Has MSE caused my overdraft rate to increase by 24%? 14 January at 6:19PM edited 30 November -1 at 12:00AM in Budgeting & Bank Accounts 81 replies 4.1K views

Silver_Queen

Did you sign up to text alerts on your phone?

Malkytheheed

DJMC wrote: »

"I was woken this morning at 7.04am by your text advising me I was about to utilise my arranged overdraft.
I understand why you now warn of the extortionate rate charged for overdrafts, but 7.04am is not acceptable.
You should not be contacting customers at unreasonable times. Please refer to FCA handbook S7.9.4.
I will accept £100 in compensation on this occasion, for disturbing me at an unreasonable hour.
I can forward a copy of the text if you require it.
Many thanks."

Starting to think this whole thread is a troll thread now.
Firstly... What on earth are you doing.
Secondly. 7:04 is not in any way an "unreasonable time".
Legally in fact "Night hours are 11.00 pm until 7.00 am" in the UK.

So you don't have a leg to stand on.

eskbanker

DJMC wrote: »

7.04am is not acceptable.
You should not be contacting customers at unreasonable times.

I'm guessing they'll disagree that 7am is unreasonable, hence https://www.nationwide.co.uk/support/support-articles/faqs/understanding-unarranged-overdraft-text-alerts:

We generate our alerts at 3am based on data available at midnight (and delay sending until a reasonable hour in the morning to avoid waking you too early)

born_again

DJMC wrote: »

As has been said, it was upped in November. I complained and NW replied I would have accepted the T&Cs online via a chck box, as per my previous post.

Ouch.
Not aware of that as HSBC despite announcing the change in rate have not introduced it yet.

Assumed that they were all going to wait till 06/04 to do it.:rotfl:

abz88

DJMC wrote: »

My Nationwide VISA payment, around £6k - I pay it off monthly of course - went out today and NW sent me a text to warn me of the 39.9% overdraft rate unless I pay in funds (as I intend to) by midnight tonight.

They've never done that before. Guilty conscience perhaps?

Anyway... as they sent the text at 7.04am, and it woke me up, I've complained:

"I was woken this morning at 7.04am by your text advising me I was about to utilise my arranged overdraft.
I understand why you now warn of the extortionate rate charged for overdrafts, but 7.04am is not acceptable.
You should not be contacting customers at unreasonable times. Please refer to FCA handbook S7.9.4.
I will accept £100 in compensation on this occasion, for disturbing me at an unreasonable hour.
I can forward a copy of the text if you require it.
Many thanks."

Go on... say "well, you could have switched your phone off overnight or disabled texts" and I'll reply a) THEY could have read the rule book and b) my father is at death's door in a nursing home so I keep phone, and texts, enabled. There, saved you from feeling bad eh?

7.9.4 states, "A firm must not contact customers at unreasonable times and must pay due regard to the reasonable requests of customers (for example, customers who work in a shift pattern) in respect of when, where and how they may be contacted."

07:04 is not an unreasonable time, its when most delivery companies have their first delivery and the average UK person is awake at 07:00. Had you previously made a request not to be contacted in the morning?

abz88

Malkytheheed wrote: »

Oh.. and also, the FCA handbook doesn't have a section 7.9.4. It goes from Section 7.1 to section 8.1. So not a clue what you are on about.

Not that I agree at all with OP that 07:00 is unreasonable, but they are right about 7.9.4, its under CONC Consumer Credit sourcebook section (its confusing, but the number re-starts for each section)

eskbanker

abz88 wrote: »

Not that I agree at all with OP that 07:00 is unreasonable, but they are right about 7.9.4, its under CONC Consumer Credit sourcebook section (its confusing, but the number re-starts for each section)

Indeed, and CONC chapter 7 is specifically about "Arrears, default and recovery (including repossessions)" so the reference to customer contact within that chapter should be interpreted in that specific context.

CONC 7.9.1 makes it fairly clear that the contact referred to is primarily phoning (to pursue arrears, etc) rather than routine automated texts:

A firm must ensure that a person contacting a customer on its behalf explains to the customer the following matters:

(1) who the person contacting the customer works for;
(2) the person's role in or relationship with the firm; and
(3) the purpose of the contact.

DJMC

Malkytheheed wrote: »

Starting to think this whole thread is a troll thread now.
Firstly... What on earth are you doing.
Secondly. 7:04 is not in any way an "unreasonable time".
Legally in fact "Night hours are 11.00 pm until 7.00 am" in the UK.

So you don't have a leg to stand on.

When did you join the forum? When did I join?
Who can't find FCA rules?
Who sets their alarm to 8am - me.
Legal night hours? You refer to noise nuisance from houses and premises as defined by local authorities. I'm taking about banking rules.

Who's the Troll?

DJMC

eskbanker wrote: »

I'm guessing they'll disagree that 7am is unreasonable, hence https://www.nationwide.co.uk/support/support-articles/faqs/understanding-unarranged-overdraft-text-alerts:

That last quote is really helpful, but I can't find it on the page you linked to. Could you please advise under which heading it appears?

They've done precisely what your quote says they wouldn't do - wake me.

:beer:

DJMC

abz88 wrote: »

7.9.4 states, "A firm must not contact customers at unreasonable times and must pay due regard to the reasonable requests of customers (for example, customers who work in a shift pattern) in respect of when, where and how they may be contacted."

07:04 is not an unreasonable time, its when most delivery companies have their first delivery and the average UK person is awake at 07:00. Had you previously made a request not to be contacted in the morning?

My alarm is set to 8am. I usually get up at 8.30. I wouldn't expect any FCA governed organisation to contact me outside 9am - 9pm. And to back me up further...

FCA MCOB 3A.4.2 refers to unsocial hours being "on a Sunday or before 9am or after 9pm on any other day."
Source: https://www.handbook.fca.org.uk/handbook/MCOB/3A/4.pdf

I'm sure if I call FCA tomorrow (after 9am) they'll agree this is the general rule. Is a text a "call" - well that may be in question but 3A.4.1(4) says a communication may not be made at an unsocial hour and a text is a communication.

I have made no request not to be called before 9am as I know it's against the rules. Neither have I opted in to text alerts (to my knowledge) and these have only started today, the day I am briefly overdrawn under the new 39.9% regime.