Thread: Co-op amend charges structure from 3rd July

I have received a letter from the Co-op informing me of the following:

Waiver We will not charge you any unpaid item fees for items that we return to prevent your account from becoming overdrawn (or for the duration of an overdraft which lasts six consecutive working days or less) providing that you had kept your account in credit for the previous 366 days.
Quarterly Cap We will not charge you more than a total of £150 of unpaid item fees per quarter (a quarter being a
group of three charging periods starting in January, April, July or October). If we agree to refund any previously charged unpaid item fees during a given quarter then the £150 will increase by the amount
of those refunded fees.

They are also going to notify customers of pending charges on their statement, and then wait about two weeks before taking these charges.

I find it interesting that they are "being nice" with the HOL date looming... especially as they are not part of the test case!

Loz

Quote:
Waiver We will not charge you any unpaid item fees for items that we return to prevent your account from becoming overdrawn (or for the duration of an overdraft which lasts six consecutive working days or less) providing that you had kept your account in credit for the previous 366 days. So if you are a good boy for a year and a day you can bounce a dd - how nice of them

Quarterly Cap We will not charge you more than a total of £150 of unpaid item fees per quarter so £50 a month(a quarter being a
group of three charging periods starting in January, April, July or October). If we agree to refund any previously charged unpaid item fees during a given quarter then the £150 will increase by the amount - and if you claim the charges back we will add it to the next qtrs charges
of those refunded fees


Dosent sound like a good offer to me