BANKS

partyplans replied:

I had a credit card once upon a time that I had paid off 100% (in fact, was about $5 in extra credit).

I forgot completely about the said card for months and months... until I got a letter in the mail advising me of a late payment/overdue penalty...

At some point, they had deducted a $100 annual account keeping fee, so thinking that card was more or less 'gone', I missed my minimum repayment of $10 or so, and got hit with a $30 penalty.

 (...this emoticon describes my envelope opening expression perfectly!!)

LOL.

kathymollie replied:

l had the same thing happen...was under the impression l had closed the cc account...and much to my astonishment..there was my statement saying l owed them over $300- (things like foxtel, etc..still coming out of closed cc account ) and then all those over due fees.....
l think l still owe $300- on it......don't know how that can be when you pay it off, close it. but somehow they still allow those other utilities to stack upon it....
Very frustrating indeed...BUT what am l thinking we are dealing with banks after all......!!
(Say no more......)

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kim025 replied:

The thing is, I think when you cancel a credit card you need to contact your "utilities" people to change your payment methods.  If you have set up credit card payment with them, then they actually charge the bank if they don't honour the payment method you set up. 

Can you imagine if you have private health or insurance payments coming out of your credit card and you close the account and then your house burns down, and the bank says, sorry you cancelled your credit card, and we didn't pay the insurance bill like you've arranged, you'd be suing the bank then right?  It isn't the banks job to run around after all the cancelled credit cards, making sure people have set up alternate payment methods.  If they did they'd need a dept for checking on payment methods for cancelled Credit cards, a dept for ringing people who don't have enough money in their accounts to cover direct debits.  They can't do everything.

Not having a go at anyone here, just giving you another opinon...Can you tell me DH is a Bank Manager? LOL

ExMember148 replied:

With the amount I am paying in fees, and OVER DUE fees from a CANCELLED credit card, they should be doing a hell of a lot more than they are that's for sure.

After 6 months of no payments and monthly overdue fees, someone should of woken up !!!  We haven't even received a bank statement since the card was cancelled - so we were none the wiser.  And you know what else, to this day, I am still WAITING on a phone call from someone who will HELP me with this!!! 

I think I am going to go back to the good old banking under the mattress!!! 

kim025 replied:

Have you tried calling your branch and demanding to speak to the branch manager?  Maybe he/she can shed some light into it and get things resolved a lot quicker.   Most of the time it isn't worth just speaking to a teller, go to the top and demand you get it fixed. 

I know it took me multiple phone calls, visits to branches etc when I tried to close my westpac accounts, and until I walked in and demanded to have it fixed right then and there they just couldn't get it done....

jenlerose replied:

Thats the trouble these days...( sound old don't I!  lol).  You can't speak to your friendly branch manager any more.  Our bank just has a 13 ---- number, then you have to wait to be put through to so and so who puts you through to so and so, etc, etc and then you get cut off! You can't ring your branch anymore!  Just one central number!  So no wonder the above is happening!  Mattress banking is sounding like a great option, Julie.  By the way, whats your address?  Haha - only joking!

ExMember148 replied:

More words with merchant facilities of our business bank now!!! GRRR

And spending 15minutes trying to make an appointment with our manager.  When I  do get an appointment, I am simply going in there to CANCEL all our facilities.  Don't like the service (sorry, service, no none of that).  Taking my money (and fees) elsewhere!

Hel replied:

We are currently onto our 3rd bank due to problems with the others. The first bank -" Australia's leading bank" let our Credit card be overdrawn by an unbelievable amount - several $1000, after they approved our limit increase over the phone but then apparently changed their minds as we never received a letter telling us that it was not approved after all. They denied ever offering the increase! When I questioned them as to why they allowed the moeny to come out then if it wasnt approved ( because I used the new limit to pay for car repairs and some large bills) they said it wasnt their problem and place to stop these transactions. I was then hit a staggering repayment fee. We spoke to the bank manager who said it was out of her hands and we spoke to several people in head office - one who apparently did not exist I was told!! it was a nightmare. Thankfully we found someone who helped us with this debt and we then closed all our accounts with that bank and we are sworn off credit cards for good. Why cant they give service like they did years ago??

SaucyHeaven replied:

I ran into debt once with a credit card, and the fees were rediculous! But never again. 

.

I am now with Westpac, and have two accounts on the one card.  The main account is linked to a Debit Mastercard which I can use like a credit card to pay for stuff online or over the phone, but it is using my own money.  The other attracts more interest for saving up for things or using it as a Christmas account.  Both of these accounts dont have fees other than for using the card at another banks ATM.  No monthly fees, no excess transaction fees, no internet banking fees, no phone banking fees, and no over the counter withdrawal fees.  So far it has been great!

.

Hope you have better luck soon.

Snazza replied:

Wow Lani that sounds great - what type of accounts are they as i use to be with westpac and i absolutely hate them with a passion. I am now with Bendigo bank and have so far found them to be more than fair. I didnt realize Westpac had accounts such as the ones you mention, so much for their customer service in mentioning them when i went into close my accounts for the enormous fees i had been accruing.

CustomCandles replied:

Banks are the worst people to deal with.

I did see a program just the other night about the banks charging late repayment fees and other charges.

You are well within your rights to refuse to pay these fees.  Apparently they do not have the right to charge us for these fees.  Not many people know about them, so just pay them anyway.

This program was on Today Tonight or ACA I think, I will look at their sites and see if I can find the story for you.

Sharon