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Hi, I'm new to this forum, but I think there's is something that needs clarifying. Banks don't just charge for meeting a transaction that goes over any overdraft limit, they can (and do) charge if they decline to meet a direct debit, even though they know the funds are in the account. This happened to my wife. A direct debit for a secured loan repayment was due to leave her Alliance & Leicester current account on Wednesday. The previous weekend, an electronic funds tranfer for £500 was sent to her account from another Alliance & Leicester account (this would have more than covered it). Despite being told previously by A & L that electronic funds transfers clear 24 hours after they are sent, this one was still showing as an `uncleared credit'. The debit came in, the bank declined to meet it and charged her £34. Because the loan company will have to represent their debit, they will also charge her (amount unknown, but probably in the region of £30). All this extra cost because A & L did not handle the electronic funds transfer as quickly as they said they would. I asked A & L why electronic funds transfers are subject to any delay at all; the whole point about electronic being that it's quick. I was told this was to allow the sender time to "change his mind and recall the transfer". This doesn't even bgin to make sense; it was the anger this caused that finally prompted us to use one of the well constructed template letters available on this board, and start action to get a full refund from A & L of all charges made to my wife's account over the last 6 years. She's actually had her account for over 18 years; it was one of the old Girobank accounts that A & L took over, but I gather from what I've read on the forums that as things stand, recovery action for excessive costs and charges can only go back 6 years. Is this correct? Best Regards, Jim.