Help please Nationwide: Bank Charges

booklover

Hello everyone


Hope someone can advise me as I plan to go into our Nationwide branch tomorrow and speak to the manager or someone who can give me some answers.


I will try to make this brief.

My 18 year old son seems to be following in older brother's footsteps; ie. being terrible with money.

Anyway he has asked me for help as he is £18.94 overdrawn but his statement says
he is also being charged £20 Unauthorized Overdraft fee and 21p interest.. I phoned to pay this and clear this debt, well I am so annoyed I ended being on the phone for 35 minutes and was put on hold twice for 3 minuets and 5 minutes.

I still don't fully understand the situation, but the adviser wouldn't accept a payment over the phone and worse still, says my son has to now pay £100!!!

This is because on the 1st December and then on 1st Jan and 1st Feb further amounts £20 Unauthorized overdraft fees will be added.


Can anyone advise me please on this issue?


Many thanks in advance :T


Fiona

jonesMUFCforever

They won't accept a payment over the phone for a payment due to a current account.
I don't know why Nationwide will talk to you as it is not your account!

Give him the money and march him down to the bank and make sure he pays it in.

td_007

booklover wrote: »

Anyway he has asked me for help as he is £18.94 overdrawn but his statement says
he is also being charged £20 Unauthorized Overdraft fee and 21p interest.. I phoned to pay this and clear this debt, well I am so annoyed I ended being on the phone for 35 minutes and was put on hold twice for 3 minuets and 5 minutes.

I still don't fully understand the situation, but the adviser wouldn't accept a payment over the phone and worse still, says my son has to now pay £100!!!

You will not be able to pay by directly talking to his bank - you can make an online transfer to his account, or call your bank to make the transfer, or go along with your son into the branch to make the payment (he will need his card with him &), or use the cash deposit facility at the atms.

booklover wrote: »

This is because on the 1st December and then on 1st Jan and 1st Feb further amounts £20 Unauthorized overdraft fees will be added.

Not sure what the advisor is on about - this assumes that your son will go into unauthorised overdraft over the coming months and clearly the advisor does not know what he/she was talking about. Are you sure though that it is not for the preceding months i.e. sept/oct/nov or something like that?

crispy_chris

td_007 wrote: »

Not sure what the advisor is on about - this assumes that your son will go into unauthorised overdraft over the coming months and clearly the advisor does not know what he/she was talking about. Are you sure though that it is not for the preceding months i.e. sept/oct/nov or something like that?

What the advisor says makes perfect sense, the account will be charged on those dates for being overdrawn. Nationwide do their charges something like 3 months after the incident that caused the charge in the first place.

Lokolo

He is 18, why can he not pay for himself? (it will just be a more valuable lesson if it's coming out of his pocket! )

KarenBB

If an account goes into unauthorized overdraft there is a charge of £20 for being overdrawn at any point in the month, this can be one day or 30 days.

The account is checked at the end of the month and if you have been overdrawn and will be charged you are notified on your next statement and the charge is taken 28 days fater the statement date.
eg. Your statement date is 15th of the month.

2nd September you go overdrawn which you would see on your statement dated 15th September.

At the end of September the system would check the account status for the month, sees you were overdrawn on the 2nd so on your next statement 15th October there will be a note saying you will be charged £20 in 28 days time - 12th November (think that's 28 days)

So being oeverdarwn on 2nd September you're not charged until 15th November so as a previous poster has said it can be a long time after the incident but you are notified.

If the account is still overdrawn in October the cycle contiues. An account being overdrawn will get a charge each month it is overdrawn.

I'd suggest you find out how much the account is overdrawn and pay at least that amount inot the account then your son needs to check any future statements for charges if he's notified of any ore make sure the money is paid into the account before the charges are due to be taken or he will be back at square one. If the account is stilloverdrawn on 1st December that will incur more charges so best to sort it Monday.

The above is how it works to the best of my knowledge and how to make sure he doesn't get any more charges. The other option of course is to ask Nationwide if they will waive the charges for him.

Good luck. HTH.

ps Hope you're going to make him pay it off or work his butt off for you if you pay it.

td_007

crispy_chris wrote: »

What the advisor says makes perfect sense, the account will be charged on those dates for being overdrawn. Nationwide do their charges something like 3 months after the incident that caused the charge in the first place.

According to the OP he is being charged £100 for the months of Dec, Jan and Feb - i.e. in advance. Are you saying that if the overdraft and charges are cleared in now i.e. Nov - he will still be liable for three additional payments? This is clearly not possible. Hence my question to the OP if the charges related to the previous months rather than coming months

aaronb74

My assumption would be that the payments in Dec/Jan/Feb relate to going overdrawn in previous months, as said above.