Can my bank charge me £35 for an overdrawn transaction?

Answer 1

Yes they can but this website is starting a campaign against unfair bank changes and is well worth checking out.

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1141050760,24632,

I have appealed bank charges a couple of times and always won by threatening to take my custom away. There are so many good accounts out there and switching is simple. I agree that £35 is steep so I reckon you have a good case.

Note - don't deal with your branch direct, call customer services instead who will be more interested in keeping your business.

Answer 2

Yes, although it depends what bank. Some will let you off with it if your only overdrawn by a certain amount. My bank generally wipe it if it's under £10, although others can be totally immovable about it, so it might be worth contacting them.
I'd also be wary if it's a direct debit payment that's taken you over the limit, as a lot of companies will automatically retry for the payment a couple of days later if it's unsuccessful, so you could get hit with a £35 charge two or three times.

Answer 3

I work at a bank in Arkansas and we charge $30 for each overdrawn item, whether the amount is for 100 dollars or for 2 cents.

Answer 4

Yes. Every bank has it's own rates for different transaction. It is also a way of punishing and reminding you to have adequate funds in your account before you write a check.

Bank fees are not regulated and as such they charge whatever they feel.

Answer 5

No they can't - I know of a website (details to follow) which has a template you can use to reclaim your charges.

Essentially you have to provide exact details of what you've been charged, and then threaten them with court action if they don't refund it - A colleague of mine recently won back £3000 that he'd been charged whilst a poor student so it's definitely worth a punt.

The key tip is to provide exact details up front, then the Bank is less likely to put up a strong fight.....

Answer 6

Depends what country you are in but for the uk:

On 5 April 2006, the Office of Fair Trading (OFT) concluded that default charges over £12 are automatically presumed to be unfair in terms of the Unfair Terms in Consumer Contract Regulations. Unfair terms are legally unenforceable.

http://www.govanlc.com/bankcharges.html

Answer 7

They can charge you whatever amount they have set as the overdrawn fee

Answer 8

Read terms and conditions which will give you details of charges

Answer 9

they can do anything they want, they gotta make money somehow. yes they can charge you. one time I got charged a fee for going through the drive thru teller too many times...they can do whatever they want

Answer 10

Yes they can. But it is always worth challenging them, especially if it is over by a small amount, and if you are polite yet assertive they "may" let you off.