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Referral fee gone up!

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  • 08-06-2011 10:17pm
    #1
    katy67
    Registered Users Posts: 86 ✭✭


    l'm with PTSB and today l checked my account to find l was charge 15e for referral fee. ln the past, it was 5euro and now it has gone up to 15. l was never informed about it. Last tuesday l knew l was low on funds and could not use the card until payday, yet a cheque was cashed in the bank yesterday which was more than what it was in the account.l thought you couldn't cashed the cheque unless there was enough money in the bank. Are the bank right to do this?


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    #2
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    katy67 wrote: »
    l'm with PTSB and today l checked my account to find l was charge 15e for referral fee. ln the past, it was 5euro and now it has gone up to 15. l was never informed about it. Last tuesday l knew l was low on funds and could not use the card until payday, yet a cheque was cashed in the bank yesterday which was more than what it was in the account.l thought you couldn't cashed the cheque unless there was enough money in the bank. Are the bank right to do this?

    The cheque gets presented by the person you gave the cheque to. Once they present it to the bank your bank must pay it or reject it. If you didnt have money available they may have seen your account and paid out out of good faith. This looks like the case considering you get paid into the account.

    You shouldnt be writing cheques you cant cover. Not good sense to do and also there is a case for fraud if it can be shown you knew funds wouldnt be available for payment of the cheque which you did here.

    Also the bank do not inform every customer individually of every change in terms of current account. They may have a couple of million accounts for current account. Its generally advertised in newspapers.


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    #3
    katy67
    Registered Users Posts: 86 ✭✭katy67


    chris85 wrote: »
    The cheque gets presented by the person you gave the cheque to. Once they present it to the bank your bank must pay it or reject it. If you didnt have money available they may have seen your account and paid out out of good faith. This looks like the case considering you get paid into the account.

    You shouldnt be writing cheques you cant cover. Not good sense to do and also there is a case for fraud if it can be shown you knew funds wouldnt be available for payment of the cheque which you did here.

    Also the bank do not inform every customer individually of every change in terms of current account. They may have a couple of million accounts for current account. Its generally advertised in newspapers.


    At the time of writing the cheque, there was plenty of funds in the account. l have spoken to the staff in the bank and they explained why. The cheque was cashed 1st and because what l spend over the weekend and by the the time it reached my account, l was overdrawn which l was charged 3 times per 5euro which explained why l was charged 15 euros. And top of that it was the mortgage the week before so l just got caught. But there is less money going into the account with all the cutbacks, taxes, etc, it is a struggle.


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