rbs overdraft declined.

TIDYROOM

Hi I am looking for some advice.

I have been a rbs customer for over 20 years and for the past 10 years I have had a overdraft facility that I did use but certainly did not abuse! The problem is:

1) At the end of May they took my overdraft away from me without any notification. They have said that I should have known as I signed the completion date when I applied for the overdraft.

2) I asked to have my overdraft put back on but it has bee declined. I know my credit score is high and they are saying that I have been given the maximum credit level available.

My financial situation is steady. I have 2 morgages that are shared with my husband. 1 property we stay in the other is rented and gives us a small income. We both have ISA with maximum savings and we have no additional loans. I have a credit card which has a balance of £3900.

Can anyone please help me. What should I do next?

Mags_cat

Do you need an o/d facility?

Is your account currently in credit? If not, and they have taken the o/d away you'll need to bring it back into credit asap to minimise the charges they will apply. You could use some of your ISA money to do this.

Then, once your account is in credit you have choices - you can either continue to bank with them with no o/d or you can move accounts to another provider. Either way, if you feel strongly about it, you could complain to them. I doubt it would have much effect but it might be satisfying...:)

opinions4u

My advice?

Don't lose sleep over it and make sure you don't go overdrawn.

Who wants more debt anyway?

PNPSUKNET

cant really argue as its their choice who they lend, they may these days see buy to let as a high risk. Is your credit card intrest free? If not use the isa to pay it as you wont be getting no where near in intrest

LilacPixie

If you have saving surely you have no real need for an O/D.

welshmoneylover

TIDYROOM wrote: »

Hi I am looking for some advice.

I have been a rbs customer for over 20 years and for the past 10 years I have had a overdraft facility that I did use but certainly did not abuse! The problem is:

1) At the end of May they took my overdraft away from me without any notification. They have said that I should have known as I signed the completion date when I applied for the overdraft.

2) I asked to have my overdraft put back on but it has bee declined. I know my credit score is high and they are saying that I have been given the maximum credit level available.

My financial situation is steady. I have 2 morgages that are shared with my husband. 1 property we stay in the other is rented and gives us a small income. We both have ISA with maximum savings and we have no additional loans. I have a credit card which has a balance of £3900.

Can anyone please help me. What should I do next?

I think you need to start living within your means and do your best to pay off your CC, that £3900 could soon grown into a higher figure if you're not careful.

chambta

If the computer declines the overdraft there's little branches can do these days.

samjef11_2

chambta wrote: »

If the computer declines the overdraft there's little branches can do these days.

Yeah very limited they just say phone the customer service helpline.

heloid

Go to another bank. I'm sure plenty others will look after your money and give you credit.

Rupert_Bear

Rather than using an overdraft facility why not just cash in some of your isa's.

chambta

samjef11 wrote: »

Yeah very limited they just say phone the customer service helpline.

Who says that?

The truth is to explain that it isn't able to be applied. Where once there were various grounds to appeal and overturn decline decisions those options are very limited now.