Halifax Overdrafts

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VFR_KID

VFR_KID

Soldato
Joined
3 Jul 2008
Posts
3,248
Location
Fife way up in Scotland
Sorry if this is a Peroast, If so just delete and mock me. Also please lik to the original and I will go there

Today I was in the halifax and the lady behind the till enlightened me that, As of December you will be charged £1.00 each day you are in your Overdraft.

So with me being the kind that always uses theirs I was slightly alarmed by this concept.

My general questions here are:

1 Can I change bank and simply pay them so much each month, For example £100.00 a month

2 How can this be legal, they will make a mint from people.

Also what are peoples thoughts on this.
 
Im going to have to find out which my overdraft is, Yeah something to do with the £1.00 a day is if you go into your overdraft they will charge you £1.00 for each day regardless of it being £1.00 over oor £300. but if you go over the top of your overdraft it will be charged at £5.00 instead of the Usual £30.00 upwards fine
 
ash_scotland88 said:
are you serious? as a student i need that ovedraft to survive!
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Well I aint a student and need mines, Had unforseen repairs needing done on the car so had to use the Overdraft. Now has become custom to use it and pay it back but want to get into the situation of not using it or even better not havign it what so ever.
 
Duke said:
I think what the banks are trying to do (apart from the obvious of making money out of people ;)) is to appease the courts/solicitors by introducing a low daily fee so if you only going into the red for a short time, you don't pay much. However if you are always borrowing, then you'll have to pay for it. Remember that overdraft isn't your money.. maybe people who assume its theirs will wake up.
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Yeah understand where you are comming from.

Hope for a second I havent come accross as thinking it is my money, know it aint and I am happy to pay the Intrest on it.

Does anyone know if I could open up a basic account with another bank get my wages and Direct dfebits assosciated with that and simply pay HBOS a particular amount each month then just close once it is over and done with
 
Im considdering going back to my bog standard account that I had before I was 16, they keep trying to tell me I shouldnt have it, Why because they cant screw me with it?
 
Cheers Halk. So obviosly you have some/ Perhaps a large knowlege in this field.

So would you be able to advise if I could open up a basic account with another bank get my wages and Direct debits assosciated with that and simply pay HBOS a particular amount each month then just close once it is over and done with
 
Cheers few there I can see. I simply want something I can set up direct Debits with and use in shops and online nothing else, Not bothered If their customer services is rubbish hope to never have to Find out.

Can safely say im 22 and never want another loan credit card bit of HP or overdraft.
 
Cheers, I have 2 Card cash cards that are designed for 17 year olds so will see if I can use them if not I want away asap
 
Some interesting points here, Nice information i wasnt aware of Cheers guys.

They say that All of the Recession business is due to the big bankers making bad gambles, which is probably right (I cant comment not looked into it enough) But half the people behind the counter try and sell you everything in the bank, Otrher day I went in to put £10.00 in my account, Usualy I would use the envelope on the wall system to avoid them but this day someone had stolen the pen, The girl was trying to sell me home insurance, No use I am council and take it through them, Then a credit card had apparently been pre-approved, strange considdering I tried to weeks prior and was refused (thankfully i dont need one now) Why do they feel they have to push stuff on you.
 
Just looking at a post a few above mentioning the FSA, Would I be right in saying that the goverment are considering scrapping this for something totaly different.

Probably somethign that will cost yet more money and then endupt being just as much of a failure
 
DAvE18 said:
I am with BOS and practically live in my overdraft :p
Time to change account, thankfully we have a hsbc in kirkcaldy I think. So am applying for an account with them tomorrow.

£1 a day is a shocking amount
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Where?

Just did a quick google and couldnt see it, Pluss cant put my mind on where it is.
 
Shouldnt the FSA be a stand alone system?

From my understanding they are there to stop banks and things from operating Illegaly along with many other things.
 
The Halk said:
Well... I think so.

The Labour Party were the ones who released the Bank of England from government control. It has turned out, by and large, to be a good thing. They also created the FSA. Labour can't close the FSA without looking like they made a mistake. The Conservatives could. However the Conservatives will be keen to be seen to be doing something, and closing the FSA is something.... I think the Conservatives are right to be looking at the crossover and uncovered parts of regulation, but I hope they're not just doing it to be doing something.
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Wouldnt surprise me if they did something like that just to say Up yours labour.

After watching polotics on tv it makes me realise how childish they are in the houses of parlament, Its like little kids bikkering accross a room trying to get one over on the other
 
I dont think anyone will ever do a decent job of this country, No matter who is in charge there will alwasy be a proble. I do however enjoy winding the Father in law up, hes from Kirkcaldy and thinks the sun shines out of Gordon Browns back side. If Brown said Shoot all children and beat all women he would agree lol. So that is my ticket to take the mick
 
The Halk said:
You shouldn't pay BoS for the overdraft either.

List the banks and building societies in Kirkaldy and I'll give you an alternative with no charges :P

Nationwide are generally speaking an honest institution, and a safe choice if there's one there.
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KDY has

Nationwide

HBOS

RBS

Clydesdale

Loyds TSB

Barclays

Bradford Bingley

And Dunfermline

Oh and Aliance and Lester (the child MO....)
 
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