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  • FIRST POST
    obi62
    Barclays Overdraft PPI ?
    • #1
    • 8th Jul 11, 11:53 AM
    Barclays Overdraft PPI ? 8th Jul 11 at 11:53 AM
    Hi all, as a lurker of these forums for a while now, I have picked up some extremely useful titbits - for that I and many others I'm sure, are grateful. One particular posting got me thinking about my own situation with regard to my current overdraft fee on my Barclays account. To be honest, I say fee because I set it up back in mid 2007 (via the on line process) and have always considered it to be a fee with built in insurance - but, after reading about something similar on this forum, I now realise (and I know I should have realised before), this may in fact be a PPI - the cost is 80p per 100 of overdraft limit (regardless of whether the overdraft is used or not).

    With regard to potential mis-selling, I do remember the on line process would not allow me to proceed further unless I ticked the box to allow for this fee / insurance (this was because I have a 250 "fee free" overdraft in place as part of my current account). Yes, perhaps I should have just cancelled it by calling into a branch but, lesson learned, I didn't. Hindsight is such a wonderful thing.

    My question(s) if anyone can kindly assist with are:
    Does this sound like a potential mis-selling scenario ?
    If I were to start a mis-sell claim, are Barclays likely to withdraw overdraft facilities (which I know are repayable on demand if they so choose).

    Thank you for taking the time to read this, my first post, if any more info is needed, I am happy to supply it. With that, I look forward to reading any replies.

    Rgds.
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