Bank "overdraft"

Posted by taxhound PM | on Mon, 13/08/2012 - 18:32 1217 28 comments | report

OK, this is what happened:

1. I paid in several cheques to my account - say total £2,000 on 1/7/12. They were not due to clear until 5/7/12.

2. One cheque for £900 bounced on 4/7/12 and the bank immediately took the money from my account.

Now they are charging me interest for one day as this apparently made me overdrawn.

They claim that this is correct. It sounds fraudulent to me. As a "gesture of goodwill", they have agreed not to charge the interest "on this occasion"

Can this possibly be correct?

Comments

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Overdraft

johndon68 | Mon, 13/08/2012 - 18:45

Probably correct

ShirleyM | Mon, 13/08/2012 - 18:46

I have no overdraft limit

taxhound | Mon, 13/08/2012 - 19:07

Overdraft

johndon68 | Mon, 13/08/2012 - 19:15

@john

taxhound | Mon, 13/08/2012 - 19:18

Balance

johndon68 | Mon, 13/08/2012 - 19:20

Need more information

petersaxton | Mon, 13/08/2012 - 19:27

Take this example

taxhound | Tue, 14/08/2012 - 09:18

I see your problem now!

ShirleyM | Mon, 13/08/2012 - 19:36

Strange

petersaxton | Mon, 13/08/2012 - 19:35

Balance £1 but ...

petersaxton | Mon, 13/08/2012 - 19:38

No I did not pay in a cheque for £1

taxhound | Mon, 13/08/2012 - 19:41

Hypothetically

petersaxton | Mon, 13/08/2012 - 19:50

forget everything else

taxhound | Mon, 13/08/2012 - 20:06

It is a rip off

ShirleyM | Mon, 13/08/2012 - 20:12

Banks mess up all the time

petersaxton | Mon, 13/08/2012 - 20:12

Bank complaints system

petersaxton | Mon, 13/08/2012 - 20:18

Sounds dodgy to me!

sparkler | Mon, 13/08/2012 - 20:21

Double standards

petersaxton | Mon, 13/08/2012 - 20:25

it's a joke

sparkey999 | Mon, 13/08/2012 - 21:30

I agree

vince8 | Tue, 14/08/2012 - 08:29

For those of you who were wondering...

taxhound | Tue, 14/08/2012 - 09:13

Wait

Constantly Confused | Tue, 14/08/2012 - 09:16

@ Constantly Confused

taxhound | Tue, 14/08/2012 - 09:17

You have forgotten what £900 for one day does to the Spanish...

Democratus | Tue, 14/08/2012 - 12:30

Simple moral

Healthpay | Tue, 14/08/2012 - 12:24

They shouldn't

chetan | Tue, 14/08/2012 - 14:39

They shouldn't - but they do

joewwwiv | Tue, 14/08/2012 - 15:51