my bank has charged me 30 pounds for being overdrawn 1 day.Can they do this legally?

Question

My overdrawn amount was 150 pounds & I had several thousand pounds in a savings account with the same bank on the day I went overdrawn.I should also add,that i have been with this bank 17 years.

Answer 1

Legally, yes they can. But maybe you could go in and talk to the bank supervisor and explain to him/her that you've been a loyal customer for 17 years and this was a one time mistake. They may take away the charge. If they refuse to, tell them you're going to withdrawal all your money and go to a different bank.

Answer 2

I get charged $30 by my bank every single time I bounce a check... Even if I have money in my savings. The only way around that one is "automatic overdraft protection" - it's a special feature my bank has to where, if I bounce a check, they automatically pull whatever out of my savings, to cover the check.

It's legal, at least it is here.

If you're questioning the legality of it, check your membership policy. I'm sure it will be mentioned in there somewhere.

How long you are with a bank usually doesn't have much to do with your overdraft charges... If you make a mistake and go over your balance, they're going to charge a "processing fee". And unless they have permission from you, they cannot take money from another account to cover the overdraft.

Answer 3

I had a big problem with extra charges years ago that was so frustrating and costly that I stopped using checking and savings. They play a mean little game, saying that if you simply take care of your account properly you don't get charged...and then nailing you with these fees everytime that you make a mistake. I do not care for the way that banks do business and do my best to avoid using them by doing business in cash most of the time.

Answer 4

Yes, they can...

I know it sucks but bank charges are really expensive, and even if you are only slightly overdrawn they will still charge you 20-30 pounds. I guess it is somewhere in the small print, when you first get your account.

Answer 5

Thats nothing I have an overdraft but due to bank holiday period all my dd's went out when I was not expecting them so although my bank kindly paid my dd's for me out of my account which my wages went in the next day, i was charged £20 for unothorised overdraft and £30 for every dd that they paid, the cheek of it was that it all happend in January and I am only getting charged for them now so I was over £100 in bank charges this month, sooooooooooo peeved with my bank.

Answer 6

Iam with the Uk bank Abbey and when ever i get overdrawn i go inside and i talk with them they are resonable and take the charge from my account. Dont worry they are not that bad and i find it unlikely they wont refund the charge

Answer 7

thats 20% charge try ask the bank, otherwise any overdrawn amount attracts a charge that legal cause u are borrowing

Answer 8

Speak to your citizen's advice bureau. Its been recently coming to light that with some banks, they cannot justify these charges. If they cannot justify them or prove that £30 = administration, stationary, etc for processing your overdraft, then it is not legal.

Answer 9

Legally it will be possible.It may included in the conditions for opening/operating of the account.But if you personally take up and convince that you are valuable client,they may refund in 99 percent cases

Answer 10

well i dont know how much 30 pounds is..but here you get charged anywhere from like 25-35 dollars for each overdraw and ive even had my account frozen and money held hostage for too many overdraws.