If you are going to bounce something because it is over limit, bounce it. Or don't.
Dont fucking show it over limit on the on-line banking - let me transfer money from another account to cover it - and then, later, still bounce the original damn payment leaving the account in credit but payments bounced.
Arrrrrg!
Back to finding banks with clue...
You need to start your own. It's the only option
ReplyDeleteI heard a story of some guy who did exactly that. The existing banks tried to bury him - quite possibly literally.
DeletePerhaps you could buy up the Lloyds branches that the Coop Bank couldn't afford. Or maybe just take over the Coop Bank?
ReplyDeleteYou could even copy Burnley Savings and Loans (http://www.burnleysavingsandloans.co.uk/) - there was a guy who had fun with another regulator!
Not as bad as what mine did once - sent me a bounce letter, for three transactions, but with the quoted figures actually implying it was a mistake. Not signed, so nobody to blame for incorrect proofreading. Cue a week of argument that eventually got me the charges back.
ReplyDeleteMy bank always does this. They quote their conditions: "Payments must be cleared by the end of banking on the day before an ougoing payment is attempted"
ReplyDeleteSince the 1st of May they have improved slightly, and you can transfer money in (including paying in cash over the counter) up to 12:00 on the day of the outgoing payment, so if you notice it quickly enough and can get the money to them in time, it's covered. If not, it's bounced, and they charge £15 for the privilege (even if it's a trivial amount over - my record was 46p!) This is the Coop, by the way.
When I can clear my overdraft, I will move elsewhere. If there's a bank with a less onerous attitude, that is...
Cheers, Howard
SWMBO has that trouble. She rarely has more than £50 in the account, so £15 is a huge amount to charge - she beat your record.. they charged for going over by 10p last month.
DeleteAs with all banks, totally unsympathetic even if money was in the account the next day.
RBS and therefore possibly NatWest will send me a text message warning me that a (personal) account is about to go overdrawn, and that I have up until 2pm/3pm (can't remember which) to pay funds into the account in order to allow the transaction to proceed and avoid any fees.
ReplyDeleteVery useful on the couple of times that it has happened.
(For those with RBS / NatWest accounts, it's in the digital banking, Alerts settings, and is entitled "When you need to pay funds urgently into your account to help minimise fees (your Act Now Alert)"
Also the help section states:
What is an Act Now Alert?
Act Now Alerts can help you stay in control and minimise or even avoid fees for unarranged overdrafts and returned items. They specify the time by which you should pay money into your account which is immediately available to use by the specified time to cover all payments and/or to bring your account back into credit or within any arranged overdraft limit.
If you sign-up for Act Now Alerts we will send you a text, email or both, to warn you if:
• You don't have enough money in your account to cover a payment you have requested (e.g. Direct Debit) and we're going to return it unpaid and charge you a fee – unless you pay money into your account which is immediately available to use by the specified time;
• You don't have enough money in your account to cover a payment you have requested or falls due, and we're going to pay it, creating an unarranged overdraft and charge you a fee – unless you pay money into your account which is immediately available to use by the time specified in your Act Now Alert;
• You're already using an unarranged overdraft and we were not able to send you an alert in advance (e.g. if you make a payment with your debit card on a train or plane where it is not possible to check that there is enough money in your account. In these circumstances, you may have already incurred an Unarranged Overdraft Fee before we are able to send you an alert);
• You have been using an unarranged overdraft for five or more consecutive days.
We will usually only send you one alert per registered account on any given day. For example, if we pay an item (e.g. a Direct Debit) which creates an unarranged overdraft, we will send you an alert to inform you that an unarranged overdraft will be created on your account and that a fee will be charged unless you pay money into your account which is immediately available to use. If, on the same day, we receive a request to pay another item and we decide not to pay it, that item will be returned unpaid. However, you will not receive a second alert informing you of this.
Act Now Alerts are sent from 8am on business days (Monday to Friday excluding Bank Holidays).
If you receive an Act Now Alert, there are some easy ways for you to pay money in to your account which is immediately available to use (once you've checked your balance).
• Transfer money from another RBS account, for example via Digital Banking or telephone banking.
• Pay in cash over the counter at any RBS branch.