Planned / Unplanned overdraft definition Wee Robbo the Jambo

#1
Hi



Been through the forum but nobody seems to have raised the issue I have.



I've had an HBOS account for a few years now, maxed out my overdraft a few times and exceeded it, thus incurring their charges. However after carefully looking at my letter acknowledging my charges etc. I seen that my 'planned overdraft limit' was £1999.99. My main issue is that I placed a personal overdraft limit on my account, which was £850.



Placing the £850 limit on the account was me trying to be prudent and not seeing all my salary disappear paying the overdraft. Due to the fact on my letters it says my limit is £1999.99 and it's a planned overdraft, their words, does that mean technically I shouldn't have been charged?



Hoping one of you lovely readers has some knowledge of this as I couldn't see anyone who had raised a similar query on the forums.



Thanks in advance.

#3
Are you sure they're not just telling you the charge bands (i.e. up to an overdrawn balance of £1999.99 you get charged X a day, over it you get charged Y)?





Because that sounds exactly like what it is.

#5



Are you sure they're not just telling you the charge bands (i.e. up to an overdrawn balance of £1999.99 you get charged X a day, over it you get charged Y)?





Because that sounds exactly like what it is.
Originally posted by JuicyJesus


That's what I assumed.





They aren't responsible for preventing overspending, but are stating an amount above which the cost will be higher. If the OP chooses a lower limit, they could be asking to be charged when they exceed just £850 of overspend.

#6



Are you sure they're not just telling you the charge bands (i.e. up to an overdrawn balance of £1999.99 you get charged X a day, over it you get charged Y)?





Because that sounds exactly like what it is.
Originally posted by JuicyJesus


Bingo.



They can only offer overdraft limits in full £s.

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