leosmom Posted April 13, 2010 Share Posted April 13, 2010 I my sound i little thick but what is a unarranged overdraft. Why would your bank let you spend money that has not been arranged with them first and then charge you five pounds per day for going in to it?? How does it work? Can i just go and take out what ever i feel like spending that day lol ? or is it just there to cover you if an unexpected bill comes out? Link to comment Share on other sites More sharing options...
ricgem2002 Posted April 13, 2010 Share Posted April 13, 2010 so they can make a lot of money from you Link to comment Share on other sites More sharing options...
rubydazzler Posted April 13, 2010 Share Posted April 13, 2010 It's not the Barclays Personal Reserve scam, is it? Because if it is, don't forget there's an 'administration' charge at the end of the month as well. The robbing dogs! Link to comment Share on other sites More sharing options...
leosmom Posted April 13, 2010 Author Share Posted April 13, 2010 It's not the Barclays Personal Reserve scam, is it? Because if it is, don't forget there's an 'administration' charge at the end of the month as well. The robbing dogs! no its halifax... i just dont want to go in to it as it charges £5 a day...just wanted to know that if a go and take cash from the cash machine that i cant go in to a unarranged overdraft.im aways on top of things when it comes to my bankin but i just cant get my head around this one! Link to comment Share on other sites More sharing options...
Truthinus Posted April 13, 2010 Share Posted April 13, 2010 I my sound i little thick but what is a unarranged overdraft. Why would your bank let you spend money that has not been arranged with them first and then charge you five pounds per day for going in to it?? How does it work? Can i just go and take out what ever i feel like spending that day lol ? or is it just there to cover you if an unexpected bill comes out?There's a law that says that if you have been given overdraft that has not been properly arranged or agreed by you, because it was not by legal agreement you can then get anything you owe them on that overdraft back. Link to comment Share on other sites More sharing options...
leosmom Posted April 13, 2010 Author Share Posted April 13, 2010 There's a law that says that if you have an overdraft that has not been properly arranged or agreed by you, because it was not by legal agreement you can then get anything you owe them on that overdraft back. mmm that sound interesting but the bank will have that many loop holes! Link to comment Share on other sites More sharing options...
rubydazzler Posted April 13, 2010 Share Posted April 13, 2010 no its halifax... i just dont want to go in to it as it charges £5 a day...just wanted to know that if a go and take cash from the cash machine that i cant go in to a unarranged overdraft.im aways on top of things when it comes to my bankin but i just cant get my head around this one!Have you got an 'arranged' overdraft already? If you haven't, get one sorted, just in case of emergency. The amount they charge you on an arranged overdraft is quite low. Unarranged and they beat you to death with the charges. Link to comment Share on other sites More sharing options...
rubydazzler Posted April 13, 2010 Share Posted April 13, 2010 mmm that sound interesting but the bank will have that many loop holes!I think that they would say that it was 'agreed' by you because they're always sending you those little leaflets with variations to the account. If you don't tell them at the time that you don't agree to it, you're deemed to have agreed by default. This is how I fell foul of the Personal Reserve malarkey! Link to comment Share on other sites More sharing options...
Truthinus Posted April 13, 2010 Share Posted April 13, 2010 mmm that sound interesting but the bank will have that many loop holes!Its worth looking into if you have an overdraft which you didn't sign up to having and you 'owe' them some money on it. If that is the case for anyone, ask about it at the CAB. Link to comment Share on other sites More sharing options...
leosmom Posted April 13, 2010 Author Share Posted April 13, 2010 Have you got an 'arranged' overdraft already? If you haven't, get one sorted, just in case of emergency. The amount they charge you on an arranged overdraft is quite low. Unarranged and they beat you to death with the charges. Oh yes sorry i do have an overdraft but what with payin off xmas and paying for hols and every thing eles that comes along... just wanted to know how easy it was to go into so i can avoid it. Link to comment Share on other sites More sharing options...
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