Interest Charged

Hi Folks,

This is a copy of my bank account which I opened in March 2004.
Can anyone tell me if the Interest I am being charged is correct? I have tried to contact the bank but the person who deals with this is never in!!

Thanks A Lot
Lapxp


Description Pay/Out Pay/In Balance
1/3/04 Bal Forward 0
8/3/04 CHK BK Duty 3.75 -3.75
8/6/04 XXX Online 775
8/6/04 XXX DD 768.69 2.56
25/6/04 INTEREST 7.61 -5.05
5/7/04 Lodgment 1200.00 1194.95
7/7/04 XXX DD 482.75 712.20
9/8/04 XXX DD 482.75 229.45
13/8/04 XXX Online 586.00 815.45
7/9/04 XXX DD 482.75 332.70
24/9/04 INTEREST 5.07
CA Fees 1.68 325.95
07/10/04 XXX DD 482.75 -156.80
14/10 XXX Online 600.00 443.20

Sorry folks, that statment didnt copy as well as i thought it would.

Basically I opened the account in March, paid €3.75 in Chq Book charge, then lodged €775 on 8th June and then €768.69 was taken out the same day, leaving a balance of €2.56 in the account
Then I was charged €7.61 in Interest !!!
Can anyone tell me is this correct?
Also happend again on 24th Sept when I was charged €5.07 in Interest, even though my account was always in credit.

Thanks for any help.
Lapxp

They look as if they're charging a flat fee of around €5 if your overdrawn. The reason for the second one was that the interest payment made you overdrawn. Read the terms and conditions to see if there's an explanation there for the overdrawn. They probably put it down as interest. Don't accept the fob off and write them a letter or go in and see them personally and tell them you will vote with your feet unless you get a proper explanation. Make sure you move then if you still feel strongly about it.

Thanks Elcato,

I presumed Interest was charged as a percentage of how much you are overdrawn.
I will hound them until I get an answer and leave if im not happy.

Rgds
Lapxp

Don't forget to let us know how you got on.