Halifax removed overdraft with no notice

opinions4u

kelloggs36 wrote: »

It seems that their approach is not consistent.

How do you define consistent? Everybody's circumstances are different, so how can they be seen to be consistent? Surely it would be reckless to apply the same lending criteria to everybody?

I am a graduate with a graduate account with the Halifax.

That would be an achievement as they don't have a graduate account. Perhaps you are a graduate with a Student account that operates for a year after graduation.

I don't use it for spends, it is overdrawn well within the limit they gave, but I am paying it off monthly by £50 per month - it should be paid off by the end of the year. However, they rang me today offering me another card!! I declined as I have no need for it, but they can see I don't use the account, I wondered why they offered it to me as a 'loyal' customer (loyally not spending, is that what they mean??)

They have clearly seen that you can manage your debt and are a good risk. A status worth retaining in these difficult times.

Raspberry_Swirl

I understand that I have no right to complain about the fact that they have not renewed my OD as it's not my money, but can they do so without giving me notice or at least writing to me to say that it's not being renewed?

They wrote to my partner last week to inform him that after his yearly review they were renewing his OD for another year, but didn't inform us that our joint account wasn't being renewed.

opinions4u

Raspberry_Swirl wrote: »

I understand that I have no right to complain about the fact that they have not renewed my OD as it's not my money, but can they do so without giving me notice or at least writing to me to say that it's not being renewed?

They do tell you how long the facility last for when they offer it and when you receive a statement.

That will be their (successful) get out clause.

Personally I think it's poor form not to put it in writing at least 4 weeks before expiry that it isn't being renewed.

TismE_3

This post has scared me stiff!! see sig for more details, accounts are with natwest .
Tisme x

GrammarGirl

TismE wrote: »

This post has scared me stiff!! see sig for more details, accounts are with natwest .
Tisme x

Me too!

LilacPixie

I have an account with HBOS, I have a £100 OD that I never ever use, the account came with it. It was reviewed 29th July 08 and I asked them to keep the facility on the account for emergency bumper purposes. Checked statement online today and its gone

I have paperless statements December 08 (05/01/09 printed) statement shows an overdraft review date of 28th July 09 but Jan 09 (02/02/09 printed) statement shows an overdraft review date of 15th Feb 09.

To be honest the removal of the OD itself doesn't bother me but way that they have messed around with the OD review dates is annoying and possibly sneaky. I wonder if those caught by this will be subject to the £28 bank charge for unauthorise OD.

welshmoneylover

If you do what I do and live within your means - there is no need for an overdraft.
Indeed, if you keep a few hundred pounds in your bank account to act as a 'buffer' there is no need to go overdrawn either.
Hope this helps someone.

Money_maker

welshmoneylover wrote: »

If you do what I do and live within your means - there is no need for an overdraft.
Indeed, if you keep a few hundred pounds in your bank account to act as a 'buffer' there is no need to go overdrawn either.
Hope this helps someone.

Doubt it. Most of us are on this site to help control spending.

Rather suggest folks dig out their statements and make some plans before their overdraft review date.
Mine comes up in July - planning to have it cleared by then.

TismE_3

Do all overdrafts have a renewal date then ? im with natwest and have never heard of a renewal date.....i no longer get paper statements so cant check those. does anyone out there know!?

pc83uk

TismE wrote: »

Do all overdrafts have a renewal date then ? im with natwest and have never heard of a renewal date.....i no longer get paper statements so cant check those. does anyone out there know!?

I'm also with Natwest and can't find any overdraft renewal date on my paper statements.