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08 Oct 09
13:15
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Date Joined:
04 Apr 03
You'll be getting a letter through the mail from Halifax.
They are changing how they charge OVERDRAFTS.
STARTING 6-December:
They are charging £1/day for arranged overdrafts up to £2,500
Over £2,500 is £2/day
Unarranged will be £5/day.
I have a £200 buffer on one of my accounts.
I was in overdraft 7 days last month. They paid me interest. Now, under the new charges, it will cost me £7.
Our other account/joint was in overdraft 16 days. The most was £134. 5 of those days was under £2. They paid us interest. Now they will charge us £16.
It can be subtle but will add up for anyone carrying an overdraft.
My understanding is they have something called the Ultimate Reward Current Account which pays no interest but gives you a buffer of £300 off charges a year. Hmmmm.....
Also note: When you get the Halifax letter, in the bottom corner on the back page is a triangle. Mine was green meaning I won't be heavily impacted. I beg to differ. If yours is yellow or red, I look into the math.
They are changing how they charge OVERDRAFTS.
STARTING 6-December:
They are charging £1/day for arranged overdrafts up to £2,500
Over £2,500 is £2/day
Unarranged will be £5/day.
I have a £200 buffer on one of my accounts.
I was in overdraft 7 days last month. They paid me interest. Now, under the new charges, it will cost me £7.
Our other account/joint was in overdraft 16 days. The most was £134. 5 of those days was under £2. They paid us interest. Now they will charge us £16.
It can be subtle but will add up for anyone carrying an overdraft.
My understanding is they have something called the Ultimate Reward Current Account which pays no interest but gives you a buffer of £300 off charges a year. Hmmmm.....
Also note: When you get the Halifax letter, in the bottom corner on the back page is a triangle. Mine was green meaning I won't be heavily impacted. I beg to differ. If yours is yellow or red, I look into the math.
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£1 a day regardless of figure ?
i pay more than that now on my overdraft
i pay more than that now on my overdraft
My brother worked for a company called Hyperion in San Francisco. They built data mining / programs for banks.
Constantly would be given data that would then be run through simulations, various charges, etc, so that it would "seem to" benefit people in a positive way but over a long term period would not and would gain charges from people that didn't pay in alot during the year.
In the case of the Halifax, an overdraft of around £1,000 should cost you around £15 a month if you don't touch it.
Now it will cost you £30.
If you pay back half towards the front of the month, the balance of £500 should cost you £7
It will now cost you £30.
You see what is happening.
As I said, I carry a buffer of £200 on one of my cards. It should not cost me anything. Now a £1/day if I go over.
Coachbuster, you may be paying more than £30 now but as you get closer to paying it off, you will continue to pay £30 till you cross the line.
Constantly would be given data that would then be run through simulations, various charges, etc, so that it would "seem to" benefit people in a positive way but over a long term period would not and would gain charges from people that didn't pay in alot during the year.
In the case of the Halifax, an overdraft of around £1,000 should cost you around £15 a month if you don't touch it.
Now it will cost you £30.
If you pay back half towards the front of the month, the balance of £500 should cost you £7
It will now cost you £30.
You see what is happening.
As I said, I carry a buffer of £200 on one of my cards. It should not cost me anything. Now a £1/day if I go over.
Coachbuster, you may be paying more than £30 now but as you get closer to paying it off, you will continue to pay £30 till you cross the line.
one of the most disgusting companies i have ever had the misfortune to deal with. morally bankrupt and, until our cash came and bailed them out last yr, financially bankrupt, too.
a really 5hite company whos locks need supergluing.
a really 5hite company whos locks need supergluing.
Coachbuster, you may be paying more than £30 now but as you get closer to paying it off, you will continue to pay £30 till you cross the line.
____----
cheers for that info .
I will leave it as it is then 2,000 O/D and continue to pay the interest ,and then pay it back in one go .
theres always someone trying to fleece you .
____----
cheers for that info .
I will leave it as it is then 2,000 O/D and continue to pay the interest ,and then pay it back in one go .
theres always someone trying to fleece you .
Coachbuster, you might want to do the math on the ULTIMATE REWARD CURRENT ACCOUNT.
Get all the details. They throw in RAC and travel insurance, both I use during the year. Plus 300 days of "no charges" on overdrafts.
I really, really despise the banks these days. I have a good relationship with my business manager and that is what keeps me with RBOS.
But this "pound a day" is absolutely awful. Will hit the tightest the most.
Get all the details. They throw in RAC and travel insurance, both I use during the year. Plus 300 days of "no charges" on overdrafts.
I really, really despise the banks these days. I have a good relationship with my business manager and that is what keeps me with RBOS.
But this "pound a day" is absolutely awful. Will hit the tightest the most.
I havent been sent a letter. Probalby doesnt affect everyone then.
im on a tight budget, and this is gna be awful.. they could gives us a bit longer to try and clear the balance.. or at least let us freeze our account and turn the o/d into a loan paying back in monthly installments.. but then that way we would actually be paying it back rather than being in it.. so they wouldnt want that
Ultimate reward current acc costs £12 a month,mind you you get plenty benefits:-
Peace-of-mind insurance cover
How much would you pay to protect yourself and your family? Youd normally have to pay separately for each of the following types of insurance. But we cover them all in one convenient package that is the Ultimate Reward Current Account.
