Muzz

Right im currently in a dispute with my bank (Halifax) over overdraft charges.

I have had the same bank account since i was 14, crappy Visa Electron card that you can use in about 2 shops and on a couple of online stores. The reason they created this card, is to allow kids the experience of shopping with plastic without the risk of going overdrawn. Well this is the point, this card will happily let you go overdrawn. I know i could of well managed my finances better to prevent going overdrawn but, although i am nearly 19 (And thank fuck have finally got a proper bank account) i was still using the same account with the same guidelines that i had since i was 14. Now as far as i can remember, it is illegal to allow anyone under 18 to have credit/charges - the whole point of this card not being able to let you go overdrawn? Now they are trying to charge me £28 for going overdrawn a month a go and not allowing me to close the account? I have had no letter or emails telling me that my account has been upgraded to allow it to go overdrawn.

Is there anything i could do? As surely if it is like this for me is must be like this for everyone else?

Iain Mac

I'm not sure I fully understand what you are saying here.

I do find it difficult to sympathise with the banks, but it seems that you have spent more money than you actually had in the account, and now don't want to give the bank their published fees for this service?

As you are 19, the bank have done nothing illegal or wrong here in extending overdraft/credit facilities. Indeed, the conditions of use probably put the onus on you to spend only what you have on deposit, , and I would have thought you would read the info that they send out from time to time with a statement (or maybe even print on the statement) and know what you are letting yourself in for.

I suggest that you just pay them the £28 before they add late fees etc to it, and consider it a learning experience that will help you through the rest of your life and in all you dealings with the financial institutions of this marvellos country.

Katie

It's probably in the small print as my account is, that when you're 18 they reserve the right to alter the account terms which you are using without warning etc etc...
You just have to ensure you tell them you don't want an overdraft, or don't go overdrawn post 18? They sent me details of my ''new credit limits'' a few days after my 18th birthday the cheeky sods, with a nice booklet of fees and loan oppurtunities...

cahzz

right i'll clear this up for you, basically if spend more than whats in your account, i.e in 1 transaction the bank will honour that payment, they will then charge you a fee which goes up very quickly so get it paid off asap