Over heard in the bank today.
The woman in the queue in front of us had gone in to find out why she hadÂ receivedÂ a letter telling her that her account was overdrawn even though she was no longer using it. She had moved her account to another bank but as it turned out for some reason when she had used Paypal the money had been deducted from this account instead of her new account. This had resulted in around Â£150 being taken out of her account.
Now given that there was no money in the account, nor had any regular payments been made into it, the bank had still authorised each of the transactions as and when they had come in. Given that we live in a world that is controlled by computers I can’t understand why banks continue to allow money to be removed from an account that has a negative balance or maybe this might explain it…..
As well as the Â£150 that had been withdrawn by Paypal from an account that had no money in it there was also the small matter of the Â£250 the bank had added in fees because she had withdrawn money from the account – that’s a nice little earner isn’t it no wonder they can afford to pay themselves huge bonuses – Â£250 for allowing transactions to go through that shouldn’t have.
The poor woman had suddenly found herself Â£400 overdrawn on an account that she was no longer using.
This happened to us a few years ago. We closed our joint account and paid off the outstanding overdraft. Only it turned out that the bank hadn’t closed it and had then added an interest charge which caused the account to go overdrawn and then they added a charge which then made it more overdrawn. So the next month they added another fee and another the month after until we got a letter telling us we were a couple of hundred pounds overdrawn,
Now we got the charges refunded and I think the poor girl in the bank did too but I wonder how many people aren’t so lucky and how much banks make from these little scams?
And they wonder why people hate them!