where has my overdraft gone?!

imog

i have a 1000 pound overdraft on my natwest current account. I had exceeded this amount by a couple of hundred pounds and have paid the charges necessary.

yesterday my balance was -934.00, still within my borrowing limit.
a relative put 1110.00 into my account.
today having checked my online banking it seems the bank has taken the full amount to pay off my overdraft and I am left with 200 pounds or so.
But they havent put my overdraft back even though its all been paid off....whats going on????

LilacPixie

looks like theyhave removed your overdraft facility.

di3004

imog wrote: »

i have a 1000 pound overdraft on my natwest current account. I had exceeded this amount by a couple of hundred pounds and have paid the charges necessary.

yesterday my balance was -934.00, still within my borrowing limit.
a relative put 1110.00 into my account.
today having checked my online banking it seems the bank has taken the full amount to pay off my overdraft and I am left with 200 pounds or so.
But they havent put my overdraft back even though its all been paid off....whats going on????

Hi there
I do know they normally send review letters in advance or supposed to have done, in order to either update or let you know in notice that this will either be removed, decreased or if you would like it increased to a certain level.

I take it you have not received a letter then hun?

Give them a ring if its a facility you need a little longer.

However I do know when the overdraft is arranged from the start it should state on your statements for how long that amount of overdraft will run to, for example a year.
Contact them hun, there's a possibility they have sent out a letter but you have not received it.

Good luck.;)

minimike2

It is very possible that your facility has been removed as a result of it being cleared following exceeding the limit.

The bank is perfectly within its rights to do this and unfortunately has been happening to many people over the past year due to teh credit crunch - they dont want to lend the money to you anymore.

You should call the bank to confirm, but dont expect them to give you back your limit.

Ilian2008

Unfortunately as i have found to my detriment, the overdraft can be pulled at any time and is repayable on demand. I had a problem with HSBC and extortionate penalty charges putting me over my limit all the time. I changed banks to Natwest