Removing Over Draft...

K9cuddles

If you put in writting that you wish for your OD to be removed in7 days and it's not... what action can you take? if any??!!

Thx

Sara

tomstickland

Phone them up.

K9cuddles

Surely putting it in writting is better? That's what they normally ask you to do!!!

tomstickland

Phone them up and ask them what's happening, have they received the letter etc.

I closed a credit card and savings account via phone a few days ago. They'll write to confirm soon.

Probably not the best time of year right now for postal responses.

K9cuddles

Well they wrote back to me regarding my refund, but made not mention regarding the O/D removal!!! Very naughty if they haven't just to make more money out of me with there outragous bank charges...

Yeah.. I'll pop in branch!! I've gotta go there anyway!!

grumbler

S_a_r_a wrote:

... Very naughty if they haven't just to make more money out of me with there outragous bank charges......!!

You cannot avoid these charges by removing the overdraft! In fact after removing the overdraft you have more chances to be charged for being overdrawn. If you are overdrawn (as a result of you mistake) within your agreed limit you pay only small interest (about 0.05% per day). If this happens when you don't have agreed limit, you pay higher interest plus charges.
The best solution is to have agreed overdraft limit and never use it on purpose. It will be your safety buffer in case of mistakes and emergencies.

K9cuddles

the charges would be no different!!! and the reason I went over my OD was due to there poxy monthly OD charge!!

So will be better of without it!!! It's not my main account so I don't need it!

Mark7799

What type of account are you referring to? If an overdraft charge caused you to go over your limit then you must have been using your overdraft in a previous month to have incurred that charge?

Tend to agree with grumbler's post - if you get the overdraft facility removed and go overdrawn again your charges will be a lot higher. If the account isn't your main account why not just shut it down?

K9cuddles

It's a current account.. they charge you £5 a month for using the OD facility! It's a rip off!! They took the £5 causing my to go £3.95 over the OD limit and then charged with £100.. yes £100 for the privilage!! If I had no OD facility there would be no charge and guess what.. I'd be £100 better off!!!

But as I said.. I just wanna know were my rights are if they don't do as I requested!! Customer rights and all that!

K9cuddles

P. s I need the account it's one of my pots!! I transfer money from my main account too it.

Plus the OD is only £50.. hardly worth worrying about anyway! I never asked for it.. they just stuck it on!

tomstickland

£5 per month, Barclays additions was like that. Bin the fee paying part and get an account with a free overdraft (but with daily interest). Also talk to them about the £100 - my sister managed to get them to halve the charges when she went over the limit.