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RBS Cancelled Overdraft without notice
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# 1
fogy101
Old 26-02-2011, 3:10 PM
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Unhappy RBS Cancelled Overdraft without notice

Im hoping someone can help me here as i really am worried about this. I logged into my internet banking today to see if i had been paid early, thankfully i had, but it looks like my overdraft had been removed. I called the telephone banking and asked about this and they informed me that i dont have an overdraft set up on my account and that i would have to speak to my branch.

Now the thing is, this is a massive shock and a big worry for me as i have been left with no money and have bills to pay. I didnt recieve any sort of correspondance regarding this and i am getting no answers from them

Any help would be really greatfull
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# 2
jonesMUFCforever
Old 26-02-2011, 4:17 PM
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When was your overdraft renewal date?
How is your general credit rating?

An overdraft like all other means of credit is not a right - the bank has the right in the case of an overdraft to demand repayment immediately.
If they won't reinstate it you will have to try another bank to see if they will match your present overdraft.

From your posting it looks like you live in your overdraft - now may be the time to make an effort to cut down on spending and concentrate on reducing the debts.
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# 3
chambta
Old 26-02-2011, 11:27 PM
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Call the branch and ask for it to be reapplied. You should have had a facility letter with a renewal date on if the overdraft had an expiry date on. Was it applied to your account in the last year?
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# 4
vinh1000
Old 27-02-2011, 12:42 AM
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branch should help you since tb cannot see the previous one probably
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# 5
fogy101
Old 01-03-2011, 7:07 PM
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Hi all, Thanks for the replies.

I contacted my branch on Monday morning and asked about it. They have said that it was not them that had removed it and there was nothing on the system overdraft related. They said they would send a report to the lending dept for them to get in contact and have a look into this.

I just feel i am being messed about and now i am struggling as they have took my months wage plus extra in there and i have 0 now
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# 6
stclair
Old 01-03-2011, 7:13 PM
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Quote:
Originally Posted by fogy101 View Post
Hi all, Thanks for the replies.

I contacted my branch on Monday morning and asked about it. They have said that it was not them that had removed it and there was nothing on the system overdraft related. They said they would send a report to the lending dept for them to get in contact and have a look into this.

I just feel i am being messed about and now i am struggling as they have took my months wage plus extra in there and i have 0 now
Im sure lending will look into the matter for you.

I would just bare in mind that overdrafts are repayable on demand for future reference.

I know it must be a shock to the system when things like this happen.
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# 7
fogy101
Old 01-03-2011, 7:35 PM
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I do understand that they are repayable on demand, but they are supposed to send me notice of this. This they have not done
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# 8
zppp
Old 01-03-2011, 8:22 PM
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OP did you place an expiry on the overdraft facility? If you are unsure they will be able to find out on their audit trails.
Best Regards

zppp

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# 9
fogy101
Old 03-03-2011, 6:43 PM
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Ok finally found out what was problem. Was my own fault as i was struggling with the charges for going over each month and didnt keep up they took it off me. Still annoyed they didnt inform me, but hey ho.

Got another question, i got a meeting with the bank tomorrow to discuss my options as they have took the overdraft off and my full months wage gone with, so i have 0 to pay bills etc with. So i am wondering if thr bank would help me in this situation. I earn a good wage each month and can afford repayments on a loan that will be used to clear debts with RBS themselves.

Anyone had experiences like this and know if RBS would help me?
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# 10
chuckley
Old 03-03-2011, 7:08 PM
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they still need to inform you...
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# 11
fogy101
Old 03-03-2011, 7:10 PM
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They didnt send any notification that this was going to happen, so it has left me with big problems as couldnt plan for it.
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# 12
chambta
Old 03-03-2011, 8:16 PM
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Quote:
Originally Posted by fogy101 View Post
Ok finally found out what was problem. Was my own fault as i was struggling with the charges for going over each month and didnt keep up they took it off me. Still annoyed they didnt inform me, but hey ho.

Got another question, i got a meeting with the bank tomorrow to discuss my options as they have took the overdraft off and my full months wage gone with, so i have 0 to pay bills etc with. So i am wondering if thr bank would help me in this situation. I earn a good wage each month and can afford repayments on a loan that will be used to clear debts with RBS themselves.

Anyone had experiences like this and know if RBS would help me?
My concern would be that the effects of the overdraft being removed would be a loan being declined.
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# 13
yummum24
Old 04-03-2011, 10:18 AM
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It's a shame this has happened, but most banks should be able to affer you some sort of re payment plan on the bank account itself without the need for a loan. Ask if they will do a reducing overdraft or monthy re payment scheme. the reducing overdraft is probably the best option as you can still then use the account whilst paying back the overdraft. good luck!
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# 14
Pinkruth
Old 04-03-2011, 10:36 AM
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When you have your meeting you need to tell them they should have notified you they were going to this. My fear is they will probably be a little reluctant to give you a loan as they have just taken your overdraft away as you were struggling with it.

Good luck, hope you sort it out as it is a little harsh to leave you with nothing, but they are a business and trying to protect themselves.
I am a bankruptcy survivour (10 years ago). It does get easier.

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# 15
sophia-abigail-mummy
Old 05-03-2011, 9:08 PM
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Hi, I had this happen nearly a year ago now wages had just gone in and they took OD away without notice leaving me with nothing. I phoned them and said there was no way i would be able to get through a month without my wages and is there anything they can do they agreed to reinstate OD with a reducing overdraft, reducing it by 100 a month. It gave me the kick up to bum to tighten belt and clear debts I cleared OD within six months.
I rang the bank to stop the reducing facility as now cleared which they did but then two weeks later then send a letter saying they are reinstating OD permantly to 1500, 200 more than before. (how stupid is that I now dont ever use it)
HTH
Clare
Two months minimum bills 57%

Debt total April 2010 7962.28 DEBT FREE March 2012 100% cleared
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