Surely if they take away your overdraft, you cant spend more than is in your account?
I don't understand what the problem is.
Your wife presumably will only pay excess charges if she becomes overdrawn. Perhaps by a direct debit or standing order that the Bank honour? So the answer is not to become overdrawn. Then there are no charges?
What are we missing here?
mf
Dieter, when an OD facility is withdrawn the Bank requires a client to maintain an account in credit. This is the responsibility of the client. When an item is presented that is in excess of the balance on the account the Bank (at it's option) can either pay the item or return it unpaid. Both will involve charges (ask to see a copy of the Bank's schedule of charges to understand those applicable).How do you cancel the ability to have an unauthorized overdraft? Surely if you take away someones overdraft, you cant then hit them with higher fees for going back into it (because it doesnt exist)
I would have thought, if AIB are going to cancel the overdraft, that you could not then withdraw or go over whats in the account.
Its fine MF1, if you are know exactly every second what is in your account.
Think of it as a "tolerance limit". You are correct, OD's are not monitored individually. however the Bank does input what is known as a tolerance limit for clients with satisfactory track records (Yes. These limits should not attract fees etc, but they do!). The bank will allow the client to overdraw within that limit, but charge a fee for this. Alternatively the Bank could return the item unpaid, but a higher fee plus inconvience would be caused by this.I cannot believe that a Bank (electronically) has a grey area of whether they pay these transactions or not. Does a staff member monitor each of these transactions? I doubt it, in fact, I'm 100% sure that they dont.
I prefer to withdraw cash sums rather than use the laser cards, much easir to keep track of your spending, once my purse is empty that's it)
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