i am consistantly being charged by my bank. i don't qaulify for a overdraft facility. i am currrently working two part time jobs, i also recieve ema of £30 a week. my ema payments always arrive either late or are missed due to school teachers not processing on time. recently i was overdrawn only for one day, and got paid the next day. each time i am charged £25. The next charges are being applied on the 4th of jan for the amount if £50. £25 is for the first day of being overdrawn and the next £25 is appalied the next five working days.this is totaly unfair, i am for ever paying money back to the bank. i am only 18 is this not ellagal for a bank to charging me continuously putting me more and more in to debt.
2007-01-02 06:41:20 · 9 answers · asked by navpreet g 1 in Business & Finance ➔ Credit
If payments due into your account are being made late and not when you have been told they will be made you can seek reimbursement of charges from the company who is making late payments into your account.
If your account goes overdrawn and you have NO arranged overdraft facility then you are using the Banks money without their permission and they will charge you for doing that.
If you came round my house and borrowed my car for 1 day without making an arrangement with me first i would not be happy and i would expext you to compensate me. If you went into Tesco and borrowed a pack of pork chops without paying for them and without asking if it was ok they would probably report you to the Police.
2007-01-02 09:48:23 · answer #1 · answered by angie 5 · 0⤊ 0⤋
Yes it is perfectly legal although it seems abit unfair. Hoever, how are you managing to go overdrawn if you do not have an overdraft facility. Are you going to cashpoint and taking out money that you do not have - are you checking your balance before withdrawing money? if not then you really should. Also phone your bank and tell them that you want your account marked so that you cannot overdraw on cashpoint. Some banks let you do that andthen charge you and you have to make it clear to them that you do not want to be able to overdraw at the cashpoint.
2007-01-02 08:10:26 · answer #2 · answered by D B 6 · 0⤊ 0⤋
It is legal. Look at the terms of your account, I am sure you actually agreed to those terms when you opened the account. I suggest you close the account and deal with cash and buy money orders or the equivilant to pay your bills.
2007-01-02 06:48:04 · answer #3 · answered by Question Addict 5 · 0⤊ 0⤋
it is legal however if you write to your bank manager requesting notification of all the charges youve been charged theres plenty websites where you can take the matter further.
type bank charges into your search engine .
2007-01-02 06:51:51 · answer #4 · answered by Anonymous · 0⤊ 0⤋
i am having the same problem with my bank ,it is actually illegal there is actually a little now law that says so.so get to the bank and challenge them if you have know joy write to the ombudsman. how do i know this i heard it on my local radio station and they were covering this topic.
2007-01-02 06:56:40 · answer #5 · answered by chloe 1 · 0⤊ 1⤋
It's not illegal, but...what you can do is call them and ask (very nicely) to have some of the charges dropped. They will often do it if you ask nicely and explain your circumstances. Good luck!
2007-01-02 06:49:32 · answer #6 · answered by prekinpdx 7 · 0⤊ 0⤋
http://www.penaltycharges.co.uk/guide/index.html
Go here if enough people do it then the banks will be crippled! Robbing Buggers!
2007-01-02 06:47:24 · answer #7 · answered by Sir Sidney Snot 6 · 0⤊ 0⤋
yes its legal close the a/c if i was you
2007-01-02 06:45:31 · answer #8 · answered by Anonymous · 0⤊ 0⤋
http://www.govanlc.com/bankcharges.html go to this site...they helped me get my money back x
2007-01-02 08:16:21 · answer #9 · answered by secret_smile4u_only 3 · 0⤊ 0⤋