HBOS's new overdraft charges...

[Antifa Hibs]

£1 per day starting from now I believe.

I have an overdraft of £500 and am constantly in it, so will be paying the barstewards around £20-£25 per month, wereas before it was about 3 quid.

Is there any banks that have cheaper OD charges and that may take my account over..? Aswell as my £500 OD?

Been a customer of BoS for decades, can go and fk themselves now though!

[Tinyclothes]

I'm with Barclay's and have always been happy with them. The only problem is there's only one branch in edinburgh that I'm aware of. I can recommend them though, I'm always in my overdraft too and they charge next to nothing and never noise me up about it.

[Woody1985]

Pretty much all banks are cheaper now.

go to www.moneysupermarket.com (http://www.moneysupermarket.com)

[hibbie02]

I am with FIrst Direct. Online only banking with an agreed £500 OD facility. The OD is an agreed amount that I use part of every month and costs me diddley! If I go over the OD limit, I would probably have to offer up my first born, but so far havenae needed it. :greengrin

[Sergio sledge]

£1 per day starting from now I believe.

I have an overdraft of £500 and am constantly in it, so will be paying the barstewards around £20-£25 per month, wereas before it was about 3 quid.

Is there any banks that have cheaper OD charges and that may take my account over..? Aswell as my £500 OD?

Been a customer of BoS for decades, can go and fk themselves now though!

Same thing happened to me, got myself an ultimate reward account, which costs £12.50 a month, but gives free overdraft up to a certain amount, and also gives me and my whole family; mobile phone insurance, travel insurance, RAC breakdown assistance in whatever car I am travelling in, not just my own, and various other things. Might be worthwhile checking this out?

[Part/Time Supporter]

I'm with Barclay's and have always been happy with them. The only problem is there's only one branch in edinburgh that I'm aware of. I can recommend them though, I'm always in my overdraft too and they charge next to nothing and never noise me up about it.

two, pretty near each other though (St. Andrew Sq and the middle of George St)

[CropleyWasGod]

Hey, I have a great tip.

I discovered that, if I keep my account in credit all the time, I never get hit with overdraft charges.

How good is that?

:greengrin

[Woody1985]

Hey, I have a great tip.

I discovered that, if I keep my account in credit all the time, I never get hit with overdraft charges.

How good is that?

:greengrin

:faf:

[ancient hibee]

Hey, I have a great tip.

I discovered that, if I keep my account in credit all the time, I never get hit with overdraft charges.

How good is that?

:greengrin
It's people like you that stop bankers getting bonuses.

[SlickShoes]

Was annoyed with this when i heard, i just spent the last two months getting out of my £800 overdraft so that i dont go in it at all now and they cannot milk me for money!

[MyJo]

£1 per day starting from now I believe.

I have an overdraft of £500 and am constantly in it, so will be paying the barstewards around £20-£25 per month, wereas before it was about 3 quid.

Is there any banks that have cheaper OD charges and that may take my account over..? Aswell as my £500 OD?

Been a customer of BoS for decades, can go and fk themselves now though!

We were going to switch to Alliance & Leicester from BOS because of the overdraft charges but A&L dont guarantee to match your existing overdraft and if you do want an overdraft you have provide bank statements that show at least 15 days in a month that you were not using your overdraft.

However my wife has just started a job with HBOS and she gets staff rates on our account which means the ultimate reward account is £6 a month rather than £12 and the overdraft charge is 50p a day rather than a £1 so we're just sticking with it and trying to avoid going over £300 on the overdraft (which is when the daily charge kicks in)

so your choices are switch from the robbing barstewards or become a robbing barsteward yourself :greengrin

[Woody1985]

Was annoyed with this when i heard, i just spent the last two months getting out of my £800 overdraft so that i dont go in it at all now and they cannot milk me for money!

At least you won't need to look at depressing minuses when using online banking or looking at the cash machine!

Plus, if you can clear £800 off your OD in two months your probably didn't really need it!

[Phil D. Rolls]

Hey, I have a great tip.

I discovered that, if I keep my account in credit all the time, I never get hit with overdraft charges.

How good is that?

:greengrin

Sounds alright to me, a bit like these shops where you don't have to pay anything if you don't take anything away. It could really catch on.

