Banks cancelling overdrafts

angelicmary85

And we love reading the utter rubbish that you post!! Please keep posting, you honestly are my MSE highlight so far!!

Spanish898

angelicmary85 wrote: »

And we love reading the utter rubbish that you post!! Please keep posting, you honestly are my MSE highlight so far!!

The topics and contents i post is all true btw though... lol

I dont invent random stuff or anything like that... :rotfl:

But i just make sure that when i post my views on here and other sites that i do it in a way that winds-up all the old biffers!!:rotfl: :A



I can even post a picture of the letter that ive now printed out and is inside the envelope with halifax's address on the front waiting to be posted when i go out down the high street to the post box next. :cool:

ahai1

I think it is meaningless to have a thread where people come and report something without other people putting it in context. This reminds me of the sweeping statement that Martin once made about not having free banking due to bank charges.

digitalia wrote: »

MSE_Guy wrote: »

We're hearing worrying stories of banks closing people's overdrafts, while they're overdrawn, without warning and sometimes adding charges because they're then in the red.

We want to know how widespread this is, so please report any problems.


*********************************************************
Guys, this thread was to indicate how widespread this situation is at themoment. Not for people to discuss, have a go or lord it up over people that are in their overdrafts.

Extant

Nomad25 wrote: »

Pedro

Your posts are hard to read, repetitive, do not contribute to this thread and are tiresome.

Lokolo has been posting, answering and helping people on this forum for some time, your track record does not compare.

So stop being silly and knock it off or admin will have no choice but to close the thread.

Oh no! You're disagreeing? You are clearly another one of those over paid bank staff!

(Average Barclays salary 2008: £16,250)

shanaellis80

sluggy1967 wrote: »

I find posts like "only have yourselves to blame" patronising and unnecessary on a forum such as this. Rising fuel costs, petrol prices that went crazy a few months ago (and are creeping right back up), huge rises in staple goods (have you not noticed how much bread and potatoes cost now?) all mean that people on a small, fixed income are really struggling - better to use an overdraft than credit cards. If you have been fortunate enough to not need your overdraft, well bully for you, some people dont have that luxury, no matter HOW MUCH they cut their cloth.....

I totally agree with you. Reading this post has made me slightly annoyed. The "only got yourselves to blame" is demeaning. Some of us were young and naive when certain banks (mine begins with N) decided to hike a 4500 overdraft on me when I earned a measly £15000 p.a. (and they knew my spending habits, I was 18!!). After last weeks' post re banks offsetting savings and wages to overdrafts, I've moved account and will arrange to pay back said overdraft as best and quickly as I can. Trust me I wanted to leave NW years ago, but the anvil around my neck made that impossible. This is the kick up the butt that I need. :money:

PROLIANT

never-in-doubt wrote: »

Yup, to get informative decent info without abuse, CAG is a good place to start. They have mods that boot certain mouthy fools off for half of what they say......



Ermmm, Pro, last I seen you were a CAG cronie - or did you forget that little detail?

Close the door on your way out please.

Nope, only joined to test the water, the water tasted like dogs pi$$ so as you can see from my activity on there - I choose not to contribute.

ahai1

Most people who work in the banks are not fat cats enjoying the views. To be blunt for the greater good of the bank if everyone with difficulties was given an overdraft then the banks would go under. I am sorry but the fact is that the banks have to give money to people who are likely to give it back or the people who got the loans will become subprime.

Angelgabriel wrote: »

Both me and my husband are both self employed with three small children. We're getting in work but our clients are taking longer to pay us hence we rely heavily on our overdraft. We're basically budgeting day by day to ensure the mortgage and important bills get paid and we can put food on the table. We're getting very good at juggling! If the bank was to withdraw our overdraft facility at the moment we'd be screwed, I'm getting very worried. I don't tend to winge but it makes my blood boil when hard working people are being penalised whilst fat cat bosses are getting paid obscene amounts of money for sitting on their backside admiring the view. We're both looking for part time work on top of running the businesses but there's not a lot our there at the mo. Only way is up because I daren't look down!

pedro123456

wow nomad.......so someone like me can ask for contributions from other people , offer to say nothing for a while so that others can put their points across.........and In your opinion I'm wrong?,

Well get you.

So I, a fella (me lol) who is sick and tired of banks etc kicking me from pillar to post and encouraging others to speak out am wrong?

Nomad are you a said member of Admin that you declare will stop this thread?.........If you are shame on you.............if you aint, speak of things you have the authority and ability to speak about.

This thread is about ppl expressing their concerns if coccolo has the intelegence and or experience good, I endorse his input, but from how I see it..........he is paying lip service.............I may be wrong and I hope I am.

as for your opinion about me, I aint really interested...........please leave this thread for ppl to express their concerns or tell their stories


hehehe.......Barclays manager............your funny.......how much did your comment cost customers..........go back to work and steal some more cash for your directors...........if you want a interlectual debate.....i'll have one with you......fire away when your ready........my guess is............you are being paid £70.000 /yr..................£5800/month............£1500/week........£300/day..........£40 /hour.....and you are obviously worth every penny .....................so feel free to sit behind your desk and discuss your intellectual superiority and or why banks should be allowed to have the power they have just acquired with me.

but..............not on this thread lets leave this to the others who want to say their bit .



Ta .......Pete

Andy_Ches

I registered to give help and advice to people but have found it is become difficult having to go through all of the bickering and unhelpful comments on various threads, so I don't think I'll bother anymore.
:rolleyes:

jambosans

*MF* wrote: »

You are satisfied, as you must be therefore, that no overdraft has been granted by a Bank to anyone who is NOT in a position to repay it in full immediately on request, whenever that request may be made, and irrespective of the borrowers circumstances at that time.

If that be the case, I apologise, and retract any question or doubts I may have so clearly and incorrectly harboured.

Even with an overdraft being repayable on demand it does not always work like this. Overdrafts are often provided for a fixed term, so the customer is aware when the overdraft can possibly be removed - in most cases twelve months. If the overdraft is going to be removed a customer will normally receive 30 days notice. Perhaps 30 days is not adequate notice but bare in mind the review date is printed on every statement (I refer specifically to HBOS). It is repayable on demand, and in some cases this happens before the review date, but ultimately you have been notified of when a removal can take place.

Banks often extend credit lines to customer's well beyond what they could afford to repay in one go, so on that aspect I agree. As I stated however, with most people, your review date is the end of the short term loan, that's why it is reviewed on a rolling twelve month bases (in many cases).