Halifax Overdraft - Changes to Accounts £1 a day

[Bookworm]

Yep.

 

Change banks.

 

Then divert all your income etc to the new bank. Tell Halifax in writing that you do not accept those new T&Cs and will no longer be using the account, but can not afford to pay off your o/d before closing it, and ask that they keep on running it under current T&Cs whilst you pay it off, the way credit cards have been doing.

 

I'd also report them to the OFT, the more people do that the better, as if that's not unfair terms, I don't know what is! I feel this comes squarely within the CPUT Regs and should be reported to the OFT as such, IMO.

[Bookworm]

it looks like i could be in same situation i have 2 current accounts with the Halifax both overdrawn

i cant recall getting a letter from them telling me of the £1 a day charge

can anyone tell me when these charges start from

December 1st.

 

how do i complain to the OFT and what would i write i wouldn't know where to start trying to write a letter like this

is it possible for template letters to be written and posted up 1 for the Halifax and 1 for the OFT i think there will be loads more people looking for help with this

I'll work on that over the rest of the week and post them up.

[Bookworm]

Here we go:

 

http://www.consumeractiongroup.co.uk/forum/halifax-bank-bank-scotland/226753-complaint-about-halifax-new.html#post2512610

[Bookworm]

Please don't panic!

 

For those of you who are now feeling you've been trapped, please read this:

 

http://www.consumeractiongroup.co.uk/forum/getting-out-debt/73030-taking-back-control-your.html

 

It is NOT the end of the world. If we can't get Halifax to listen, then follow the advice on that post, change banks and treat them with the same contempt with which they have treated you. PLEASE do NOT take another loan to pay them off, that may be exactly what they are hoping for.

 

Worse case scenario, you will pay them off at £1, £5 a month. So what? What have they ever done for you? If they keep on lobbying the £1 a day, so what? Keep track and reclaim it all, I am pretty sure that it is as clear-cut an unfair term as I have ever seen AND it is not covered by the FSA waiver, so you should be able to take it to court. Either way, it is simply a non-essential debt.

 

DON'T let them grind you down. I have a £200 o/d with them and I am going to get hit squarely on the head with their new structure, unless the money fairy comes and visits and the beatch seems to have lost my address. As far as I am concerned, they can add £1 a day until the cows come home, it is just them inflating an artificial debt I don't actually owe them. I didn't agree to these terms, I am telling them I am not agreeing to these terms, let see if they DARE ask a judge to hold me to them!

 

Chin up, peeps, they have tried to break us before and failed. You are thankfully not tied up to them so don't behave as if you were! ;-)

[Bookworm]

Hello Bookworm,

 

Out of interest, what is your opinion on the legality of these new charging structures? Surely we cannot go with Test case take 2 - although stranger things have happened. I agree with your earlier post, it certainly seems to be an unfair term.

 

TFT

Hi, TFT.

 

See the template complaint letter I wrote, link higher up for my opinion, I've gone into details.

What I haven't said in the letter as irrelevant in a complaint letter of that kind is that I believe that the £30/£60 a month will be reclaimable under the UTCCRs as there is no doubt they are unilaterally imposed, impose an unfair burden on one of the parties with nothing in exchange: How is the change in a contract, charging for something that was previously free(ish) going to be anything but detrimental? I mean, there is NOTHING in those new terms which is going to be to the consumer's advantage except the supposed "clarity" of the terms, and as I pointed out, they are anything but... I believe that the OFT has made it clear that terms should include what the APR and AER are for starters, and as we know, Halifax has been more than coy about that...

 

Sorry if the above is not clear either, I had a tooth out about 1 hour ago and am zonked on adrenaline and painkillers.

 

Bookie, out for now, I think.

[Bookworm]

I have been hanging around here too long, some was bound to sink in sooner or later, lol.

[Bookworm]

"decent" and "bank" in the same sentence? Excuse me while I chortle!

 

No, there are no decent ones out there, even the so-called "ethical" ones seem to think ethical behaviour applied to people elsewhere than in the UK.

 

I think First Direct has an incentive where they give you £100 if you move to them, but check first as I don't know if they still do it.

 

Natwest has been trumpeting their lowering the charges, but the £5 is for bounced cheques and the rest of the structure is not that different from the others'.

 

Barclays WITHOUT the Reserve is a fairly standard account, if within o/draft you only pay interest, if you go over they'll bounce items and charge you £8 a pop.

 

I don't know about others. My advice is do your research and work out what will work out the best. You could have a look at MSE, see if there are any good deals to be had.

 

If and when you move, make sure you let Halifax know the reason you are going. If enough people do that, maybe the message will get through.

 

And thank you for your kind words.

[Bookworm]

I've just noticed the number of guests viewing. I wonder how many are based in the Halifax HQ in Leeds!!

I don't think that many, more likely people are getting their letter, google it up, find this thread, view it, hopefully copy the letter and write to Halifax. Out of those, a few will actually join in and say a few kind words, and thank you to those who have done so and a warm welcome to CAG. I only regret that this is what made you find us. :-| May you long stay with us now you have joined.

 

Edit: Just checked and this thread is at position 2 if you google "Halifax overdraft £1".

[Bookworm]

IIf I arrange with the bank to repay my overdraft at my current interest rate and close the account, how (if they will at all) will they refund my bank charges which I have previously claimed for?

 

Answers on a postcard...

Sorry, no postcard, but I give you the answer anyway: By cheque. Believe me, they're used to it.

[Bookworm]

Yes, I posted a link to my templates on MSE and e-mailed Martin to let him know I had done so and to feel free to use them if he wants to publicise the issue, but the attitude over there is absolutely appalling and I feel I may be fighting a losing battle.

