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    • OliB150
    • By OliB150 8th May 18, 5:27 PM
    • 10Posts
    • 2Thanks
    Multiple accounts with bank, but still charged for unarranged overdraft
    • #1
    • 8th May 18, 5:27 PM
    Multiple accounts with bank, but still charged for unarranged overdraft 8th May 18 at 5:27 PM
    Evening all - not sure if I'm just being overly stubborn on this one (I'll admit it is likely) but am I being unrealistic to think that if I have multiple accounts with my bank (one personal, one joint with partner, who also has a personal one with them) and our joint account goes overdrawn unexpectedly, but enough money is available in both other accounts to cover this deficit, that it's a bit unfair for them to charge me for the privilege?

    They signed us up to their alert service (without us asking to be) and we came to rely on those handy text messages (saying "to prevent fees") if the account went into the red and would typically move money in from the other accounts within a few minutes in order to get back to black. This system 'conveniently' started to fail about 18 months ago, and wouldn't give us any notification on the day it went over, but instead the day after, with different text saying "to minimise fees". First time this happened, I rang them, debated the fact that I had not accepted any T&C's when subscribing to this service as we never requested it, and they waived the charge.

    In the months since then though, it does happen every now and again, sometimes with a warning, and other times saying it was too late. I've been back over statements some times and found that the final account balance has not gone below £0 at the end of any day during the month they are charging me for. Other times, it is a case of a direct debit due to go out on that day (shows in the balance but not in the 'available' balance), then we go shopping for say £10 which is available because the account balance is say £50, then the £45 DD clears at the end of the day and bam we get charged £6-8 for being £5 overdrawn. Should they not have declined the shopping transaction if the money was not 'available'?

    I read on the main site that you can only really claim this back from banks now if it is causing financial difficulty, and I'm pleased to say we're fortunate enough that it doesn't, it's just an annoyance and doesn't seem fair and reasonable to me, especially considering we're not strictly in the red with them at all, when balanced across the three accounts, so I'm not sure what they're exactly trying to claim I've inconvenienced them with...!
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    • OliB150
    • By OliB150 10th May 18, 8:49 AM
    • 10 Posts
    • 2 Thanks
    As stated, no intention for me to delete. Iíve learnt my life lesson from John-K that I need to be responsible for my actions and this will be my first success story now Iíve turned my life around.

    Iíll throw out there that a big failing of other forums is long standing members having a belief that they are better than new users, because they have a higher post count to their name. There is a high risk that new members that could have been seeking to become a productive long standing member of the community get put off by this attitude and donít bother to return. Not saying this is the case from your post agrinnall, however it could be something other members could take on board and check how they are perceived by others, as tone cannot be conveyed across text. Attempts at insults however, can be.

    If the admins want to close this, be my guest. Nothing more productive is likely to come of it.
    • takman
    • By takman 10th May 18, 9:28 AM
    • 3,786 Posts
    • 3,460 Thanks
    If you had put as much effort into sorting out your finances as you have defending your current methods then you wouldn't have any of these issues.

    In summary you should look at:

    -A current account for bills only (cashback account would be good)

    -A Monzo/Starling account for everyday spending (balance is updated immediately when spending money and a notification on your phone)

    -A Credit Card for everyday spending (this has the benefit of cashback/rewards on spending, section 75 protection and building up your credit history).

    You seem to want the bank to change how they operate which won't happen. So instead you need to move to other banks/products that will operate how you want them to. You can also benefit from some cash bonuses by switching to certain banks.
    • EachPenny
    • By EachPenny 10th May 18, 1:27 PM
    • 10,302 Posts
    • 29,673 Thanks
    As far as Iím now concerned, this topic is done and can be closed. The point has been made that yes I am in the wrong (weíve covered the fact that I said this was a possibility from the offset). I still donít agree with some of the points, but that is how it is. I think it could be run differently; maybe when I come to power, Iíll make a bank with my bright ideas and watch the masses come flooding to me because I look out for the customer by offering them easier ways to manage their money in the digital age where there is no reason not to provide systems which the user can customise to achieve such a feature
    Originally posted by OliB150
    Go for it!

    A good starting point would be learning about the rules and regulations that your start-up bank would have to follow. The FCA are quite demanding in that regard. You'll need to follow BCOBS for a start:-

    Unfortunately running a bank is a tricky business, rather more complicated than the task of ensuring an account is regularly topped up so that payments going out of it don't leave you overdrawn and subject to fees and charges.

    And you certainly cannot take one client's money and give it to another client to stop them going overdrawn. Even if that is a service you think they would really appreciate.

    P.s. I'm sure your existing bank provides a customisation feature called a 'standing order'
    "In the future, everyone will be rich for 15 minutes"
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