Bank Charges

G-MAN2004

G-MAN2004

G-MAN2004

Caporegime
Joined
4 Jul 2004
Posts
30,795
I am being charged £35 for going overdrawn a few times by pennies. However, as a first time bank account user, and making sure I didn't agree to an overdraft, why on earth does it still go overdrawn? Surely it'd just decline the payment?

I got a letter from them telling me that they are not willing to make the payment when I don't have any money in my bank, but they do it anyway. Hmm, fantastic.

Might as well have a bloody overdraft... :rolleyes:
 
Had the same problem with my old bank, they would not enforce a "no money no payment" option so i left them for someone who would.
 
for a few pence?

banks are basically thieving ****s but you should make sure you dont go over by anything, just so they cant steal £35 of you, thats how I work, wont give them a penny!

I even paid my final payment on my CC short by 1p just so i had to send a cheque for 1p, which they cashed! just cos i hated HSBC so much, i then changed banks
 
Best bet is to get an overdraft and never use it, that's the point of one IMO.

I have a £400 overdraft on my account but it is very rarely used, normally only at the end of term for a couple of weeks before more money is added in. Just make sure you think of an overdraft as a life belt for really important times rather than a way of gaining free money (and forever being in it).
 
on moneysavingexperts.com they have a form you can fill out the blanks on and get all the charges from the last 6 years refunded
 
Think I might have to.

Why do some payments take forever though? For example, I bought a game off Steam, played it for nearly two weeks, and then they finally took the money out of my account. Obviously I thought they would have taken it out straight away, so I bought something else, putting me out by something silly like 17p when they finally did take it. :p

AceTK said:
on moneysavingexperts.com they have a form you can fill out the blanks on and get all the charges from the last 6 years refunded
Click to expand...

Will talk to them first, and then try that if nothing works. Thanks. :)
 
The way debit cards are designed, they don't have to pre-check your balance to ensure you have the correct amount in the account, only that the card is valid.
 
If it's the first time it's happened, then speak to your bank. Happened to me once, I went about 90p overdrawn when a cheque I'd paid in had taken longer to clear than I expected. I went into my bank, arguing that the penalty charge was vastly disproportionate to the amount I'd gone overdrawn. The woman in the bank agreed and refunded it to me. Has never happened again, that was about 3 years ago. Have a £200 overdraft now just for that reason, just in case.
 
G-MAN2004 said:
Think I might have to.

Why do some payments take forever though? For example, I bought a game off Steam, played it for nearly two weeks, and then they finally took the money out of my account. Obviously I thought they would have taken it out straight away, so I bought something else, putting me out by something silly like 17p when they finally did take it. :p



Will talk to them first, and then try that if nothing works. Thanks. :)
Click to expand...

Check your balance before you purchase.

You wouldn't re-fuel your car before checking you had your wallet with you, would you?
 
Amp34 said:
Best bet is to get an overdraft and never use it, that's the point of one IMO.

I have a £400 overdraft on my account but it is very rarely used, normally only at the end of term for a couple of weeks before more money is added in. Just make sure you think of an overdraft as a life belt for really important times rather than a way of gaining free money (and forever being in it).
Click to expand...

Since changing over from Student account to normal current account my overdraft was £100 but last year the banks changed it without my knowledge........they bumped it up to £1000 for some silly reason! Not that I'd use it anyway, usually try to keep + £1000 in my account at all times :)
 
Pez said:
Check your balance before you purchase.

You wouldn't re-fuel your car before checking you had your wallet with you, would you?
Click to expand...

I understand that, but at the same time surely if I am using the product that I have bought, then it's right to assume they've got my payment by then?

The other time it happened, is when I bought something off Amazon. Received the product, and then a few days later my payment was taken out of my bank. Why on earth would they send me the thing without first getting the money off me, or is my bank just being slow with updating my balance or something? :confused:
 
G-MAN2004 said:
I understand that, but at the same time surely if I am using the product that I have bought, then it's right to assume they've got my payment by then?

The other time it happened, is when I bought something off Amazon. Received the product, and then a few days later my payment was taken out of my bank. Why on earth would they send me the thing without first getting the money off me, or is my bank just being slow with updating my balance or something? :confused:
Click to expand...

never assume cos it makes an ASS out of U and ME ;)
 
If you paid with a debit card then I think you should be charged when the goods are despatched. It can take a day or two for the debit to hit your account, depending on the scheme and the supplier. Amazon are normally very quick.
 
Derek W said:
Since changing over from Student account to normal current account my overdraft was £100 but last year the banks changed it without my knowledge........they bumped it up to £1000 for some silly reason! Not that I'd use it anyway, usually try to keep + £1000 in my account at all times :)
Click to expand...

I've never had a student account, which may be why I was never like a lot of my friends WRT overdrafts (I have always had to pay interest on it, although I think the biggest quarterly charge was about 50p). Normally I only ever go a max of around £80 into my overdraft every few months, and clear it again a few weeks later. It used to be £250 but I had it upped to £400 when there was one point I was near £200, just to be on the safe side.

Either way it doesn't matter what your overdraft limit is if you don't use it.:D
 
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