Has your overdraft been cancelled?

Very_very_worried_2

After waiting around for many phone calls...I took myself into my local branch, went through my whole account with the woman there to be told they have no idea when or why it was taken off...they've reinstated it, but with £300 in cahrges....that I will NOT be paying!! At least it's sorted out for now...needless to say it got me into action....but i'm now savings-less as I used it to pay most of my overdraft off

spl2nh

LLoyds TSB cancelled my overdraft two days ago with no grace repayment period. Overdraft was £1500. Now nill. Owed £1400. Thankfully have got this down to £200 in the last ten minutes. Have been informed though that I have incurred an unarranged borrowing fee of £35!!!

No debts, married couple, two professional level incomes! Whats going on?

Jay_09

I recieved a letter the other day saying that the abbey was reducing my £2000 overdraft to £1000 on the 1st september, as this is a graduate account i am totally in my overdraft and my wages only replace about 800-900 a month at the moment.
After calling the bank to see how i was going to repay this £1000 and what interest i would be charged i was told that they would take any money in my account off the amount due and then jus take all of my wages when they are paid into my account untill the debt is cleared. I also will be charged for every day that i am in a unauthorised overdraft untill the £1000 is paid off. Is this right?
#the only adivce i was given when i explained i couldnt loose my wages as i have other bills to pay was to make sure i have the full amount in my account before they reduce my overdraft as to not recieve charges, but there is no way i can get £1000 from no were in that space of time. is there anything i can do to stop them from taking all of my money off me?

Cumbrian_Male

Jay_09 wrote: »

I recieved a letter the other day saying that the abbey was reducing my £2000 overdraft to £1000 on the 1st september, as this is a graduate account i am totally in my overdraft and my wages only replace about 800-900 a month at the moment.
After calling the bank to see how i was going to repay this £1000 and what interest i would be charged i was told that they would take any money in my account off the amount due and then jus take all of my wages when they are paid into my account untill the debt is cleared. I also will be charged for every day that i am in a unauthorised overdraft untill the £1000 is paid off. Is this right?
#the only adivce i was given when i explained i couldnt loose my wages as i have other bills to pay was to make sure i have the full amount in my account before they reduce my overdraft as to not recieve charges, but there is no way i can get £1000 from no were in that space of time. is there anything i can do to stop them from taking all of my money off me?

Yes, open a new account elsewhere for your wages.

lindabelle

Hi Everybody

Can anybody help me ? i have been a customer with Lloyds TSB for over 20yrs , my partner has been paid off work through ill health (COPD) me & my partner are living on benefits & i am a full time carer to our son who is autistic . due to living on benefits we have been using our overdraft when an emergencie came up , this was a lifeline to us as we have no family round about us, to my distress they have took this away as we applied for a loan in May 09 , we have only found out this today when we needed to use some overdraft till our benefit went in on thursday.

We went straight over to the bank & we were told...... because we took out a loan in May the conditions were that they took our overdraft away for 12 month's .

we were not told this at the time when we applied for loan ......if we had been we would never had took the loan out . could anybody give any advice to me, this is distressing us to no-means as what if we have an emergencie with our son ie; taxi fare to hospital , dentist , etc etc .

i would be grateful for any advice

angel1471

Hello,

I received a letter yesterday from Alliance & Leicester saying that my overdraft would be removed 30 days from the date of the letter which was dated 29th July 2009.
On logging on to internet banking today I have had a direct debit bounce and been charged £25 fee, but I was well within my overdraft limit. I called A&L immediately to find out what was going on, and a snooty girl told me it was because I was overdrawn and that was that. I argued the point and she in said I would have to speak to credit control. On speaking to them they said that my overdraft had been removed on 1st August instead of 1st September and that it was a clerical error on their behalf. I just wanted to warn anyone else who have had a letter, be careful the OD may already have been removed and your DD's bounced and then charged for the priviledge of their error.

Kathryne_2

I had a guaranteed 4000 overdraft offered in June- was using up to 3000. When I next checked it had been reduced to 3000, which was ok.
(I have a letter stating 3000 guaranteed until July 2010).
Checked today- guaranteed overdraft reduced to 1500, although on my account screen it still says 3000.
What is going on with this bank? I am beginning to hate them sooo much. Plus they're really horrible to talk to when you use telephone banking. Customer Service 1/10 and that's generous!

jambosans

Kathryne wrote: »

I had a guaranteed 4000 overdraft offered in June- was using up to 3000. When I next checked it had been reduced to 3000, which was ok.
(I have a letter stating 3000 guaranteed until July 2010).
Checked today- guaranteed overdraft reduced to 1500, although on my account screen it still says 3000.
What is going on with this bank? I am beginning to hate them sooo much. Plus they're really horrible to talk to when you use telephone banking. Customer Service 1/10 and that's generous!

An overdraft limit is never guaranteed. It is provided over a fixed-term period (i.e. twelve months), however Halifax are within their rights to reduce or withdraw your overdraft during this period.

They should have given you notice in writing advising of changes to your facility, although there are instances were this may not be required (see your account terms and conditions).

Unfortunately there is not much you can do, and you may never get a full explanation as to why they are reducing it. I would imagine it is to do with either account conduct; reviewed lending criteria under tighter risk; or a combination of both.

gazelle8760

Kathryne wrote: »

I had a guaranteed 4000 overdraft offered in June- was using up to 3000. When I next checked it had been reduced to 3000, which was ok.
(I have a letter stating 3000 guaranteed until July 2010).
Checked today- guaranteed overdraft reduced to 1500, although on my account screen it still says 3000.
What is going on with this bank? I am beginning to hate them sooo much. Plus they're really horrible to talk to when you use telephone banking. Customer Service 1/10 and that's generous!

The Gazelle would not rest knowing I had spent so much of the banks money, funny how you never mentioned how you intend to pay it all back?

weary

i've tried to up mine the charges are whats causing me to go overdrawn but its a big fat no