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    • Nanako
    • By Nanako 2nd Dec 17, 5:07 PM
    • 15Posts
    • 0Thanks
    Nanako
    Unarranged Overdraft Fees: Help me find a better bank
    • #1
    • 2nd Dec 17, 5:07 PM
    Unarranged Overdraft Fees: Help me find a better bank 2nd Dec 17 at 5:07 PM
    I am currently an account holder with Halifax Bank of Scotland https://online.bankofscotland.co.uk I never chose them, my grandmother made me make an account when i was 16. I had no idea what i was doing. 15 years later, i still don't. I know !!!!!! all about banks.

    I'm currently unemployed, living on jobseeker's allowance (140 per fortnight) and right now i'm fuming because my bank has just stolen 30 from me, for an unarranged overdraft fee.

    I've no idea why, i'm still trying to get in contact to figure out what's happening, but i don't fancy my chances of getting that money back. This isn't even the first time, they've stolen hundreds from me over the past decade.
    I thought the point of a debit account was to prevent you getting in debt - that nothing would happen if you didn't have enough money for something. But this bank keeps charging me fees every time a payment tries to come out when i don't have the money to cover it. Usually its 10 and thats bad enough, but now it's inexplicably increased to 30 I don't even know what's going on, i budgeted carefully this month, i just paid 70 to my ISP and i should have 20 left. instead i have nothing and the ISP hasnt even been paid.

    i'm so sick of this bank, i'm struggling to manage every penny and they just steal a huge chunk of my money like its nothing. Ive been on the phone for 30 minutes trying to get an answer and im still on hold. !!!! this, i'm done with these people

    What can i do about this? Is there a better bank? Are there any that don't do this? Or at least, charge less than the absurd 30 this bank is charging me now. HBOS has had 15 years of custom from me, and they've brought me nothing but pain and misery. Frankly i'd be better having cash in a sock drawer.

    Give me some recommendations. I have a low income and inconsistent expenditure. Sometimes money isnt in the bank when its expected to me. I need a bank that isn't going to rob me for an inconvenience.

    Looking for recommendations for banks that have no unplanned overdraft fees, or at least less than this. If i don't have the money in the account for something then the bank should tell them "sorry, but no" and let me deal with it
    Last edited by Nanako; 02-12-2017 at 5:27 PM.
Page 1
    • KJSmith
    • By KJSmith 2nd Dec 17, 6:31 PM
    • 141 Posts
    • 76 Thanks
    KJSmith
    • #2
    • 2nd Dec 17, 6:31 PM
    • #2
    • 2nd Dec 17, 6:31 PM
    Stolen? Strange choice of words given that the fees you have incurred concern an unplanned overdraft i.e. where you have taken the bank's money without agreeing it beforehand.

    Halifax and BoS have recently changed their overdraft fees, so this should be the last set of unplanned overdraft fees you'll incur from them. Might be better to stick with them?
    • anselld
    • By anselld 2nd Dec 17, 8:05 PM
    • 5,759 Posts
    • 5,435 Thanks
    anselld
    • #3
    • 2nd Dec 17, 8:05 PM
    • #3
    • 2nd Dec 17, 8:05 PM
    Fees were changed on 2 November and failed payment fees were removed all together so when did this happen?

    Also, if you are paying 70 per month to your ISP you are not "managing every penny".
    • Dobbibill
    • By Dobbibill 2nd Dec 17, 9:03 PM
    • 3,142 Posts
    • 4,052 Thanks
    Dobbibill
    • #4
    • 2nd Dec 17, 9:03 PM
    • #4
    • 2nd Dec 17, 9:03 PM
    Hi Nanako,

    Welcome to the forum.

    An unarranged overdraft fee would have been debited yesterday based on using an overdraft you didn't pre-agree with the bank in October as previous charges were paid in arrears.

    Look back over your statement so you understand when and how this happened. Although this has now changed, you need to make sure you understand it especially if you decide to go to another bank that still has these charges in place.

    Under the new structure you do not get charged for unarranged overdrafts or returned items.

