Has your overdraft been cancelled?

retrocircles

This happened to me 12 months ago... still going on because the OD isn't fully paid off.

Current account provider Halifax
Overdraft limit before change £2000
Overdraft balance at time £2000
New overdraft limit after change £0
Whether this happened at an official overdraft review It was an official review, but I wasn't working. How they expected me to find £2000 I don't know. Oh & the £2000 was a student/graduate account.
Any charges Around £260 but I did get those back after months & many letters.
Whether you were notified By writing stating it had been removed. End of.

Funnily enough the year later 'review' just came up. I had a payment arrangement with them, that 'expired' & they wanted the whole balance AGAIN. Now £1300, but still unable to find that money. Went through more drama. Had to stand in brand for nearly 2 hours & get very upset before anything was done to help me.

simax

rb10 wrote: »

If you ever go abroad, you'll find that Lloyds (like nearly all the other banks) charge you a fortune. At Nationwide, you pay a tiny amount outside Europe, and nothing within Europe. Well worth keeping the account open (just with £1 in it) simply for the next time you go abroad.

I go to Tenerife once or twice a year and just take Euro's with me.

I used my LTSB card once I think when I went out for a meal and left my notes in my other pocket. I think it cost me £1.50 extra to use. No big deal really.

Thinking about it, I think I may just keep 1p in there so they keep sending me statements! :D

tiff

But thats £1.50 per transaction so would soon mount up if used more than once.

To those that are able to repay their overdraft, I would recommend thats the first thing you do when clearing your debt.

EIGHTOF8

:mad: HSBC ABSOLUTLY USELESS :mad:

Current account provider HSBC Current plus
Overdraft limit before change 1,700
Overdraft balance at time - 41
New overdraft limit after change 0
Whether this happened at an official overdraft review no
Any charges not yet
Whether you were notified yes, 3 weeks notice by letter
Time with HSBC, 25 years


My [FONT=&quot]fiance[/FONT] received a letter today (4 Jan 2010) stating her £1700 overdraft will be withdrawn on 29 Jan 2010.

Have had this overdraft available for over 3 years and have NEVER used it and has been paying the £12.95pm fee JUST so she has this overdraft facility at a better rate in case she ever needed it.

This the first time she has ever been overdrawn, and now they have cancelled it.

Have phoned them and actually got cut off at first contact (VERY RUDE HSBC).
Finally got through and spoke to several advisors.
They told her she has not used the facility in past, so they are withdrawing it, adding that it had nothing to do with her credit score as that was excellent??? :rotfl:

This comes at a time when she needs it due to changing jobs.
We have never been in bad debt or ever missed any payments EVER.
We even own our own house outright, by paying off an HSBC mortgage in full 3 years ago when she decided to move in with me and sell her house and buy half of mine which actually paid my mortgage off.

I guess its ok for them to borrow of her, but now it’s not ok to borrow off them, not even a miserly £41.

WHAT ARE YOU PLAYING AT HSBC??????

We are not leaving it at that.
Will be making appointment to see our local manager and once she has had a better explanation, closing the account and moving to a better deal on here.
Will also use their complaints procedure in the full.

ABSOLUTLY APPALLED BY HSBC

mgna20

Hi all,

My Current account provider: Lloyds - Graduate account
Overdraft limit before change: 1500
Overdraft balance at time: -700 (i have the overdraft money in a saving account with lloyds)
New overdraft limit after change: 0
Whether this happened at an official overdraft review: December (supposedly an official review period)
Any charges: 95+20 for standing order bouncing
Whether you were notified: They claim to have notified but i didn't receive it.

I have recently discovered that my graduate overdraft had been cancelled while away on holiday (no reason given and i didn't get any notice!). I contacted LLoyds and they said they sent out a letter 30 days prior to the cancellation, which when i returned from holidays was not waiting for me at home.

I went into the branch and the lady managed to remove 2 days worth of charges+a charge for standing order bouncing (due to them cancelling the od) and said she could do nothing more.

Now the problem is that i still have a few days worth of charges in which i believe i shouldn't be obliged to pay, especially when the money from the overdraft is in a savings account next to it!

What is the best way of tackling this?

I am worried that if i fight this the wrong way they will put the other charges back on and I will end up paying all of it instead of a part. Also the charge will come out beginning of Feb, should i argue now or after they take it?

