Bank Charges took son into the red

[gavers]

Re: Bank Charges took son into the red

This is the my acc.

I am currently in fulltime education and only used my account to pay my car.

I use a separate account for my student finances.

I hadn't realised i had been in the red until the bank contacted me a year later after settling my car, hence not knowing i was in the red.
Surely the bank would not allow funds to be debited if there was no money in the acc!
Further from this after reviewing the account the issue that arose making me go into the red was the fact they authorised a £40 ATM transaction. The previous balances on the account hadn't cleared until after the £40 withdrawal, surely this isn't covered by a so called 'shop floor' limit. I understand this is only applicable to credit cards?

If the £40 withdrawal wasn't allowed there would have been sufficient fund to allow the previous transactions to clear.

My understanding is that the bank is at fault, not only allowing me to withdraw £40 when there wasn't sufficient funds, but it is beneficial to them to allow this to happen to slap charges on the account effectivly making a 100% profit from it?

I have filed an SAR which is due to be back to me by 10th Dec 2011 however no word back from them as of now, within the SAR i requested a Credit Agreement which gave them 12 days to respond still nothing and they haven't refunded the £1 CCA agreed fee attached to it. This request is nearly two weeks over due.

They have offered me a 50% refund as a good-will gesture more like two fingers up at me.

[labman]

Re: Bank Charges took son into the red

Basic commitments of the banking code:

15. Subscribers will act fairly and reasonably in all their dealings with customers by, as a minimum, meeting all the commitments and standards in this Code. The key commitments are shown below.

Subscribers will make sure that advertising and promotional literature is fair, clear and not misleading and that customers are given clear information about products and services.

Customers will be given clear information about products and services before, during and after the point of sale, including how they work, their terms and conditions and the interest rates and charges that apply to them.

Regular statements will be made available to customers (if appropriate). Customers will also be informed about changes to the interest rates, charges or terms and conditions.

Subscribers will lend money responsibly.

Subscribers will deal quickly and sympathetically with things that go wrong and act sympathetically and positively when considering a customer’s financial difficulties.

Personal information will be treated as private and confidential, and subscribers will provide secure and reliable banking and payment systems.

Subscribers will make sure their staff are trained to put this Code into practice.

[Gorang]

Re: Bank Charges took son into the red

I have filed an SAR which is due to be back to me by 10th Dec 2011 however no word back from them as of now, within the SAR i requested a Credit Agreement which gave them 12 days to respond still nothing and they haven't refunded the £1 CCA agreed fee attached to it. This request is nearly two weeks over due.

If this account is a standard bank account and not a credit card account then you will NOT get a credit agreement, unless I have missed something in your thread

Further from this after reviewing the account the issue that arose making me go into the red was the fact they authorised a £40 ATM transaction. The previous balances on the account hadn't cleared until after the £40 withdrawal,

Can you prove this with statements

ie the balance on the statement shows there was not sufficient available funds in the account to withdraw the £40 at that time



also as leclerc as already asked

which bank is it?

[tortoise]

Re: Bank Charges took son into the red

Oh golly gosh, all one is reading is about banks. Please pass on my sincerest condolences to your son, it's all terribly concerning for such a young boy.

Sound advice though chaps, many congratulations.

[leclerc]

Re: Bank Charges took son into the red

This is the my acc.

I am currently in fulltime education and only used my account to pay my car.

I use a separate account for my student finances.

I hadn't realised i had been in the red until the bank contacted me a year later after settling my car, hence not knowing i was in the red.
Surely the bank would not allow funds to be debited if there was no money in the acc!
Further from this after reviewing the account the issue that arose making me go into the red was the fact they authorised a £40 ATM transaction. The previous balances on the account hadn't cleared until after the £40 withdrawal, surely this isn't covered by a so called 'shop floor' limit. I understand this is only applicable to credit cards?
Floor limits are applicable to debit cards as well and so the logic is not right.
If the £40 withdrawal wasn't allowed there would have been sufficient fund to allow the previous transactions to clear.

