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    I've been with my bank, First Direct, for three or four years now. In late January, I received a letter from them telling me that they had reviewed my overdraft (I'm sure that this letter said the review was annual - though I can't guarantee that now), and that this review, resulting in my overdraft staying exactly the same, had cost me £25.

    I wasn't sure about what I was reading at the time, as it seemed ridiculous, but a few weeks later the money went from my account and I resigned myself to the fact that I could expect an annual charge of £25 - something that I could be prepared for even if I didn't agree with paying for the privilege of the review at all.

    I've just returned home to find a letter from my bank today, stating that they've reviewed my overdraft again and that 'all formal overdraft facilities now last for a maximum of 12 months'. Essentially, they'll be taking £25 off me again at the start of August, without giving me even a full month to find the spare money (the same issue as last time), because I've had more than one review in less than six months.

    Obviously I'm massively annoyed - what the bank are essentially saying is that they can take £25 off me at any time, as it pleases them, with two weeks' notice, under the pretence of reviewing my overdraft limit. Problem is, I don't feel like I can do a thing about it - for a start, I'm very OCD-minded and budget conscious, so I have nine bank accounts to organise my money and wouldn't want to go back to having a smaller number since this system works for me. Perhaps worse though, is that I can't GET bank accounts with any other bank because I have a bad credit rating (though I can't work out why!).

    For the above reasons, I'm not sure why I'm posting - perhaps just to rant and see if anyone else has a similar situation with their bank, or if you're with First Direct and experiencing the same problems?
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    Charging £25 to review your account seems very unfair.

    I should make a post on Martin Lewis's Forum - perhaps he will take up your cause.

    http://forums.moneysavingexpert.com/


    Martin has some advice

    http://www.moneysavingexpert.com/banking/first-direct

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    I managed to have a discussion online with someone from Natwest, and they've promised me I can have the stupidly high number of accounts I want and have let me have a savings and a current account to start with, so I've been able to switch banks.
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    (Original post by cpj1987)
    I managed to have a discussion online with someone from Natwest, and they've promised me I can have the stupidly high number of accounts I want and have let me have a savings and a current account to start with, so I've been able to switch banks.
    Well done. Don't let the banks get away with it.

    I want to see some bankers in prison!
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    (Original post by steve2005)
    Well done. Don't let the banks get away with it.

    I want to see some bankers in prison!
    Hehe, thanks. Just grateful I can get what I need elsewhere. I'd established myself with First Direct over the years and didn't think any other bank would offer me as much as I wanted.
    It's a shame. First Direct were such a good bank when they started, but I'll be glad to get away now. Just need to wait a while, set up all those accounts, and get transferring...
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    Have you spoken to someone at FD? I've never heard of a bank charging for an overdraft review and getting charged £25 a go is unfair. It's something that should be easily reversed.
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    9 bank accounts - all with FD?

    Why dont you just have 1 bank acount (or a couple) and roganise your money on a spreadsheet?
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    (Original post by mikeyT)
    Have you spoken to someone at FD? I've never heard of a bank charging for an overdraft review and getting charged £25 a go is unfair. It's something that should be easily reversed.
    After I realised what they'd done the first time, I contacted them then. I remember that the woman just said it was 'policy', though I'm sure at the time I was told it was an annual review, not a 'whenever-we-feel-like-it' one. Perhaps I wouldn't mind so much if it changed, but for them to charge me £25 for nothing at all...
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    (Original post by Clubber Lang)
    9 bank accounts - all with FD?

    Why dont you just have 1 bank acount (or a couple) and roganise your money on a spreadsheet?
    Of course I do use spreadsheets, but also like to have my money separated completely. It helps me really keep track.
 
 
 

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