I have a solo card (obviously with no overdraft due to the IVA).
I have never before been able to go overdrawn as it will only ever let me take out what is in my account, which suits me down to the ground.
That is until a couple of weeks ago. I assumed (rather foolishly) that my expenses had been paid into my bank account when they had in fact been delayed. So I took some money out and thought nothing of it.
It was only when I logged onto my online banking a couple of days later that my I realised I had infact gone overdrawn.
I am now being charged a nice fat £50 for the priveledge. Considering I should not be able to go overdrawn with my solo card, I am extremley annoyed and also concerned about any potential consequences this may have on my IVA. Also thats a months contingency out of the window.
Has this happened to anyone else recently and if so how did you deal with it?
Is there anything I can do to talk the bank out of the charges?
Good idea, but has anyone seen a member of staff let alone a manager in an HSBC branch in the last couple of years? They seem to have been replaced by machines LOL!
Think will have to call again. I called yesterday initially to ask that they delay taking the money for 3 days as its due to come out 3 days before I get paid. I was told that this is not possible. When I asked why they mumbled something along the lines of they cant do it (computer says no).
Hi
It will have no impact on your IVA as it was a genuine mistake.
Certainly worth trying to get the money refunded.
How can they justify £50 ?
Regards
Thanks Andy. Good about not effecting IVA, just very frustrating as only £80 overdrawn seems like a huge charge.
Add that to the fact that I'm not supposed to be able to go overdrawn with a Solo card.
Also the fact that they wont be flexible on the date to pay it. I will ensure the money is there, but if I couldnt I would in effect go overdrawn again and then they would charge me again, starting a downhill spiral of debt.
I have a vague memory that this was how it started all those years ago with a switch card. It was the first debt I ever incurred and I remember being terrified about it.
Natwest,if that is your bank, have updated their terms and conditions on all their accounts and its worthwhile to read them as they are sent to you.I have a Natwest Step account serviced by the Solo card.
I don't agree on the charges but the Banks are saying they are not penalties but a charge for the service - whatever the spin, £50 is way to much.I suggest your acccount have been in the red for maybe a week?
There are no arranged O/D facilities in the Step account but the bank can discretionarily accept a the transaction for you and taking you over in O/D territories. With natwest I ought to think the transaction would have been declined? With other banks the policy may vary.
Last edited by newdeal on Thu Apr 09, 2009 3:04 pm, edited 1 time in total.
Hi
This is why accounts such as Think Banking are quite good, yes there is a fee of £12.50 each month but then this is all that you will ever pay.
Bank charges do not take into account your ability to pay and it could well be that £50 is all that a person has to live on for the rest of the week.
There should be a £12 limit, as per credit cards, if you are late paying or go over your limit.
Regards
Bank charges are a disgrace. I set up a standing order for my rent and it wasnt until i realised the day the rent was due that i had set it up on the wrong account. Obviously the payment was returned and was immediatly charged 25 pound, which sent me overdrawn.....for the privalage of them sening me overdrawn i got charged 5 pound a day...total 70 pound.
All in all 95 pound for an obvious mistake. I immediatly cancelled the standing order and made a payment for the rent out of the account it should have gone out. They could see i made a mistake.
They refused to refund the charges stating they were fair and would not proceed with my request as there was a court case going on about charges??.
Co-op are a recommended bank on here and you get a maestro card with that.
You are right that HSBC are not IVA friendly - they have a nasty habit of closing accounts down.
There are several pre paid cards which offer you standing orders/direct debits and you can have your wages paid in to them.
Payplan do one and it cost £6 per month.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
They were - we used to bank with them then and nothing was too much trouble and you could actually ring your branch direct and speak to someone actually in the branch!
They are just to big now, and only interested in making money.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hiya, I had a similar problem a while back with Smile, but they wanted to charge me around £120 for some small transactions my hubby made by mistake, thinking we had the cash in the account. I think each transaction was made online for about £5-£10 each! I spent 2 days on the phone complaining and finally got most of it (not all) refunded. I think persisitence is the key! Just harrass them and refuse to take no for an answer!
Jo x
