Excessive bank charges

[Martysip]

Hi,

I missed a couple of direct debit payments in June by a small amount, under a pound, and the Nationwide have charged me £30 per direct debit.This totals £120, and I cannot afford to pay it. I've paid the first £60, but the next £60 comes out on Friday and I have no money to cover it.

 

Is there anything I can do?

[Antiscam]

Hi there, I am another unfortunate Nationwide customer.As you have found out their moneymaking [problem] is to charge customers outrageous penalties for supposed breaches of their rules. This is the method by which your money becomes their money! If possible I would suggest cancelling what direct debits you can and pay by other means if you are so close to your limit.This would stop further charges and you then control when money is taken from your account instead of the banks .You may also want to consider opening a 'parachute' account with another bank so that Nationwide will not control your money.It might also be worth explaining your situation and trying to negotiate a solution either over the phone or at branch .If they are going to take a good portion of your income with the £60 charge I would ensure you take action to secure your money as they are going to charge your account anyway. Have you just gone over the £0.00 into the red or do have a big overdraft and gone into unauthorised territory:cry:.

[dede123]

The banks are too hard on people. When they make high risk investments and profit they get huge bonuses, and when their gambles fail they device ways to squeeze the public. I stopped my direct debit contribution to a UK charity because my bank charged me £35 failed direct debit charge. I know they don't care what the transaction is all about but what sense does it make that I was trying to do good with £5 monthly donation, and end up being charged £35 because I only have £3.48 in my account. But that was then, no bank will ever do that to me again as I am now in full control. I use a text messaging reminder service from (directdebitalerts.com) , I setup all my direct debit and payment dates, and schedule the system to send me SMS and Email reminders 2 days before my direct debit due dates, it never fails, and that helps me to make sure there is enough money in my account even if it means borrowing from someone. The service cost me only £15 per year, and it works every time

Edited August 26, 2010 by maroondevo52
Removed commercial link.