Are you angered by banks’ sneaky charges and penalties? Well, then this article will be right up your street - Times online has reported two different examples where two major banks have levied unacceptable charges on some of their customers. In particular, two different types of customers - a small-business owner and a mortgage holder - have documented their terrible experiences with HSBC and Barclays.
This comes in the same week as yours truly received a £20 penalty fee for not reading the available balance and instead making the ‘huge mistake’ of spending what’s actually in his account.
Peter Reeve, 55, from Flitwick in Bedfordshire, faced ‘worry and aggravation’ when HSBC raised the interest rate on his overdrawn business account. Mr Reeve’s company would sometimes take up to 18 months to be paid for jobs and so the overdraft facility was important. Reeve switched to NatWest, but saw his personal account which he kept at HSBC face a new overdraft rate of 19.9%, up from 9.9%. He was told this was because there wasn’t enough money going into his accounts.
Surely stories like this are not what we want to hear when we need small businesses the most.
Sally Houghton got in a dispute with Barclays after she took out a mortgage with them for a new house in Bedfordshire, and she was sure she set up a mortgage protection plan. However, a year later when she was unable to work, she tried to claim for the plan, only to be told that it did not exist. Despite sending photocopies of the agreement to Barclays, it did not acknowledge the plan until this year. Ms Houghton was forced to carry on working despite her deteriorating health, and is planning legal action to claim for loss of earnings.
Are you finding that penalties are building up? Do you risk incurring steeper charges and penalties unless you pay off the fines that you are facing at the moment? Well, if this is the case then it might be time that you started considering taking out a payday loan from us here at www.247Moneybox.com and then relax knowing you have the cash to prevent your unexpected costs from increasing exponentially until you can pay.