Went over my overdraft

This thread annoys me. It's not just "I've got a sulk on with my bank", it's actually in the same vein as the marches with the students and the unions.


If you want to go to university, pay your way.

If you want to live in a country with the standard of living we have, then pay your taxes and accept that as long as benefits and other frivolous expenditures are part of of our culture then we'll simply have to tighten our belts until such times that we've paid for all the overspending our country has done.

And if you want your bank to pay your direct debits for you when you don't have the money, THEN DON'T MOAN THAT THEY CHARGED YOU!! They aren't a charity.


People all seem to have a sense of entitlement lately. People all want something for nothing and if things don't go exactly how they want, then they stamp their feet as if those who are charging for the services they provide are in the wrong!

I simply don't get it?!??!


It's only recently that I've cleared my debts, I spent a good 10 years or more living on my overdraft, getting charges, paying interest on loans etc. It was hard and frustrating, I completely understand that. But I never complained because if I wasn't using other peoples money, or their services, then I wouldn't be charged. Nobody is entitled to stuff for free, we all need to take that on the chin.




/rant
 
Chris [BEANS];18811331 said:
This thread annoys me. It's not just "I've got a sulk on with my bank", it's actually in the same vein as the marches with the students and the unions.


If you want to go to university, pay your way.

If you want to live in a country with the standard of living we have, then pay your taxes and accept that as long as benefits and other frivolous expenditures are part of of our culture then we'll simply have to tighten our belts until such times that we've paid for all the overspending our country has done.

And if you want your bank to pay your direct debits for you when you don't have the money, THEN DON'T MOAN THAT THEY CHARGED YOU!! They aren't a charity.


People all seem to have a sense of entitlement lately. People all want something for nothing and if things don't go exactly how they want, then they stamp their feet as if those who are charging for the services they provide are in the wrong!

I simply don't get it?!??!


It's only recently that I've cleared my debts, I spent a good 10 years or more living on my overdraft, getting charges, paying interest on loans etc. It was hard and frustrating, I completely understand that. But I never complained because if I wasn't using other peoples money, or their services, then I wouldn't be charged. Nobody is entitled to stuff for free, we all need to take that on the chin.




/rant
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Cool rant, but it's got very little to do with the actual thread. :)

The problem is stacking fees and being fined for being fined. They shouldn't (and I thought they weren't) allowed to do this, but it seems they do it anyway.
 
kylew said:
Cool rant, but it's got very little to do with the actual thread. :)

The problem is stacking fees and being fined for being fined. They shouldn't (and I thought they weren't) allowed to do this, but it seems they do it anyway.
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Not how I read the OP. He says he was charged £25 for each DD that was paid while he was OD. No mention of being charged for a charge.

brucey034 said:
Four £25 charges and two £5 arranged overdraft fee charges.
The £25 charges are for four direct debits they paid when I was over my overdraft.
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But, on that note. I agree, it's a bit harsh to get a charge for being overdrawn, get out of the overdraft only to pay the charge which takes you back into your overdraft which gets you a charge... and so on...
However, the principle is the same. You've still used money that isn't yours. for which you'll be charged. The responsibility to pay that charge is yours. So if you use someone elses money to do it then you should expect to be charged.
 
another trick to watch out for are student overdrafts. I went over my limit by a pound, so I tried to up my overdraft limit just to cover me till i could get money in there. Bank said no (even though I hadn't actually asked for the £500 overdraft I was entitled to yet).

Paid the fines. then asked again for my overdraft and it was approved instantly. ********
 
Chris [BEANS];18811442 said:
However, the principle is the same. You've still used money that isn't yours. for which you'll be charged. The responsibility to pay that charge is yours. So if you use someone elses money to do it then you should expect to be charged.
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No, it's not the same. You get charged for something which takes you into the red [which, yes, may well be your fault], but the unfair bit is then you get charged again for being in the red, which has happened because the bank charged you and took you there.

Penalty charges are not legal, which is why there was all that hoohah about them years ago. It's also the exact reason why I managed to get £600 back off the bank, even though, and I quote ["we owe you three times this"]. Animals.
 