    Do you have an arranged overdraft?
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.


    It's not about being the best -
    It's about being better than you were yesterday.
    • eskbanker
    • By eskbanker 3rd Dec 17, 12:04 AM
    • 7,418 Posts
    • 7,987 Thanks
    eskbanker
    • #5
    • 3rd Dec 17, 12:04 AM
    • #5
    • 3rd Dec 17, 12:04 AM
    I never chose them, my grandmother made me make an account when i was 16. I had no idea what i was doing. 15 years later, i still don't. I know !!!!!! all about banks.

    [...]

    i'm fuming because my bank has just stolen 30 from me

    [...]

    they've stolen hundreds from me over the past decade.

    [...]

    i'm so sick of this bank

    [...]

    !!!! this, i'm done with these people

    [...]

    Frankly i'd be better having cash in a sock drawer.

    Give me some recommendations.
    Originally posted by Nanako
    My recommendation would be to stick with cash in a sock drawer until you're mature enough to manage a bank account like a responsible grown-up....
    • wouldbeqaulitymoneysaver2
    • By wouldbeqaulitymoneysaver2 3rd Dec 17, 3:38 AM
    • 99 Posts
    • 184 Thanks
    wouldbeqaulitymoneysaver2
    • #6
    • 3rd Dec 17, 3:38 AM
    Lloyds TSB OD Fees are extornionate
    • #6
    • 3rd Dec 17, 3:38 AM
    LLoyds TSB bank unauthorised overdraft fees are extornionate.20 per month, now they are taking charges daily , mine from 12p a day to 30p or more? I fear it is even worse.
    Another one wanting to escape.
    • Dobbibill
    • By Dobbibill 3rd Dec 17, 9:15 AM
    • 3,142 Posts
    • 4,052 Thanks
    Dobbibill
    • #7
    • 3rd Dec 17, 9:15 AM
    • #7
    • 3rd Dec 17, 9:15 AM
    LLoyds TSB bank unauthorised overdraft fees are extornionate.20 per month, now they are taking charges daily , mine from 12p a day to 30p or more? I fear it is even worse.
    Another one wanting to escape.
    Originally posted by wouldbeqaulitymoneysaver2
    The fees would only be for an arranged overdraft - they no longer charge anything for an unplanned overdraft or returned item fee when payments fail.

    If you are now paying a daily fee this would be for an arranged overdraft - you can always remove the facility if you want to

    ETA - this is based on Lloyds policy not TSB policy as I am assuming you are with Lloyds (LloydsTSB is no longer one bank)
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.


    It's not about being the best -
    It's about being better than you were yesterday.
    • badger09
    • By badger09 3rd Dec 17, 11:37 AM
    • 6,000 Posts
    • 5,346 Thanks
    badger09
    • #8
    • 3rd Dec 17, 11:37 AM
    • #8
    • 3rd Dec 17, 11:37 AM
    @ Nanako and wouldbequalitymoneysaver2

    you might get more help and advice on the Debt-Free Wannabe board
    • worried jim
    • By worried jim 3rd Dec 17, 11:42 AM
    • 9,217 Posts
    • 14,222 Thanks
    worried jim
    • #9
    • 3rd Dec 17, 11:42 AM
    • #9
    • 3rd Dec 17, 11:42 AM
    @ Nanako and wouldbequalitymoneysaver2

    you might get more help and advice on the Debt-Free Wannabe board
    Originally posted by badger09
    And just keeping your money in an old Tartan shortbread biscuit tin under the bed.
    "Only two things are infinite-the universe and human stupidity, and I'm not so sure about the universe"
    Albert Einstein
    • Katiehound
    • By Katiehound 3rd Dec 17, 12:19 PM
    • 4,444 Posts
    • 38,865 Thanks
    Katiehound
    or maybe see if there is a Credit Union in your area?
    Being polite and pleasant doesn't cost anything!
    If you found my posting helpful please hit the "Thanks" button!
    Many thanks

    2018 Wombling : Entrant 8 ..2319 cc+.2205mm (2.20.5) + RK 5.21= 30.64.5
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