The banks still think it's fair to charge someone £30 for going 2p over drawn?

Question

how?

Answer 1

The banks have lost their appeal against the OFT, so perhaps this practice will stop soon

Answer 2

ME

is chatting ****

I dont have a bank account for said reasons,they are a bloody rip off

I use credit union,a bit long but no charges whatsoever.

Answer 3

unfortunately yes, and they can still charge people overdrawn before the decision made in the test trial.

However, you can still claim it back regardless of their charge as that £30 penalty is unlawful.

Answer 4

I thought the amount of the overdrawn charge could not exceed the amount by which you were overdrawn (in your case 2p)

Try looking at Martin Lewis site

www.moneysavingexpert.com

Answer 5

Its disgusting! I got into a situation a couple of years ago, that when they charged me for going overdrawn by a stupidly small amount, they would charge me £30, then that would take me further overdrawn and they were charging a further £100 for going further overdrawn. Went on for months like this. Avoid First Direct like the plague!

Answer 6

I'd rather banks charge people for going overdrawn then charge people to use the bank facilities.

I always make sure I have money in my account before I use my card or withdraw money out.  

Some people keep going over and over drawn on a regular basis, thats their fault if they don't learn from their mistakes.

I idmit that the bank charges to much, it should be something like £5-10, but like I say, I'd rather they charge people for that then using the facilitiies.

Answer 7

You can claim it back but it's a pain in the a****.

What i'd recommend is getting an overdraft of say £50, as then if it goes over you won't get charged.

Also, change your direct debits to standing orders- if you do this then if you don't have the cash, nothing happens (saves you getting charged for a bounced direct debit).

The banks only do this becuse we let them - make it so they can't (ie with overdraft facility) and it should be ok.

Answer 8

Manage your money better.  You can blame others all you like but its your responsibility, no one Else's. Take steps to avoid this, it can be done. Stop blaming and take charge.

Answer 9

Because at the end of the day you are using their money without consent and that isn't acceptable. I wish everyone would stop moaning about this and accept they are at fault for not being able to manage their money properly. I have never had a problem with charges!

The banks will still charge you all that has been decided today is that the charging policy will change and there will be many more hearings before a decision is reached and you will not be allowed to spend their money regardless.

Answer 10

most have lowered their charges now and if it's for only 2p then keep complaining until it's corrected, i got a refund when they charged me for going about 60p overdrawn.

Answer 11

i dont agree with you - the rules are clearly there, you break them at your own peril - dont want to pay overdraft charges? then dont spend money that is going to make you overdrawn.

it may seem unfair to you, but everyone with a bank account gets a printed statement 2 times  a month - that is a lot of letters to print, stuff and post - provided free of charge

what has happened now will only make all banks start charging monthly fees for having a bank account, which in the bigger picture will cost most people more money, so which is more unfair ?

Answer 12

because it will hit their profits if they dont....oh well dont bother me...all you need to do is threaten to take them to court and you get your money back,  with interest lol.

Answer 13

you can now begin to claim your money back. Visit the GMTV web site and click on the financial advisor, he will inform you of the process to take the bank to court and earn your money back.

Answer 14

Well obviously it's fair. You just need to look at where the money is going.

You need to pay for the extra line or two printed on your statement telling you about the charge, the letter they generally send to you to tell you you went over drawn, the envelope and the postage for this, the oblitigory contribution to the boss's annual bonus, even more to his pension fund, plus a little bit to put aside for when he screws up the bank Nothern Rock style and gets a huge pay-off to leave....

Answer 15

banks are stupid and greedy! end of! So glad my bank wouldnt let me go overdrawn! I tried it just gave me my card back lol