Overdraft under 18 question

tech08 · 27 May 2008 at 5:16PM

Hi there

I have sent an e-cheque over PayPal for an item but I don't have enough money in my bank account to pay for it. I knew this before-hand as I thought I had an overdraft on my account but I have just contacted NatWest and they said that I don't have an overdraft because I am under 18 but I can go overdrawn but I shouldn't do it. The total of the payment on the e-cheque I sent was £72.98 and it's expected to clear by Thursday next week, but I also have £43.05 that I am transfering from my PayPal into my bank account which it said takes about 5-7 days. So basically, will my bank allow the e-cheque of £72.98 to go through? I will be able to pay the overdrawn money back by the end of next week though, which is the reason I didn't really think that much of it. So does anyone have any idea of whether my bank will let the e-cheque go through or will they decline it?

Thanks for your help and time.

PasturesNew · 27 May 2008 at 5:18PM

Theoretically (you having no overdraft) and legally (you being under 18) they should bounce the e-cheque.

Rather than wondering, your best plan of action is to beg/borrow/steal the cash immediately and pay it directly over the counter into your bank/account to try to head this off so it doesn't happen.

CLAPTON · 27 May 2008 at 5:22PM

I would suggest you get into good habits now and not ever go overdrawn.

The bank may well be treating you like a child now but once you're 18 they will probably start slapping on charges all over the place and/or simply bouncing the cheques.

tech08 · 27 May 2008 at 5:27PM

What happens if I can't get the money and then the e-cheque bounces? Also, is there no way I can ask them to give me a temporary overdraft that will let the money go out one time and then pay them back?

Lokolo · 27 May 2008 at 5:32PM

No.

An overdraft is lending money which requires a contract. Contracts cannot be given to under 18s.

When I was under 18 my bank would let me go below a few £s but thats it.

The e-cheque will bounce unless you get the money in there.

Night-owl_6 · 27 May 2008 at 5:33PM

tech08 wrote: »

What happens if I can't get the money and then the e-cheque bounces? Also, is there no way I can ask them to give me a temporary overdraft that will let the money go out one time and then pay them back?

Natwest?!
If you go overdrawn with Natwest and are under 18 they will instantly place a block on you account, card and if you have one your cheque book, all your direct debits and standing orders will be cancelled also.
I know this because I know someone who had the same problem a few years back.
Natwest will also charge a overdrawn fee even though you have no overdraft.
I strongly recommend you contact Paypal and ask them to stop the payment and just wait until you have the funds.
You otherwise face losing your account with Natwest

BruceyBonus · 27 May 2008 at 5:34PM

If the direct debit that collects the e-cheque money from your bank account bounces, then PayPal will give you a failed direct debit fee.

Night-owl_6 · 27 May 2008 at 5:40PM

BruceyBonus wrote: »

If the direct debit that collects the e-cheque money from your bank account bounces, then PayPal will give you a failed direct debit fee.

Very well pointing this out too.
You will find yourself with problems with the bank and paypal and alot of fees and the payment wont even be made.
Stop the payment today, before it is processed; thats my advice

JimmyTheWig · 27 May 2008 at 5:41PM

Agree with PasturesNew. Can you not borrow the cash from a relative? I would like to think someone would lend you the money as you know you can pay them back a week later when the funds come in.

You will not be allowed an overdraft under 18, temporary or not.

Night-owl_6 · 27 May 2008 at 5:45PM

JimmyTheWig wrote: »

Agree with PasturesNew. Can you not borrow the cash from a relative? I would like to think someone would lend you the money as you know you can pay them back a week later when the funds come in.

You will not be allowed an overdraft under 18, temporary or not.

I dont agree with PasturesNew comment about stealing.
I think the OP being under 18 needs some examples setting, the fact is the OP will have the money but not till a few days after the payments, the OP needs to cancel the e-cheque right away and then end of the week ask for it to be processed again!
The OP will have his account blocked and maybe even closed if that payment is refused, Natwest are like that

tech08 · 27 May 2008 at 5:47PM

Can anyone provide the contact number for PayPal then please? I have tried ringing the customer service number but it's just some machine listing info about my account...it givs you options to say, would it be under claims?
Also, what do I ask them to do to cancel it and will they ask me for a reason why I am cancelling it? Or is there any way to cancel the payment/direct debit online from my account, and how many days do I have before they will try to take the money from my bank account?

Overdraft under 18 question

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