Bank charges

daveboy

For the record I have been overdrawn, but I had an overdraft so didn't pay charges other than a small amount of interest.

Georgie_3

Yes i suppose I was making the bank to be a bad boy. As a matter of interest do you think student facilities should incur the same charges as ordinary bank accounts?

finnerty

daveboy wrote:

I've never been charged for an unauthorised overdraft. I've never been charged for going over a credit limit or for paying late.

I put that down to the way I was brought up.

Additionally, I check my account everyday so I know what is going on.

It can sometimes happen through no fault of your own... i was charged around £150 pound in charges a few years ago it was the dhss fault and i was not able to get a refund on bank charges or any money out of the dhss for causing it....The story was that my maternity pay finished and i had every thing payed directly into the bank i was sent a letter saying that income support was to commence from the day that the maternity pay stopped....but they didn't bother to pay it, so my direct debits were allowed to be taken out sending me over my limit it wasn't until my bank statment came through that i found out i hadn't been paid for a month....that was before i became an internet user and now i check my bank balance every day incase they decide to mess me about again.

mrcow

Georgie wrote:

I ama student and have incurred bank charges of £482 while using my card while over my overdraft. I was only £62 over my limit but my bank charges me £30 everytime I use my card. Some of the transactions were as little as £2.00, the most expensive was £15.00. My bank has a policy of only rejecting my card if you spend over £50 so therefore it was never rejected so I thought it was still ok to use it. Does anyone else think this is unfair, being charges £482 for only going £62 over my overdraft????

I would say that this is rather unusual (unless you've been absolutely terrible at managing your account for a much longer period and with larger amounts than implied). Normally a charge will only kick in when going over a limit subject to certain criteria:

1. Only one charge per day will apply (so you wouldn't be charged eg. £90 for three transactions if they all occurred on the same day)

2. Only if it takes you a certain amount eg. £10 further over your limit than you were before (so a £2 transaction wouldn't initiate a £30 charge).

Get the T&Cs of your particular bank account. Have a GOOD read of the charges section and see if either of the above (or similar) apply to your account and check if any of these £30 charges didn't follow as per T&Cs.

pin

Have a look at this:
http://forums.moneysavingexpert.com/showthread.html?t=68507

Start of rant,

However, regardless of how harsh this sounds, I don't have sympathy for people who complain when get go over their authorised overdraft.

People should learn and understand what and overdraft is before they start to complain about charges associated with them, especially when they are are in your terms and conditions.

I feel people in general have started becoming very, very lazy when it comes to reading terms and conditions. They normally contain everything you need to know in black and white about any contract you sign. However people start moaning this and that has happened while all the time it was set out clearly in the terms and conditions.

ALWAYS READ THE T&C's OF ANYTHING YOU SIGN

End of rant

mrcow

Aahhhh......pin

It wasn't so much a rant, rather just good sound advice!

Keith

Last month, i got 2 charges on an account I no longer use, to my horror I got another two charges this month, one was my paypal account the other was for the charge from the first payment making me overdrawn.

I called the bank, and was told to go into the Branch as my account was suspended.

I went into the branch and received no help, so I went home and phoned a number I was given by the clerk, despite trying numerous times I was always redirected. In the end I spoke to a nice woman, who I explained to that I needed helping and was on the brink of taking my banking elsewhere, having already moved my loan and credit card.

Three days later, my account is back in the black, and I am off to close it!

James240

Its alright willsnarf and georgie i have had remarks just like that from Daveboy in another post of mine. To be honest daveboy if ur going to put comments like "priceless" why do u bother replying to the post?

Are we all supposed to bow down to ur superior witty ability to make the original poster of this thread seem very small when all they are doing is asking for advice? i think not................

Perhaps u should think of how u word ur advice and if ur going to make comments like u have done perhaps u shouldnt post at all...............

James

Turning_into_scrooge

daveboy wrote:

I've never been charged for an unauthorised overdraft. I've never been charged for going over a credit limit or for paying late.

I put that down to the way I was brought up.

Additionally, I check my account everyday so I know what is going on.

I think its quite admirable that you have never had a bank charge but please, students find it hard enough today whithout harsh words and recrimminations I also check my bank account daily but due to the fact that i have been slaughtered by bank charges in the past

daveboy

Finnerty - that wouldn't happen to me because I wouldn't expect the DSS (or rather the tax payer) to pay for me to live.

James240 - I'm entitled to say what I think just as you are.