Not necessarily, this is a forum and everyone is going to have a different opinion to everyone else.
not that I agree with the chap though but no need to start directing this thread towards a personal level.
£25 bank charge for 33p over limit
- Thread starter Jon12345
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Not necessarily, this is a forum and everyone is going to have a different opinion to everyone else.
not that I agree with the chap though but no need to start directing this thread towards a personal level.
It's all very well saying "don't go over the limit in the first place" but how can the banks justify charging £25 for this?
Them charging £25 for going 33p over an overdraft is totally disproportionate. They should be charging however much it cost them, not giving out "fixed penalties" as they have no authority to punish people.
I don't know what a returned Direct Debit is
Of course, the situation isn't black and white, there are definite issues with the way banks process transactions which can sometimes lead to unfair charges. I also believe that just because you signed up to something in the T&Cs it doesn't make it fair or even legal.
However I'm fine with the general principle that if you go over your agreed limit then you are in breach of contract and you have to face some sort of sanction. A £25 charge is imo perfectly fair, I would suggest that an alternative the bank should offer is to forgo the charge if he closes the account immediately, paying back the total amount of overdraft in the process.
I have read them, thanks. You seem like someone who cannot manage your money too, so I wouldn't expect you to agree.
It's very simple, I don't see why people struggle.
Caporegime
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The whole point is the fee is punitive and painful, if it was insignificant, no one would care about being overdrawn, if everyone thought it was worth going overdrawn, you start getting people all over the place taking an extra grand they don't have out for "almost free" and start using them as loans, start using the money as a low interest loan and stick the money in stocks or something and try and make more and pay it back later.
This is how people end up in massive debt and the banks out eventually millions. Without a purely punitive fee, people simply don't learn, because thats life.
Don't go overdrawn, save money, make intest and you can make money, go overdrawn, lose your money its fairly simple.
Its also pretty simple, even with no plan to buy anything, I keep more than enough in my current account that should I ever want to buy anything I won't be going overdrawn to do so because I forget to put money in. I don't put every last penny into a savings account to make an extra 3p a year and risk getting charged for being overdrawn.
AS for FD/HSBC they are one of the few banks, afaik, who will let you go basically any amount overdrawn as long as you move the money required into the account within the same day, most banks will punish you for that.
Your whole example falls apart, it wasn't a limit of £1000 but went £100 over at all.
Do some of you people even use banks?
I do not understand how it's so hard for a load of you not to understand that bank charges aren't only for people who "spend money they haven't got". Those people are going around maxing out credit cards, go moan about them.
How hard is it to understand that bank charges for such things as delayed wages when direct debits are due, for example, are not fair?
I've stated a good few examples already but no one has addressed the example I've given, but instead just chose to tell me I'm wrong.
If I'm wrong, explain to me what exactly about my example is wrong?
Why shouldn't they punish people who take their (the banks) money without permission?
For a name with the word drunken in it, You speak muchos sense sir.
I refer you to my last post.
Any thoughts on what I've said? Or do you want to keep pretending I don't know what I'm talking about?
Man of Honour
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I'm sure that if I was going to a funeral my last thoughts would be on calculating my next few days' bills and working out what would happen if one came out earlier than expected.
Which example? Wages not getting paid in time?
Because they don't have the authority?
How is a failed direct debit, taking the bank's money? I'm starting to think this a question you aren't going to answer.
Fact.
It is if you go £2500 into your OD but if you are 300quid its very bad
Better than £25 for 33p
Why is the bank liable for your wages delayed! It's as simple as breaching T&Cs, inuring the fees stated in the T&Cs - you did sign up to the deal after all.
Permabanned
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You have signed up for a contracted service. The terms and conditions are available to everyone and anyone who asks for them. They absolutely have the right to charge whatever they see fit, if you do not like it then do not use their services.
It really is as simple as clv101 is making out. Dont break the T&C's and you wont incur charges.
Yes, for example, or the issue I had with a botched transaction? How about how direct debits work full stop? How about they decline transactions in stead of allowing them when there isn't sufficient funds?
I'm not a keyboard warrior, but do you not think you should look to stop being charged £180 a month by your bank instead of moaning about it? It's not them who is crippling you, it's yourself by going over your OD.