My understanding is that the bank is at fault, not only allowing me to withdraw £40 when there wasn't sufficient funds, but it is beneficial to them to allow this to happen to slap charges on the account effectivly making a 100% profit from it?
there is a floor in that part of your logic because you are making an assumption that many people do, ie that the bank is a human being that thinks when it is an automated machine that simply does not think.
I have filed an SAR which is due to be back to me by 10th Dec 2011 however no word back from them as of now, within the SAR i requested a Credit Agreement which gave them 12 days to respond still nothing and they haven't refunded the £1 CCA agreed fee attached to it. This request is nearly two weeks over due.

They have offered me a 50% refund as a good-will gesture more like two fingers up at me.

Which could mean that 50% is being offered because it was a first offence, the fact that you are in full time education and you have contacted them.
My question is simple, what happened to the bank statements?
Was the address up to date?
Did you not receive those statements or did you opt for paperless statements?

How much is the debt currently?

[gavers]

Re: Bank Charges took son into the red

In the meantime from the last reply I have had back my SAR, which didn't include all the things which I had asked for.

ie. The breakdown of all the charges and what it cost them to process. They deemed this not my personal information under the Data Protection Act.

I replied in the second letter with a proposed resolution from myself paying the total amount overdrawn and the default notice removed, but they responded with the same deal as before.

I feel the bank is at fault allowing the £40 transaction to occur, surely an ATM would have the most up to date information on your account as people use these machines to determine how much cash they have available, just like I did. I know they are machines and require updates etc... but this happened over the space of a few days I don't buy the excuse they are not updated regularly. I am told by one of their senior managers (an employee in my current job) that the ATMs are updated at 11pm each night. In my current bank, I action a card transaction and it instantly becomes unavailable at an ATM.

Hands up I did withdraw the money thinking I had it as per the ATM but again if this didnt happen the original transactions which took the account overdrawn a few days previous, there would have been the funds to allow these to clear.

As to the statements I do have some from before the charges spiralled, however they advised me that they were all provided online. I stopped receiving them in early 2010.

I can't understand why they would let the charges become so much before contacting me, which was nearly a year later from the original 'offence'.

I have also received a response to a second letter of complaint, basically it is a regurgitation of the original response, with a few amendments to make it seem as if the letter had been read.

I am going round in circles with these people is there anybody out there who can offer advice on the next steps I should take.

My father has suggested taking it to the FOS.

The debt currently stands at £297, which the charges have been added whilst the account is in dispute. Is this allowed as per the CCA? I have requested the account is closed in my original complaint and further charges stopped until the debt is resolved but they still each month add interest and more charges. I know this isn't a lot of debt but something I don't really want hanging over me.

I am aware the FOS charges to look into these things which I understand to be in the region of £500, surely the bank will want to settle this before going to that stage??

Any advice on this would be great


Many thanks
Gavers

[labman]

Re: Bank Charges took son into the red

Two things.

1. I refer you again to Section Nine of the Lending Code (just Google it!)

2. You have been asked several times which bank it is, but have still failed to respond. Could you answer this question please?

[Gorang]

Re: Bank Charges took son into the red

In the meantime from the last reply I have had back my SAR, which didn't include all the things which I had asked for.What did you specificly ask for

ie. The breakdown of all the charges and what it cost them to process. You will NOT get this as this is what many of us has been fighting to get over the last 6 yrs
They deemed this not my personal information under the Data Protection Act. This is correct, it is NOT your personal info but it should be

I replied in the second letter with a proposed resolution from myself paying the total amount overdrawn and the default notice removed, but they responded with the same deal as before. Yeah pay the money but the default stay's, is that correct?

As to the statements I do have some from before the charges spiralled, however they advised me that they were all provided online. I stopped receiving them in early 2010. This should of been supplied to you when they complied with your SAR request, if they havn't then send them a reminder that you want copies of your statements


My father has suggested taking it to the FOS. No harm in trying I suspect, but please wait for others to coment on this as I have not dealt much with the FOS

In the mean time I personally would be pushing to get copies of all your statements under your SAR request to see if they show the available balance at the time you took out the money

Also Which bank is it that you are dealing with?