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Bank Charges..anyone else been ripped off

post #1 of 18
Thread Starter 
Im fuming, Has anyone else had this prob, my DH is with a well known high street UK bank,

He went over drawn by £2.76 2 weeks ago, he got a letter saying they will be taking charges of £40 out on the 28th august, he went into the bank and said he didnt get paid till the week after that date so wouldnt have the money to put into the bank, and if they took the money out they wil be leaving him overdrawn by more money!

They said nope charges had to come out on that date and if the money wasn't in the bank he would get another charge and be overdrawn still

So just checked online banking and yep he is overdrawn because of the charges and they wil be wacking another charge on because the money wasnt in,

does that make any sense?

Hes basically been charged £80 for going over drawn by £2.76, I have told him to leave money in next week to cover the next lot of charges, but rent is due out along with another quartaly bill so cant be sure the money will be in which could end up leaving us with another charge

Damn Im so angry at the bank how can they get away with doing this!

Rip off merchants

sorry rant over
post #2 of 18
yeah dealing with banks can really stink.

What's worse, at least here, is they TRY to overdraw you. Explain:

IF my account had 10.00 in it, and I had a check outstanding for 20.00 I'd be overdrawn. But what if I deposited 30.00 the same day the check came in to clear? I should be ok right? nope, they do debits before credits so they intentionally bounce the check, and add fees.

It shouldn't even be legal
post #3 of 18
Of course, this little gambit has been the subject of a number of comedians, not the least of whom was Gallagher.
post #4 of 18
Even worse, my bank accidentally took someone elses debit's from my account (a mix up between a 1 and a 7) and charged me $42.50 each time for going overdrawn. Then, although they fixed the mixup and put the money back in my account for the bills they had paid, it took me a month of fighting with them to give me back the money for the NSF fees with them stating 'you should have had enough in your account for the debits'. Oh and the time I stopped a payment when we changed cable companies and they still kept taking out my monthly payment, the bank let the stopped payment go through, charged me the NSF fee and then reversed the payment but not the NSF fee.

They do not however charge me NSF fees on their charges and I eventually did get all the NSF fees back from them and I now have my account set that they will pay it and charge me $5 for a 'NSF paid' item and they would charge me interest on however long I am overdrawn.
post #5 of 18
By rights, the bank should be charging less than £40...my bank added £30 each time I couldn't pay my overdraft due to no money being in there and after so long I put in a complaint, only to be told that it was legal...YEAH RIGHT IT IS!
They are in the wrong for putting that amount on top, the most they can do is at least £12, that is the LEGAL limit! You can get them into trouble...
post #6 of 18
We have an overdraft protection arrangement with our bank. I'm not 100% sure how it works, but they either loan us the money or pull it out of savings. We've never needed it, but I like having it.

When we were first married, the bank deposited our paycheck in the worng account. We bounced 10 checks due to their error. Fortunately we had a copy of the deposit slip (in the days before computers were common). They corrected their error, removed the overdrawn fee and paid the insufficent funds fee at each of the merchants - and wrote a letter to the merchants stating that it was an error at the bank, not our error. The last was huge because my father was a bank examiner and it was not good for his kids to be bouncing checks.
post #7 of 18
We too have overdraft protection on our personal bank account.
If we happen to overdraw I thinks its a $5 charge and they bank hits our credit card (also through same bank) for the amount of the overdraw.
Once in a while it occurs for using the debit card for a large transaction cost instead of the credit card.
post #8 of 18
What gets me is I mase an honest error in my bookkeeping. I wrote one big check and a lot of little ones that all came in the same day. They cashed the LARGER check first causing not only that one to be overdrawn but all the little ones too! If the had cashed the little ones first then I would have only been overdrawn by a few dollars!
post #9 of 18
Quote:
Originally Posted by fastnoc View Post
yeah dealing with banks can really stink.

What's worse, at least here, is they TRY to overdraw you. Explain:

IF my account had 10.00 in it, and I had a check outstanding for 20.00 I'd be overdrawn. But what if I deposited 30.00 the same day the check came in to clear? I should be ok right? nope, they do debits before credits so they intentionally bounce the check, and add fees.

