Help!! Current Account disappeared from online banking

kimdegsidash

Hello all
I'm a newbie, but lurked for a few weeks and had my LBM last week. Done a SOA, but won't attach it just yet as my circumstances are rather unique. Normally I earn enough to service my debts - which currently stand at about 21k. But I am on maternity leave at the moment and my income has dropped drastically to £400-500 per month. Thought I could manage by spending frugally and what not, but Christmas being Christmas, and having two children and a husband who doesn't work meant that my spare cash that I though I would have in January just disappeared. Did the whole head in the sand bit and didn't pay both credit cards or loan or catalogues this month that were due on 1 Jan. Anyway, kept my head in the sand hoping for a miracle which didn't happen, so on pay day I transferred most of my £450 wage accross to our joint account online, knowing that there were DDs due out of my current account that if paid would leave us with nothing to live off for the whole month of Feb. Left enough in the account to cover the mortgage. Phoned Council to tell them that I would pay CT by the end of the month. Today I went online again to check that the mortgage payment had gone out of my current account and lo and behold I couldn't view my current account on screen. I know that I have a personal loan with my bank that takes a DD every 1st of the month, but if I left that in (£306) it would leave us with nothing for food etc so I transferred everything over to joint account except mortgage money to avoid having to pay the loan. Have I been naughty? Why are my bank not letting me see my current account? I have other DDs that I can pay, such as insurance, sky, phone etc, but just not my loan. But if I can't see my current account online I can't transfer the money accross. Oh dear. I have had no contact from my bank today, but I suspect they've restricted access to my current account online deliberately because I have transferred all my money out.
I have a counselling call booked with CCCS on Monday, but would welcome your ideas about how to deal with this or your relevant experiences. I'm frightened they'll close the account on me (I'm with RBS by the way), but I've paid £2,500 per month into the account for about 4 years to date, it's only a temporary problem and I will get back on track once I go back to work full time in March 2009. Why are they doing this to me???
For info, my debt repayments come to a total of over £700 per month and I have not paid any of them this month, purely because of my pay situation. That is made up of RBS loan £306, Egg £85, Cap 1 £75, Littlewoods £100, Next £56, Freemans £66 and La Redoute £39 .
Now that I can't transfer the DD money accross to my current account, RBS are likely to charge me £38 for each unpaid DD - about 6 in total so a massive £204 charges in one month!! And the money to pay them is in my joint account!!
GRRRRR:mad:

kimdegsidash

Unashamed bump:j

Lemon_Tree

i don't know why your bank would have done this unfortunately the only way to find out is to ask them, but they are able to take your money to honour a loan payment to themselves, not sure they can do this in a joint account unless the loans in both names but i could be wrong there. You are in the right place, and you'll find that your thinking changes, eg paying for sky rather than putting it towards debt, but that's a personal choice and i just want to wish you luck and say welcome to the boards.

Bestthingsinlifearefree

Hi K,

Welcome to MSE. Why not post the SOA? I know it is a big step, but if people can see the overall picture it helps them give advice.

Mrs Best had 1 year maternity leave I think it was 3 months full pay, 3 months half pay and 6 months no pay. Losing the 2nd full time salary can be a shock to the budget and even now the little man is 2 years 3 months it is tricky juggling child care / work etc for us.

You mentioned your OH does not work. Would it be possible for him to find some work?

Keep posting.

Best,

Bestthingsinlifearefree

Could you phone RBS?

Plan the call, explain the "cash flow" situation and ask their advice. It could well be in their power to waive charges. I think you need to communicate with the bank and see what is the best way forward and see if you can maintain your accounts / avoid charges, agree repayment schedules. Maybe talk to CCS about this particular situation.

newmum1

Are you claiming all the benefits hat you are entitled to, as if not this should boost your monthly income ?

kimdegsidash

Cheers Best
I guess I just need to call RBS on Monday. I always approach such calls in an ashamed way and let them walk all over me. Will just have to try the 'I've been a good customer' approach hey? But still, no explanation as to why they've removed my current account from online banking?
Hope they wouldn't close my account just because of one month's discgrace surely?

kimdegsidash

Hi Newmum - yes unfortunately my annual income does not allow me to claim extra tax credits or income support in the months that I am on SMP - it is just bad budgeting on my part I'm afraid. What a fool I have been. Spent too much at Christmas when I should have left money in my account to cover the outgoings when I knew I would be on SMP. But having children and family over on Christmas Day (10 for dinner) meant I spent far too much.
Still, doesn't give RBS any reason to delete my current account does it?

Bestthingsinlifearefree

kimdegsidash wrote: »

Cheers Best
I guess I just need to call RBS on Monday. I always approach such calls in an ashamed way and let them walk all over me. Will just have to try the 'I've been a good customer' approach hey? But still, no explanation as to why they've removed my current account from online banking?
Hope they wouldn't close my account just because of one month's discgrace surely?

I think the best approach is to say you inadvertently transferred the money, prior to this your account has been run excellently and could they waive the charges on this occassion, be polite and friendly, explain you are on maternity leave, sleepless nights etc. explain there is not a long term issue as you will be going back to work soon. Explain that your account has been well run for many years ..................SO could they be reasonable and waive the charges?

p.s

Post a SOA !!! That is the best way forward for you. You need to reduce outgoings / increase income.

There are loads of ways MSE ers can help you to do this if they have more detail on your current situation.

Keep posting, keep positive, it can be sorted.:beer:

Best

Bestthingsinlifearefree

kimdegsidash wrote: »

Hi Newmum - yes unfortunately my annual it is just bad budgeting on my part I'm afraid. What a fool I have been. quote]

Don't be to harsh on yourself. We all make financial mistakes or could budget a bit better.

Hey even RBS........have lost the odd pound or 8 billion pounds here and there.;)

http://news.bbc.co.uk/1/hi/business/7836882.stm

So it can happen to all of us.:D

The important thing is to start trying to look at all the options and practical steps to take things forward over the next few days, weeks, month, year.


Best,

kimdegsidash

Ok here is my SOA for the month of February 2009. It is bad!!

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 500
Partners monthly income after tax....... 0
Benefits................................ 205.63
Other income............................ 300
Total monthly income.................... 1005.63
Monthly Expense Details
Mortgage................................ 205.63
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 113
Electricity............................. 70
Gas..................................... 60
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 25
TV Licence.............................. 12
Satellite/Cable TV...................... 55
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 0
Petrol/diesel........................... 40
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 17.42
Contents insurance...................... 0
Life assurance ......................... 32.19
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 830.24

Assets
Cash.................................... 150
House value (Gross)..................... 235000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 235150

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 174000...(205.63)...0
Total secured & HP debts...... 174000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Egg............................4476......85........21.9
Capital One....................2680......75........22
RBS Loan.......................10000.....306.......9.9
Littlewoods....................375.......117.......0
Next...........................424.......56........0
La Redoute.....................285.......13........0
Freemans.......................418.......66........0
Total unsecured debts..........18658.....718.......-

Monthly Budget Summary
Total monthly income.................... 1,005.63
Expenses (including HP & secured debts). 830.24
Available for debt repayments........... 175.39
Monthly UNsecured debt repayments....... 718
Amount short for making debt repayments. -542.61
Personal Balance Sheet Summary
Total assets (things you own)........... 235,150
Total HP & Secured debt................. -174,000
Total Unsecured debt.................... -18,658
Net Assets.............................. 42,492
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.