Co-op & Smile charges

[steveandluc]

Does anybody know if Smile & Co-op charge the same amount for the same thing ? (DD rejections etc)

[ian cognito]

No they don't - strangely enough, Smile charge a daily fee for an unauthorised overdraft, co-op don't.

[steveandluc]

Thanks. I was just thinking that if they don't charge the same amounts, then it would be difficult for them to claim that the charge was a true reflection of their costs as they are the same bank. They don't have seperate systems for processing these 'core banking' functions. The true cost should be the same.

[ian cognito]

Good point but they would probably use the excuse that Smile are an internet bank so their costs differ. They told me they didn't notify me by post of my overdraft because they only use secure messaging, then they told my brother he couldn't send his loan application by secure messaging, it had to go in the post! Nothing like a bit of continuity!!!

[steveandluc]

It's true that account opening & customer communication costs may differ, but the cost of applying automatic penalty changes doesn't. There's little difference between a smile account & a co-op bank account in the day-to-day running.

[ian cognito]

co-op charge a service charge of £25, daily excess charge of £15 and commission (?) (unpaid item) of £35. Smile charge service charge £15 and a daily excess charge which I think is £5 per day but it only shows as £150 per month on my statements, no unpaid item charges on this account because I don't use it so I can't wait until we get to court so they can justify their charges of £1533 in 12 months for no transactions!

[ian cognito]

Interesting afterthought - if their excess charge is £5 per day, could anybody explain to me which month has 33 days to justify their £165 charge in a month?

[Welshman]

Have you also claimed for the "Commission" charges?

[ian cognito]

Yes the commission charges make up the bulk of my charges, it appears to be for an unpaid, or paid item when overdrawn.

[amazingcharges]

How do you go about sorting out a total charge of £40 for being .69p overdrawn for 5 days of which include sat and sunday given a refund for fees was issued 13 months ago for card missuse? (internet transaction in us dollars was made knowing i was close to the limit but not sure due to the dollar rate. Thought if the transaction goes through must be enough in the account)

Or do i just ask for my pants to be pulled up after i pay?