I understand that banks are there to make money....

Question

but, how do they really expect one to get their overdraft down when the enormous bank charges take precedence over important bills?

Are they asking the impossible?

I paid £312 for my sons new school uniform yesterday and I am now financially buggered!

Answer 1

I know you wont like this, but, the only thing you should ever borrow money for or go overdrawn for is to buy a house.   Everthing else can wait, or you can do without.

Answer 2

Yeah they do seem to get away with murder some of these banks, my bank charged me £28 today because i went £2.49 overdrawn 3 weeks ago and that was only because they cancelled the wrong direct debit. I agree that banks should charge a fee for late payment or going beyond your overdraft but £28. Think how many people go overdrawn by accident everyday, they make a fortune out of someone elses suffering. Its wrong and i do hope they get stomped on when people start claiming back these fees!

Answer 3

I have to agree with the other answerers, you need to manage your money better, especially considering your situation. For example, I bet if you shopped around and made wiser purchases, your sons uniform would have come to MUCH less than £312. My nieces school uniform, including shoes and books, came to £109.

Consider this, imagine if the banks didn't let you borrow that money - how would you then afford to make those purchases? You're overspending, plain and simple.

Answer 4

I can truly  sympathize  with you. I am also having troubles with a so called bank and overdraft fees.  I recently found a credit union and am now a very happy customer of theirs. Do you have anything like that in your area?  Credit unions tell you that you are their members and you control your accounts. They don't charge you outrageous amounts of money you don't have.They also don't make money off of your money!

Answer 5

banks take the p**s.id ignore the last comment.i cant belive how much your childs uniform cost i havnt got my sons theirs yet and im dredding it

Answer 6

You might want to shop around: different banks offer different sorts of accounts and fees for "whatever" sometimes vary a good deal from one to the other.

Answer 7

Shop around for a better bank, they are there to make money; but so are you, if you are unhappy with the product on offer go else where

Answer 8

Manage your money, Don't borrow what you can't afford to pay back and stop blaming them for your incompetency you are using their money without permission!!!

Answer 9

If you don't want to pay the bank charges then don't overdraw, it's not rocket science.