ScooBStu

Anyone have any recomendations - I have been with Alliance & Leicester for a while and everything was fine till I accidentally went over my overdraft limit for 2 days and was stung by £50. Be very aware of these con artists. It is the first time I have ever done it and they would not give the money back. I dont want any cocky remarks about it being my own fault - It is downright theft.

So rant over does anyone have/know of a decent bank who pays decent interest and understands that occasionally things like this happen.

Cheers

paul-s

register it as a complaint then ask for a final response letter so you can take the case to the Financial Ombudsman Service. They wont provide this and go to deadlock because it costs them for the FOS to investigate it on your behalf, so chances are you will get a refund.

then buy me a beer

Akuma

Have you read the small print on your account? It will tell you what the charges will be if you go over your limit.
If it does tell you what the charges will be, then I doubt you'll get a refund.



We're with Nationwide - so far they've been great, but even they charge if you go over your limit, I don't know of a bank that doesn't.

scooter(WRX03 PPP)

Give Citicards (part of Citibank) a go. There is a website called Moneyfacts and they tell you which banks are fair.

dharbige

Check out this thread on reclaiming (illegal) bank charges

Hanley

It's in the small print in your account terms and conditions.

Unfortunately you have no complaint.

dharbige

Yes, you do.

The bank is entitled to charge you for going overdrawn as this is effectively a "breach of contract", but the charges "must reflect actual costs incurred and not exceed damages the bank suffered due to the breach of contract".
So called "penalty charges" are not legal.

More information here

Hanley

Also taken from www.thisismoney.co.uk

10. Avoid history repeating itself

The best way to stop banks ripping you off is not to allow them to issue you with penalty charges. Don't miss payments, don't go into unauthorised overdraft territory and don't go for banks you know mistreat people.

If you speed you get a fine and/or points.

If you eat too much you get fat.

If you smoke you run the risk of cancer.

If you run up huge credit card bills cause you think you 'deserve' that nice tv and miss payments you will get charged.

If you withdraw money from the bank that you don't have then you'll get charged, after all it's not your money!!

People need to be aware of the results of their actions. I'm sure a big percentage of people have a genuine claim but I'm doubly sure a big percentage of people just take the p155.

GaryK

Yes Ive been with first direct for years and I think they are superb bank. However straying over my £500 overdraft limit for a few days incurred charges totalling nearly £100 :O So a quick call where I was firm but polite and they withdrew the charges!

James Neill

iTrader: (1)

First Direct is my bank of choice. I originally worked on their Internet Banking system too.

http://www.firstdirect.com/

You get a free £250 oveerdraft. Decent interest - especially on their e-Savings account. You can call them up and speak to a (English) human being 24 hours a day or you can do your banking online. More so, if you need to pay anything in then you can use HSBC branches.

Another thing is that for £11.95 a month you get this FirstDirectory membership which inlcludes mobile phone insurance, travel insurance for the family, free text messages saying when money is paid in or out of you account. Plus money off vouchers for various attractions round the UK.

Hanley

You may want to think about opening a HICA - High Interest Current Account.

Halifax appears to be the best one, although there ad campaigns are just downright annoying, it has persuaded 500,000 new customers to sign up.

Tony MY03WRX

Another vote for First Direct....been with them for 9 years now

ScooBStu

What I dont understand though is that I didnt have the funds to pay it and they paid it. The first charge is for £25 for them making the decision to pay it and the second charge was for £25 for exceeding my overdraft limit, however they were the ones who decided to pay and therefore they are the ones who made my account go over the over draft limit - i.e. they took the money without consulting me which led to the second charge - How does that work!!!

I know I may have been stung more for missing a mortgage payment but so what - Why can they make the decision.

dharbige

I'm not advocating being slack with one's finances.

However, banks that automatically charge £50 for going overdrawn for a couple of days are BREAKING THE LAW. The customer who has gone overdrawn is not.

The Snug Rhino

If something is illegal the font size will not matter

I have £1600 on its way to me from FD and their "small print" chages

Hanley

Then maybe you won't have to go overdrawn in future

The Snug Rhino

maybe, lifes a bit short to worry about such things!

Stiff

www.bankchargeshell.co.uk

shaun1967

try these www.consumercorner.co.uk