£0.18 0verdrawn
Discussion
Just recently been on holiday to Romania and had one debit card with me, now I
checked the balance and was with what was spent,but unfortunately went £0.18
overdrawn.
Had a letter today informing me and they have charged £15 for being overdrawn
and £6 a day since it happened about £50, I spoke to the bank today and they
want me to go in to the Branch tomorrow and pay in £0.20 to cover the overdraft.
They will not return the charges, is this the problem upsetting people or is it fair
charging? to make a profit?
checked the balance and was with what was spent,but unfortunately went £0.18
overdrawn.
Had a letter today informing me and they have charged £15 for being overdrawn
and £6 a day since it happened about £50, I spoke to the bank today and they
want me to go in to the Branch tomorrow and pay in £0.20 to cover the overdraft.
They will not return the charges, is this the problem upsetting people or is it fair
charging? to make a profit?
Lord Flathead said:
Dpn't worry Jimbo, you can claim ALL your bank charges back IRC if you plead "financial hardship". A lady friend at work has just done this, claiming back charges for the last three years. I am sure someone knowledgeable with be along in a moment 
This really pisses me off - financial retards who can't manage a current account now have got a voice in Martin Lewis and will be responsible for the end of free retail banking.I was quite happy to let the idiots subsidise my services.
However, back to the OP - I've had similar twice before, and managed to get the charges back. If you're a long term customer who invests a lot with a bank, and it is a rare occurrence - I do think it is a bit harsh for tiny amounts.
I got mine back on both occasions by saying - your charge is £10ish, if you won't wave it, please can I withdraw my £x0,000.
Mattt said:
Lord Flathead said:
Dpn't worry Jimbo, you can claim ALL your bank charges back IRC if you plead "financial hardship". A lady friend at work has just done this, claiming back charges for the last three years. I am sure someone knowledgeable with be along in a moment
This really pisses me off - financial retards who can't manage a current account now have got a voice in Martin Lewis and will be responsible for the end of free retail banking.I was quite happy to let the idiots subsidise my services.
However, back to the OP - I've had similar twice before, and managed to get the charges back. If you're a long term customer who invests a lot with a bank, and it is a rare occurrence - I do think it is a bit harsh for tiny amounts.
I got mine back on both occasions by saying - your charge is £10ish, if you won't wave it, please can I withdraw my £x0,000.
The charges a bank can make on unauthorised overdrafts should be restricted to a given percentage of the amount overdrawn , common sense would then dictate that it's not worth the price of a stamp writing to someone who has only gone overdrawn by 18p whilst those who nonchalantly go overdrawn by several hundreds can expect the fee to be more of a deterrent
If its the first time you have been overdrawn and have a good history with the bank you should'nt need to have £x,000's in the bank. Just go into branch and see them face to face. The personal touch shuld work.
Then whilst you are visiting them get them to apply a small £50/£100 overdraft to your account to avoid it in the future.
Then whilst you are visiting them get them to apply a small £50/£100 overdraft to your account to avoid it in the future.
Mattt said:
................have got a voice in Martin Lewis and will be responsible for the end of free retail banking.
I found Martin Lewis novel at first, but now he's really starting to take the piss. I'm pretty certain he doesn't really understand how certain organisations make money. For example his latest thing is about low cost airlines. Does he really think its a viable business if a plane had 160 passengers each paying £1? Mattt said:
Lord Flathead said:
Dpn't worry Jimbo, you can claim ALL your bank charges back IRC if you plead "financial hardship". A lady friend at work has just done this, claiming back charges for the last three years. I am sure someone knowledgeable with be along in a moment
This really pisses me off - financial retards who can't manage a current account now have got a voice in Martin Lewis and will be responsible for the end of free retail banking.I was quite happy to let the idiots subsidise my services.
However, back to the OP - I've had similar twice before, and managed to get the charges back. If you're a long term customer who invests a lot with a bank, and it is a rare occurrence - I do think it is a bit harsh for tiny amounts.
I got mine back on both occasions by saying - your charge is £10ish, if you won't wave it, please can I withdraw my £x0,000.
So you admit you're a financial retard then?
Mx_Stu said:
Then whilst you are visiting them get them to apply a small £50/£100 overdraft to your account to avoid it in the future.
I did exactly this last week, I had a similar situation to the OP and got charged about £40 for being overdrawn by less than a £1. It only happened once, and it was a total accident, so it's worth having a £50 overdraft even if you never intend to use it to save yourself any hassle in the future. Write them a letter saying it was an honest mistake, and highlight the x number of years you've kept within your facility. Point out the small value of the error and the punitive charge and that bank charges are supposed to reflect the cost to the bank of your error.
If you've been a good boy then it should get punted.
If you've been a good boy then it should get punted.
Similar happened to our shared account when we got married. We went £40 unauthorised for a day or so when we were moving large amounts of cash around for the wedding. Got fined. took the hit, as I didn't feel like crawling to my bank, and I frankly had bigger things to worry about at the time. And thought nothing more of it.
Until it came for us to renew our mortgage 6 months or so later. Same bank, who therefore had full access to our shared account and my current account, and they could check back a lot longer than normal applications.
Despite a great credit rating and lots of cash in the bank, the mortgage was refused on the grounds of "bad personal financial management" within the shared account. And the unauthorised overdraft was quoted as the reason. No chance of appeal, come back in 6 months to try again...
No real harm done as we ended up with a cracking deal elswhere, but as this was when the banks were being very mean with their mortgage approvals, it gave us a bit of a sweaty moment. The added result is that it has made me VERY careful when floating around the overdraft limit nowadays!
