Bank made me overdrawn

drakhan

I opened an account with TSB in June 2010 and it was an account were they charge £7.95 per month to use.
It is supposed to stop you going overdrawn.
I lost my job a month later. They put me overdrawn before i could do anything about it as i had to keep the money for other things.
Now i have recieved a letter stating they will set the lawyers on me for the charges of £100.95 that i owe them.
I had £3 in the account and they put me overdrawn.
I am no way in hell going to pay the money as they put me overdrawn. I didnt spend money to make me overdrawn.
They are refusing to wave the charges. What can i do.

opinions4u

Bank made me overdrawn

They put me overdrawn before i could do anything about it as i had to keep the money for other things.

The bank didn't make you overdrawn. Your own inaction did.

Did it cross your mind to talk to your bank prior to the moment where "they" put you overdrawn?

Ask again, nicely, for a refund of charges.

bendix

drakhan wrote: »

I opened an account with TSB in June 2010 and it was an account were they charge £7.95 per month to use.
It is supposed to stop you going overdrawn.
I lost my job a month later. They put me overdrawn before i could do anything about it as i had to keep the money for other things.
Now i have recieved a letter stating they will set the lawyers on me for the charges of £100.95 that i owe them.
I had £3 in the account and they put me overdrawn.
I am no way in hell going to pay the money as they put me overdrawn. I didnt spend money to make me overdrawn.
They are refusing to wave the charges. What can i do.

Whether you like to hear it or not, the bank did NOT put you overdrawn. YOU put you overdrawn.

You opened an account which you knew cost you £7.19 to use. That is money going out of the account. You didn't put money in the account to pay for this. Ergo, you spent more than you had and went overdrawn.

It is not the bank's fault. It is, sadly, your fault.

xyz123

OP- am affraid you are not going to get any sympathy here. if you need some help with debt problems post on relevant board here but otherwise you have no ground to stand on except to ask bank nicely to remove the charges...its your problem, why didnt you close the fee paying account when losing the job?

jonesMUFCforever

It sounds like you opened a Silver account (£7.95 fee).
There is nothing in the terms and conditions of this account to stop you going overdrawn.

To get this facility you needed to tell the bank they would have put 'Control' on it - but this costs £10 per month!

I don't think we have had the full story here have we.

If you don't make an effort to repay then your credit history will be shot - too bad if you need any new credit for the next 6 years.

Adams1

Seriously, you know talking solves most of my things. Pick up the phone, speak to an advisor, obviously no help so always at the end ask for a supervisor, but you need to put on a real sad voice. Tell them you've lost your job, and you have no money to your name and you'll be signing onto the Job Centre soon.

They can't ask you to pay back the money in such a situation. The supervisor will probably wave the charges. If not, you'll have someone call you back. If you make it 100% clear to them that you CAN'T pay for it, they should sort you out. I had a similar case happen with Santander... Without me knowing, the overcharges for opening up a bank account (charge for protection for £35 a year) went well over £200, I called up, told them the situation, I made it clear that I CAN'T pay for it due to financial struggles, nor can anyone else loan it to me, they tried to offer a repayment plan, and also tried to get me to speak to the loan sharks (sorry, I meant the debt recovery agency, lol) I refused repeating that it wouldn't make a difference, and the waved the fees. (because they are fee's and not actual money you own them, so it's money they created, they don't loose anything by waving charges they add.)

You could also say that its your a new customer and this is the first time something like this is happening, and that you where planning on using this account as your main account in the future. (smooth talk )

Adams1

xyz123 wrote: »

OP- am affraid you are not going to get any sympathy here. if you need some help with debt problems post on relevant board here but otherwise you have no ground to stand on except to ask bank nicely to remove the charges...its your problem, why didnt you close the fee paying account when losing the job?

It's normal to forget things, you know. Some men don't have wives to chase them up and down with things they forget.

adamc260

Thats what I hate about banks, people do go overdrawn (we're human after all) but being about £4 overdrawn doesn't cost them £100 =/. Especially from a bank thats partly government owned, you'd think they'd be a bit kinder... probably thats how they claw their money back after paying out all those big bonuses!

[Deleted User]

likewise its best to pay it
bank no error in my view

Loughton_Monkey

adamc260 wrote: »

Thats what I hate about banks, people do go overdrawn (we're human after all) but being about £4 overdrawn doesn't cost them £100 =/. Especially from a bank thats partly government owned, you'd think they'd be a bit kinder... probably thats how they claw their money back after paying out all those big bonuses!

If, when people went overdrawn, they would all just kick themselves, pay up, and get back on track, then you are right.

However, you only have to read a thread like this to see the blindingly obvious - all those phone calls. The letters. They can't do this for nothing.

Also, show me the list of every account that today went overdrawn [let us say by an average of £200]. What proportion of this (forget the charges) are they going to get back?

Don't get me wrong. I'm not a big fan of banks myself. But like the vast majority of customers, I would prefer to receive no charges (they get interest on my money after all) and I would prefer the costs of all their chasing, listening to sob stories, losses on overdrafts etc. all to fall on those that make them necessary.

opinions4u

adamc260 wrote: »

Thats what I hate about banks, people do go overdrawn (we're human after all) but being about £4 overdrawn doesn't cost them £100 =/.

I've not looked at the charging structure of the account, but how many warnings must the OP have ignored to get this far? T&Cs. Charges published on the web site. Details on statements. Text messages sent. Warning letters sent.

Especially from a bank thats partly government owned, you'd think they'd be a bit kinder

Why? Genuine question? Why should a Government owned bank suddenly become some sort of charitable organisation?

Why do people think "Government" should give them stuff free? Does the post office deliver letters for free? Does a passport come for nothing? Are driving licences being handed out on a bogof basis to twins?

Why should taxpayers, who have already subsidised the bank then have to go a step further and subsidise those customers of the bank who aren't prepared to take responsibility for their own finances?

The overwhelming majority of bank current account charges are completely avoidable.

The title of the thread "bank made me overdrawn" and your belief that "bank thats partly government owned, you'd think they'd be a bit kinder" sum up everything that's wrong with attitudes in society these days. It always somebody else's fault and somebody else who should sort things out.