Worldwide multi-trip travel insurance for two adults and all your children.
RAC car breakdown cover roadside assistance when you need it most.
Mobile phone insurance for home and abroad if your mobile phone is lost, stolen or damaged.
Card Care card protection for all your registered debit, credit, store and charge cards if they are lost or stolen at home or abroad.
Home emergency cover from burst pipes to broken windows, get the help and repairs you need.
£100,000 worth of travel accident cover protection if you have an accident while travelling on public transport abroad.
Identity theft assistance with identity fraud a growing problem in the UK, we'll provide help and support on our free advice line open 24 hours a day, 365 days a year.
Purchase protection covering the items you buy with your Ultimate Reward Visa debit card if theyre lost, stolen or accidentally damaged.
Price promise if you buy an item with your Ultimate Reward Visa debit card and then see it cheaper elsewhere, you can claim back the difference from us.
Peace-of-mind insurance cover
How much would you pay to protect yourself and your family? Youd normally have to pay separately for each of the following types of insurance. But we cover them all in one convenient package that is the Ultimate Reward Current Account.
Worldwide multi-trip travel insurance for two adults and all your children.
RAC car breakdown cover roadside assistance when you need it most.
Mobile phone insurance for home and abroad if your mobile phone is lost, stolen or damaged.
Card Care card protection for all your registered debit, credit, store and charge cards if they are lost or stolen at home or abroad.
Home emergency cover from burst pipes to broken windows, get the help and repairs you need.
£100,000 worth of travel accident cover protection if you have an accident while travelling on public transport abroad.
Identity theft assistance with identity fraud a growing problem in the UK, we'll provide help and support on our free advice line open 24 hours a day, 365 days a year.
Purchase protection covering the items you buy with your Ultimate Reward Visa debit card if theyre lost, stolen or accidentally damaged.
Price promise if you buy an item with your Ultimate Reward Visa debit card and then see it cheaper elsewhere, you can claim back the difference from us.
cheers SS, funnily enough i logged into my halifax account to night because i thought i may have gone overdrawn and not so funnily enough i was just shy of £3k in the red :0 better get some funds transferred quick
actually i may get some funds transferred and shut the fvcker,
are the alliance & leicester doing similar??
are the alliance & leicester doing similar??
HarryCrumb 08 Oct 15:26
I havent been sent a letter. Probalby doesnt affect everyone then.
Harry, mine was post-marked 7 days ago. I'm in London.
I havent been sent a letter. Probalby doesnt affect everyone then.
Harry, mine was post-marked 7 days ago. I'm in London.
Cheers Shapeshifter ..i will check it out in time .
Those idiots at the Halifax (and other banks annoy me)
..If they had to make money using their brains instead of by robbery, they'd be living in caves.
Those idiots at the Halifax (and other banks annoy me)
..If they had to make money using their brains instead of by robbery, they'd be living in caves.
I'd leave the Halifax tomorrow ,but i have a mortgage with the kuntz .
Other banks wouldnt let me have a mortgage nowadays :_|
Other banks wouldnt let me have a mortgage nowadays :_|
i have a ultimate reward debitcard , went 10 quid over my overdraft last week , then did a transaction of 15 quid on internet , didnt know id gone over, yes my fault, i know,cos ive gone twice over the overdraft , i will get charges of around 12 0 quid. beware, i think they are clever instead of declining your transaction if youre over the overdrafrt, they let you go slightly over to hammer these charges
elisjohn, I'm from Canada.
When we hit our limit, the card was declined. Simple. Based on the fact that when I moved here, I was given a SOLO card for the first six months (the 40+ year old student :) ), I could not go over my zero limit. Thus, they have the technology.
Also, when we made deposits into ATM's, it would ask how much cash and how much in cheques. The cash would be made available immediately (thus I never stood in a bank line) while cheques, some would be released immediately depending on your rating with the bank. In my case, $1,500 would be made available right away, $500 to withdraw for the day.
Also, banks are delaying updates on your available funds.
When I used to jump into the local Sainsbury's, the transaction would show within minutes when I got home. Now, perhaps the next day.
On Monday, spent £44 at Rymans. My account showed that "44" available through Monday, Tuesday and Wednesday. Thursday morning, it was in my statement. This used to be calculated into my funds available immediately.
Same thing with First Capital. Taking an extra day or so.
Essentially, more chances that people will look at their accounts in the evening to calculate if there is enough there for an upcoming direct debit only to wake and find charges after forgetting about a purchase or a train ticket when calculating.
When we hit our limit, the card was declined. Simple. Based on the fact that when I moved here, I was given a SOLO card for the first six months (the 40+ year old student :) ), I could not go over my zero limit. Thus, they have the technology.
