Bank Charges......?

Question

My bank who I will not name, charge me £39 for going 1p overdrawn on a direct debit, they pay out.
Why do they pay the D/D in the first placeif the funds aren't in, because if i have £9.99p in my account, they wont allow me to take £10 out, yet they can make me go overdrawn and then charge me....thats not right

Answer 1

I am fed up of been charged. My insurance is meant to come out on the 7th of each month, yet they take it out sometimes a week late...

Answer 2

Unfortunately, ISF feed (insufficient funds fees) are very common in the banking industry.

If this is the first time it's happened (or it's been a long time since it last happened), go to your bank and tell them that the overdraft was the result of a mix-up. Point out that your account is usually in very good standing, and flat-out ask them to waive the fee this time.

I do this EVERY TIME I get an ISF fee, and my bank refund sthe charge EVERY time.

It takes a little nerve to go ask them to do it, but, hey, it's worth $39 to you! It's definitely worth a shot. I recommend asking ANY company (credit card, cable, etc) to waive fees whenever they occur. I'd say 80% of the time, they're willing to do it to keep you, the customer, happy.

Answer 3

i had the same prob, i chased it up and they arent allowed to do that, follow it up and please let me know ur results, Im currently doing a lot of research about banking practices
its amazing how often they say 'oh its a computer generated thingy but it shouldnt have happened'
yet it happens all the time
in my instance, i was charged $25 late payment for a credit card when i only owed $5. Turned out it was illegal banking practice, but if we dont know or complain we dont get told.
please keep me informed

Answer 4

in the US, we call it NSF for insufficient funds... And that is how the bank pays for tellers and the electric bill.

Answer 5

THAT IS STANDARD BANKING
THATS HOW THEY MAKE MONEY
BY HELPING US OVERDRAW
IM LOOKING 4 A NEW BANK MYSELF