🚀 go-pugleaf

instinctsetfree@lycos.com wrote:
> I recently "went over" my overdraft "limit" by a few pounds and Natwest
> pounced on me with a charge of £28. This seems unbelievable to me. An
> overdraft limit should be just that but the banks pay a few pounds out
> of your acount when their is insuffient funds and then charge you £28!
>
> I asked the bank if they could make my overdraft limit more of a limit
> to prevent to prevent this happening in the future because to charge
> £28 it must have been a great inconvenience to the bank, and the reply
> was if someone tries to charge my account and there is not enough cash
> there the bank takes £38 from me for me not having enough money to pay
> the original person.
>
> I am currently choosing a new bank based on bank charges and am looking
> long term for an alternative to these high street thieves.

.
Maybe this is pertinent?
AIUI my bank will charge an OD amount on my chequing acct. to my
standing line of credit automatically without additional charge IF I
have previously made arrangements to do so. And of course my LOC has to
be 'in good standing'!
However I seem to have found that out almost by accident, the bank
never told me! And since I've luckily never been in OD the question had
previously never occurred to me, cos I have the time, now retired,  to
'ride herd' on expenditures rather carefully.
But otherwise I might have to pay a fee (probably some $30+ Canadian!)
and/or high interest (like a cash advance) from the moment that the OD
occurs.
And I just checked that with 'My bank' and it doesn't reassure me! Any
OD would cost me 21% per annum. So it would still be up to me to take
control of moving funds from savings or LOC to defray the OD!
I've been with that bank btw since 1956. But don't expect any mercy;
thus loyalty goes out the window.
Terry