[Bookworm]

Not only I don't mind, I thank you for it. The more people know about this, the fewer chances of Halifax getting away from it.

 

Welcome to CAG.

[Bookworm]

That's the gist of the templates I wrote, IDS, clearly and firmly saying: "I do NOT accept those new terms, I can't just close my account, what are you proposing to do about it?"

 

I know that credit cards such as Cap1, when they hiked the interest rates a few mths ago, gave people a choice of continuing to use the card and thus accept the new interest rates, or they could write to Cap1 saying they didn't want those, stop using the card and pay off the balance at the existing rate, which I thought was a fairly reasonable way of doing things and I can't see what HBOS shouldn't do the same.

[Bookworm]

Reidyyyyy!!! There's a blast from the past! I'm ok, still tilting my lance at windmills.

[Bookworm]

Ah it's all right, at this time of the year they'll think you're out trick or treating, lol.

[Bookworm]

Sigs, you are correct that they CAN change the T&Cs, what they CAN'T do is force you to accept them. If you don't, then you part company. At that point however, they CAN'T force you in an adverse position, they MUSTN'T force you to take on additional borrowing to pay off the debt and they MUST come to an arrangement that will work for YOU.

 

We MUST stop thinking like victims. The bank has only has as much power as we allow it to have. If they only want you as a cashcow and you'll end up worse off than ever, where is the balance in that relationship? What's in it for you? What loyalty do you owe them? Answer: None whatsoever.

 

Yes, it is inconvenient for us all to move and start elsewhere, we all like our routine, and it's time and energy spent we could all do without. But the choice is pay up or get out. So when you get out, make sure it doesn't end up costing YOU huge amounts for them to get rid of you.

[Bookworm]

You just say you've changed your mind and don't want the overdraft anymore. ;-)

[Bookworm]

Well, I maxed my o/d with Barclays to get rid of them. Here's the none-too-subtle letter I am sending to them:

 

Dear Sir/Madam,

 

Re: [account details]

 

We have today paid off the overdraft on the above account, please close it immediately.

 

We have no wish to be part of the iniquitous system you are imposing from December 6th on people unfortunate enough to need an overdraft and unable to move away from you.

 

Your behaviour is disgraceful. At a time when the taxpayers have been bailing you out every which way, to then try and squeeze more profits out of those very same taxpayers is nothing short of despicable.

 

It is with the greatest pleasure that we part company with the lowest of the low that you represent. Leeches at least stop sucking once they’re full, you have no such grace.

 

In disgust,

 

Mr & Mrs Bookie

 

 

About the template replies, keep at 'em and say that they haven't addressed your concerns, and in particular how THEY propose to let you pay off your overdraft at no detriment to yourself, as you MUST repeat that you do not accept those new T&Cs.

[Bookworm]

I understand that. I don't think for one minute that they will do anything about it. The point is as long as you keep on telling them you do not accept those T&Cs but you can't just up and leave and what do they propose to do about it?, it puts them in a delicate position should they start hassling you.

 

Everyone, don't just sit there waiting for HBOS to behave decently, they have already shown they have no shame.

 

Move your account elsewhere, then deal with the o/draft as you would any other unsecured, bottom of them all debt. Repay it at £1 a week if that is all that you can afford. And KEEP TRACK of those £1 charges because you will be reclaiming them soon enough. If you have a small o/d and you can pay it off, once by your calculations you have repaid what you actually owe and the only thing left in the o/d is their charges, stop paying and let them try to pursue you for them, that should be fun, I'd like to see them explaining to a judge that well, the defendant DID say he didn't accept those T&Cs, DID say that he couldntr' afford to repay it all in one go and tried to reach an agreement, but we just went ahead and applied the charges all the same. Yes, that overdraft is now solely constituted of those charges levied under those T&Cs he didn't accept. Errr...

[Bookworm]

Well done, Chris. You really ARE cool.

[Bookworm]

the ulitmate reward account by halifax has free £100 overdraft, although you pay 12.50 amonth fee

So that would work out at £125 a year to get an o/d of £100? Ouch!

[Bookworm]

It must be a bit annoying for them really... If you say you don't accept the new T&Cs, they have to write back and say "ok, then you need to close your account", at which point you say "I can't do it in one go, what arrangements can we come to?" and then they really have a problem.

 

I do feel a tad smug, I have to admit. They relied on people being trapped whether they wanted to or not and now they're having to deal with, well, us. It does please me immensely to place yet another grain of sand in their machinery.

[Bookworm]

I did finish them a while back, check #46 for link.

[Bookworm]

ignoring the feelings of people, ignoring their sufferings, all together ignoring that they are in those jobs because we have paid their salaries...To add that on top of which they got the bonusses from ripping us all off by opening ghost accounts and who knows what else they have done for so many years.

All of which is very much the hallmarks of a capitalist system, actually.

[Bookworm]

Well, I got the "sorry you have had cause to complain, we're investigating" letter today... What part of "CLOSE my account" don't they understand?

[Bookworm]

Yes, pay it into your account until such time they might flog it off to a DCA, in which case you can tell the DCA to sod off, lol.

 

Received my template letter too, with a slight variation about sending my chequebook and cards if I do decide to close the account (what part of "CLOSE THE ACCOUNT" is SO difficult to understand? )

 

I'm not on CAG much at the moment and it's going to get worse in the run-up to xmas, so if you need urgent replies, please don't ask me, I can't promise when I'd get round to answering!

 

Keep fighting!