Until it came for us to renew our mortgage 6 months or so later. Same bank, who therefore had full access to our shared account and my current account, and they could check back a lot longer than normal applications.
Despite a great credit rating and lots of cash in the bank, the mortgage was refused on the grounds of "bad personal financial management" within the shared account. And the unauthorised overdraft was quoted as the reason. No chance of appeal, come back in 6 months to try again...
No real harm done as we ended up with a cracking deal elswhere, but as this was when the banks were being very mean with their mortgage approvals, it gave us a bit of a sweaty moment. The added result is that it has made me VERY careful when floating around the overdraft limit nowadays!
Mx_Stu said:
If its the first time you have been overdrawn and have a good history with the bank you should'nt need to have £x,000's in the bank. Just go into branch and see them face to face. The personal touch shuld work.
Then whilst you are visiting them get them to apply a small £50/£100 overdraft to your account to avoid it in the future.
I'm pretty sure the banks aren't supposed to be making huge profits from helping themselves to money you don't have in your account because you happened to go a few pennies overdrawn.Then whilst you are visiting them get them to apply a small £50/£100 overdraft to your account to avoid it in the future.
Mattt said:
................have got a voice in Martin Lewis and will be responsible for the end of free retail banking.
I found Martin Lewis novel at first, but now he's really starting to take the piss. I'm pretty certain he doesn't really understand how certain organisations make money. For example his latest thing is about low cost airlines. Does he really think its a viable business if a plane had 160 passengers each paying £1? I'm amazed banks can get away with this. "Sorry, you had no money to pay this, so we declined it and charged you thus leaving you overdrawn anyway." If I tried to help myself to money from a customers account I'd be hung, drawn and quartered. Furthermore, if I sent them a letter saying I was charging them a £25 admin charge I'd be laughed at. Still, I suppose you can do what you want when you can just dip into peoples accounts as you see fit.
Oakey said:
Mx_Stu said:
If its the first time you have been overdrawn and have a good history with the bank you should'nt need to have £x,000's in the bank. Just go into branch and see them face to face. The personal touch shuld work.
Then whilst you are visiting them get them to apply a small £50/£100 overdraft to your account to avoid it in the future.
I'm pretty sure the banks aren't supposed to be making huge profits from helping themselves to money you don't have in your account because you happened to go a few pennies overdrawn.Then whilst you are visiting them get them to apply a small £50/£100 overdraft to your account to avoid it in the future.
Mattt said:
................have got a voice in Martin Lewis and will be responsible for the end of free retail banking.
I found Martin Lewis novel at first, but now he's really starting to take the piss. I'm pretty certain he doesn't really understand how certain organisations make money. For example his latest thing is about low cost airlines. Does he really think its a viable business if a plane had 160 passengers each paying £1? I'm amazed banks can get away with this. "Sorry, you had no money to pay this, so we declined it and charged you thus leaving you overdrawn anyway." If I tried to help myself to money from a customers account I'd be hung, drawn and quartered. Furthermore, if I sent them a letter saying I was charging them a £25 admin charge I'd be laughed at. Still, I suppose you can do what you want when you can just dip into peoples accounts as you see fit.
al1991 said:
Mx_Stu said:
Then whilst you are visiting them get them to apply a small £50/£100 overdraft to your account to avoid it in the future.
I did exactly this last week, I had a similar situation to the OP and got charged about £40 for being overdrawn by less than a £1. It only happened once, and it was a total accident, so it's worth having a £50 overdraft even if you never intend to use it to save yourself any hassle in the future. £200 overdraft, I went £30 overdrawn and they charged me £25 for the pleasure.
I thought an overdraft meant you were kind of, allowed up to that.. Over that, they'll charge you. I didn't realise I had gone over until I got the letter.
Yes, i'm a financial retard.
Myself and the OH have gone over this week thanks to a DD coming out we had not anticipated. The charge is not a problem, as stated, we signed the contract, we know the score. However I do not think it's a fair reflection on my credit rating, which has always been low for no particular reason other than I have had no credit in the past.
What I find a pisstake is that my credit score has been climbing steadily by ~2pts per month for the past 6-8 months, this overdraft will probably wipe off 20 points in one go.
Thats hardly fair, I expect a drop of course, but 8 months of keeping everything paid up and above board well and truely wiped out by one mistake is not on IMO.
What I find a pisstake is that my credit score has been climbing steadily by ~2pts per month for the past 6-8 months, this overdraft will probably wipe off 20 points in one go.
Thats hardly fair, I expect a drop of course, but 8 months of keeping everything paid up and above board well and truely wiped out by one mistake is not on IMO.
I'm a financial retard (though less so these days) - but on the rare occasions I've ended up in a bad place due to charges (I misjudged how much I had and went £9 over my limit, £25 charge, then a bunch of £25 charges for the direct debits they bounced back) - I spoke to the bank, explained what had happened, and they returned the charges for me and arranged for me to have a chat with one of their advisors to sort things out.
That was HSBC who I've been with since they were Midland Bank, and although the charges seem steep, I've only ever been charged when I've cocked up so I've never worried about it too much. Definately worth ringing them.
I also found that now I pay extra for my Plus account, things are a lot easier as I always get a UK call centre, their far eastern ones aren't always the easiest to talk to.
That was HSBC who I've been with since they were Midland Bank, and although the charges seem steep, I've only ever been charged when I've cocked up so I've never worried about it too much. Definately worth ringing them.
I also found that now I pay extra for my Plus account, things are a lot easier as I always get a UK call centre, their far eastern ones aren't always the easiest to talk to.
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