Also, when we made deposits into ATM's, it would ask how much cash and how much in cheques. The cash would be made available immediately (thus I never stood in a bank line) while cheques, some would be released immediately depending on your rating with the bank. In my case, $1,500 would be made available right away, $500 to withdraw for the day.
Also, banks are delaying updates on your available funds.
When I used to jump into the local Sainsbury's, the transaction would show within minutes when I got home. Now, perhaps the next day.
On Monday, spent £44 at Rymans. My account showed that "44" available through Monday, Tuesday and Wednesday. Thursday morning, it was in my statement. This used to be calculated into my funds available immediately.
Same thing with First Capital. Taking an extra day or so.
Essentially, more chances that people will look at their accounts in the evening to calculate if there is enough there for an upcoming direct debit only to wake and find charges after forgetting about a purchase or a train ticket when calculating.
Answer is simple.
Get a decent job, live within your means and dont borrow from banks.
Dont see why its so difficult?
Get a decent job, live within your means and dont borrow from banks.
Dont see why its so difficult?
Recieved my letter today from these Gangsters.
Basically tells me that i will be charged an extra £5 a month because it makes for a more straight forward and better understood system .
Where have i heard that before ?
Anyway , basically everyone with any sort of overdraft will be worse off , unless you bundle 1000 of your money into the account each month ...in which case you will gain a few pence.
Cheeky little fokkers
Basically tells me that i will be charged an extra £5 a month because it makes for a more straight forward and better understood system .
Where have i heard that before ?
Anyway , basically everyone with any sort of overdraft will be worse off , unless you bundle 1000 of your money into the account each month ...in which case you will gain a few pence.
Cheeky little fokkers
Bringing to the top.
If you are with the Halifax, look at your coming year.
Unless you upgrade, every day you dip into your overdraft costs you a pound.
Ultimate reward a bit of an illusion when you do the match.
First £300 is interest free. After that, a pound a day.
Terrible timing on their part.
If you are with the Halifax, look at your coming year.
Unless you upgrade, every day you dip into your overdraft costs you a pound.
Ultimate reward a bit of an illusion when you do the match.
First £300 is interest free. After that, a pound a day.
Terrible timing on their part.
Shapes , basically if you have an overdraft ...make sure its one that is running at -2.5 k
They wont let me go over 2k though ,crafty little snidey feckers :)
They wont let me go over 2k though ,crafty little snidey feckers :)
coachbuster....we have an overdraft that runs between zero to 1100 depending on the month and movement. Most of the time floats around 400 max in the month.
The idea was because funds come from business here and abroad, I got tired of international transfers, holidays, etc, causing juggles.
We have a good chunk in savings that has been built up. We will cut into it or possibly move 2 of our accounts elsewhere for now.
I calculated the number of days we use and the interest rate. If we run for the year the same as the last, I will pay £160. I worked it out to around 3.5 times the present interest paid.
That is criminal. They will profit from anyone that has a bad week or month or worse.
The idea was because funds come from business here and abroad, I got tired of international transfers, holidays, etc, causing juggles.
We have a good chunk in savings that has been built up. We will cut into it or possibly move 2 of our accounts elsewhere for now.
I calculated the number of days we use and the interest rate. If we run for the year the same as the last, I will pay £160. I worked it out to around 3.5 times the present interest paid.
That is criminal. They will profit from anyone that has a bad week or month or worse.
And, yes, I thought of the 2K idea ;)
If you can't go up, go down!
If you can't go up, go down!
I have been paying mine off my halifax account "automatically" since June, now my overdraft is at £720
another 4 months of £180 automatic payments and am free of overdraft!
another 4 months of £180 automatic payments and am free of overdraft!
2 yrs ago, on the saturday between christmas and new yr, i was in the branch, closing my accounts, because, lets cut to the chase - halifax are the discharge of the banking world. they are thrush - worthless, irritating parasites.
there was a bloke in there, with his bird and they were obviously out for a days shopping. he had checked his account to find that, because of the clearing cycle over crimbo being longer, they had bounced 4 of his dd's, at 39 quid a time and charged 29 quid for an unauthorised overdraft. lets work that out, shall we? 39 x 4 = 156, plus 29 = 185 in total.
185 quid and all because the longer clearing cycle over the holidays (at a guess, his works paid him by cq). the average wage is around 19k pa, or just under 400 pw before tax. so the poor sod, if he was on the average wage, would have to work over 3 days, just to cover his bank charges.
NOTHING these **pigs do surprises me. they are awful - the absolute worst. sack them if u can.
there was a bloke in there, with his bird and they were obviously out for a days shopping. he had checked his account to find that, because of the clearing cycle over crimbo being longer, they had bounced 4 of his dd's, at 39 quid a time and charged 29 quid for an unauthorised overdraft. lets work that out, shall we? 39 x 4 = 156, plus 29 = 185 in total.
185 quid and all because the longer clearing cycle over the holidays (at a guess, his works paid him by cq). the average wage is around 19k pa, or just under 400 pw before tax. so the poor sod, if he was on the average wage, would have to work over 3 days, just to cover his bank charges.
NOTHING these **pigs do surprises me. they are awful - the absolute worst. sack them if u can.
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