A billions apols if this thread has been started previously but I searched and failed to find anything so here goes.

My husband logged onto his online bank (nameless) yesterday to find that he has been charged 3 x £60 (yes six-zero, s-i-x-t-y- pounds) for the privilege of suffering unpaid items. Now I know that these are heavily penalised and would have thought that £20-£25 would be more reasonable hut still rather heavy but come on, sixty quid! Do I have a case for the banking ombudsman or am I wasting my time? I cannot feed the kids this week. Am close to tears. I hate the way we are trapped by them and would rather live outside the monetary system all together. :rant:

Most banks charge between £25 and £35 per unpaid debit so £60 does seem excessive but then most banks will try twice for a direct debit, usually about a week later, so that could be why each direct debit came in on a £60 charge (2 x £30).

It could also be a charge for exceeding an unauthorised bank limit.

If you cannot afford the charges to be debited as a lump sum most High Street Banks (if approached) will discuss an arrangement to spread the cost of your charges so they don't 'impact' on your financial commitments elsewhere!

Sorry to hear about it though...nasty!!

My so-called bank is charging me 60 quid on Wednesday for overdraft charges they blatantly just let me run up :rant:
And I get paid Thursday so this will take me over again :(

They let you do what you like at University, laugh as you run up debts, up your credit card limit every other day when they realise they get more interest out of you, then after a few years you have got used to it and they screw you! Grrrrr :rant:

Because of a financial cock up about 8 years ago, I can't get an overdraft from my bank (they have long memories, don'cha know) and my contract currently pays me weekly, by CHAPS transfer.

So, I can have something hit my account in the morning which would take me 20 quid overdrawn, and have 600 quid or so going in later that day.

And yes, the miserable SOBs return the item and charge me for the privelege.

Recently I went to the bank and asked them if they felt bad about it. Amazingly enough, they did! But 'the system' wouldn't let them do anything else!

Most banks do charge between 25 and 30 quid per return item, and a daily fee for any transactions that they let go through when you're unofficially overdrawn.

When I finally acquire large amounts of F--- You money, I'll enjoy telling my bank exactly what they can do with their charges....er....probably carry on making them. :D

Joe

Personally I am not sure about why banks are able to charge at all unless persistantly overdrawn. Do they not make profits by investing or whatever? The interest earnt on account is small enough as it is - they take their cut.

Forgive me for being dumb concerning banking but I have yet to see a poor bank manager or whatever.

Dragon

There have been successful claims when the charges have been disproportionate to the item concerned.

A well worded letter to the bank can often get other charges reversed as well.

Originally posted by cgksheff
There have been successful claims when the charges have been disproportionate to the item concerned.

A well worded letter to the bank can often get other charges reversed as well.

I've managed to negotiate mine down a few times....it does vary incredibly though as to what can be achieved.

I personally think my bank should send me a Christmas Card every year for my personal contribution to their profits!

Joe

Originally posted by Dragon
Personally I am not sure about why banks are able to charge at all unless persistantly overdrawn. Do they not make profits by investing or whatever? The interest earnt on account is small enough as it is - they take their cut.

Forgive me for being dumb concerning banking but I have yet to see a poor bank manager or whatever.

Dragon

because you've borrowed money without asking and that's what it says in your contract with them.
They provide a service, not a charity.

On the other hand, they make an awful lot of money, I doubt that these charges contribute a lot to that, to them it's virtually nothing, but it makes life difficult for people, they could try being a bit more understanding.
Doesn't HSBC offer a £50 buffer zone where you will be charged interest, but not fee's, more than £50 and they assume that it's more than a slight miscalculation and that you should manage things a little bit better I guess.

Thanks everyone for all your advice and contributions. It
is doing my head in.

I am in two minds as to whether to apply for a job but it would mean putting my precious tinkies in day care and that would cost half of what i would be earning. We loved out of London so that I would not have to (enter into paid) work and could be with the children which is what they need so against my principles too.

I've got fingers in a few pies but nothing is working yet, it's been all outlay for a while but it's all stuff I can do from home when the tinks are in bed. Anyway, enough moaning.

THAAAAAAAAAANKS (she said yawning)
TTFN

Of course I meant 'moved' out of London. Loved doesn't even come into it!

As quite a few forumers know, I do work for a bank. The opinions below are my own, and not those of any financial institution.

Originally posted by lizzmobile
My husband logged onto his online bank (nameless) yesterday to find that he has been charged 3 x £60 (yes six-zero, s-i-x-t-y- pounds) for the privilege of suffering unpaid items. ... Do I have a case for the banking ombudsman or am I wasting my time?

£60 seems very high for an unpaid item. I would suggest your husband speaks to the bank about this to find out exactly what the charges relate to. Most banks charge in the region of £30 for unpaid items.

You won't have a case for the banking ombudsman for two reasons: 1) It's not your account, it belongs to your husband therefore it's him that needs to do somthing, and 2) the banking ombudsman doesn't exist any more. You could, once you've exhausted the bank's own internal complaints procedure, take your case to the Financial Services Ombudsman (www.fos.org.uk). I think you would be wasting your time in doing so.

TVM Andy, yeah obviously DH has to deal with it. Well we'll try the normal routes and see how far we get. Thanks very much for the link and the tip ;)

Originally posted by Dragon
Personally I am not sure about why banks are able to charge at all unless persistantly overdrawn. Do they not make profits by investing or whatever? The interest earnt on account is small enough as it is - they take their cut.


Yes, the banks do make money by investing, but the money you can make by investing the average £78 balance of a current account is not very much, and certainly not enough to cover the costs of running the account. Most current accounts are loss-leaders for the bank - they offer them in the hope the customers will also take out loans, buy insurance etc, which do make the bank money.

i have on occasion missed payments of things and had charges and i have every single one refunded. i have gone in to the bank and explaind my situation and usually they refund them straight away... on the occasions i been served by staff who are training and who think they know EVERYTHING and really dont have a clue, i have got very vocal with them and had the charges refunded..

if all else fails tell them you are going to another bank and going to transfer everthing to them and will tell everyone you know about the service you recieved :D :D :D

You're clever :P :P :P

.........................

Pablo, you star. Gonna try that one.

Originally posted by savbaby

if all else fails tell them you are going to another bank and going to transfer everthing to them and will tell everyone you know about the service you recieved :D :D :D

Wouldn't wash with me :D First charge refunded only!

to be fair to my bank (HSBC) the only times I've run up charges have been my fault. I've called them without checking to see why they have charged me in a non too good mood and they've got rid of them.

If you go over your o/d limit or miss payments then you deserve to be charged imo. It is a contract you sign up to.

Saying that I stopped talking to my previous bank manager after questioning his parentage.

Originally posted by robbie

Saying that I stopped talking to my previous bank manager after questioning his parentage.

There's no need to be abusive to the people who work there. Someone tried that with me once and he doesn't have a bank account any more :D

to be fair he deserved it. He promised to clear cheques which he then bounced the next day:rant:

Take a look at some successes here:

http://www.consumeractiongroup.co.uk/forum/litigation/