bank charges?

Question

Ok here we go.

I bought flights online with my debt card and fought nothing of it.

That was 2 months ago, but the company did not take the money untill yesderday!

So there was no enough money to pay for them (£302) So the bank gave them the money, even though there was not enough money to give them, I do not have an over draft and I am only on a debit card account, meaning if i do not have the money in my account I can not get goods.

Now I do not get paid till end of month so I cant pay my bills untill then as when ever money goes into account bank going to take it back right away, im in a big mess and i am due to see manager tomorrow, what avenue do you think I should try?

Answer 1

Quit using a debit card unless you can keep track of the purchases -- if you knew you had the 302 outstanding then it should have already been subtracted in YOUR records so that you knew it wasn't there to spend.

Having said that, I suggest trying to get a small low interest loan to tide you over, but don't expect to get one. At best you might be able to get a loan at very high interest rates.

Whichever you get, pay it back on time everytime so that you can qualify for overdraft protection in the future.

Good luck.

Answer 2

I just got rid of my debit card and cheque book and changed to a cash line card instead. I had an overdraft and if I went over because I'd forgotten about a payment due to come off I got charged £38 plus the interest and on one occasion I paid money in to cover a cheque coming off and they still returned it even with money in account and they put on a charge I complained and got the £38 charge back. My brother in law had a problem to he had been paying money in to pay for his car that he had bought but the bank had been paying it into someone Else's account it only came to light when he got a letter from the car company saying he hasn't paid any money for it. I don't think its fair for banks to charge if you go over your limit they should just decline the payment without any charge I don't know if it costs them for returning unpaid debits so why should they charge us.

Answer 3

Firstly ask for an overdraft, you'll pay interest but no more bank charges. Ask them if they will wave some or all of the charges.

Ultimately and depending on how far you want to take it, you could take the bank to court for unfair charging and they will probably settle out of court as the banks dont want a precident set against them.

Answer 4

Talk to your bank and see what they can do for you.

Bear in mind that all they can legally charge you is overdraft interest (probably at their un-arranged borrowing rate if I know banks). If they charge you for anything else it is most likely illegal in law and can be reclaimed from them (with interest and costs) as unfair charges, see:

http://www.consumeractiongroup.co.uk

for more info about this aspect. But talk to your bank first, they will more than likely help, it really is in their interest as much as yours

Answer 5

You could always talk to the Financial Ombdusman Services and see what they can do for you. I don't know if they could make the company give you some compensation for going overdrawn, but it's always worth a try.

Answer 6

Pay back what you owe the bank. You should have kept better track of your money.

Answer 7

if you purchased these tickets months ago then you should have subtracted that money from your account when you made the transaction you overspet somewhere when you knew you didn't have the money do to the tickets you purchased.