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overdraft interest/penalty charge
jb1978
Posts: 4 Newbie
Hi,
The interest on my authorised overdraft pushed my balance over its agreed limit and incurred a penalty charge of £20. Is the the bank (NatWest) allowed to do this? They have so far refused to wave it.
Thanks
The interest on my authorised overdraft pushed my balance over its agreed limit and incurred a penalty charge of £20. Is the the bank (NatWest) allowed to do this? They have so far refused to wave it.
Thanks
0
Comments
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Hi,
The interest on my authorised overdraft pushed my balance over its agreed limit and incurred a penalty charge of £20. Is the the bank (NatWest) allowed to do this? They have so far refused to wave it.
Thanks
Yes they can as the interest charge is pre advised for 21 days after your statement date.
Was this your first charge? Have you had a spotless record with the bank? Did you correct it as soon as you were aware of this?
I would argue it on these grounds if the answer is yes to all three questions.0
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