It shouldn't even be legal
i've had something similar happen...
several checks arrive - there's not enough money in the account to cover them all. they withdraw money until it's all gone, then bounce the rent check [this obviously happened 10+ years ago, since i no longer am a renter].
if they'd done the rent check FIRST, it wouldn't have been bounced.
but they don't think/decide/whatever what would be the most beneficial arrangement to the customer...
post #10 of 18
Quote:
Originally Posted by Catkiki View Post
What gets me is I mase an honest error in my bookkeeping. I wrote one big check and a lot of little ones that all came in the same day. They cashed the LARGER check first causing not only that one to be overdrawn but all the little ones too! If the had cashed the little ones first then I would have only been overdrawn by a few dollars!
That is a very common practice. I remember reading or watching a news report on this very thing a year or two ago. It's happened to me before.
post #11 of 18
Quote:
Originally Posted by fastnoc View Post
yeah dealing with banks can really stink.

What's worse, at least here, is they TRY to overdraw you. Explain:

IF my account had 10.00 in it, and I had a check outstanding for 20.00 I'd be overdrawn. But what if I deposited 30.00 the same day the check came in to clear? I should be ok right? nope, they do debits before credits so they intentionally bounce the check, and add fees.

It shouldn't even be legal
My bank used to do this, which was very frustrating, especially on the business account. They must have gotten a huge number of complaints. About a year ago they actually changed their policy. Now they do the deposits first and I haven't had any problems since then.
post #12 of 18
My brother overdrafted 39 cents, 67 cents, and 87 cents ... and the bank charged him $141 in overdraft fees. Insane if you ask me!

I was peeved when we got a check for our wedding for $20, and it bounced ... so they took $5 from our account! We weren't the ones with the insufficient funds! How do we know how much people have in their acct when they write a check?

The one and only time we had insufficient funds was when I wrote a check for bowling on December 11th or so ... and for some reason it wasn't cashed until December 27 - right after I paid our CC bill and was $3 off from having the $144 in the account!! So we got charged a fee of $25 on top of the $144 when we deposited the few dollars to cover it. We still don't know if the bowling alley held onto the check for 3 weeks, or if the MIL held onto it before giving it to the bowling alley to cash....
post #13 of 18
My bank was like that...absolutely atrocious!

I switched to a smaller local bank and discovered that they were actually focused on CUSTOMER SERVICE. Whoa!

I had a couple of overdrafts and they let them slide when I asked them too because it's not a habitual issue. They will let checks be cashed even if it puts me over, that helped when once it was a rent check! Phew...nothing worse than getting charged by the bank and the check casher and the embarrasement.

They also reimburse me for ATM charges every month, and "reward" me for using my card at merchants. I got $9.70 this month for banking with THEM! WOOHOO!

I don't get charged for banking with them because I get my pay check direct deposited. Basically.....find a better bank...they are out there. Hopefully there is one in your area. I know location can be a probelm.
post #14 of 18
I had a bank account at a national banking chain and they would hit me with fees that caused me to have NSF so that they could charge me $35 for having NSF! I have never personally bounced a check. After speaking with the banking manager, I had him give me all of my money in a certified check which I took to my small local credit union and I've been there ever since I have overdraft protection, I get free checks and my account is completely free too! They even know my name when I go into the bank. The change is like night and day.
post #15 of 18
Thread Starter 
Well just looked at his bank and they have wacked on yet more charges as he hasnt been able to clear the Overdraft yet ! He doesn't get paid till this friday and we told them this Im sooo cross
post #16 of 18
Banks are greedy!!! It's really sickening!

My mom went to a local ATM that my dad has a savings account in, and she asked for $100. The machine never spit it out! She tried agian for $20 hoping the $100 would come out with it. Nope, just a $20. She called the bank explaining what happened and they didn't believe her! They said "how do we know you didn't just put it in you pocket?" I can't believe they had the guts to say that! There was a camera they could look at if they really didn't believe her! Then they told her that they would have to do some "research" and she would get her $100 in 7-10 DAYS!!!! What the heck!!! They told her it was because they don't even know if she had $100 to take out in the first place.

Long story short, my mom's bank called that bank and told them to get their together and get the money back to my mom.

This was just last month when we went to a theme park here in IA. It put a damper on our day because our debit cards only let you take out $200 a day. We had to really budget and couldn't do the fun extra things we were planning on Stupid greedy banks!
post #17 of 18
Banks are like Walmart, everyone hates them and they are just there to make money. But, they still patronize them.

Local banks are the way to go.
post #18 of 18
Thread Starter 
just checked his bank again, he has a total of £95 in bank charges for 2 bounced (non payed Direct debits) and for being over drawn by £2.76 and anyother bad smilie I can find!!!!!!
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