Changing A Bank Account?

Question

I have been with Abbey for more years than I care to remember.

This month, for the first time I went 55p over my overdraft limit and was astounded when my statement arrived this morning and I discovered that I have been charged £46!

Does anyone have any experience of claiming back charges like these?

Also, I was thinking of changing to Lloyds TSB as my firm bank with Lloyds and my workcolleagues who have Lloyds accounts always get paid 3 days ahead of everyone else.

What are your thoughts of Lloyds.

Thanks for answering.

Answer 1

Hi Chig,

I think probably all the big banks works generally the same. So couldn't  say if Lloyds would be any better.

I did hear somewhere that charges have to be reasonable, and around £12 for each breach, certainly not £46.

Go in and speak to them and see if you can come to some compromise with them.

You would certainly get your money in the bank quicker if you had the same bank as your employer.

Good luck.

Answer 2

I recently swapped my bank account from Abbey to LLoyds TSB.

The only reason I did it as so that I could be with the same bank account as my wife.

Would I found great with Lloyds was that they took care of transfering all my direct debits to my new account.

Answer 3

It doesn't matter who you bank with in the UK. If you go into overdraught, or past your limit, you will get soaked with an enormous fee. Some banks charge as much as 75 pounds for this.

This is a classic example of tapping the poor to subsidize the rich. This is how they are able to offer "free" banking. Since the well to do never overdraught, the poor are socked with a big fee.

While this has long been recognized as a problem, nothing is being done about it. Unless someone gets their MP interested in draughting a law that would regulate banking fees, this is never going to change.

xx

Answer 4

If you are unhappy with you current provider then it is easy to switch accounts as most banks offer a switcher service, which transfers direct debits etc for you.

When looking for a new account look at how you use your account. If you live in your overdraft there is no point getting an account paying the best credit interest rate. If you log on to www.moneyfacts.co.uk you can find the best accounts for credit interest and overdrafts.

All providers will make charges for going into an unauthorised overdraft, so regardless of which provider you choose you will be charged. However, some offer a buffer amount for going over a small amount.

If you contact Abbey, they may refund the charge as a good will gesture, which will be easier than going the court route. If you do decide to claim you need to be aware that claims are on hold until a final decision has been made on the test case at the high court.

Answer 5

All banks are the same hun. They all charge if you go overdrawn and give you no loyalty benefits no matter how long you've been with them. You could try going in to a branch and seeing a manager about it, they are the only one with any real authority but don't hold your breath as it would be in your terms and conditions that they charge for going overdrawn. I recently changed to natwest and they have a cool thing where they text your if your money goes low and is at risk of going overdrawn. Hope this helps.

Answer 6

yes i got bloody overdarft even though i was 17.

they are right beaches.

and just change to any other account apart from abbey.