Bank withdrew £1400 of my overdraft without telling me- help

never-in-doubt

welshmoneylover wrote: »

You could try living within your means and learn to budget so you can pay off your overdraft.

hth

Very judgemental, irrelevant and opinionated don't you think? Did you really feel the urge to respond with that amazing advice or do you think you're just better than everyone else?

Either way, answers like this should be trashed, as with the user. It was as much use as a chocolate fireguard...... bit like my response but opinionated !!!!!! are so annoying :rotfl: :rotfl:

OP, Halifax along with other banks are reducing limits all the time now. Have a read here to see more stories: http://forums.moneysavingexpert.com/showthread.html?t=1655559

It seems to be those that are classed as higher risk, maybe move banks would be a start (most will match your current o/d) so if you have a statement handy then take that in and the new bank may match the o/d halifax used to give you. Then move banks and pay Halifax a tenner a week or something daft!

agsnu

BarclaysManager wrote: »

Because when overdrafts are approved, it's done on the grounds that it IS appropriate - but also on the proviso that it's for short term borrowing, not long term. When it's not used in that fashion, then it is appropriate to remove or reduce the facility.

Whilst there is an element of truth to this, it is never appropriate to remove or reduce borrowing facilities that are in use without warning or discussion. People make mistakes, have misfortunes, etc - and sure, a lot of the time the blame probably lies at their feet for not setting aside enough of a cushion, being overambitious, etc. But squeezing them when they're already feeling the pinch - hitting them with charges and hiking rates - is just kicking them while they're down.

Lokolo

never-in-doubt wrote: »

Very judgemental, irrelevant and opinionated don't you think? Did you really feel the urge to respond with that amazing advice or do you think you're just better than everyone else?

Either way, answers like this should be trashed, as with the user. It was as much use as a chocolate fireguard...... bit like my response but opinionated !!!!!! are so annoying :rotfl: :rotfl:

OP, Halifax along with other banks are reducing limits all the time now. Have a read here to see more stories: http://forums.moneysavingexpert.com/showthread.html?t=1655559

It seems to be those that are classed as higher risk, maybe move banks would be a start (most will match your current o/d) so if you have a statement handy then take that in and the new bank may match the o/d halifax used to give you. Then move banks and pay Halifax a tenner a week or something daft!

This isn't the DFW board tbh.

If someone wants sympathy for getting too far in debt etc. they can go there. They want serious help, thats been given, live within you means.

Extant

agsnu wrote: »

Whilst there is an element of truth to this, it is never appropriate to remove or reduce borrowing facilities that are in use without warning or discussion. People make mistakes, have misfortunes, etc - and sure, a lot of the time the blame probably lies at their feet for not setting aside enough of a cushion, being overambitious, etc. But squeezing them when they're already feeling the pinch - hitting them with charges and hiking rates - is just kicking them while they're down.

It is appropriate - while someone is operating with an agreed facility, the bank has little recourse. When they're found to operating it inappropriately, the bank removes the facility, thereby forcing them to debt collections to reduce the balance.

As said above, I would prefer the bank take the approach of "you're doing it wrong, you need to repay it, but we're not going to charge you etc. while you do."

Calchas

welshmoneylover wrote: »

You could try living within your means and learn to budget so you can pay off your overdraft.

never-in-doubt wrote: »

Very judgemental, irrelevant and opinionated don't you think? Did you really feel the urge to respond with that amazing advice or do you think you're just better than everyone else?

Those that make assumptions in this way display an alarming lack of respect to others, not to mention an extreme ignorance which only serves to highlight their own failings to all and sundry. They will, of course, receive support from like minded individuals with low self-esteem, who also get gratification by highlighting the alleged shortcomings of others.

As an example, it would be very much like spotting the fact that welshmoneylover has joined slimming world, lost weight, (as he/she has, according to their signature) and blithely stating that if welshmoneylover hadn’t stuffed his/her fat face full of doughnuts he/she wouldn’t have ended up as a gluttonous lard !!!! in the first place.

Highly inappropriate and offensive to most I know, but I am merely highlighting the fact that judgemental posts serve no one, least of all the sender.

Even the perfect suffer from self-delusion!

exel1966

Seem to be an awful lot of these type threads at the moment. The banks really tightening up or have the TROLLS come out to play again as the threads all seem awfully similar !

Lokolo

Calchas wrote: »

Those that make assumptions in this way display an alarming lack of respect to others, not to mention an extreme ignorance which only serves to highlight their own failings to all and sundry. They will, of course, receive support from like minded individuals with low self-esteem, who also get gratification by highlighting the alleged shortcomings of others.

As an example, it would be very much like spotting the fact that welshmoneylover has joined slimming world, lost weight, (as he/she has, according to their signature) and blithely stating that if welshmoneylover hadn’t stuffed his/her fat face full of doughnuts he/she wouldn’t have ended up as a gluttonous lard !!!! in the first place.

Highly inappropriate and offensive to most I know, but I am merely highlighting the fact that judgemental posts serve no one, least of all the sender.

Even the perfect suffer from self-delusion!

The OP didn't go into OD by £2k overnight....... plenty of time to come here and ask for help with budgeting....

opinions4u

As an example, it would be very much like spotting the fact that welshmoneylover has joined slimming world, lost weight, (as he/she has, according to their signature) and blithely stating that if welshmoneylover hadn’t stuffed his/her fat face full of doughnuts he/she wouldn’t have ended up as a gluttonous lard !!!! in the first place.

The doughnuts were a contributory factor to growth in my waistline.

Greggs ones.

14lb lost in the last month though.


As for withdrawal of overdraft faciltiies ...

- banks can demand the return of funds on demand
- it's not a good idea for customers to live in their overdraft
- in the name of fair play I think (TCF?) banks should give at least one month's notice in writing of the withdrawal or reduction of a facility where the new limit will be below the most recent highest value of overdraft. More notice for larger amounts would be appropriate.
- where a customer has identified a financial difficulty looming (but not actually arrived yet) banks should be better set up to deal with this and assist. The OP was told "I phoned up and complained and customer services said there was nothing they could do about it and I had to speak to the debt repayments department but I can't do that until the debt has become active which doesn't happen til tomorrow". This is simply inflexible, unhelpful and wrong.

I can understand a lender being a little concerned when faced with "due to an expensive and unsuccesful stint living abroad my cashflow is in a bad way and I just need a bit of lee-way until I can get back on my feet again." - should a UK overdraft really be funding an overseas lifestyle?

The decision to reduce or remove an overdraft facility is often right. The way banks go about it (and Halifax seem to be one of the bigger culprits on this) needs to be improved.

Money_maker

Yes, it really is happening. Not trolls.

Calchas

opinions4u wrote: »

The doughnuts were a contributory factor to growth in my waistline.

Greggs ones.

You don't live anywhere near Stocton-on-Tees then?

Pork Pies would have been the contributory factor!

With me, it's :beer: