Help! Abbey reclaiming my overdraft-where do i stand?

moneymadman

Hi guys, woke up this morning planning my Sunday when i checked my internet banking and noticed my overdraft was halved. I have a graduate account, overdraft was £1900 but now as of 01/09 its going down to £1000.
i didnt recieve any notification of this, my balance was -1200 leaving me with £700 left but now Abbey say my overdraft is now £1000 and i owe them £200. I have no issue with paying it back, but surely they cant just half it with no notice and would rather just step it back a couple hundred pounds every few months.

I have direct debits, standing orders and bills to pay but now the Abbey have taken all my money without notice!
Is there anything in anyones opinion i can do?!

Thanks

fionam11

I've had that problem today also, only they have completely removed my overdraft of £1800 and swallowed up all of my salary for this month, which only went into the account on Friday afternoon. I have spoken to 3 very unhelpful people in one of their call centres this morning only to be told that they can't help me and I need to speak to their collections department which is closed. Oh but wait, they can offer me a very competitive rate on a loan! As if I would consider doing business with them again after their attitude this morning.

I have received no notification that this would happen and the only correspondance I have received is my ususal statement:mad: :mad:

chuckley

it seems a few are cuttin grad accounts short without notice, first HSBC, now abbey...

pcyam

moneymadman and fionam11, if you go to the branch they can appeal it for you. Unfortunately, you may not get an answer for you. If the appeal goes to the underwriters you may have to wait a few days-sorry I know it doesnt help you initially. If you ring the call centre they generally tell you to go to the branch. HTHs

[Deleted User]

Exactly the same thing happened to my OH a year ago. His overdraft was at £550 and they cancelled it completely, leaving him overdrawn and his remaining wages were just swallowed up, leaving us with nothing! We rang and complained, even in branch but to no avail. Nothing could be done, no overdraft re-instated and no loans offered, basically told 'tough' - oh and they charged us for the privelidge!!! He was charged for being overdrawn and for going over his overdraft limit, even though they were the ones that made him go over!!!
He left abbey.

Then a month ago Abbey go and do the same with my overdraft, reducing it from £1000 to £500 with no notice. I was £500 over my overdraft limit and was told to pay up asap to bring myself within my limit. Luckily I could, but had a hassle getting charges dropped. Am now paying off the overdraft as soon as I can and closing the account!

fionam11

I eventually got sorted with Abbey. I went in and spoke to my local branch manager last Thursday, who spoke to collections on my behalf first of all and then sat in while I talked to them on the phone.

They agreed to reinstate my overdraft but only if I agreed to pay it back at £75 a month over 2 years. With no other real option I agreed and they said they would reinstate my overdraft on Tuesday of this week (i.e. 9th Sept). When I told them this wasn't good enough, because they had effectively cleaned out my account and my salary for the month, they agreed to put a temporary overdraft on the account that would last untill the 10th September untill my graduate overdraft kicked in this week. I went to the ATM tonight to withdraw money, only to discover the overdraft is gone again!!!!!!! I am so sick and tired of all this hassle! So it's in to see the branch manager for me again tomorrow! I wish I had lifted all the money from the account when they re-instated it last week, so that I wouldn't be left in this position again!:mad: :mad: