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  • FIRST POST
    • Former MSE Helen
    • By Former MSE Helen 27th Mar 14, 12:34 PM
    • 2,324Posts
    • 971Thanks
    Former MSE Helen
    MSE News: Barclays to revamp current account fees will you be better off?
    • #1
    • 27th Mar 14, 12:34 PM
    MSE News: Barclays to revamp current account fees will you be better off? 27th Mar 14 at 12:34 PM
    "Barclays current account customers who dip into their overdraft are to be charged less from 16 June"

    Read the full story:

    Barclays to revamp current account fees will you be better off?



    Click reply below to discuss. If you havent already, join the forum to reply. If you arent sure how it all works, read our New to Forum? Intro Guide.

Page 1
    • sax11
    • By sax11 27th Mar 14, 12:55 PM
    • 3,095 Posts
    • 20,222 Thanks
    sax11
    • #2
    • 27th Mar 14, 12:55 PM
    • #2
    • 27th Mar 14, 12:55 PM
    In a nutshell - No i will be worse off as i start a month 1000 od so will be charged 22.50 a month regardless, which is more than my reserve fee
    • lisa2310
    • By lisa2310 27th Mar 14, 1:39 PM
    • 116 Posts
    • 94 Thanks
    lisa2310
    • #3
    • 27th Mar 14, 1:39 PM
    • #3
    • 27th Mar 14, 1:39 PM
    Yeah ill be worse off too, mine is 600 and always go into it by around 550. Looks to me like most people will be worse off unless you have a premier account where overdrafts are interest free up to 1000 however you can only hold this account if annual income is more than 75,000
    • bell
    • By bell 28th Mar 14, 10:10 AM
    • 303 Posts
    • 3,165 Thanks
    bell
    • #4
    • 28th Mar 14, 10:10 AM
    • #4
    • 28th Mar 14, 10:10 AM
    These fees have been creeping up for each bank since the won the penalty charge case against the OFT.

    It still feels very much like a penalty charge in some cases, but all wrapped up in account fee structure instead. For instance, how can they justify a cliff edge where at 999 OD it costs you 0.75 and at 1,000 it costs 1.50.

    The banks can just seemingly change these T&Cs with absolute impunity.
    Total Value of wins in 2009: 900 appox. 2010: 730

    Wins 2011: Carlisle Utd Tickets (twice!), Baby Food Hamper, Straighteners, Chugginton Toy
  • innovate
    • #5
    • 28th Mar 14, 12:32 PM
    • #5
    • 28th Mar 14, 12:32 PM
    Just don't use an overdraft and it will cost you nothing.
    • Herbalus
    • By Herbalus 28th Mar 14, 2:25 PM
    • 2,373 Posts
    • 2,082 Thanks
    Herbalus
    • #6
    • 28th Mar 14, 2:25 PM
    • #6
    • 28th Mar 14, 2:25 PM
    Just don't use an overdraft and it will cost you nothing.
    Originally posted by innovate
    Easier said than done.

    To those who take offence by that comment, and there will probably be a few because nobody can simply magic away an overdraft that they feel unfortunate circumstances got them into, the logic is sound, even if it appears blunt.

    If I had an overdraft, I wouldn't complain that the banks are putting up charges - I'd use higher charges to motivate me to get rid of the overdraft in the first place.
    • YorkshireBoy
    • By YorkshireBoy 28th Mar 14, 3:03 PM
    • 30,972 Posts
    • 18,986 Thanks
    YorkshireBoy
    • #7
    • 28th Mar 14, 3:03 PM
    • #7
    • 28th Mar 14, 3:03 PM
    These fees have been creeping up for each bank since the won the penalty charge case against the OFT.
    Originally posted by bell
    As I, and many others on here, said in the lead up to the court case..."be careful what you wish for". The trouble is that many others couldn't see this coming!

    One outcome of the court case was clearer fees for using an overdraft facility, so gone are the 19.89% EARs (who amongst us could accurately define EAR without googling it?...and who could forecast their costs on a fluctuating debit balance throughout the month?) and in come 50p/1/2/3/5 per day fees (which are nice and clear to understand...I mean everyone can multiply two numbers together can't they?).
    • lxworld
    • By lxworld 28th Mar 14, 3:37 PM
    • 67 Posts
    • 7 Thanks
    lxworld
    • #8
    • 28th Mar 14, 3:37 PM
    Petition
    • #8
    • 28th Mar 14, 3:37 PM
    Hi,


    I've just created this petition on Change.org https://www.change.org/en-GB/petitions/barclays-bank-call-to-action#


    Your support is appreciated
    • Herbalus
    • By Herbalus 28th Mar 14, 4:02 PM
    • 2,373 Posts
    • 2,082 Thanks
    Herbalus
    • #9
    • 28th Mar 14, 4:02 PM
    • #9
    • 28th Mar 14, 4:02 PM
    Hi,

    I've just created this petition on Change.org https://www.change.org/en-GB/petitions/barclays-bank-call-to-action#

    Your support is appreciated
    Originally posted by lxworld
    You might have more credibility if you'd spelt "overdraft" correctly on your petition (as opposed to "overdraught" as you've written).
    • lxworld
    • By lxworld 28th Mar 14, 5:44 PM
    • 67 Posts
    • 7 Thanks
    lxworld
    Thanks for the heads up Herbalus
    • Pincher
    • By Pincher 29th Mar 14, 12:58 AM
    • 6,516 Posts
    • 2,491 Thanks
    Pincher
    Overdraught
    Overdraft is a courtesy measure, like a bar tab.

    There is no reason why a pub should let you drink without any guarantee that you will pay them back. If they did, they will have a lot of OVER-DRAUGHTED beer.
  • P254
    I received my letter a couple of hours ago, and I don't think it's done my blood pressure any good - literally.

    Everything went belly up for me when the recession struck, and I've been struggling (but managing - just) ever since. I don't use my Barclays accounts anymore, but do have 2 overdrafts with them which I have been very slowly working away at by paying in a little over the interest every month.

    This is dreadful news for me as my payments will go up from 45 a month to 69.75 - and I can't see how I can ever pay anything off the actual debt. So will I owe Barclays till the day I die?

    I'm limited in ways that I can actually raise any more money due to age and health. However, I'm trying. Let's hope things look a little better tomorrow, but today - I'm gutted.
    • lxworld
    • By lxworld 7th Apr 14, 11:52 AM
    • 67 Posts
    • 7 Thanks
    lxworld
    Thanks for everyone's support so far (re: https://www.change.org/en-GB/petitions/barclays-bank-call-to-action)


    Don't forget to tell your friends and family!
  • Blackdog1
    Barclays charges
    I love all the people that come on here gloating about how "you should pay it off and live within your means"

    well to you people i can only assume that you work in the financial sector and have been immorally leeching off of the majority for your entire life, or daddy got you the job after you finished dossing around at one of the elitist private schools, having never actually worked hard in your life.

    this measure preys on those people that struggle to make ends meat. my partner and i both work, well over our designated hours to support our family,

    We have good respectable jobs but still struggle to pay for our lives we live on 31 a week for food to give you an idea (always on the hunt for a bargain. (its always a massive victory when we beat that) we are putting money aside and paying off debts incurred whilst my wife was pregnant/maternity but this is another kick from the greedy bankers. It makes you realise that they aren't interested in customer service, just serving the elites.

    If they hadn't have screwed the system in the first place then we would have all been better off. (they always conveniently forget that part). I haven't had a pay rise in four years yet the cost of living has risen by a quarter since the economic crisis.

    Once again if you're poor or at least trying to better yourself you get a kicking, if you have money you're fine.

    Needless to say i'll be leaving Barclays and never returning. I will be out of debt by next year and so another Bank can benefit from my hard work rather than these parasites.
    • FireWyrm
    • By FireWyrm 7th Apr 14, 1:05 PM
    • 6,432 Posts
    • 12,163 Thanks
    FireWyrm
    I've got nothing better to do...I'll bite.

    I love all the people that come on here gloating about how "you should pay it off and live within your means"
    Originally posted by Blackdog1
    That is the bottom line. It is how we as a society have ALWAYS worked until very recently. It is how 99% of the rest of the world works. If you dont have the money, you cannot buy it. Credit is a privilege, not a right.

    well to you people i can only assume that you work in the financial sector and have been immorally leeching off of the majority for your entire life, or daddy got you the job after you finished dossing around at one of the elitist private schools, having never actually worked hard in your life.
    Originally posted by Blackdog1
    I was 15 years 8 months when I started work. I took over the house (after my mother left for warmer pastures) and paid off my parents debts, their mortgage all whilst simultaneously keeping the same leaking roof over mine and my fathers head....alone. I had no family, no friends, no hope. I made friends with people who showed me stuff. I blagged my way from job to job up the ladder taking anything that came. Night shift, day shift, sometimes back to back, just to keep some food in the cupboard and the creditors from the door. I've been hungry more times than you've had hot dinners and that isnt a cliche. I've literally starved for weeks on end while we struggled from one month to the next. I've literally begged door step collectors (who werent all nice and fluffy back then like they are now) not to take what little we had. I've waded in bins behind big food stores collecting OOD food and we've eaten it. I've walked miles looking for jobs in the pouring rain because I didnt have the money for a bus even.

    You have no idea what you are talking about and even less reason to generalise or speculate on the personal circumstances of those who say...live within your means.

    this measure preys on those people that struggle to make ends meat. my partner and i both work, well over our designated hours to support our family,
    Originally posted by Blackdog1
    What do you want...a medal? We all do what we must to survive.

    We have good respectable jobs but still struggle to pay for our lives we live on 31 a week for food to give you an idea (always on the hunt for a bargain.
    Originally posted by Blackdog1
    Perhaps it is time you looked closely at your finances and how much you are wasting. I take it you have no such things as a TV, Sky, Mobile, expensive car (anything over 600), no hire purchase etc...or do you simply have debts due to a lifestyle you couldnt afford then and cannot now which is eating into your budget slack?

    paying off debts incurred whilst my wife was pregnant/maternity but this is another kick from the greedy bankers.
    Originally posted by Blackdog1
    One generally doesnt tend to incure large commitments (children) when you are already struggling. Perhaps you should have thought of that first.

    It makes you realise that they aren't interested in customer service, just serving the elites.
    Originally posted by Blackdog1
    Rollocks. They serve themselves just as you do by borrowing money to fund a lifestyle you cannot afford and bleating that they want it paid back.

    If they hadn't have screwed the system in the first place then we would have all been better off.
    Originally posted by Blackdog1
    Do you really have any idea how finance works or are you just parrotting what you read in the popular press. I suggest you read a book or two before forming an opinion. The credit crunch was the result of world wide problems that have existed since the 70s at least.

    . I haven't had a pay rise in four years yet the cost of living has risen by a quarter since the economic crisis.
    Originally posted by Blackdog1
    The cost of money has devalued as the government tries to keep us from absolute bankrupsy. Believe me, you wouldnt like the alternative had they allowed the banks to collapse. You think life is hard now, try needing a wheelbarrow to buy a loaf of bread and see what that is like. Greece is an excellent example of the hell that happens when a country goes bankrupt. The fact that you have a slightly harder time of it...well, get over it. You are already a million times better off than 90% of the rest of the world. Your belly is full, your house solid and your wife isnt dying of a disease that a 20p pill could cure.

    Once again if you're poor or at least trying to better yourself you get a kicking, if you have money you're fine.
    Originally posted by Blackdog1
    Grow up.

    Needless to say i'll be leaving Barclays and never returning. I will be out of debt by next year and so another Bank can benefit from my hard work rather than these parasites.
    Originally posted by Blackdog1
    Banks do not exist for your benefit. They offer a service which you are free to take advantage of, or not as the case may be. Get over it.
    Debt Free! Long road, but we did it
    Meet my best friend : YNAB (you need a budget)
    My other best friend is a filofax.
    Do or do not, there is no try....Yoda.

    [/COLOR]
  • Blackdog1
    Thanks for that
    Thanks for that wonderfully honest appraisal, once again the internet provides a good solid place where people are willing to understand each others viewpoints.

    I personally was just letting off steam for what i see as yet another opportunity for a corporation to exploit people who (through theirs or others faults) are in debt. People do not like having an overdraft and its not a choice chosen lightly. however for Barclays to change their end of the bargain is frustrating. (if not totally unexpected)

    I'm sorry that i dismay you with my thoughts, and yes perhaps i was venting a little.

    Forums usually are for likeminded people or those who wish to offer constructive comment.

