I have been charge twice for going over my overdraft. My bank allowed 2 direct debits to go through?
I had two direct debits to go out of my account but there wasn’t enough money in my account, the bank allowed them to go through but charged me £25 for each direct debit. I have also been informed that I will be charged for going over my over draft in my next statement. I have been charged £50 so far and don’t know what to expect in my next months statement. I heard recently that bank where not able to charge so much for this type of incident, is that true??
Would appreciate any help advice
Answers:
Listen, do yourself a favor and get an ATM debit card that has a checking account attached to it. There are never overdraft fees, your money is your money and is only deducted if you deducted. You are in control and not the bank. This card has other neat features also. You will love it.. I do. Email me at: maxnit@yahoo.com
i dont know if its true i too have heard this .. however they keep charging me like every bloody month for the same thing.. and cause they keep charging me i have less money and the same cycle starts again.. if you find out let me know too . x
its all in the paperwork- im sure they can do that .
I don't know how much they are allowed to charge you, but if you knew there was not enough money in the account to cover your DD's, its YOUR responsibility to ask the bank not to make the payments.
Good luck sorting it out though.
HSBC?
real bastards!
i'm so pi$$ed off with them i'm gonna leave the bank account open with 1 penny in it.
It is perfectly legal for them. Overdraft Protection? Is nothing more than instead of you paying a store for a bounced check the bank pays the NSF then, gets all the money from you for Non Sufficent Funds. You got 2 choices threaten to close your account (the bank might give you some slack) or just find yourself another bank.
If you postdate a check the bank will automatically cash it no matter what day it is. Yet, they will not cash a payroll check that is post dated? Why? They can make more money off your checking account that way. They go by the rules for the big customers
yh they are allowed to do it as they did it to me. If its never happened before you can maybe call them up and talk to them, and they may take some money off the charges, that is if you be polite to them. There is a new service that i remember reading in the paper that will try to get your money back for you, but i cant remember the name sorry, but you could try looking it up.
Do you have an overdraft facility. An amount where you are allowed to bbecome overdrawn before you get charged. For example if you had say an arranged overdraft facility of £500 this would allow you to be over drawn to the tune of £500.
You should not get to rely on an overdraft facility, but it can help to get you over a sticky financial period till you get on your feet again. And when you do you will feel on top of the world and will not want to be overdrawn. It shows that you are managing your finances.
I hope you get this matter resolved soon!
www.moneysavingexpert.com (Martin Lewis's website)Try it good tips and money advice.
I hope this does not all sound patronising? It is not meant to be, especially as I myself know what a worry financial dificulties can be. xx
Try this link it should help you. The way I see it is it's YOUR account you should have known the DD where due to go out, there for you should make sure there is enough monies in the account to pay them.
Good Luck.
http://www.moneysavingexpert.com/cgi-bin.
They are able to charge you for this - BUT new legislation is coming in in order to try and get banks to reduce their charges. If you feel very strongly about this, contact your bank and drop the word "court" in there, they may refund you in order to avoid court action. I used to work for a bank who shall remain nameless and our charges were extortionate - but our director had told us that the FSA will be changing this. So it shouldn't last forever.
I've had this exact problem with HSBC recently - in july they charged me £150 for allowing direct debits to take me over my overdraft limit while a cheque was clearing through my account.
Unfortunately I argued the case with both online banking (useless venture considering the indian call centre barely understands what I'm saying), my branch manager AND the head office in scotland.
I was told that basically I could do nothing about it.its the charges that I agreed to when i took out my account. I think this is untrue though (I think they were put up recently) but I've not had chance to check.
Either way, its their way or the highway I'm afraid. Personally I'm considering Lloyds TSB instead.
they can and they will
the bank has 2 choices when it comes to direct debits. they can choose to pay them, and charge you for going overdrawn, or.
they can refuse to pay them and charge you a returned direct debit fee.
either way they get paid. as one of the previous answers put, it is your responsibility (not theirs) to run your financial affairs properly and make sure there is enough money in the account.
sorry - nothing you can do about it, banks are very good at noifying you of chargeing stuctures
Having had some experience of this , i can only tell you that You must have known that there where going to be insufficient funds to pay the direct debts, what you should have done is cancelled them albeit temporarly, and informed the debtors, that you would pay as soon as you sorted your fiances out, that way you keep every one happy, and it doesnt cost you, to sum up ITS GOOD TO TALK
Take them to small claims court. It will cost them to much to have someone to represent the bank therefore they will not show up in court and the judge will award you the case. Before you do that you should research what steps you should take. Such as sending them an letter saying there actions are illegal and they must refund you. If they don't then you take them to court. You might want to switch banks before you do this they might decide to close your account if you get your money back
they paid the direct debits. call the bank and find out what the charge will be for going overdraft. did u go over the limit?
If they did, they can because you signed the papers.
If you haven't been overdrawn before, you might get them to waive their fees by taking out an over-draft protection plan with them. This should not be used as a credit card for any other reason and should not be relied other than keeping checks from bouncing at certain times of the month. You need to keep thiz balance at zero by the end of the month or you are digging yourself yet another hole.
Keeping better track of your money in your account will definitely help in the future as might a debit card.
