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wolfspirit
Old Royal - I Post too much!
United Kingdom
5741 Posts |
 Posted - 22/08/2009 : 12:08:11
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Just thought i would let those of you who need to know about this...
Just got off the phone with my wonderful ( crap ) bank and they informed me that ALL banks are going to start charging daily for being overdrawn...
under a thousand is going to cost you a £1 a day and over will cost you more...
Guess they have to claw back the money they have to pay the government somehow for there balls ups dont they.. |
"No one can go back and make a brand new start. Anyone can start from
now and make a brand new ending."
-- Source Unknown
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MissCat
Fully Grown Royal
1971 Posts |
Posted - 22/08/2009 : 12:18:12
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| erm overdrawn as in agreed overdraft or non agreed overdraft? |
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wolfspirit
Old Royal - I Post too much!
United Kingdom
5741 Posts |
Posted - 22/08/2009 : 12:42:00
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Halifax Bank of Scotland, which is now owned by Lloyds Banking Group, launched its Reward current account in February, offering customers a bonus of £5 a month for every £1,000 paid into the account.
But customers are going to be charged £1 a day for using their agreed overdraft – and must pay £5 a day if they exceed it.
equates to interest of 146%
other banks are going to do the same |
"No one can go back and make a brand new start. Anyone can start from
now and make a brand new ending."
-- Source Unknown
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MissCat
Fully Grown Royal
1971 Posts |
Posted - 22/08/2009 : 12:56:17
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| ohhh ruddy ell |
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wolfspirit
Old Royal - I Post too much!
United Kingdom
5741 Posts |
Posted - 22/08/2009 : 13:16:48
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| thats not what i said on the phone..lol. |
"No one can go back and make a brand new start. Anyone can start from
now and make a brand new ending."
-- Source Unknown
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kashie
Sub Adult
United Kingdom
567 Posts |
Posted - 22/08/2009 : 13:51:48
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| I'd check out the Consumer action group website and see what they got to say about that - what with the fight for unlawful bankcharges going on I think the Office of Fair Trading would have a field day on that one!!! |
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wolfspirit
Old Royal - I Post too much!
United Kingdom
5741 Posts |
Posted - 22/08/2009 : 14:37:53
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quote:
Originally posted by kashie
I'd check out the Consumer action group website and see what they got to say about that - what with the fight for unlawful bankcharges going on I think the Office of Fair Trading would have a field day on that one!!!
yeah i know Karen, but the banks are hell bent on US paying for the screw ups they made that caused this whole recession...
I think we can yell all we like, but it is coming as of Jan 1st 2010, from what i gather some banks are doing it already... |
"No one can go back and make a brand new start. Anyone can start from
now and make a brand new ending."
-- Source Unknown
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Gingerpony
Royal Python Moderator
United Kingdom
2663 Posts |
Posted - 22/08/2009 : 21:32:49
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oh ar$e!  |
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Vazzza
Yearling
United Kingdom
131 Posts |
Posted - 24/08/2009 : 09:53:33
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| GRRRRR. I've just applied for a loan to pay off the evil credit card, outstanding bills and get myself out of my overdraft. Its soo hard to get back into the black |
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Kazerella
Royal Python Admin
United Kingdom
1196 Posts |
Posted - 24/08/2009 : 11:42:06
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I was going to reply- but the swear filter would block my initial reaction  |
 
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chris100575
Sub Adult
United Kingdom
743 Posts |
Posted - 24/08/2009 : 12:05:05
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| Thankfully there's no sign of this with my bank. It remains to be seen whether they're going to sneak it in next year though. |
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Janos
Hatchling
United Kingdom
77 Posts |
Posted - 24/08/2009 : 16:41:39
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Ah crap...I'm with HBOS...
It sucks, I can barely feed myself already >.< |
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Blackecho
Royal Python Admin
United Kingdom
11327 Posts |
Posted - 24/08/2009 : 17:00:33
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If you're in your overdraft though you're not feeding yourself though are you, HBOS are. It makes sense (financially) for them to charge you for the privilege.
