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    • thisisalasdair
    • By thisisalasdair 16th Mar 17, 11:50 AM
    • 9Posts
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    thisisalasdair
    Overdraft charges & eligibility
    • #1
    • 16th Mar 17, 11:50 AM
    Overdraft charges & eligibility 16th Mar 17 at 11:50 AM
    Hello all,

    I paid off a £1,000 Nationwide overdraft (which I used up every month) with my pay at the end of December and January as part of my debt free plans. I then cancelled the overdraft so I would't go into the red again. Just yesterday (March 15) Nationwide charged me another 'Daily Arranged Overdraft Usage Fee' even though I've not had this since January 31. This looks like a mistake to me. What do people think? Surely the last fee would have been taken in February for January?

    Nationwide now say they wouldn't provide me with an overdraft at present: "after careful assessment of your personal financial circumstances". This has me scratching my head as I voluntarily decided to pay off the overdraft. I've also been paying down a credit card I have with them.

    Can anyone share any wisdom?

    All help appreciated.
Page 1
    • jimjames
    • By jimjames 16th Mar 17, 1:17 PM
    • 12,021 Posts
    • 10,462 Thanks
    jimjames
    • #2
    • 16th Mar 17, 1:17 PM
    • #2
    • 16th Mar 17, 1:17 PM
    Hello all,

    I paid off a £1,000 Nationwide overdraft (which I used up every month) with my pay at the end of December and January as part of my debt free plans. I then cancelled the overdraft so I would't go into the red again. Just yesterday (March 15) Nationwide charged me another 'Daily Arranged Overdraft Usage Fee' even though I've not had this since January 31. This looks like a mistake to me. What do people think? Surely the last fee would have been taken in February for January?
    Originally posted by thisisalasdair
    When are fees applied? If it's a month then it might be correct, notify in Feb, deduct in March.

    Nationwide now say they wouldn't provide me with an overdraft at present: "after careful assessment of your personal financial circumstances". This has me scratching my head as I voluntarily decided to pay off the overdraft. I've also been paying down a credit card I have with them.
    Originally posted by thisisalasdair
    Have you asked for another overdraft? What triggered them to send that message, it's not one they've ever sent me?
    Remember the saying: if it looks too good to be true it almost certainly is.
    • thisisalasdair
    • By thisisalasdair 16th Mar 17, 2:30 PM
    • 9 Posts
    • 2 Thanks
    thisisalasdair
    • #3
    • 16th Mar 17, 2:30 PM
    • #3
    • 16th Mar 17, 2:30 PM
    Thanks for your response.

    Yes, fees are monthly. It just seems out of step with usual way banks charge.

    Re: I clicked on the overdraft button on my phone app. I'm not looking to have this reinstated but the 'warning' notice appeared. Nationwide didn't say I could no longer have an OD, I chose to shut it down.
    • meer53
    • By meer53 16th Mar 17, 3:24 PM
    • 8,839 Posts
    • 12,820 Thanks
    meer53
    • #4
    • 16th Mar 17, 3:24 PM
    • #4
    • 16th Mar 17, 3:24 PM
    Removing an overdraft is assessed in the same way as increasing one so the message was probably in response to you removing it.
    • grumbler
    • By grumbler 16th Mar 17, 9:58 PM
    • 51,388 Posts
    • 21,755 Thanks
    grumbler
    • #5
    • 16th Mar 17, 9:58 PM
    • #5
    • 16th Mar 17, 9:58 PM
    ...I then cancelled the overdraft so I would't go into the red again. ....
    Originally posted by thisisalasdair
    Wouldn't or couldn't?
    Beware that cancelling it doesn't stop you from getting overdraw, but will just make this more expensive.
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
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