Bank Overdraft Fees

Bank charges in the UK are ridiculously high and people are now beginning to fight back against them. It seems to me that the banks regard their customers as "cash cows" to be milked when they feel like it. I would have a word with your bank and see what they have to say about the situation, maybe try to appeal the charges hun

Ouch sweetie. Thats a huge amount for such a small purchase. I think the way the banks make money off is nasty. Gone are the days of old fashion bank service, now its all bout making money and how much they can make. We too got an overdraft letter, $30 fine for a $30 purchase.

I agree with you totally personally I think that all banks should be told to cut the Fees down all together as half the time they come to more then what was returned or gone over I guess this is how the banks make their high Profits by ripping of the poor People.

Ugh! That stinks! I've never had to pay an overdraft charge. I wouldn't much like it if I did. Before I got married, I banked at an independent bank. They called me the only time I was ever bouncing a check. The reason that the payment I had made wasn't going through was because the check I received from my work had bounced! I called my boss and told her, and we went together to her bank and cashed in. I'm not sure why it bounced, according to her bank, there had been enough to cover it for the last month. But for whatever reason it bounced, and I didn't have to pay for it luckily. Now that my husband and I are married, there are times when we aren't as good at managing our finances. It seems like any time I go shopping without him, and spend more than $50 (on groceries or baby items or whatever) he comes home and has spent money, too. And we go over. We have overdraft protection with US Bank, though. It's not connected to our credit card or anything either. We just have a reserve line of like $2000. If we go over, they deposit $200 at a time in it. Then they take $25 out of each deposit you make until it's all paid off. You pay interest, but it's not nearly as high as those overdraft fees! We usually just pay it all off as soon as my husband gets paid, though. So we don't have to pay the interest.

Well, my mom says I should get overdraft protection, unfortunately they do charge a small fee (1 or 2 USD) each month, however there have been months where I had less than that. I feel I may not have the money in there and then I won't get the protection. If you have overdrafted so much I do recommend overdraft protection, they "loan" you the money (for the 1 or 2 USD) and then you are required to put the money back into the account to make it positive again. In your example you would be negative sixty, so you would need to put at least 60 if not more. Well I have overdrafted before, but my bank (aren't they nice?) called me to tell me that my bank was in the negative and if I didn't put money to make it positive I would receive fees for negative balance in the next few days. The fees were 29.95 USD for overdraft! I thought that was SO much and I was pretty sad. I was thinking about overdraft protection, but since my account was open in 2001 I have only used overdraft four times. And they have always been because I did a miscalculation in my checkbook. Now I always double check my checkbook, on phone or over the internet to see what cleared and how much my actual balance is. I think the fees are a way for them to get money because most banks offer "free" checking (free opening the account, free checks, free debt card access, free this and free that) so they must "make" the money somewhere, right? A big plus for your discussion. Pablo

they're definetly too high.my mother's bank charged her almost forty dollars for being two dollars over. i thought that was absolutely ridiculous. although,credit cards can be worse-they're getting away with 29.99% overdraft in some cases now.

I find overdraft fees to cause so many problems. If one is overdrawn by $1.00, why are they charged $20-$40 for that? I had no overdraft options. On my account ,someone got my info and was cleaning me out and I had no clue. Now it is overdrawn and i had it frozen until we can work this out. But I had over $300.00 of overdraft charges for just a small amount of being overdrawn. I was traveling at the time and someone was suppose to be taking care of my finances, it was a law firm and as it turns out, they were criminals. I have received judgment against them but it can be years before their appeals are finished. So, be diligent, and keep your own hands in the pot when doing finances, I put to much trust in them and also in my bank to notify me, but they never did. I think it is because they could earn more money with all of the overdrafts.