BANK ACCOUNT FEES ON OVERDRAFTS ?

[Saltire]

I just have a normal standard current account with my bank and I have a set ?300 overdraft limit on it (with Mastercard debit card for the account).

Anyway, I noticed that they said as of 1st Dec 2014 all customers same as me that are with them will get charged ?6.00 per month if I even use 1 penny more than ?25 of my overdraft.

So I just called them up there (I have that phone banking set up) and asked them if that was correct etc ?, they said yes as of 1st Dec our charges change just like I explained.

I dont mean going over your overdraft limit like into the red or black or whatever you call it, I mean just your normal overdraft, so for example if you get say ?300 per week wages and have a set ?300 overdraft, if untouched your balance would be ?600, you see what I mean ?

So lets say you spend your wages of ?300 and use a bit of your overdraft, just say any amount of your overdraft that is over ?25, so if you maybe used say ?70 of your overdraft, that means that you will be charged ?6.00 at the end of that month and each month after that until you get your overdraft below the ?25 mark again.
They said there has always been charges/fees and its probably been because they were only like ?1 or 1.40 each month that I didnt notice them as much, but they defo said charges are going up.

You follow me ?

Anyway, I asked them was this right across the board with all banks, and they said lots already charge much more than that and that they doubted very much I would find a Bank with a Normal Current account that doesnt charge amounts similar or a lot more right now.

I know when you devide it by 31 days (month) then its only ?0.19p per day, much easier to look at it that way, , but they said a lot a banks are changing fee's if not already.

I had a quick look about the internet (comparison sites etc) and I dont know if maybe I am missing something, but it looks like they are correct, there are a couple that do an offer of 12 months fee-free on overdrafts, but after that 12 months they charge too, so its just the same thing really, strange thing was/is, my bank is quoted as one of the best for the fee's in the comparison site I used, cant remember what one it was, moneysupermarket or something like that I think it was.

Anyway, question for you guys, do you know of a way round about this, I mean is there banks with currents accounts etc that you dont get charged a fee monthly for this cr*p that I maybe just cant find ?, I just mean same as what I have, normal Current account with the option to get a few hundred overdraft if you want it, thats all ? I know the easy funny answer to this is simply dont even use the overdraft, but I think we all do if we have one, dont we ? I have always done so anyway.

Let me know will ya please if your into all this kind of stuff ?, I will be honest and admit I dont have a scooby with bank accounts and credit cards etc, p.s, I also have the best credit card on the market, voted the best for 2 years in a row now and thats the Tesco bank one, only got that to get the deal they had on 0% interest on purchases over summit like 18 months, and I am just about to clear that next payment, waeheyyyyyyy , but anyway, thats nuffin to do with it I guess anyway. Cheers

[Diddy]

Barclays charge ?0.75 PER DAY for anything over ?15 (Buffer) upto ?1000 then its ?1.50 per day....finally over ?2000 you are upto ?3 per day. Ordinary people will be hit with the 1st tier in the main....but businesses ect will cop the higher charges. Well obviously that is the theory but anyone can be hit with the charges if they run in overdraft. This is apparently the banks response to the reclaiming of bank charges which they have now replaced with FEE's instead....cleaver eh ?

[Meat-Head]

Plods (iShit Failiure) lloyds think is of was fairer, you got 24 toasters to repay it or something

[lagerland]

There all thieving bastards had one once,charge for using it,charge for going overdrawn,then interest on it,and to finish it off 30 quid for a letter to tell you your overdrawn.The moral of the story is just dont ave one...................................

[aftermath]

remember all the PPI compensation ? its gonna hit it all the banks exactly the same with bank charges... watch this space..

[aftermath]

banks are worse than scousers for robbing people

[maca]

ffs easy

[jaws2]

Bankers, Politicians, Press, Meat-Head.. enough said

[Kalipo]

Having an overdraft means your shyte with money!

I don't have one and i don't ever use all the money in my account!

I'm in the process of changing from santander to nationwide and got offered an overdraft.. instantly ticked no... why borrow money you dont have ?? Simplez!!

[jaws2]

Thats why Meat goes ter Iceland............

[Diddy]

Having an overdraft means your shyte with money!

I don't have one and i don't ever use all the money in my account!

I'm in the process of changing from santander to nationwide and got offered an overdraft.. instantly ticked no... why borrow money you dont have ?? Simplez!!

Or perhaps you have enough cash/wages or whatever to cover your essentials and others through a multitude of reasons (Sickness, injury, sudden unemployment to name a few "valid" reasons). So no having an overdraft does not mean you are shit with money . The fact of life is that it is the people who pay charges that enable banks to offer the services they do for the price they do while still at the same time being greedy reckless barstewards and keeping their shareholders happy too. Lots of businesses survive only with the aid of an overdraft facility due to cashflow and the nature of many businesses in the "credit" they have to give other businesses ...they speculate to accumulate. These are a direct response to the reclaimers and to make sure they don't get caught with their pants down again.
But do have my congratulations for having more than enough ready cash at any given time....well done .

[Meat-Head]

Having an overdraft means your shyte with money!

I don't have one and i don't ever use all the money in my account!
!!

Same here MINIMUM Of three months mortgage money at all times and ?100 incase dk donation page ones on.

did have ?500 over draught but never used it, bastards removed it, think idea is I use it when not got it and wham

[Kalipo]

Or perhaps you have enough cash/wages or whatever to cover your essentials and others through a multitude of reasons (Sickness, injury, sudden unemployment to name a few "valid" reasons). So no having an overdraft does not mean you are shit with money . The fact of life is that it is the people who pay charges that enable banks to offer the services they do for the price they do while still at the same time being greedy reckless barstewards and keeping their shareholders happy too. Lots of businesses survive only with the aid of an overdraft facility due to cashflow and the nature of many businesses in the "credit" they have to give other businesses ...they speculate to accumulate. These are a direct response to the reclaimers and to make sure they don't get caught with their pants down again.
But do have my congratulations for having more than enough ready cash at any given time....well done .

OK.. So surely you wouldnt be in a mess if you didnt live above your means.. if you earn ?200 a week and your bills total 200 for the week then surely you should look at lowering your outgoings to match you incoming?? and that means loosing the internet or that chocolate pie!

Same here MINIMUM Of three months mortgage money at all times and ?100 incase dk donation page ones on.

did have ?500 over draught but never used it, bastards removed it, think idea is I use it when not got it and wham

I tend to have a ?4k buffer in my bank.. the rest i either leave in my bank and the rest i have in my house.. which is generally 500 - 1k

Overdrafts are for mugs and who like to be fleeced by the banks

Just saying!

[Meat-Head]

Overdrafts are for mugs and who like to be fleeced by the banks

Just saying!

only had over draught cos it is/was freee