Too much taken - now overdrawn

Lovingthisboard

Hi. I was hoping someone could best advise.

My mum recently opened a new fixed rate bond. It now appears when she opened it she'd OK'd a transfer down the line of 20K+. However she had numerous reminders in the meantime that the account was open but unfunded and hence arranged what is now a 2nd TV of 20K+. The 1st payment has now been taken on top of the '2nd' one & it's left her 8K overdrawn in her current account.

Can anybody please advise what's generally the best way to go about sorting this out? I'm ready to give her some of my own money to put her back in credit for the time being if nothing quick and simple can be done to reverse this. Worried about ridiculous overdraft charges too!

Thanks for reading.

Zazen999

What I generally tend to do in situations like this is to pick up the phone, explain the situation to the company involved and ask them.

Most of the time, it usually works.

greenface

have you contacted them

barny_100

Zazen999 wrote: »

What I generally tend to do in situations like this is to pick up the phone, explain the situation to the company involved and ask them.

Most of the time, it usually works.

:T:rotfl:

I wonder sometimes what some people did before internet forums, just sit there in a trance I guess!

opinions4u

Lovingthisboard wrote: »

My mum recently opened a new fixed rate bond. It now appears when she opened it she'd OK'd a transfer down the line of 20K+. However she had numerous reminders in the meantime that the account was open but unfunded and hence arranged what is now a 2nd TV of 20K+. The 1st payment has now been taken on top of the '2nd' one & it's left her 8K overdrawn in her current account.

Can anybody please advise what's generally the best way to go about sorting this out? I'm ready to give her some of my own money to put her back in credit for the time being if nothing quick and simple can be done to reverse this. Worried about ridiculous overdraft charges too!

If the duplicate payment has been collected by direct debit, then she should make a claim under the direct debit gurantee via her bank.

If it's by some other method (e.g. debit card), call the savings provider and ask them to resolve it, ensuring that any bank charges are refunded too.

Lovingthisboard

Cheers for the help.

I know it's daft to ask here first. Just that I'm at work and trying to help my mum out 'remotely' so to speak.

I can't believe they'd pull such an amount to leave an account so far in the red so maybe it'll be reversed as insufficient funds anyhow. But otherwise it looks like the DD indemnity clawback.

I help my parents out with finding some of the better savings rates and I feel more responsible for their stuff than my own sometimes. What a pain in the backside this has been.

withnell

Lovingthisboard wrote: »

I can't believe they'd pull such an amount to leave an account so far in the red so maybe it'll be reversed as insufficient funds anyhow.

From what you've said, your mum keeps a balance of 12k in her current account genrally, and has held 32k for a while for the direct debit to be pulled from - so that's probably why her bank have allowed the account to go 8k in the red. The person pulling the money cannot see what the balance of the bank account is

Hungerdunger

withnell wrote: »

From what you've said, your mum keeps a balance of 12k in her current account genrally,

Which raises the question of whether some of that £12k could be put to better use.

Lovingthisboard

Just an update: looks like they bounced the 'excessive' DD anyhow ('DD unpaid'), although my mum phoned both sides on Friday anyhow which hopefully helped in clearing it up too.

Thanks for all the help. Much appreciated :beer: