leosmom Posted April 14, 2010 Author Share Posted April 14, 2010 some great advice thank you... I like how im being told off for being like millions of other people who have an overdraft! im an adult and like most adults who work hard and have there own home and a family i have bills coming out of my ears and some times having an overdraft helps...i dont use it willy nilly. It is there so i can use it if i need too. i understand overdrafts what i can not understand is why any bank would give you an unarranged overdraft just so you can pay £5 per day for the pleasure!! Link to comment Share on other sites More sharing options...
Ms Macbeth Posted April 14, 2010 Share Posted April 14, 2010 some great advice thank you... I like how im being told off for being like millions of other people who have an overdraft! im an adult and like most adults who work hard and have there own home and a family i have bills coming out of my ears and some times having an overdraft helps...i dont use it willy nilly. It is there so i can use it if i need too. i understand overdrafts what i can not understand is why any bank would give you an unarranged overdraft just so you can pay £5 per day for the pleasure!! They don't really 'give' you an overdraft thats not been arranged. If you go over your arranged o/d limit, then thats really up to you. As a previous poster has said, sometimes that results in much higher individual charges than £5 a day. I agree that there are times when we need to use an overdraft, when our children lived at home I often had to juggle our finances. Sometimes the money wouldn't stretch, and the bank added charges. I accepted the consequences because the information was there (albeit in very small print) when I opened the account. Occasionally I'd agree with my mortgage lender to miss a month and spread the cost over the year - then use the money to clear my overdraft. Just one possible way of avoiding extra charges. I think the Halifax is relying on people leaving their current accounts with them. I certainly wouldn't. Link to comment Share on other sites More sharing options...
BananaSplit Posted April 14, 2010 Share Posted April 14, 2010 The banks don't 'give' you an unarranged overdraft as such. You go overdrawn without their previous consent - that's then an unarranged overdraft. Going back to what HeadingNorth said, I've recently fell foul of being charged for a bounced Direct Debit - three times! I wanted my insurance to come out of a different bank account. The insurance company tried to take the debit out of my old account which had no money in it and Yorkshire Bank charged me £35 a time. It's my own fault because they did write to me but I'd let my post build up and didn't know anything about it til I was sorting through a mountain of post some weeks later. I just imagined I'd spent £105 on a fab new pair of boots or something to lessen the sting! Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.