Any help would be greatly appreciated. Thanks!

miniandmimi

Hi, I had an overdraft of £1000 which I had almost used in full, except I left 3 months of charges in to pay for the overdraft usage until I could pay more money in. My bank, Allaince and Leistester cancelled my overdraft and are charging me £100 a month for being £1000 overdrawn. I had changed my address previously with them on the phone and didnt know I had to change my address online. I only knew about the cancelled overdraft and charges because I went online to check my account as I knew that soon the money I left in for the overdraft usage would run out and Id have to put more money in. They had sent 2 letters to my old address. I emailed them and they admitted they had sent them to my old address and to call them. So I have called them 5 times now and this has cost me lots of money which I could of paid off the balance and I have to make arrangements to pay them them the money back. With £100 a month being added on to the £1000 and little work this is absolutely impossible. Is there anything I can do? Many thanks in advance for any information on this! Sheila.

worried48

Current account provider Lloyds TSB (Business)
Overdraft limit before change £5000
Overdraft balance at time £4600
New overdraft limit after change £0
Whether this happened at an official overdraft review No
Any charges Not yet - only spotted today
Whether you were notified NO!
Time with Lloyds TSB 40 years

We had a £3000 overdraft which was due for review in January 2011. We have had this increased, on a monthly to three monthly basis, but agreed, to £5000 for most of this year.

We were supposed to be going down to £3000 at the start of Spetember, we called and asked to discuss it - only wanted to ask if we could reduce it gradually which had in fact been suggested by the bank. The person we wanted to speak to was not there so they extended our overdraft until thursday when she was supposed to call us - only she didn't call (this is not the first time a promised call has not been made)

We needed to pay a supplier so we did that, no problems, then i drew £100 cash earlier today, no problems, then this evening we find the overdraft reading as zero - not back down to £3000 which we had agreed until Jan 2011 but zero, leaving us with an unauthorised overdraft od £4600.

We have never defaulted on any payment or even paid late - until now, of course, because if we can't get this sorted, we are going to have to default on everything and may go under.

Now note they were supposed to call us, we had an actual appointmnet made when they were supposed to phone, they didn't, they have had two more days to phone and didn't, and now they have simply removed the WHOLE overdraft, not jsut the "extra" £2000 BUT all OF IT!

Liz

Rupert_Bear

worried48 wrote: »

Current account provider Lloyds TSB (Business)
Overdraft limit before change £5000
Overdraft balance at time £4600
New overdraft limit after change £0
Whether this happened at an official overdraft review No
Any charges Not yet - only spotted today
Whether you were notified NO!
Time with Lloyds TSB 40 years

We had a £3000 overdraft which was due for review in January 2011. We have had this increased, on a monthly to three monthly basis, but agreed, to £5000 for most of this year.

We were supposed to be going down to £3000 at the start of Spetember, we called and asked to discuss it - only wanted to ask if we could reduce it gradually which had in fact been suggested by the bank. The person we wanted to speak to was not there so they extended our overdraft until thursday when she was supposed to call us - only she didn't call (this is not the first time a promised call has not been made)

We needed to pay a supplier so we did that, no problems, then i drew £100 cash earlier today, no problems, then this evening we find the overdraft reading as zero - not back down to £3000 which we had agreed until Jan 2011 but zero, leaving us with an unauthorised overdraft od £4600.

We have never defaulted on any payment or even paid late - until now, of course, because if we can't get this sorted, we are going to have to default on everything and may go under.

Now note they were supposed to call us, we had an actual appointmnet made when they were supposed to phone, they didn't, they have had two more days to phone and didn't, and now they have simply removed the WHOLE overdraft, not jsut the "extra" £2000 BUT all OF IT!

Liz

They must have a very good reason for removing it completely. I can only speak from my experience but I have a 10k personal overdraft facility and they wanted to reduce it to 5k because of non use. I just rang explained I would like to keep the 10k and they were happy to do this.

I hasten to add I have been with them for about 30 years and have never found a problem in increasing my borrowing requirements and if they consider you as a good risk they will always support you.

kittykat8

I am still waiting to here about my overdraft, up for review 1st october but nothing heard yet, and just cleared my overdraft balance. My overdraft is 3350 and went into the branch, which is santander, they think the system will knock it down to 1400, but my grumbled should they not let me know , and what if I was into my overdraft over the new limit they may set. Surely they have a duty to inform their customers of any changes

gazelle8760

kittykat8 wrote: »

I am still waiting to here about my overdraft, up for review 1st october but nothing heard yet, and just cleared my overdraft balance. My overdraft is 3350 and went into the branch, which is santander, they think the system will knock it down to 1400, but my grumbled should they not let me know , and what if I was into my overdraft over the new limit they may set. Surely they have a duty to inform their customers of any changes

Don't you just hate these assumptions the bank make?

I think you should hear something very soon by letter, if the overdraft amount will change, If they work like Lloyds, no letter means no change, so when I asked them about mine, they said it had been reviewed, and they decided on no change, hence no letter, three months later, they increased it, but I can't see it being that high when renewal comes around in twelve months, but I guess time will tell.

My advice would be, to aire on the side of caution, and don't use above the £1400, if you planned on using it, just incase they do knock it to that, that way, you won't inccur any nasty overlimit fees, which they'd be happy to slap on for a customer who goes over, even though it's not always their fault.

If they keep it at your current level, then it's an added bonus, but I guess you could always argue to keep it the same, should they reduce it, the worst they can say is no.