turrifield Posted May 30, 2006 Report Share Posted May 30, 2006 I've been with The Cooperative bank for a while now and find them to be resonable. The online service is good and you can do most transactions through the post office(good in rural areas). But I'm sure they will still charge me if I go over my overdraft. Quote Link to comment Share on other sites More sharing options...
Guest Anonymous Posted June 3, 2006 Report Share Posted June 3, 2006 How about the Clydesdale then,, Direct Debit due on 1st June but I didn't bother transferring money because I had a cheque to pay into that account, which I did at lunchtime on the 1st.They still refused to pay the DD, because debits are applied at the start of the banking day and credits at the end of the day, and somewhere in between an a**hole spots an excuse to charge £35.00 Quote Link to comment Share on other sites More sharing options...
Ghostrider Posted June 3, 2006 Report Share Posted June 3, 2006 Not sure if this is any help. Found it on: http://www.bacs.co.uk/BPSL/directdebit/generalpublic/faqs/ "Q. What is the Direct Debit Guarantee? A. This Guarantee is operated by all banks and building societies that take part in the Direct Debit Scheme. The efficiency and security of the Scheme is monitored and protected by your own bank or building society. If the amounts to be paid or the payment dates change, the organisation will notify you normally 10 working days in advance of your account being debited or as otherwise agreed. If an error is made by the organisation or your bank or building society, you are guaranteed a full and immediate refund from your branch of the amount paid. You can cancel a Direct Debit at any time by writing to your bank or building society. Please also send a copy of your letter to the organisation. " It's fine and well to get your money given back to you that they had no business taking in the first place. However, will your bank also pay you the interest that the missing money would have earned over the period it was not there but should have been? If taking the money in error put you overdrawn on that particular account, will they cancel/refund any and all charges they levy on you for going overdrawn through no fault of your own? Will they also pay any interest and/or late payment fees you get charged as a result of cheques that were already issued to suppliers, but bounced as a restult of the error, but would not have otherwise? Will they compensate you for any loss of early settlement discount(s) which you would have received had the error not been made, and the cheques you issued could have been cashed by their recipients, as they should have been? Regardless of which of the above they do or don't also compensate you for, there are several things that are impossible to compensate for. The loss of reputation/goodwill with your supplier who got the bounced cheque from you, and the embarrassment and inconvenience of dealing with, and rectifying that matter. Plus, the embarrassment and inconvenience if the first you learn of the error is when you try to use a Debit Card on that account in a local shop, and are refused, plus the inconvenience to you of having to make alternative arrangements to pay for things until the whole issue is resolved and they given you at least the original erronous payment back. It may be no big deal if the error is for a few pound, but something as simple as a mis-placed decimal point can turn for example a £90.00+ payment in to a £900.00+ plus one, or a £9000.00+ one, etc etc. Personally I view signing a Direct Debit as being identical to handing a book of signed blank cheques to someone. At the end of the day any recipient can, if they so choose, debit your account with any sum of their choosing at any time they like, and as often as they like, and it's up to you to prove they were wrong to do so. I don't need to live with that kind of potential grief. I only use one company who insist all payments are made using Direct Debit, they offer a good service at a cost their competitors cannot even get close to, otherwise I would avoid them as well. Their Direct Debit Mandate is charged to a Credit Card which is use dfor nothing else, and has a very low Credit Limit, if any charges appear on that card's statement I do not agree with, I refuse them, if the issuing Bank doesn't like that they can take me to court over it, so far they've always seen things my way. At least with a Credit Card any money that's misappropriated by a Direct Debit belongs to the issuing bank, it's not your money that's at risk. Quote Link to comment Share on other sites More sharing options...
BigMouth Posted June 3, 2006 Report Share Posted June 3, 2006 Personally I view signing a Direct Debit as being identical to handing a book of signed blank cheques to someone. At the end of the day any recipient can, if they so choose, debit your account with any sum of their choosing at any time they like, and as often as they like, and it's up to you to prove they were wrong to do so. I don't need to live with that kind of potential grief. Hooray Other people understand what I have been trying to convince people of for a long time!! Direct Debit should be called Dangerous Debit Quote Link to comment Share on other sites More sharing options...
Njugle Posted June 6, 2006 Report Share Posted June 6, 2006 "Computers don't blunder" as they say, but top-level management do! Anyone had any "special" loans from the Royal Bank of Scotland Quote Link to comment Share on other sites More sharing options...
MuckleJoannie Posted June 6, 2006 Report Share Posted June 6, 2006 "Computers don't blunder" as they say, but top-level management do! Anyone had any "special" loans from the Royal Bank of Scotland The computers did catch him eventually. More details on how he did ithttp://news.bbc.co.uk/1/hi/scotland/edinburgh_and_east/5053572.stm He was their manager of the month for getting so much new business Quote Link to comment Share on other sites More sharing options...
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