    I am frustrated with Barclays and shall be moving my finances, that's my entire statement. (with a few perhaps misplaced observations, for entertainment purposes)

    I'm not entirely sure of your motivations for your reply, other than perhaps points scoring or trolling i guess. in which case congratulations.
    • FireWyrm
    • By FireWyrm 7th Apr 14, 1:51 PM
    • 6,432 Posts
    • 12,163 Thanks
    FireWyrm
    Thanks for that wonderfully honest appraisal, once again the internet provides a good solid place where people are willing to understand each others viewpoints.
    Originally posted by Blackdog1
    Some ill judged comments require a healthy dose of cold water.
    Just because the popular press says it is so, doesnt make it so.

    If you really want to make a change to your life, come over to where I hang out...the Debt Free Wannabe board. We can help you over there, but only if you are honest and committed.

    I personally was just letting off steam for what i see as yet another opportunity for a corporation to exploit people who (through theirs or others faults) are in debt.
    Originally posted by Blackdog1
    Mostly the consumers fault. Sorry. No one put you in debt, each and every decision from age 18 put you there, not some nameless faceless 'banker'. Like alcaholics anonymous...Hi, my name is Blackdog and I'm in debt...this is your first step to freedom.

    People do not like having an overdraft and its not a choice chosen lightly.
    Originally posted by Blackdog1
    Yes it is. It is almost the default position when opening an account these days. My parents were mortified by their puny 350 overdraft back in the 80s. I can rustle up 8000 on OD without even breaking a sweat.

    however for Barclays to change their end of the bargain is frustrating. (if not totally unexpected)
    Originally posted by Blackdog1
    Frustrating perhaps, but ODs have always been payable on demand. Always.

    You have the right to pay it off entirely and move your business elsewhere. Those are the terms of this type of lending and always have been.

    I'm sorry that i dismay you with my thoughts, and yes perhaps i was venting a little.
    Originally posted by Blackdog1
    Really.



    I'm not entirely sure of your motivations for your reply, other than perhaps points scoring or trolling i guess. in which case congratulations.
    Originally posted by Blackdog1
    Look under my avatar...does that seem like the behaviour of a troll?

    Come over to DFW. Let us help you out of this for real.

    To make a start, if you wish, you can download my budgeting spreadsheet from here to get you started : https://www.dropbox.com/sh/58m07i0jklqny0e/n3c1E0QUVw
    Last edited by FireWyrm; 07-04-2014 at 1:56 PM.
    Debt Free! Long road, but we did it
    Meet my best friend : YNAB (you need a budget)
    My other best friend is a filofax.
    Do or do not, there is no try....Yoda.

    [/COLOR]
  • Blackdog1
    Thank you, I'll take you up on that offer. I understand the cold water even if it was a bit of a surprise at the time!

    Money is always a sensitive issue for everyone, but i appreciate the considered response.

    I think I can be honest about my finances, every day i make steps towards that great debt free day, however yours and those of others would be appreciated on how i can improve speed up the process
    • FireWyrm
    • By FireWyrm 7th Apr 14, 2:02 PM
    • 6,432 Posts
    • 12,163 Thanks
    FireWyrm
    Thank you, I'll take you up on that offer. I understand the cold water even if it was a bit of a surprise at the time!
    Originally posted by Blackdog1
    Start a thread of your own. I'll be watching for you.

    Money is always a sensitive issue for everyone, but i appreciate the considered response.
    Originally posted by Blackdog1
    It has been a loathsome burden of mine for 20 years. I'm not alone and you wont be either.

    I think I can be honest about my finances, every day i make steps towards that great debt free day,
    Originally posted by Blackdog1
    Possibly not quite as honest you think. I reckon I am honest, but until you actually go through the steps you wont believe your capacity for self denial and dishonesty. I dont think you are Mother Teresa incarnate, so I'm guessing, you are probably like most people when they first get started. You'll be shocked to the core.

    however yours and those of others would be appreciated on how i can improve speed up the process
    Use this to see just where you are and where you could be : http://www.whatsthecost.com/snowball.aspx
    Debt Free! Long road, but we did it
    Meet my best friend : YNAB (you need a budget)
    My other best friend is a filofax.
    Do or do not, there is no try....Yoda.

    [/COLOR]
  • Blackdog1
    Yep i'm certainly not Mother Theresa and perhaps my misplaced comments are frustration brought about by my own profligacy!

    thanks for the brief advice, I'll take on that calculator and start a thread! I can confess to a fair bit of Ostrich syndrome.
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