Santander withdrew my overdraft facility on my pay day with no warning!

anybloodybody

mmmmmmmmmmmmmmmmmmm

Lokolo

1) loads of people
2) no, its in the terms and conditions that overdrafts can be cancelled at anytime without notice
3) no
4) no
5) not them

Overdrafts are there for short term borrowing, not longterm. Banks are cutting down on these to get rid of "bad debt".

The FOS will unlikely give you any hope either.

AnonymousForObviousReason

Legally Santander (and any bank) can withdraw their overdraft without warning and ask for payment, check terms and conditions to confirm that rule for the 30 day notice you mentioned. It is usual for banks to provide some notice.

Anyone else had a similar problem? Not me - but I don't use my overdraft so obviously wouldn't try to remove it would they.
Can I legally ask for compensation? Yes - if they ever admitted they didn't send the letter or can't prove they did.
Can I take Santander to the Small Claims Court? Yes, for breach of contract - you really need to confirm the T&C was breached by them and it caused all these problems.
Or can I encourage Santander to take me to Court for refusal to pay their charges, so we can sort this nonsense out? No, why would they - they'll just keep hitting you with charges and if you lose you'll be in real big trouble.
Didn't I pay a lot of tax recently to bail out these banks? - Not Santander as far as I know, they were financially okay (probably at expense of its customers)

Edit: Lokolo got their points in first, and I give almost completely contradictory advice this is for clarification.
Re Lokolo points, I agree unless it's in the terms and conditions they will give 30 days notice and didn't.

vaporate

You should be given notice. Otherwise everyone would be paying fees with a carpet being pulled under their feet.

I would fight it.

simon_the_poet

Hi

Isnt this a bit self rightous. I agree with what is being said but dont we all make mistakes somtimes. The lending code is supposed to ensure that banks deal sympathetically with their clients isnt it have a look through their codes of practice.

Simon

AnonymousForObviousReason

Okay got bothered by the 30 day rule. Found:
http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223407123779&cachecontrol=immediate&ssbinary=true&maxage=3600
on page 16 you'll see 7.4 b

We will usually give you 30 days’ notice of our intention to change your Arranged Overdraft limit or repay the
whole or any part of any overdraft, however we may do either of these things without advance notice to you where it would be reasonable for us to do so.

Basically indicates you're probably screwed, you need to prove it was not reasonable for them to give you extra notice. Reasonable appears quite a lot in contracts and laws, it's a wonderful way of not having any defined parameters.

Did you get anything in writing saying our mistake, or as we can't prove X we'll remove the charges and do Y? you may be able to get them to follow through their promise. Good luck

simon_the_poet wrote: »

Hi

Isnt this a bit self rightous. I agree with what is being said but dont we all make mistakes somtimes. The lending code is supposed to ensure that banks deal sympathetically with their clients isnt it have a look through their codes of practice.

Simon

Not sure what you mean by the self righteous comment, it's just the facts.

Lending code is voluntary for banks ... brings the words "use" "hurricane" and "fart" to mind.

Lokolo

simon_the_poet wrote: »

Hi

Isnt this a bit self rightous. I agree with what is being said but dont we all make mistakes somtimes. The lending code is supposed to ensure that banks deal sympathetically with their clients isnt it have a look through their codes of practice.

Simon

The OP has been using and most probably in the overdraft for 5 years. I would have sympathy if they needed it for a month or 2, and the bank withdrew it. But why someone would want to be in their overdraft for 5 years like that just seems a little silly to me.

vaporate

Lokolo wrote: »

The OP has been using and most probably in the overdraft for 5 years. I would have sympathy if they needed it for a month or 2, and the bank withdrew it. But why someone would want to be in their overdraft for 5 years like that just seems a little silly to me.

Doesn't matter if it was 50 years, you SHOULD be given at least 30 days notice and users should be prepared for that 30 day notice.

Just pulling the overdraft on that day and charging fees on that day is not on.

It would be great if the public boycott all overdrafts, especially with santandire.

simon_the_poet

Lokolo wrote: »

The OP has been using and most probably in the overdraft for 5 years. I would have sympathy if they needed it for a month or 2, and the bank withdrew it. But why someone would want to be in their overdraft for 5 years like that just seems a little silly to me.

Maybe, lets hope we are all as sensible as you obvously are all the time.
I dnt think the OP is trying to evade the debt.
I am sure an equitable solution could be found and i think the bank should at leat should bear some of the responsibility and assist, ater all i presume they have been drawing interest all this time.

Simon

fozmcfc

Ok, others are correct, it is madness to basically live in your overdraft all the time and be up to the limit paricularly.

BUT.....I do think Santander knowing this cannot say it is reasonable just to withdraw it with no notice.

In this case, I think the OP could say it isn't reasonable of Santander to withdraw it without notice.

The real problem for the OP is unless they can do something drastic, even 30 days notice might not be enough.

OP, even if Santander look at it and agree to re-instate it and give you the full 30 days notice, are you able to re-jig things so you don't have to rely on it.

You need to take a serious look at your financies and start to sort yourself out, having to rely on a £1,500 overdraft every month, is just not good.

Good luck with your complaint, but you have wider issues that need addressing.

AnonymousForObviousReason

Lokolo wrote: »

If you go to edit post theres an option to delete

Will try again, last time I hit the button returned me to the same page without deleting anything. Of course it'll make you look like you're quoting something I never said now, will have to change this to saying, "What you on, never said that" or some such arsy thing.

Edit: Never mind, I don't think changed the Delete option in the radio button. Thanks Lokolo