Overdrawn Nat West Account - How much?

Tally-Ho_2

Hi,

Due to my own sheer carelessness, I went overdrawn on my Nat West Current Plus Account by £1.98 for 3 working days (26th to 28th Jan 2011). I do not have an arranged overdraft or anything and I have not gone overdrawn before. It was only one transaction (a debit card payment) which put me in the red.

As soon as I realised, I transferred on line some money from my Nat West Deposit Account to bring my Current Account back into credit. My salary has gone in today as well.

I realise I am going to be charged for my 'excursion' into the red (as I should be as it was my own fault - no excuses, I simply forgot about the transaction). What I cannot work out is how much and when I will be charged. All the literature I have refers to after 1st February when charges etc re all changing.

I got a letter today from Nat West advising me I am going to incur a 'Guaranteed Card Payment Fee' of £15 per transaction. Will the charge be only £15, or do I pay interest and/or transaction charges for a whole month or quarter or what???

I have never been overdrawn before in 4 years with them so I do not know how it is worked out. I am not trying to avoid paying as it was my own silly fault. However I would like to ensure I leave enough money in to cover the costs without it taking me into the red again (I have put a £100 buffer into the account - I just hope the charges will not be more than this)???

Thanks in advance for any help.

Tally

stclair

I would ask the bank nicely whether on this occasion they would be willing to waive the £15.00 charge.

You can call them on 02380 226443 and press option 2.

You may be able to find the information you require on your online banking:

https://demo.nwolb.com/PreAdviceInterestAndCharges.aspx

You may also want to consider registering for the Act Now alert service:

http://www.natwest.com/global/act-now-alerts.ashx

HappyMJ

You can ask for forgiveness on this occasion as stclair points out. They usually allow 1 refund per year without too much hassle.

Tally-Ho_2

Hi,

Thanks both.

It may sound odd but I am not trying to avoid paying the penalty. I would rather pay as it will concentrate my mind not to be complacent again.

I will register for the act now alert service though - I never knew it existed.

Many thanks

mclaren32

I would still give them a ring as it will probably have cost you £35 in total (guaranteed card payment fee + unauthorised o/d charge).

If there is no history of something like this happening I would consider waving the charges (I am an NWB Manager).

As a side note the Natwest charging structure is changing tomorrow where it will become £6 per day where there is an unauthorised o/d created.