They used to make a lot of money from the people with savings and accounts in the black by investing them. The current climate is such that investments are not making the same returns they were 3 years ago.
Look at the savings most people have made from the mortgage rate cuts recently, I bet its considerably more than the £30 per month the bank is asking for.
If a friend of mine leant me £500 I'd be quite happy to pay him £1 per day until I paid it back.
Just being devil's advocate, no offence meant. |
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boze
Yearling
United Kingdom
408 Posts |
Posted - 24/08/2009 : 18:47:43
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Its totally different, its like borrowing £500 off a mate and agreeing that you wont have to pay any more than £500 back, then after youve got the money he says "actually you now need to give me £1 a day PLUS the £500 back"
This is wrong, an extra £30 a month might not be much to some people but its a hell of a lot to me and a hell of a lot to pretty much every student in the UK. I live hand to mouth just now and £30 extra a month would force me out of college and into work
D |
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0.0.1. Western Hognose (Spiderman)
quote:
Originally posted by ruxpin64
I'm so happy I may lay on my back and pee in the air like a baby!
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chris100575
Sub Adult
United Kingdom
743 Posts |
Posted - 25/08/2009 : 09:04:07
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| I object to this on moral grounds, it's the banks that dropped the ball by lending money to people who couldn't afford to pay it back and then treating those unpaid debts as assets. Why should we pay to bail them out? |
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Paulusworm
Fully Grown Royal
Azerbaijan
1550 Posts |
Posted - 26/08/2009 : 09:49:46
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quote:
Originally posted by boze
Its totally different, its like borrowing £500 off a mate and agreeing that you wont have to pay any more than £500 back, then after youve got the money he says "actually you now need to give me £1 a day PLUS the £500 back"
This is wrong, an extra £30 a month might not be much to some people but its a hell of a lot to me and a hell of a lot to pretty much every student in the UK. I live hand to mouth just now and £30 extra a month would force me out of college and into work
D
Are you eligible for a student account yet, i.e. starting a degree or HND? If you get into the Higher Education catagory rather than Further Education then you will be able to apply for one. No interest is charged on your overdraft and once you graduate you get transferred to a graduate account which has significantly reduced fees. Worth looking into . |
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Paulusworm
Fully Grown Royal
Azerbaijan
1550 Posts |
Posted - 26/08/2009 : 09:56:21
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quote:
Originally posted by chris100575
I object to this on moral grounds, it's the banks that dropped the ball by lending money to people who couldn't afford to pay it back and then treating those unpaid debts as assets. Why should we pay to bail them out?
I completely agree with you on this point. Also did you all notice that the bankers are all still getting paid their bonuses. If we took a job and messed it up royally like they did then would we get a bonus? I don't think so somehow, but I suppose we have to bear in mind that the poor old bank execs wouldn't be able to afford the upkeep of their holiday home or the dealer service on their second Aston   (insert appropriate stream of expletives yelled at top of voice). |
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Blackecho
Royal Python Admin
United Kingdom
11327 Posts |
Posted - 26/08/2009 : 13:09:06
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| How much are you saving a month on Mortgage payments though, I know I am saving over £100 per month. |
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boze
Yearling
United Kingdom
408 Posts |
Posted - 26/08/2009 : 14:11:13
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quote:
Originally posted by Paulusworm
Are you eligible for a student account yet, i.e. starting a degree or HND? If you get into the Higher Education catagory rather than Further Education then you will be able to apply for one. No interest is charged on your overdraft and once you graduate you get transferred to a graduate account which has significantly reduced fees. Worth looking into .
Thanks  Ill look into that but the whole student bursary/loans and accounts thing is totally different in Scotland than it is anywhere else lol
D |
0.1.0. Royal (Salmissra)
0.0.1. Western Hognose (Spiderman)
quote:
Originally posted by ruxpin64
I'm so happy I may lay on my back and pee in the air like a baby!
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