Santander overdraft

ghost_whistler

I have an authorised overdraft with Santander that, come next month, will be unmanageable. I don't have enough money to take me out of that and with the change in their overdraft costs i'm going to get charged way more than I can afford.
I barely use the account anyway and have tried closing it down and offering to pay them £3 (what i pay currently as a result of being overdrawn) a month. They aren't interested. Now the situation is urgent because their policy changes in the middle of March.
How can I get them to listen? I don't want the account, I don't have the money to just clear the overdraft and close it normally, and I can't seem to make them listen.

Thanks

izools

Of course they aren't interested, it's not their responsibility to pay for your financial ineptitude.

You should look over your prior months' bank statement and identify several areas to cut back.

Do this every month and within a year I'd be surprised if you still had an overdraft atall. It's easy to see where money is being wasted when you check your actual bank statements. Be strict, don't tolerate any excuses from yourself, and decide to spend less. Don't try - decide.

If you don't want the account, then use your cut backs to reduce the limit each month, even if by a small amount, and once it's at £0 you can close the account.

Simples :beer:

ghost_whistler

Are you trying to provoke an argument? You've completely ignored what I said.

YorkshireBoy

£3 per month would imply you're using your overdraft for 6 days (50p per day)?

If that's the case the cost 'only' doubles to £6 per month doesn't it? Are things really that tight?

izools

ghost_whistler wrote: »

Are you trying to provoke an argument? You've completely ignored what I said.

Not atall, I'm just apraising you of the reality of the situation.

You entered into an agreement with the bank to have an overdraft facility which is subject to terms, you also agreed that these terms are subject to change, and you also agreed that the overdraft is repayable, in its entirity, on demand.

Overdrafts aren't regulated by the Consumer Credit Act 1974 like Credit Cards so the bank are well within their rights to do this as and when they please. As they aren't regulated by the CCA1974 there is no opt-out as there is with credit cards, and you have absolutely no grounds for complaint or a request to have the extra fees waived.

Just as you are well within your rights to pay off the overdraft, close the account and bank elsewhere.

I phrased my response in the way I did because it appears to me that you aren't going to have this problem resolved unless you turn your opinion of who's to blame on its head. The bank aren't going to help you fix this, you'll have to fix it yourself through your own actions.

If you want an overdraft that is cheaper to manage, move to a bank with a cheaper overdraft. If you don't want an overdraft atall, make some cut backs and reduce the limit by a small amount each month.

Like I say...

Simples :beer:

ghost_whistler

I think you've got a massive chip on your shoulder.

izools

ghost_whistler wrote: »

I think you've got a massive chip on your shoulder.

You can take my advice or leave it, it's an open forum.

I'm just appraising you of the facts. You can take them on board, or pretend they don't exist.

It's your perogative :beer:

paulmcerlean

ghost_whistler wrote: »

I think you've got a massive chip on your shoulder.

I dont think she does to be honest - sounds like sound advice to me.

izools

OH... He. Lol everyone gets that wrong if they've read me talking about my OH also being a he :rotfl:

Thanks though

ghost_whistler

YorkshireBoy wrote: »

£3 per month would imply you're using your overdraft for 6 days (50p per day)?

If that's the case the cost 'only' doubles to £6 per month doesn't it? Are things really that tight?

I would be charged £7 (give or take). This i can't afford so, yes, things are that tight.

Not only that but it is impossible to use this account. I don't live in town and there are no free ATM's near me (£2 Link machiens only) and this account is incompatible with over the counter services at the PO. I get to town rarely and even then, their recent restrictions to how much you can take out over the counter (plus their generally rubbish counter service) make everything about this account unfeasible.

And to respond to the first respondent's first, rather unpleasant and hypocritical point: I'm not asking them to bail me out. I'm offering to pay what I can. If said respondent cannot understand the difference may I suggest finding a different forum than this?

ghost_whistler

izools wrote: »

You can take my advice or leave it, it's an open forum.

I'm just appraising you of the facts. You can take them on board, or pretend they don't exist.

It's your perogative :beer:

You didn't provide any facts. You misread the post, made massive and ignorant assumptions about me and my finances and decided instead to issue judgement, not advice. The fact that someone else might agree with you proves nothing. I came seeking advice, not the prejudice of the high minded, and I'm certainly not going to tolerate that just because I'm new.

If you wish to offer advice I'm more than happy to hear it and judge it's merits accordingly. If you are going to make sweeping statements and assume facts not in evidence (such as assuming that I'm blaming anyone when i made no such comment at all or gave any indication of such) then find someone else to prey upon.