It is the same, read what I wrote. You get charged for using money that isn't yours, and the responsibility to pay that charge is yours. If you go back overdrawn to pay that charge that you owe then you're using the banks money to pay it, so you should expect to be charged again.
 
Chris [BEANS];18811871 said:
It is the same, read what I wrote. You get charged for using money that isn't yours, and the responsibility to pay that charge is yours. If you go back overdrawn to pay that charge that you owe then you're using the banks money to pay it, so you should expect to be charged.
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So why did they pay me the money back, hmm? I'll tell you why, because most people sit there and do nothing. If you actually put up a fight they admit it and refund you.

I think you're letting your hatred of students and the cut protests get in the way of logic. The two issues are quite unrelated.
 
Don't know the first thing about your circumstances mate, or which bank you're at or their policies etc...

Which part of the specific example I've given don't you agree with?
 
I'm just in the process of changing to Coop bank.

they have a slightly better system than most.

If you go over once and you have 12months of clean banking no charge.
And also £150 limit per quarter.

Although I'm not changing for that reason. Changing due to the benefits n the premium account (breakdown, travel insurance, phone insurance)
 
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Lysander said:
So why did they pay me the money back, hmm? I'll tell you why, because most people sit there and do nothing. If you actually put up a fight they admit it and refund you.

I think you're letting your hatred of students and the cut protests get in the way of logic. The two issues are quite unrelated.
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Nice edit.

Erm... right. "Hatred of students and the cut protests" - What? I don't hate students and I simply don't agree with the protests, where'd you get hatred from?? You've simply made that up. Poor argument.

As for not letting how I feel get in the way of logic, read my posts. They are logical and I have explained myself. I have asked you to read my example and tell me which parts you don't agree with, you are unwilling or unable to do so.

"The two issues are entirely unrelated". I explained in my first post that I thought the OP's attitude was similar to those who've protested. Since then my posts have been specific to the OP's topic, and, as I stated above I have have explained myself.




So......... What parts of my specifc example do you not agree with?
 
Lysander said:
Penalty charges are not legal, which is why there was all that hoohah about them years ago. It's also the exact reason why I managed to get £600 back off the bank, even though, and I quote ["we owe you three times this"]. Animals.
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They are now and you can't claim back. They changed the contracts. However most banks wont charge you again if the charge puts you back in the red and most if will refund one charge if you phone up and have not been in the red for a while.
 
Chris [BEANS];18811889 said:
Don't know the first thing about your circumstances mate, or which bank you're at or their policies etc...

Which part of the specific example I've given don't you agree with?
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Santander, terrible bank in my opinion also vis a vis the 'drug dealer' treatment received the other day!

Some banks will not let you go into the red. End of story. However, Santander have this weird policy which is, and I again quote what they told me on the phone, "if it's a card payment, we honour it". This basically means if you make a small card payment which will take you into the red they'll put it through because they know they can charge you for it. There are many banks who don't do this for obvious reasons, it'll just be declined. The other unfair part is the one where they charge you again for going into the red because they took you there.

That particular charge is called an 'unauthorised overdraft fee'. Now that fee is nothing but a penalty charge since going into the red costs the bank nothing, they don't lose money which they have to recoup from you [AcidHell this charge can still appear, though it's been renamed]. So you think ok, if there's a possibility you may go into the red, why don't you arrange a small overdraft with them? Good idea! Well, they wouldn't let me have one! In spite of the fact that I had a steady stream of wages going in every month [at that time it was about £1500 a month] they still refused to give me a small overdraft until I had stayed consistently in the black for about six months to a year, which seeing as sometimes they slapped me with charges of £100+, was hard to do. Your wages get less and less because you're just making up what they've charged you - and they'll charge you again for it. It's a vicious circle.
 
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Duke said:
Especially with online/phone banking.
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Santander are a nightmare.
I have had it before, when you know what money is coming out and when.
So say for example, you transfer some funds into your account the day before direct debits are due to be paid (direct debits come out after midnight ie the following day)
You check your account, yep money gone in, great, job done.
No, check your account a couple of days later, and guess what ? the money you transfered all of a sudden went in after the direct debits came out.
£25 charge thank you very much, cannot prove it to them.
 
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