Bank not allowing me to access my money!

corbyboy

Mr.Bump wrote: »

Given the response I had yesterday I am confused.:(

The bank have still not sent me a letter that they are going to take the money out of my current account to cover my credit card. But I have received a copy of the credit agreement (not the one I signed) with the section highlight about combining accounts. But the front of this agreement is dated 2009 I took out the card in 2005 also note the person I spoken to on the phone did not send a covering not with his name.

I still do not know if they should be asking for all the monies or only the out standing payments?

Please can a sensible person help me out?

These are the facts:

• The bank cannot make you repay your entire credit card. In fact they can only make you pay what you owe them in arrears
• The bank don't have to notify you when they use their right of set off. They don't even have to after they have done it. Perhaps the fact that you have phoned them and they have explained the situation over the phone is the reason they have not sent anything in writing.
• The bank don't have to include it in their terms and conditions
• If you have an overdraft with your current account they have to give you reasonable notice if they are going to cancel that, unless you have broken any of the terms and conditions. However it is not clear if you have an overdraft or not.

You need to be crystal clear with your bank about what exactly they have done. How it usually works is that they will move the money from your current account to your credit card. It is annoying but at least it will stop you getting charges for missing payments.

You said that they have frozen the money in your current account. You need to be clear about this because in the meantime you will be racking up missed payment charges on your credit card.

It is important that you find out exactly which situation you are in. Have they frozen your current account or have they moved the money to your credit card?

Mr.Bump

Thank you for your clear reply, they have frozen my current account.

HouseHuntr

Olipro wrote: »

the bank will not just automatically raid your account if you are in default on a credit card, eventually yes, they will do it, but he's clearly not at that point yet.

You obviously know very little about how and when off-setting can be applied.

HouseHuntr

pmduk wrote: »

Househuntr why not just ignore the thread rather than make post after post criticising it

Because there are postings form some people here who clearly no absolutely nothing about how the system works and just want to argue the point because they don't like my postings. Olipro as a clear example!

samjef11_2

HouseHuntr wrote: »

Because there are postings form some people here who clearly no absolutely nothing about how the system works and just want to argue the point because they don't like my postings. Olipro as a clear example!

Rather than tell the person who know nothing just say they not correct of the information they have posted and this your facts that you believe are uptodate.

olly300

Olipro wrote: »

the bank will not just automatically raid your account if you are in default on a credit card, eventually yes, they will do it, but he's clearly not at that point yet.

We don't know what bank the OP is talking about.

In the last year or so banks and credit card companies have been taking some strange actions towards people who are in arrears with credit card payments.

OP do you have a history of missed payments and/or going over your overdraft limit? The only time I know of people having their accounts frozen is when they had a history of mis-management.

samjef11_2

olly300 wrote: »

We don't know what bank the OP is talking about.

In the last year or so banks and credit card companies have been taking some strange actions towards people who are in arrears with credit card payments.

OP do you have a history of missed payments and/or going over your overdraft limit? The only time I know of people having their accounts frozen is when they had a history of mis-management.

Or if the peroson bank has made a error and frozen the account that it did not intend to.

Azrael_1701

Mr.Bump wrote: »

Thank you very much.:beer:

I will e-mail the banks big boss tomorrow, phone up and recorded the conversation and offer them the arrears.

I have already registered a complaint with the FOS.

Thats actually illegal....

noh

Azrael_1701 wrote: »

Thats actually illegal....

If you are referring to the recording of a telephone conversation by a private individual then no it is not illegal provided it is for their own use.
If the recording is to be made available to a third party then the consent of the person being recorded is required.

http://www.ofcom.org.uk/static/archive/oftel/consumer/advice/faqs/prvfaq3.htm

Azrael_1701

noh wrote: »

If you are referring to the recording of a telephone conversation by a private individual then no it is not illegal provided it is for their own use.
If the recording is to be made available to a third party then the consent of the person being recorded is required.

http://www.ofcom.org.uk/static/archive/oftel/consumer/advice/faqs/prvfaq3.htm

exactly, it couldn't be used as proof of anything.