Comments on: American Banking v. English Banking http://www.fivepencepiece.com/2009/10/american-banking-v-english-banking/ A British Man's Take on Debt, Saving & Investing Sat, 14 Nov 2009 14:08:36 +0000 http://wordpress.org/?v=2.9 hourly 1 By: Leehttp://www.fivepencepiece.com/2009/10/american-banking-v-english-banking/comment-page-1/#comment-438 Lee Wed, 21 Oct 2009 16:28:59 +0000 http://www.fivepencepiece.com/?p=842#comment-438 Hey fwisp, welcome.Interesting points, thanks for filling in my knowledge. It seems our "approved/arranged overdraft" is the same as your "protection/plus" just with different terminology.We get foreign (country!) ATM fees which is what I first thought a blogger meant when I saw it, but I later learned he meant foreign as in 'not my bank'.Lee Hey fwisp, welcome.

Interesting points, thanks for filling in my knowledge. It seems our “approved/arranged overdraft” is the same as your “protection/plus” just with different terminology.

We get foreign (country!) ATM fees which is what I first thought a blogger meant when I saw it, but I later learned he meant foreign as in ‘not my bank’.

Lee

]]> By: fwisphttp://www.fivepencepiece.com/2009/10/american-banking-v-english-banking/comment-page-1/#comment-437 fwisp Wed, 21 Oct 2009 16:16:54 +0000 http://www.fivepencepiece.com/?p=842#comment-437 To me it appears that all fees equal out between US & UK. As far as overdraft fees, banks here usually would charge per overdraft transaction anywhere from $30 to $40. That it is if you don't have an "overdraft protection account". CitiBank for example offers Checking Plus which is pretty much a credit line in addition to your checking account which is used when there you don't have funds available. They charge interest and recently they also started charging a transfer fee ($10 I think) if they are doing the Checking to Checking Plus funds transfer for you (or you can do it yourself online prior to the transaction and avoid that fee). ATM fees are refunded back by some banks, like TDBank. Others still charge foreign ATM fees and the ATM company will also charge you anywhere from $2 to $4 per transaction. As far as checks I am not sure because I have not used any recently. Online bill paying works electronically in most cases, but they still do send checks to some payees who are not I guess participating in direct debiting. To me it appears that all fees equal out between US & UK. As far as overdraft fees, banks here usually would charge per overdraft transaction anywhere from $30 to $40. That it is if you don’t have an “overdraft protection account”. CitiBank for example offers Checking Plus which is pretty much a credit line in addition to your checking account which is used when there you don’t have funds available. They charge interest and recently they also started charging a transfer fee ($10 I think) if they are doing the Checking to Checking Plus funds transfer for you (or you can do it yourself online prior to the transaction and avoid that fee). ATM fees are refunded back by some banks, like TDBank. Others still charge foreign ATM fees and the ATM company will also charge you anywhere from $2 to $4 per transaction. As far as checks I am not sure because I have not used any recently. Online bill paying works electronically in most cases, but they still do send checks to some payees who are not I guess participating in direct debiting.

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