Halifail overdraft charges

Glaucus · 8 Dec 2009 at 19:42

Dogoid said:
you cant move if your always overdrawn and find it hard to balance out.

Yes you can as long as the new bank gives you an adequate overdraft to transfer the debt.

Van Hellseek · 8 Dec 2009 at 19:43

Yup, you can transfer the account. No questions asked.

Dogoid · 8 Dec 2009 at 19:44

AcidHell2 said:
Yes you can as long as the new bank gives you an adequate overdraft to transfer the debt.

never thought about that, but how many banks are now going to follow suit ?

you could move to a bank now ,and later find they change their methods of banking and slap you with an even more draconian service charge.

Glaucus · 8 Dec 2009 at 19:45

Dogoid said:
never thought about that, but how many banks are now going to follow suit ?

you could move to a bank now ,and later find they change their methods of banking and slap you with an even more draconian service charge.

In which case you move again. I doubt all banks will do it though. To much money to make of normal interest charges without losing customers.

Dogoid · 8 Dec 2009 at 19:47

AcidHell2 said:
In which case you move again.

bit of a hassle for someone with multiple direct debts.

Glaucus · 8 Dec 2009 at 19:49

Dogoid said:
bit of a hassle for someone with multiple direct debts.

It's not hard, most accounts that use direct debit can be changed online in minutes.

And the chances of other banks following is pretty low.

SlyReaper · 8 Dec 2009 at 19:57

I'm sticking with Halifax because I never use my OD anyway and they pay me a fiver every month just for having a take-home income over £1000 per month. I suppose that's the sort of customer they want to keep.

Gothic Draconia · 8 Dec 2009 at 20:05

The charge can be viewed as interest but i suppose it's only comparable if you are thousands in the red. I'm happy paying interest comparable to a credit card if i ever dip into the overdraft (which i don't).

bloodline76 · 11 Dec 2009 at 13:06

Gothic Draconia said:
The charge can be viewed as interest but i suppose it's only comparable if you are thousands in the red. I'm happy paying interest comparable to a credit card if i ever dip into the overdraft (which i don't).

I think it works out better for the customers that are overdrawn by more than £1800 each month.

Personally I get paid monthly probably like most people and I do go into my overdraft each month (which is why I got one) until my next pay comes in. But I only go about £20 - £100 overdrawn depending whats happening that month.

Which basically means I will get charged £356 per year for an overdraft.

I have switched to their £12.50 account at the moment as I get the £5 per month but will be switching to a new bank after christmas so I can arrange my direct debits.

I have been with them for over 16 years and havent had a problem with them before but I find this new charge disgusting. I hope people follow suit and move on before this sort of charge catches on with the other banks.

I guess someone has to pay for their bonuses :rolleyes:

Frenzy · 11 Dec 2009 at 13:39

For a couple of months i was being charged £39 a pop for not having money in my account and having someone trying to take a standing order out of it. Yeah id put in just enough money to pay off the standing order but somehow they decided that the money was not in the account. Then on top of that they would charge more fees due to the admin fee they initially charged so it kept going in circles. I think it went up to £140 in charges. I basically ignored it (yeah i know very silly thing to do) and they eventually closed the account and didnt pursue the admin fees. Id already paid £200 worth of fees on that account too =/

To clarify they were charging me £39 for a £5 standing order. I mean if i didnt have the oney to pay the standing order what made them think i could pay the £39?

daniel_owen_uk · 11 Dec 2009 at 13:53

The G/F has an account in it's overdraft with her ex, account is frozen whilst it's sorted with the solicitors, we are paying £30 a month for **** all and can do nothing about it!

Oh the joys.

Big Chris · 11 Dec 2009 at 13:57

I've been charged £1 a day for my Halifax OD for a good few months now, at least 4.

Their Ultimate Reward Current Account is now about to/already has changed to the same charge so there's no escape. However, if you stay under £300 overdrawn with the Ultimate account, you don't get charged, however the account costs a monthly fee.

Big Chris · 11 Dec 2009 at 14:00

Dogoid said:
its the ultimate reward current account that offers 300 quid overdraft ( fee free ) for 12 quid a month charge for this service. this account has more benefits but for the people worried they are going to be charged around 30 quid a month for being overdrawn in a current account, moving to this account would reduce that amount to 12quid .

This is only correct for an arranged OD of up to £300. Over £300 with the Ultimate account and it's £1 per day:

http://www.halifax.co.uk/bankaccounts/ultimatereward.asp

VFR_KID · 11 Dec 2009 at 14:32

Reminds me I need to go chuck in a few quid to get mines out.

They charge you at the end of the month. so the guy on their telephone line told me.

Im currently 10 quid into mines so need to pay a tenner back and a tenner charge

Dave85 · 11 Dec 2009 at 14:43

Allready moved to alliance and lieciester, got £100 for switchin and the matched my overdraft. Moved all DD and standing orders etc. No overdraft charges for a year then only 50p a day but to a MAX of £5 a month so still allot cheaper.

bloodline76 · 11 Dec 2009 at 15:00

DavieCramb01 said:
Reminds me I need to go chuck in a few quid to get mines out.

They charge you at the end of the month. so the guy on their telephone line told me.

Im currently 10 quid into mines so need to pay a tenner back and a tenner charge

So if you get paid before the 1st of the month then you dont get charged? Or is it like i went into the overdraft on 15th then got paid on 28th I would pay £13?

VFR_KID · 11 Dec 2009 at 15:02

DAvE18 said:
Allready moved to alliance and lieciester, got £100 for switchin and the matched my overdraft. Moved all DD and standing orders etc. No overdraft charges for a year then only 50p a day but to a MAX of £5 a month so still allot cheaper.

I changed mines when we were last talking about them on here. i managed to open a nation wide account got the card and couldnt do sod all with it. wasnt chip or pin so was useless

Earth[Tera].bin · 11 Dec 2009 at 15:23

I've been stung a few times by their charges. Once I donated some money to Red Cross which took my account 2p into the red, automatic £39 charge. I phoned up and complained, even cheekily suggesting the charge go to Red Cross too but the woman was came across as a right corporate cow.

Luckily I was able to pay off my overdraft and close my account.

Now, with firstdirect I can phone up and speak to someone on a personal level. In the past where I've faced possible charges I've contacted them and explained the problem and they've wavied the charges or given my a reasonable amount of time to bring the account back into line. Something that was nigh impossible with the Halifax.

dekez · 11 Dec 2009 at 15:26

They sound like a joke, glad I closed my account with them ages ago.

moon man · 11 Dec 2009 at 15:30

yes ,mine was a high interest current with £1500 free overdraft ,with the interest being so pathetic and the new £1 a day rule went onto the reward account so at least i get £5 a month. (dipped to minus £1.75 last week for part of a day ,will see what hapens)