In fact maybe it has. I decided not to get a train home from Dundee last night, and Scotrail very generously didn't charge me any money. It's time others got with this principle of not charging you if you don't take their services.

By the way, has anyone considered my scheme to make banks fairer places instead of the greed driven exploitive enterprises they are today? Rather than paying bonuses, we should employ people to stand over the *******s with machine guns.

It might just work.

[CropleyWasGod]

It's people like you that stop bankers getting bonuses.

I know. My self-esteem is battered through that realisation.

Here's another thought. Since we own 110% of RBS, when we pay overdraft charges, does that mean we are paying it to ourselves.. and that we're not really paying it at all?

Or am i being a Y*m?

[IWasThere2016]

Hey, I have a great tip.

I discovered that, if I keep my account in credit all the time, I never get hit with overdraft charges.

How good is that?

:greengrin

WOW! Who you with? :greengrin

[Green Mikey]

I know. My self-esteem is battered through that realisation.

Here's another thought. Since we own 110% of RBS, when we pay overdraft charges, does that mean we are paying it to ourselves.. and that we're not really paying it at all?

Or am i being a Y*m?

How can we own more than 100% of anything? After a comment like that I think you might be a Yam.

[CropleyWasGod]

How can we own more than 100% of anything? After a comment like that I think you might be a Yam.

It was an ironic parody on all those footballers who give 110%.:wink:

[SlickShoes]

At least you won't need to look at depressing minuses when using online banking or looking at the cash machine!

Plus, if you can clear £800 off your OD in two months your probably didn't really need it!

Yeah no more minuses! I didnt really need it but i got it when i needed it and you get used to using it and treating it like you actually have the money, so it was really tough to give it up!

[CropleyWasGod]

Yeah no more minuses! I didnt really need it but i got it when i needed it and you get used to using it and treating it like you actually have the money, so it was really tough to give it up!

A common tale, I'm sure.

Joking aside, the banks have encouraged this culture of "spending what we don't have", and now chickens are coming home to sh*t, both for them and the public.

For those of us of a certain age, the debt culture is complete anathema to the way we were brought up... Scottish thrift and all that... and, TBH, there is a certain smugness in saying "I told you so".

If these exorbitant charges can encourage people to pay off their debts more quickly, and then live within their means, so much the better. As someone said earlier, it will also cut the banks' profits and limit the bonuses.

[Woody1985]

Yeah no more minuses! I didnt really need it but i got it when i needed it and you get used to using it and treating it like you actually have the money, so it was really tough to give it up!

I had £1,100 at one point. I was being charged between £9-£11 pcm and I was quite happy to pay it. I started chipping away and got it down the £800 and was paying around £6-£7 pcm.

Got rid of it now though, I consolodated it with other borrowings, I know I'll pay more for it in the long run but I knew that I was never going to pay it off fully otherwise!

[Woody1985]

A common tale, I'm sure.

Joking aside, the banks have encouraged this culture of "spending what we don't have", and now chickens are coming home to sh*t, both for them and the public.

For those of us of a certain age, the debt culture is complete anathema to the way we were brought up... Scottish thrift and all that... and, TBH, there is a certain smugness in saying "I told you so".

If these exorbitant charges can encourage people to pay off their debts more quickly, and then live within their means, so much the better. As someone said earlier, it will also cut the banks' profits and limit the bonuses.



And cut the amount of tax paid by the bank and probably mean they have to put charges up in other areas or come up with new ways to get money out of you to maintain their SP to keep the shareholders happy.

One of the best reason that the bank charges incurred weren't refunded to every for the past 6 years. It amounted to billions, slowing down the recovery and meaning a longer time period for the TP to get our money back.

[lapsedhibee]

For those of us of a certain age, the debt culture is complete anathema to the way we were brought up... Scottish thrift and all that... and, TBH, there is a certain smugness in saying "I told you so".
Hallelujah to that ...


If these exorbitant charges can encourage people to pay off their debts more quickly, and then live within their means, so much the better. As someone said earlier, it will also cut the banks' profits and limit the bonuses.
... but is the bonus culcha actually related to profitability? :dunno: