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How to ask your bank for a refund of overdraft charges

refunds from overdraft charges

Have you had big overdraft problems for a long period? You can make an affordability complaint and ask for a refund of overdraft charges if: your overdraft limit was increased to a level you would be unable to clear; or your overdraft usage showed you were in long-term financial distress. For example, being in the overdraft all the time, or using an unauthorised overdraft a lot. This … [Read more...]

February 22, 2022 Author: Sara Williams Tagged With: overdraft, Refunds

4 reasons why you need a new bank account

Everyone needs a bank account that they can rely on, one that doesn't cause more trouble than it solves. So here are four reasons why people with financial problems should get a new bank account. If you have a lot of problem debt, you may think you can't change bank accounts because no-one else would let you have a current account. But the new Basic Bank Accounts that were introduced in 2016 … [Read more...]

September 3, 2021 Author: Sara Williams Tagged With: overdraft

Overdrafts are often hard to clear – 4 ways to do it

Do you worry you will always be stuck in your overdraft? You aren't alone. Overdrafts can be the hardest sort of debt to pay off. Even authorised overdrafts aren't cheap, once you stop being a student. So what can you do that will work? Very hard to escape from The hamster on this wheel is enjoying going round and round and never getting anywhere. For many people, their overdraft feels … [Read more...]

February 19, 2021 Author: Sara Williams Tagged With: Debt psychology, overdraft

Lloyds & Halifax overdraft fees higher if your credit record is poor

A rollercoaster ride - up, down, up and around - lloyds and Halifax overdraft charges have kept changing dramiatically since 2017. And the last 2020 charges are unfair to customers with a poor credit rating.

In July 2020, Lloyds, Halifax and Bank of Scotland (BoS) increased their overdraft charges and a month later people are starting to see the full cost on their monthly statements. This is the fourth change to the banks' overdraft charges since 2017. The new fees are higher for customers with a bad credit rating. This is unfair in several ways. So what can you do if you can't afford these … [Read more...]

August 20, 2020 Author: Sara Williams Tagged With: overdraft

New “simpler” overdraft charges in 2020 are higher for 8 million people

In June 2019, the bank regulator, the FCA, announced its new rules about overdraft charges. It called these: the biggest shake-up to the overdraft market for a generation. Banks have to change their overdraft charging before April 2020. On 22nd January the last of the banks announced how they were changing their rates. And the FCA has now admitted that about 8 million people will be paying … [Read more...]

January 28, 2020 Author: Sara Williams Tagged With: overdraft

“My overdraft limit has gone up & I don’t want any more debt”

There are thousands of people in Britain in 2020 who will know how Mr D feels when he asked: We moved into our own place 18 months ago.  I have have had to ask for my overdraft limit to be increased several times when I can't afford the bills. It is now at £2,000 and I am paying more than £60 a month in fees. I am trying to reduce it but really struggling as I am the only one working while my … [Read more...]

May 30, 2019 Author: Sara Williams Tagged With: A reader asks, overdraft

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