HBOS Ovedraft Letter Received- Advice Please

SallyBarringtonWilliams

Hi

I hope you may be able to advise me but we have several overdrafts across the hbos group and today have received e-letters stating that as from October 1*th all the overdrafts will be xxx amount of pounds.

Basically all the seperate letters are stating that the limit will be at the existing limits as the amount stated says the exact same amount that current limits are.

Does this mean thats what they have decided the limit will be from the overdraft expiry date in October????????

Thanks for your help

Sally

noh

Yes.
All HBOS overdrafts are set for one year.
They are informing you that your overdraft limits will be the same as they are now for a further year.

SallyBarringtonWilliams

noh wrote: »

Yes.
All HBOS overdrafts are set for one year.
They are informing you that your overdraft limits will be the same as they are now for a further year.

Thanks for that noh. All it says though is that from the 1*th october your limits will be £xxxxxx it doesnt say extended for another year or anything like that!!!!!!!!!!. Im not worried anyway, the largest overdraft is currently at £11,500 and the letter states it will remain at the level from october,lthe same for all the others. Why do you think they gave us such large overdrafts,someone at the office said it was to do with the amount of cash going through the accounts and we must have an excellent credit rating.



Sally

noh

You're right the letter doesn't state a time period.
They generally review the overdraft limit each year.
I have an account that was opened in October, a few years back, and each September I have received the letter informing me of my overdraft limit which has stayed the same for the last two years.
The overdraft on that account was originally set at £10K and yes I believe it is related to throughput. In the first year or two alot of money passed through the account all of it was savings that I moved around using the Halifax current account as a staging point.
The following year when there was less throughput they dropped the overdraft limit to £4.5K.

SallyBarringtonWilliams

noh wrote: »

You're right the letter doesn't state a time period.
They generally review the overdraft limit each year.
I have an account that was opened in October, a few years back, and each September I have received the letter informing me of my overdraft limit which has stayed the same for the last two years.

ok many thanks noh:T

Sally