would that work out as, think they wuld be better off with any other bank if those charging high % overdrafts

A lot of people aren't constantl overdrawn and only dip into it now and again, why should they pay the same amount as someone who has a constant £3000 overdraft

PROLIANT

SuiDreams wrote: »

What we are saying is £5 fee was more than you would pay for most bank accounts if you only go overdrawn by a small amout, when my overdraft was at its worst I wasn't overdrawn for a full month so I ended up paying more than double than I had been. Its especially annoying in situations like gemz £2.50 for a few quid for a few days what % would that work out as, think they wuld be better off with any other bank if those charging high % overdrafts

A lot of people aren't constantl overdrawn and only dip into it now and again, why should they pay the same amount as someone who has a constant £3000 overdraft

Because you would turn the tables if you did go over drawn by a high amount and still complain, ok so you go over by £10 for a week and it has cost you £5, if that is your spending habit then go to a bank that charges an interest rate on their O/D facility.

SuiDreams

PROLIANT wrote: »

Because you would turn the tables if you did go over drawn by a high amount and still complain, ok so you go over by £10 for a week and it has cost you £5, if that is your spending habit then go to a bank that charges an interest rate on their O/D facility.

I personally wouldn't alway pay my own way and if I borrowed that much would pay the charges without complaining as I'd only have myself to blame. I actually never plan to use my overdraft again, but have changed Banks to one with fairer charges for those who only have small overdrafts.

PROLIANT

SuiDreams wrote: »

I personally wouldn't alway pay my own way and if I borrowed that much would pay the charges without complaining as I'd only have myself to blame. I actually never plan to use my overdraft again, but have changed Banks to one with fairer charges for those who only have small overdrafts.

Fair enough then, but you see where I am coming from, swings and round abouts isnt it.

MarkyMarkD

gemz700 wrote: »

well i think that it's disgusting that A&L are charging these fees and I am now going through the process of leaving them.

This month there were a few 'anomolies' that went through my account. I have a £50 agreed overdraft. First a transaction came out taking me £2 in to my overdraft - i noticed this and transferred some funds from my savings to cover it. Then, another transaction came out taking me £11 in to my overdraft for 3 days before my salary went in.

A&L are charging me £2.50 for the benefit of using my AGREED overdraft. I very rarely use it and am annoyed that someone that was £3000 overdrawn for the same amount of time will only pay £2.50. I am also annoyed that i agreed this overdraft with them and they have the cheek to charge me to use it. They use the excuse that i am not paying debit interest but my debit interest never came to £2.50!!!!!!

Rubbish

I thanked this post in error because MSE's site was playing up - d'oh! I certainly didn't intend to thank it.

You are complaining about being charged £2.50. Perhaps you should get a sense of perspective?

And so what if someone else got charged the same amount - what business is that of yours?

And hardly anyone has a £3k authorised overdraft limit in any case.

Your comments boil down to "I don't see why I should pay anything for my banking". Well, on that basis I'd go into Tesco and take all the food off the shelves and tell them you think everything should be free too. And see how far that gets you.

gemz700

PROLIANT wrote: »

Stop crying over a fiver, the most you will pay will be £5 for using your overdraft, if you have an overdraft of say £1000 and are constantly over drawn you would pay ten fold in interest charges with any other bank.

If you are thinking like that then I expect many people will be tempted to go further overdrawn, thinking to themselves "the charge will be the same, whatever I take out" This is tempting people to get further in to debt.

I maintain my account well and rarely go overdrawn - I am not going to subsidise those who abuse their account. I am now in the process of switching

gemz700

MarkyMarkD wrote: »

I thanked this post in error because MSE's site was playing up - d'oh! I certainly didn't intend to thank it.

You are complaining about being charged £2.50. Perhaps you should get a sense of perspective?

And so what if someone else got charged the same amount - what business is that of yours?

And hardly anyone has a £3k authorised overdraft limit in any case.

Your comments boil down to "I don't see why I should pay anything for my banking". Well, on that basis I'd go into Tesco and take all the food off the shelves and tell them you think everything should be free too. And see how far that gets you.

God I really don't want to come on this forum for people to jump up my !!! if i give my point of view. You sound like a complete moron. Perhaps you work for Alliance and Leicester!

No, I shouldn't pay for an AGREED overdraft when other banks give them free. I don't mind paying debit interest but I am certainly not going to pay 50p a day even if I go 1p in to my AGREED overdraft.

PROLIANT

gemz700 wrote: »

If you are thinking like that then I expect many people will be tempted to go further overdrawn, thinking to themselves "the charge will be the same, whatever I take out" This is tempting people to get further in to debt.

I maintain my account well and rarely go overdrawn - I am not going to subsidise those who abuse their account. I am now in the process of switching

You knew the terms and conditions of the account so why sign up in the first place, ok so you get charged 50p per day for 1p well you wouldnt be complaining if you were £500 O/D would cost you £40 per month @ 8%.

Daz1

They have recently introduced this system which was not in effect when I joined up. Personally, I don't like it as I can sometimes go overdrawn by a little and end up getting stung the full whack. I do manage my account well and am always aware of what the balance is and hate going overdrawn anyway but when something unexpected crops up I may dip into it. With a daily % charge, I don't stress too much if, for example, I am £10 overdrawn but this new system stresses me out to know I will pay a relatively large fee for a relatively small amount. I read somewhere on here that for this system of charging to be worth it (for the customer at least), the overdrawn amout would have to be in the region of £800 (I could be wrong) but as I am never overdrawn by that amount, it really is not worth my while. I shall be closing it shortly (also because the high interest rate for 1 year on credit balances has just expired too)