syphercfc Posted February 1, 2011 Share Posted February 1, 2011 Hi, i am currently a halifax current account holder and was checking up on their overdrafts, but what exactly is an unarranged overdraft, is there any proccesses you have to go through for it? or do they instantly proccess any payment that exceeds your current arranged overdraft limit, and if so is that only for the £2500 max or can you get a higher amount? thank you Link to comment Share on other sites More sharing options...
Flowersfade Posted February 1, 2011 Share Posted February 1, 2011 Unarranged overdrafts usually have hefty fees.Arranged is around £1 per day with them. Link to comment Share on other sites More sharing options...
TheBlueDragon Posted February 1, 2011 Share Posted February 1, 2011 I have a £1200 overdraft with Halifax and if I go over that they take £5 per day I'm over the overdraft. This goes out at the end of each month Link to comment Share on other sites More sharing options...
syphercfc Posted February 2, 2011 Author Share Posted February 2, 2011 yea thanks for replies but i know their is hefty fees, i only have a £100 arranged overdraft atm, but im asking if i had a debit come out of something like £1500 or so would they just put it into a unarranged overdraft or would their be procedures to go through for that to happen? Link to comment Share on other sites More sharing options...
Ghozer Posted February 2, 2011 Share Posted February 2, 2011 Unarranged overdrafts usually only happen to cover bills (direct debits and standing orders or direct bank transfers (BACS etc)) Withdrawing from a machine or making a purchase won't (shouldn't) allow you to go into an unarranged overdraft... Link to comment Share on other sites More sharing options...
medusa Posted February 2, 2011 Share Posted February 2, 2011 They are under no obligation to go into unauthorised overdraft, even if you have an overdraft organised with them and it just entails going over it. Friends and family have had even quite small (less than £50) payments bounced rather than going into an unauthorised overdraft. If you haven't been credit checked to have an overdraft at all then they won't allow you to go into the red by a penny. The only exception to this if there's a direct debit which is due to come out of your account and you clear that debit by the end of the working day. If you don't then the payment is cancelled- I once got a £35 charge for going less than £1 overdrawn. Link to comment Share on other sites More sharing options...
HeadingNorth Posted February 2, 2011 Share Posted February 2, 2011 If the bank knows that a regular wage is going in tomorrow, and a debit is presented that would take you overdrawn today, they might accept the debit and charge you for a day's unauthorised overdraft; or they might not, and charge you for returning a debit instead. Either way it costs you a packet and is by far best avoided. Link to comment Share on other sites More sharing options...
Bulgarian Posted February 2, 2011 Share Posted February 2, 2011 Halifax will do whatever makes them the most money, not what actually helps you, they are a dreadfull "bank". Link to comment Share on other sites More sharing options...
HeadingNorth Posted February 2, 2011 Share Posted February 2, 2011 Halifax will do whatever makes them the most money, not what actually helps you, they are a dreadfull "bank". Since the purpose of a bank's existnce is to make money, that's a nonsensical conclusion. Link to comment Share on other sites More sharing options...
Bulgarian Posted February 2, 2011 Share Posted February 2, 2011 Since the purpose of a bank's existnce is to make money, that's a nonsensical conclusion. It wasn't a conclusion, it was a statement. Link to comment Share on other sites More sharing options...
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