Tidgy

amy be a repost but, If your with Hbos and use your overdraft your gonna be charged £1 for everyday your in your voerdraft after the 6th of december, so be carefull folks.

BBC NEWS | Business | Your Money | HBOS to alter overdraft changes

Gear Head

iTrader: (2)

Halifax are about to do the same. *******s! As if it costs them that much in lost interest.

They really are a bunch of thieving c&nts!

Tidgy

just rung barclays to see if they are gonna be charging and they wont be. so guess where im staying

EddScott

Has been posted but its worth mentioning again just for the shear bare faced cheek of it!

AFAIK its only the government run/f*cked banks that are going to be doing it - RBS does this already I think.

As I said in the last thread, I've got a £3K OD and in the past I've been in the red month on month - and quite often over 2.5K. With no means of getting into the black that would probably work out to about £50 a month at least in charges rather than the £30 when it was rate based.

Fortunately I'm in the black all the time now and am planning to move banks. I'm going to HSBC next week for a business loan so if they ask me to move to them as part of the deal I'll be happy too - would rather First Direct though.

Trout

iTrader: (1)

Halifax are HBoS.

And I am not sure how someone asking you to pay up for you to use their money makes them a thieving c&nt.

I am sure you would happily lend your friends hundreds or indeed thousands for no cost if that was your only calling in life

Gear Head

iTrader: (2)

Think I will be moving too!

Gear Head

iTrader: (2)

Sorry, I mis-read that as RBS!

I can accept paying for credit (not that I am in my over draft often) but not when they change the rules after you open an account, setup direct debits, mortgage payments etc. Plus I have savings in another HBOS account. Do you think it is fair if I am £10 in the red in one account, £1000 credit on another and they charge me a fee? I think not.

Lee247

Are they not linked to RBS in some way, Trout (I nearly called you Rannoch )

I actually have one of RBS credit cards in the hands of the Financial Ombudsman at the mo'
Thankfully, I closed the account as I only had £32 to be paid on it, but the letter saying they were going to be hiking the interest rate up to 38.85% saw me cut the card into 3 and send it back, pronto. Was amazed the FO were interested, but I got my letter of the go ahead, yesterday. Will keep you informed of how I get on

Geezer

Yes, it's fair. When you enter in to a contract with the bank (i.e open an account and agree to their T&Cs) you have a responsibility to manage your accounts accordingly. The fact that you had an account in credit is utterly irrelevant, you agreed to pay any charges the bank deems fit if you go overdrawn on that account. You could easily move money from one to the other to avoid going overdrawn.

As usual, there are some winners and losers here. Habitual overdrafters of large amounts will win, as £1 per day is peanuts, but people who just drift over will not.

At the end of the day, you can vote with your feet. The grass is always greener, however.........

Geezer

Trout

iTrader: (1)

Chris it is like saying that when you buy a Ford Focus that Ford then cannot put up the cost of servicing for the time you own that car. It's not going to happen and you can vote with your feet.


Lee - the only relationship between RBS and HBoS is that they are both parochial Scottish banks that both tried to grow far faster than they were capable of and between them lost more money than the economies of most of the Worlds countries.

EddScott

How anyone can say that is fair is beyond me - its a con! pure and simple.

Those with large ODs that don't hit the black from one month to the next are stuffed - they can't move banks because a new bank won't take them on and instantly give them a huge OD. These people have no choice but to go onto the new charging structure and have no say in the matter.

Its nothing like upping the charges - its a fundamental change in the way the accounts are operated and HBOS know full well that they are going to royally screw a vast majority of people and they know full well that many people will have no choice because they can't move.