When are interest charges shown? Monthly?

[gigs]

I'm on a barclays bank account type (aka "bba") and i've gone past the £15 buffer a few times, 3 or more days past the buffer before paying it back, but have never been charged the £0.75 a day charges on any of the days I've been past -£15.

 

As of recently I've been on for a period of 3 or more days now over the buffer to see if I would be charged the interest. This is recently though, and I could be just assuming the fees will appear at the end of the month and are not added day-by-day so they won't display on my online banking summary.

 

http://www.barclays.co.uk/CurrentAccounts/Changestooverdraftsandwaystoavoidfees/P1242663274269

 

After checking the calculator shown at the bottom page of the link above I can see I should have been charged 75p per day on numerous occasions, but never have. I'm pretty sure my bank account is just a bba too as it says "bba" in the account type in online banking. Which theoretically means I should have been charged.

 

Just wanna make sure since I want to buy something and it will cost close to the max on the overdraft before paying it back in a week and don't want a it to spiral into those £30 a day stuff going into an unauthorized OD with the 75p a day charges if they surprise you with them at the end of the month with a bulk charge. I guess I could phone them up but don't want to sound like a cheapster or tip them off to "correcting" my account status plus paying back what I "owe" them or something.

 

So anyone know? Do they add these charges at the end of the month in one big lump or are they supposed to show up trickle-by-trickle every day? Thanks in advance.

[maroondevo52]

According to Barclays........

 

Your fees will be worked out daily, based on the balance at the end of

each day. Fees will be added to your account monthly and we’ll always

let you know the cost at least 14 days before they’re charged.

[gigs]

Many thanks for the quick reply.

[maroondevo52]

Many thanks for the quick reply.

 

[slick132]

Hi Gigs,

 

I got hit with their new daily charges for going slightly o/d for a few days over several months.

 

I was not happy about this and complained via Cust'r Svs and they very kindly refunded the charges on 2 a/c's in full. Not sure if I'll get away with it again but I'll certainly try if needed.

 

They add up the charges and charge you the following month.

 

[gigs]

ok thanks. I will budget accordingly with this in mind.

 

I know I will charged for a few days because I'm over currently over -£15. However, if I do not get charged I can either be somewhat thankful, but I would still be confused why I wasn't and my original question will still apply. If anyone is interested in the results I can update in a +months time.

[gigs]

Just to bump with a related question. . .

 

In the black, so all good, still got charged just for being in my authorised overdraft though. Before it was just interest that was added, but now these are labelled as "charges" on my bank statement and are more expensive than the simple interest that was taken before.

 

Don't "charges" negatively affect your credit rating? So just using your authorized overdraft can lower your credit rating? I already used my free trial of credit checking some weeks back so don't know if it shows up as a mark against the credit rating or not.

 

Anyone know?

[slick132]

Hi Gigs,

 

Where you go slightly beyond agreed facilities and suffer charges, this should not affect your CRA files at all.