Banking advice
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Category: General Forums
Forum Name: General Off Topic Forum
Forum Discription: Discuss off topic issues related to BMWs.
URL: http://www.bavarian-board.co.uk/forum_posts.asp?TID=26303
Printed Date: 16-May-2024 at 04:16
Topic: Banking advice
Posted By: Peter Fenwick
Subject: Banking advice
Date Posted: 21-January-2006 at 05:55
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My wife has just had a letter from the Yorkshire bank informing her that she is over drawn. She went into the bank last week to close her account however she ended up leaving it open just in case the change of bank details wrt her wages didn't go through properly. Anyhow she had a standing order set up for a large sum of money to go to my bank account on the 19th. She assumed that since the account no longer had enough funds in the standing order would no longer be applied. She was wrong and now she is being charged £8 a day. My question is do the bank have the right to charge her when they knowingly made her go overdrawn? As a standing order is a request from you to take funds from your account, surely if you have insufficient funds the money should not be transfered. ------------- Entering an age of Austerity and now driving a Focus Diesel. |
Replies:
Posted By: livvy
Date Posted: 21-January-2006 at 05:59
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Did she have a pre approved overdraft facility ? ------------- My views expressed are just that. Mine & mine alone. |
Posted By: kbannon
Date Posted: 21-January-2006 at 06:16
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the charges she will incur will be written (presumably) in her contaract and the banks charter. Unfortunatley I reckon she will have to pay as she allowed her a/c to become overdrawn without the banks agreement. ------------- Current: 2009 E60 520d "Sport" tractor Previous: 1989 E30 320i SE 1997 E39 523i 2003 E39 525i Sport Individual |
Posted By: Rhys
Date Posted: 21-January-2006 at 07:21
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I'd go down and have it out with the bank manager - in a nice way of course. Only trouble is if you've practicaly closed your account they might be not so forthcoming.
It's worth a go - a lot of times they just try it on and blame the letters on 'automatic process'. ------------- V reg Rustbucket Merc C220 Cdi estate J Reg Saab 900i 16v '63 Ford Anglia 105e deluxe R reg Honda PC50 moped.. No BMW as yet... |
Posted By: Peter Fenwick
Date Posted: 21-January-2006 at 09:55
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No. The thing that gets me is that you couldn't go into your branch and ask to transfer £500 into a different account if you don't have the funds in your account. How is a standing order any different? It is just an automatic repeating money transfer. Surely it should flag up that she didn't have the money in the account to transfer! The other anoying thing is the lady in the branch where she withdrew most of her money was the one who persuaded her to keep the account open. She was going to close it but the bank clerk suggested that she could keep it open with a few pence just until she was sure her account details had been chaged with work. The clerk had my wifes account details up on the screen so must have know this problem would arise. ------------- Entering an age of Austerity and now driving a Focus Diesel. |
livvy wrote:Posted By: nero
Date Posted: 21-January-2006 at 10:10
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As she was going to be closing the account, why didn't she stop the Standing Orders/Direct Debits at the time? -------------  |
Posted By: Fey!
Date Posted: 21-January-2006 at 14:42
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£8 a day sounds like an obscenely large amount to be charged. ------------- "http://www.tempoantiques.com""> 
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Posted By: Peter Fenwick
Date Posted: 21-January-2006 at 18:00
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Because she didn't think she would have to stop them if she was closing the account. She didn't have any direct debits, just the one standing order. ------------- Entering an age of Austerity and now driving a Focus Diesel. |
Posted By: Peter Fenwick
Date Posted: 21-January-2006 at 18:00
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It is. Especially as it's £21 for the first day. ------------- Entering an age of Austerity and now driving a Focus Diesel. |