Overdraft Payments

[Mike.C]

It seems that if the banks lose the OFT test case they are going to claw their money back some how. :twisted:

We have just received a letter from the Halifax stating that to make things easier for their most valuable customers, and so we will know exactly how much they will be charing us at the end of each month, from the 6th of December 2009 they will be stopping interest charges on AGREED overdrafts of between £1-£2500, and replacing it with a daily charge of £1.

AGREED overdraft of over £2500 = £2 a day.
UN-AGREED overdraft = £5 a day.

This is at the same time as they are blowing their own trumpet and telling everyone who will listern to them that they are helping those people who go overdrawn without permission by dropping all interest charges. So take your eye off the ball for a month and go an unofficial £1 overdrawn and they will kindly hit you for £155.

On average my monthly agreed overdraft charges are around £10, but from December this will raise by a huge 300% to £30/£31. Surely there must be some sort of limit they can raise their charges in one go?

Yes I know that I don't have to use the overdraft.

Cheers

Mike

 

[wizer]

It's the unauthorised overdraft that really bugs me. Don't bloody authorise it then!

 

[kityuser]

it wouldn't be so bad if you could actually CANCEL an overdraft.

I don't want one, never need one.

SO why everytime I cancel it with shatwest do they phone me up and tell me that they are "upgrading" my account and that I "qualify" for a £5K overdraft.

This has happened too many time to count. I've had enough and will consider leaving with all the agro that goes with it...........

:shock:

Steve

It was blatantly obvious that with all these "overcharging" cases going through the small-claims that they were going to get "their" money back some how.........

 

[Gill]

I once went overdrawn by £7.33 when I was a student in 1981. Never since. However, this latest overdraft review is just one of the penny-pinching ways that Halifax have.

This morning I booked an appointment to see an advisor at the Nationwide and discuss transferring my account to them. Apparently, they are doing good business with disgruntled Halifax customers right now.

 

[RogerS]

I currently have a legacy of several bank accounts across different banks. A hangover from the requirements of various mortgages in the past and their mandate in the case of NatWest to have a bank account before you can use the internet to look up your credit card statements etc. At the last count, it was four current accounts.

It does work in my favour at the moment as there are no charges to speak of but if they do start charging then we shall see. Certainly having this number of accounts means that i can easily ringfence accounts for the purposes of direct debits and keep a bare minimum there.

 

[Mike.C]

I once went overdrawn by £7.33 when I was a student in 1981. Never since. However, this latest overdraft review is just one of the penny-pinching ways that Halifax have.

This morning I booked an appointment to see an advisor at the Nationwide and discuss transferring my account to them. Apparently, they are doing good business with disgruntled Halifax customers right now.

Hi Gill, I am really not suprised. They are basically giving the OFT the finger, saying you stop us ripping the customer off with one hand and we will do it with the other :evil:

Cheers

Mike

 

[Mike.C]

:shock: And then just to show their power they take the forum offline all night. :shock:

Cheers

Mike

 

[Ironballs]

Steve/Mike - switch to the co-op, a far more pleasurable experience and the transfer was dead easy too

 

[woodbloke]

Alliance & Leicester charge £5 per month for an agreed od - Rob

 

[cambournepete]

I once went overdrawn by £7.33 when I was a student in 1981. Never since. However, this latest overdraft review is just one of the penny-pinching ways that Halifax have.

This morning I booked an appointment to see an advisor at the Nationwide and discuss transferring my account to them. Apparently, they are doing good business with disgruntled Halifax customers right now.

I've had a Nationwide current account (Flexaccount) for over 20 years.
They have been excellent and I'd recommend them to anyone.

Once we were in a bit of hardship and they rejected 5 payments at £25 each or so - we went into the branch and spoke to the manager to explain the situation and it all got refunded

 

[Gill]

Thanks for the recommendation, Pete. I guess that's the benefit of putting your money with a building society as opposed to a bank .

 

[dedee]

No problems here either with the Nationwide but you may have to research MTUs if you use their online banking :lol:

Andy

 

[cambournepete]

No problems here either with the Nationwide but you may have to research MTUs if you use their online banking :lol:

Andy

MTUs?
I've found lots of different ones in google...

 

[dedee]

Pete
MTU's were the cause of a long running thread I had here a few weeks back.

It is some sort of ethernet setting that my ISP could no longer cope with.

cheers


Andy

 

[cambournepete]

Just had a look - wondered if it was that type.
We had an issue here at work a while back wher ewe had to reduce the MTU by 1 byte!

I use Windows XP at home and haven't had any issues with the Nationwide online banking.

 

[dedee]

Pete from what I could gather the problem was restricted to just one ISP here in France whose servers could not cope with 1500 mtu. I dropped mine to 1200 and everything worked fine.

Andy