I went over my balance by €150 for 3 days on my Société Générale account and got a bill for really high overdraft fees. Is it normal that it costs that much now? Is there a way to negotiate with the bank to reduce these fees?
It really depends on your account agreement, but generally it's a combo of fixed daily fees plus debit interest calculated on the €150. To negotiate, contact your branch directly or customer service and explain it's your first time - a lot of banks cancel or reduce the fees as an exception if you have a good history. Otherwise, ask to see the exact fee schedule to check they actually applied what was supposed to happen, sometimes there are mistakes.
Banks generally calculate it with a fixed daily fee for each day you're overdrawn plus interest on the amount over the limit, and Société Générale applies its own rates that can be pretty aggressive. After 3 days on 150€, it's no wonder the bill stings, especially since the fees pile up fast. You can absolutely call your bank and ask for a reduction, especially if it's your first time or you've got a good history with them - advisors often have some wiggle room to negotiate, you just gotta be nice about it and explain your situation. Otherwise, you can also compare with other banks that charge lower fees and threaten to switch accounts, sometimes that pushes the advisor to be more flexible.
I got hit with 80 bucks in fees once for 5 days of overdraft, it was insane. At Société Générale like anywhere else, they usually charge you something per day (like 5-8€) plus interest on the 150€, it all depends on your exact account terms. The best thing to do is really just call your branch directly and ask them to cancel it or reduce it if it's your first time - a lot of people just give up and pay, but honestly advisors can cut you a break, especially if you've got a good history with them.
To be honest, the amounts they're quoting you there are pretty much on the low end. Société Générale combines several things: fixed fees per day (usually around 5-8€ yeah), but also debit interest calculated daily on the 150€, and honestly it adds up quick when you tally it all up over 3 days. What's important to know is that you can really negotiate directly with your branch - not just over the phone, but by going in person with your account statement. They have some flexibility to adjust or cancel part of the fees if it's your first time or if you have a good relationship with them, especially if you explain it was an oversight. Honestly it's worth trying before you pay, the worst they can say is no.
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