Banks charging

[JoeF2k2]

On thursday night i transfferd £326 from my bank to the missus as the rent was out on friday and she didnt have enough in. So come friday when my wages went in it went to her and the rent was paid but her bank was minus, i checked last night at 6pm when in from work and it showed the money went in and there was x amount left in there.

This morning got a letter saying there was not enough cleared funds in the account so they are charging £25 *** !!! how can they still get away with these ridiculous charges? its disgraceful

[JoeF2k2]

25 sep 2009 s-order to northwood £525.00 £-14.23
25 sep 2009 payment review fee - item paid £25.00 £510.77
25 sep 2009 b-paymnt joe £326.00 £535.77
25 sep 2009 card pmnt 24sep tesco garage 5 £9.89 £209.77

it dont even state on my account that i went into minus yet they still took it

[Phil57]

Originally Posted by JoeF2k2

On thursday night i transfferd £326 from my bank to the missus as the rent was out on friday and she didnt have enough in. So come friday when my wages went in it went to her and the rent was paid but her bank was minus, i checked last night at 6pm when in from work and it showed the money went in and there was x amount left in there.

This morning got a letter saying there was not enough cleared funds in the account so they are charging £25 *** !!! how can they still get away with these ridiculous charges? its disgraceful

Are you moaning about the fact that you didn't transfer the money in good time to clear, or the fact that you were charged or is it the amount of the charge?

[nheather]

It seems very strange to me.

What he is saying (I think) is that he got 'fined' because when he transferred the £326 out of the account there wasn't enough funds to cover that.

But if the mini statement he provided is correct this isn't the case, he didn't go overdrawn at all and had a good safety margin of at least £200.

@JoeF2k2
You are not required to keep a minimum balance at all times are you?

If not I would speak to the bank and ask them what the 'fine' is for because I can't see any reason for it on the information you have provided.

Cheers,

Nigel

[JoeF2k2]

I didnt do it in good time because i did not have the funds in my bank untill the friday so i setup the transfer thursday night to go through, we are in a pickle at the minute cause the missus lost her job and has a new one now but gets paid every 4 weeks.

The above statement is correct which is why i dont understand why they charged me when it clearly shows there is enough money for £525 to come out. I dont have to have a minimum amount in my bank at all times.

[nheather]

Just re-read the statement and noticed the -£14.23.

Does that mean that before the £525 came in you were overdrawn.

If so, then the 'fine' may be badly worded and is about that transfer.

Or perhaps there was an attempt to take the £326 out before that £525 came in.

Cheers,

Nigel

[JoeF2k2]

there was £209 in her bank, i put £326 in which made it upto £535, they then took £25, then the rent came out @ £525 which put me on -£14 but going off that statement this only happened cause they decided to take £25

[Phil57]

Originally Posted by JoeF2k2

I didnt do it in good time because i did not have the funds in my bank untill the friday so i setup the transfer thursday night to go through, we are in a pickle at the minute cause the missus lost her job and has a new one now but gets paid every 4 weeks.

The above statement is correct which is why i dont understand why they charged me when it clearly shows there is enough money for £525 to come out. I dont have to have a minimum amount in my bank at all times.

What is printed on the mini statement is not relevant, cleared funds is what is important.

Can you clear something up, who was charged £25, you or your partner?

[lowmans100]

Originally Posted by JoeF2k2

25 sep 2009 s-order to northwood £525.00 £-14.23
25 sep 2009 payment review fee - item paid £25.00 £510.77
25 sep 2009 b-paymnt joe £326.00 £535.77
25 sep 2009 card pmnt 24sep tesco garage 5 £9.89 £209.77

it dont even state on my account that i went into minus yet they still took it

As I see it:
Line #4 paid out £9.89 (tesco garage) Balance 209.77
Line #3 paid in £326 (transfer from joe) Balance £535.77
Line #2 paid out £25 (review fee) Balance £510.77
Line #1 paid out £525 (standing order northwood) Balance -£14.23

You need to find out what the £25 review fee actually is, are you sure it is an unauthorised overdraft charge?

If the 'review fee' is in fact an unauthorised overdraft charge, another explanation is that although your £326 transfer is shown on the statement it did not actually clear in time.

Alternatively, the items on the statement are likely not in chronological order as they all occurred on the same day. With my account standing orders go out at seconds past midnight and your transfer could very well have been paid in after the £525 standing order went out, e.g. £326 transferred out of your account a minute or so past midnight and therefore went into your wife's account after the £525 rent went out of her account.

I would expect a short visit or call to her bank would get the £25 charge back.

[JoeF2k2]

Just rang the complaints department of Alliance and Leicester and after a brief call they refunded the money and said it was actually under review because there was a couple of hours in terms of when the money went in from me and when it went out of her bank, never normally happened as we have never been in this situation. I always thought the bank honours it if they can see funds are going in, but they didnt see this untill a couple of hours later. £25 is still a high fee for this and £5 for every day after that you are minus. Thought all these high charges dropped