Nationwide £20 fees

plunt

hi all,

my sister recently went into her overdraft accidently by about £5 pounds. As soon as she found out she got funds into her current account immediately (in fact she has over £5k in a sub/savings account with nationwide!). However at that point she got £20 pounds in overdraft fees on the fact she went into her overdraft by a tiny amount.

crazy in my mind. any idea if she will be able to get all or even some of this back. Oh and she is a student and new to banking....


ideas?

zppp

plunt wrote: »

hi all,

my sister recently went into her overdraft accidently by about £5 pounds. As soon as she found out she got funds into her current account immediately (in fact she has over £5k in a sub/savings account with nationwide!). However at that point she got £20 pounds in overdraft fees on the fact she went into her overdraft by a tiny amount.

crazy in my mind. any idea if she will be able to get all or even some of this back. Oh and she is a student and new to banking....


ideas?

If she has had no charges are excesses on the account before, I would suggest she contacts them by phone and requests they waive the charge on the first occasion. It may be worthwhile that she leaves a couple of hundred pounds in the account to act as a buffer in future though.

plunt

yep first and only charge she has ever got from any bank. and yes she now leaves a bufffer to stop this from happening again (not to mention i gave her a hard time about it!)

will get her to call them up.

Lawpf2001

Used to work at Nwide. If she calls up she should be able to have it removed. Assuming she hasnt had any removed previously.

Nationwide have a policy called first time only which basically means under certain circumstances you can have charges removed. From my memory she fits two circumstances. 1. Paid money back in straight away and 2. Was under £30 overdrawn.

As you said in the above post. Always have a an overdraft but act as if its not there. That way if something does knock you into the minus you dont get any nasty fees only a tad of interest possibly.

plunt

great thanks for the good info. as for the overdraft that what i have told her to do, as far better than what occured. then again with my banks i have grabbed my 0% student over draft and stuck it into savings. but then again, not everyone spends their days on money forums like us lot!

Lawpf2001

I was so tempted in doing that as well when I joined uni as well. Pretty glad i didnt though as I always seem to get pushed overdrawn at the end of a month. One thing I learnt from working at Nwide was avoid payday loan sites and charges like the plague.

plunt

yep, attempted to open one a student natwest one (they already offered me a £1600 overdraft), which i would been allowed to do if i follow certain criteria in using the account. turns out they lost all my copies of my passport and other student stuff. so been in disputes about loss of personal sensitive details and so forth since september. oh and funnily enough, they told me to post a letter to their edinburgh 4 weeks later no reply, called them and they accidently told me a ton of customer messaging that had not heard replies and they were having massive issues with any complaints sent there! and the ladies on the phone said "i would hope someone in the bank would have found it and dispossed off it properly." asked if she was sure and she said well i cant be certain. so we shall see

tempted to open a barclays student account aswell. crazy how they just throw money at students, similiar to drugdealers giving out free drugs to get people hooked!



as for pay day sites i couldnt agree more! you are better of going to a site like zopa and asking for a longer term loan and then pay it off early. and you will still be paying less than the 2000% APR some of those places charge!

Lawpf2001

You can obviously can only have 1 student account. There was a stat saying that people are more likely to get divorced than switch bank account. So if they can hook people in at a young age they have an almost certain customer for life.