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Advice on Dealing with Barclays?
Slinky1978
Posts: 1 Newbie
Hi,
I am new here so please be gentle!
After having a child my wife and I decided to do a complete overhaul of our finances. On reflection I wish we done this years ago.
We have got into a mess with Barclays and our overdraft (We have claimed all our charges back and are awaiting the results of the test case). It became clear that Barclays had no intention of stopping us taking money from the account. In the end I decided to move my account to one which I will manage better.
I wrote to Barclays for assistance with this debt as £22 charges every 5 days was taking its toll. I stated I take some responsibility for not managing my finances better, for which I am ashamed however I put it them that that we agreed and overdraft limit which they (in my opinion) broke. The response I got to this was:
“The Bank does, at its own discretion, allow our customers to exceed their overdraft limit. This is to prevent any embarrassment to our customers when purchasing goods and services if funds are not available. However, it is ultimately the customer’s responsibility to monitor their account and to ensure that funds are available in their account to cover transactions.”
I have now removed the Reserve Usage Fee from my account but I also have OD protection. In my letter I asked if the OD Protection could be removed, the charges stopped and the account fee stopped. None of this was addressed in their response and they asked me to call a number to set up a Balance Reduction Plan.
When I called they tried to get me to find someone to pay the debt for me if I couldn’t. They then asked me to pay fixed sum of money until the account was within the overdraft or call back with all my financial details to set up a payment plan.
A friend has advised I should ask them to increase my overdraft to the current balance (there should be no problem with a Credit score as they have already given me the money). This way the charges stop and I can see the balance fall as currently there is more going out than In as they are charging me £170 a month on Account fees, OD Protection, Charges and interest. I plan to discus the OD Protection and Account Fee next week with the Bank and have this removed.
My questions to the good people of this site are:
1. What do you think of the request, is it likely they will agree?
2. Can I claim OD protection as miss sold as I have never knowingly agreed to it or recall signing any papers for it?
3. What is the opinion of people on the statement from Barclays on allowing customers to exceed their OD limits?
Any thoughts and comments welcome.
Slinky
I am new here so please be gentle!
After having a child my wife and I decided to do a complete overhaul of our finances. On reflection I wish we done this years ago.
We have got into a mess with Barclays and our overdraft (We have claimed all our charges back and are awaiting the results of the test case). It became clear that Barclays had no intention of stopping us taking money from the account. In the end I decided to move my account to one which I will manage better.
I wrote to Barclays for assistance with this debt as £22 charges every 5 days was taking its toll. I stated I take some responsibility for not managing my finances better, for which I am ashamed however I put it them that that we agreed and overdraft limit which they (in my opinion) broke. The response I got to this was:
“The Bank does, at its own discretion, allow our customers to exceed their overdraft limit. This is to prevent any embarrassment to our customers when purchasing goods and services if funds are not available. However, it is ultimately the customer’s responsibility to monitor their account and to ensure that funds are available in their account to cover transactions.”
I have now removed the Reserve Usage Fee from my account but I also have OD protection. In my letter I asked if the OD Protection could be removed, the charges stopped and the account fee stopped. None of this was addressed in their response and they asked me to call a number to set up a Balance Reduction Plan.
When I called they tried to get me to find someone to pay the debt for me if I couldn’t. They then asked me to pay fixed sum of money until the account was within the overdraft or call back with all my financial details to set up a payment plan.
A friend has advised I should ask them to increase my overdraft to the current balance (there should be no problem with a Credit score as they have already given me the money). This way the charges stop and I can see the balance fall as currently there is more going out than In as they are charging me £170 a month on Account fees, OD Protection, Charges and interest. I plan to discus the OD Protection and Account Fee next week with the Bank and have this removed.
My questions to the good people of this site are:
1. What do you think of the request, is it likely they will agree?
2. Can I claim OD protection as miss sold as I have never knowingly agreed to it or recall signing any papers for it?
3. What is the opinion of people on the statement from Barclays on allowing customers to exceed their OD limits?
Any thoughts and comments welcome.
Slinky
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