Overdrawn on a Non-Overdrawn account

TheKeyMaker

I have a CashSaver account with cooperative bank (lower than CashMinder), which I use mostly for online transactions; comes with Visa Electron, but no suppose to be overdrawn at all
Last week paid a few items on the Internet and need £30, which I did withdraw at the cash point. Yesterday I checked my balance and shows £25 overdrawn. I have this account for 5 years and never manage to go down once.
Will I be charged for that, even if for this account no suppose to be never an unauthorized overdraft? How could this happen?

skyrider007

I think you will be charged, however if that was your first offense then the bank may let you get away if you ask nicely.

TheKeyMaker

The point I’m try to make is that the bank have told me that with this account was not possible to be withdrawn, as it says in T&C: “You may not overdraw or borrow on your account"
They don’t even mention what will happen in case if the account gets overdrawn, and I always though that it was technically not possible to go down

storminbalder

It is always possible to go overdrawn on any current account, even a basic one. I have found this out to my own possible cost. I have a Yorkshire Bank Ready Cash account, and it comes with a Maestro card. I paid for a National Express ticket and they never took the money from me for a week. By the time they did, of course I'd forgotten and it took me overdrawn for a day.

Yorkshire haven't applied a charge though.

YET!

ShelfStacker_3

TheKeyMaker wrote: »

The point I’m try to make is that the bank have told me that with this account was not possible to be withdrawn, as it says in T&C: “You may not overdraw or borrow on your account"

Note the use of "may not" rather than "can not" - i.e. they will let you go overdrawn, and it's possible, but you shouldn't.

If it's a first offence, as skyrider says, they may waive the fee; but note that the Co-Op operate a three strikes and you're out policy, so don't do it from now on. It may also be worth trying to get an account elsewhere that allows an overdraft facility or has a buffer zone on it; HSBC and Barclays are two banks that won't charge if you're overdrawn below a certain amount, and if you provide proof of income/recent bank statements I've found the former to be quite amenable.

So.Sad_2

You probably will :-( I'm overdrawn too...

latecomer

Best thing to do is get on the phone and ask. Say that you dont understand how it happened as you thought it wasn't allowed with this account and stress that was why you opened it. Point out your history with them and ask if it can be refunded as a first offence. Make sure you dont do it again and as Shelfstacker says it might be worth looking at another account which has a small overdraft.

littlewren

I had this a few weeks ago with NatWest, I made a silly mistake with my sums and was overdrawn by 99p for one day. They sent me a letter charging me £25 for unauthorised overdraft. After posting on this forum and being advised to apologise to them, saying it was the first time I'd done it etc. they e-mailed me back to say that as it was the first time they would let me off (as skyrider confirmed) but they warned me they wouldn't next time! So try sending them a nice letter/e-mail or going to their branch and apologising profusely, hopefully they will let you off. Good luck!