Housing benefit

Mariolanza

Hello

I have been in receipt of a very small housing benefit for 5 years.

I am also in receipt of a foreign pension.

When the pension is changed from Euros to Pounds Sterling,  my bank charges a monthly  fee of £10.

The benefit office has always paid my benefit based on the pension paid AFTER the deduction.

On Monday, I was notified that they had made an error and would now pay my benefits based on the initial figure.

I told them it is unfair as the bank pockets the £10, not me and why should I be penalised.  

So now, I have lost not only my winter fuel allowance but also a substantial amount of housing benefit.

HillStreetBlues

How does the £10 fee work? Would that include all payments paid in Euros into your bank, or is it confined to just that pension?

Mariolanza

The bank charge me £10 a month to change the Euros into Pound Sterling. So if I receive, say £700 a month, the bank hold back £10 and pay me £690.
But the council say I have received the whole £700.

elsien

You have received the whole 700. That is what hits your bank account before the fee is deducted. 

kingosa

I was finding way to save money with knowledge sharing

peteuk

Find a bank with zero charges or less then what your paying at the moment, some will charge a % so it might work out less.  Your choice, you dont need to stay with that bank.

Mariolanza

peteuk said:

Find a bank with zero charges or less then what your paying at the moment, some will charge a % so it might work out less.  Your choice, you dont need to stay with that bank.

Thank you but I am sure all banks charge for this service (pressing a key on their calculator).

I realise the initial amount is paid into my account but because of the bank's greed, I lose out.

I'm surprised the housing department hasn't decided to work their way 4 years' back to claim even more.

kaMelo

But they don't all charge the same. HSBC's global money account gives decent exchange rates with no charges, that's one example but there are many others. If you don't like paying your bank for pressing a key, find a different one.

peteuk

Mariolanza said:

peteuk said:

Find a bank with zero charges or less then what your paying at the moment, some will charge a % so it might work out less.  Your choice, you dont need to stay with that bank.

Thank you but I am sure all banks charge for this service (pressing a key on their calculator).

I realise the initial amount is paid into my account but because of the bank's greed, I lose out.

I'm surprised the housing department hasn't decided to work their way 4 years' back to claim even more.

Check out starling bank.  No fee for sending/receiving euros.