Yes, it's so true! See the Which? website which contains details of how you can go about claiming the charges back. Bear in mind that you risk the bank closing your account if that's their policy.
http://www.which.co.uk/reports_and_campa.
banks play a cruel game they have charged you for them going through and they would have charged you if they had refused them its criminal at least you don't bank with halifax
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Would appreciate any help advice
Answers:
Listen, do yourself a favor and get an ATM debit card that has a checking account attached to it. There are never overdraft fees, your money is your money and is only deducted if you deducted. You are in control and not the bank. This card has other neat features also. You will love it.. I do. Email me at: maxnit@yahoo.com
i dont know if its true i too have heard this .. however they keep charging me like every bloody month for the same thing.. and cause they keep charging me i have less money and the same cycle starts again.. if you find out let me know too . x
its all in the paperwork- im sure they can do that .
I don't know how much they are allowed to charge you, but if you knew there was not enough money in the account to cover your DD's, its YOUR responsibility to ask the bank not to make the payments.
Good luck sorting it out though.
HSBC?
real bastards!
i'm so pi$$ed off with them i'm gonna leave the bank account open with 1 penny in it.
It is perfectly legal for them. Overdraft Protection? Is nothing more than instead of you paying a store for a bounced check the bank pays the NSF then, gets all the money from you for Non Sufficent Funds. You got 2 choices threaten to close your account (the bank might give you some slack) or just find yourself another bank.
If you postdate a check the bank will automatically cash it no matter what day it is. Yet, they will not cash a payroll check that is post dated? Why? They can make more money off your checking account that way. They go by the rules for the big customers
yh they are allowed to do it as they did it to me. If its never happened before you can maybe call them up and talk to them, and they may take some money off the charges, that is if you be polite to them. There is a new service that i remember reading in the paper that will try to get your money back for you, but i cant remember the name sorry, but you could try looking it up.
Do you have an overdraft facility. An amount where you are allowed to bbecome overdrawn before you get charged. For example if you had say an arranged overdraft facility of £500 this would allow you to be over drawn to the tune of £500.
You should not get to rely on an overdraft facility, but it can help to get you over a sticky financial period till you get on your feet again. And when you do you will feel on top of the world and will not want to be overdrawn. It shows that you are managing your finances.
I hope you get this matter resolved soon!
www.moneysavingexpert.com (Martin Lewis's website)Try it good tips and money advice.
I hope this does not all sound patronising? It is not meant to be, especially as I myself know what a worry financial dificulties can be. xx
Try this link it should help you. The way I see it is it's YOUR account you should have known the DD where due to go out, there for you should make sure there is enough monies in the account to pay them.
Good Luck.
http://www.moneysavingexpert.com/cgi-bin.
They are able to charge you for this - BUT new legislation is coming in in order to try and get banks to reduce their charges. If you feel very strongly about this, contact your bank and drop the word "court" in there, they may refund you in order to avoid court action. I used to work for a bank who shall remain nameless and our charges were extortionate - but our director had told us that the FSA will be changing this. So it shouldn't last forever.
I've had this exact problem with HSBC recently - in july they charged me £150 for allowing direct debits to take me over my overdraft limit while a cheque was clearing through my account.
Unfortunately I argued the case with both online banking (useless venture considering the indian call centre barely understands what I'm saying), my branch manager AND the head office in scotland.
I was told that basically I could do nothing about it.its the charges that I agreed to when i took out my account. I think this is untrue though (I think they were put up recently) but I've not had chance to check.
Either way, its their way or the highway I'm afraid. Personally I'm considering Lloyds TSB instead.
they can and they will
the bank has 2 choices when it comes to direct debits. they can choose to pay them, and charge you for going overdrawn, or.
they can refuse to pay them and charge you a returned direct debit fee.
either way they get paid. as one of the previous answers put, it is your responsibility (not theirs) to run your financial affairs properly and make sure there is enough money in the account.
sorry - nothing you can do about it, banks are very good at noifying you of chargeing stuctures
Having had some experience of this , i can only tell you that You must have known that there where going to be insufficient funds to pay the direct debts, what you should have done is cancelled them albeit temporarly, and informed the debtors, that you would pay as soon as you sorted your fiances out, that way you keep every one happy, and it doesnt cost you, to sum up ITS GOOD TO TALK
Take them to small claims court. It will cost them to much to have someone to represent the bank therefore they will not show up in court and the judge will award you the case. Before you do that you should research what steps you should take. Such as sending them an letter saying there actions are illegal and they must refund you. If they don't then you take them to court. You might want to switch banks before you do this they might decide to close your account if you get your money back
they paid the direct debits. call the bank and find out what the charge will be for going overdraft. did u go over the limit?
If they did, they can because you signed the papers.
If you haven't been overdrawn before, you might get them to waive their fees by taking out an over-draft protection plan with them. This should not be used as a credit card for any other reason and should not be relied other than keeping checks from bouncing at certain times of the month. You need to keep thiz balance at zero by the end of the month or you are digging yourself yet another hole.
Keeping better track of your money in your account will definitely help in the future as might a debit card.
Yes, it's so true! See the Which? website which contains details of how you can go about claiming the charges back. Bear in mind that you risk the bank closing your account if that's their policy.
http://www.which.co.uk/reports_and_campa.
banks play a cruel game they have charged you for them going through and they would have charged you if they had refused them its criminal at least you don't bank with halifax
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