Natwest just cancelled my overdraft!

one_bill_at_a_time

AAAAAAA

Natwest randomly changed the status of my account and removed my overdraft facility without any warning... I'm in copenhagen and have no cash, thankfully I got a larger paycheck this month but if it hadn't been for my parents helping me out I wouldn't be able to pay most of my bills for april.

Can they do that? I've also lost my relationship manager for an unspecified reason and I think they've done something to my credit rating as the system rejected their attempts to reinstate it.

NEed to wait 5 working days for them to investigate.

So upset and angry right now.

So stuck in a foreign city with no money and no desire to do anything at all :-(

vent over.:mad:

ironlady2022

An overdraft can be recalled at any stage and the bank can demand a full payment. does your salary always go in? Have you had problems with unpaid DDs or going over your overdraft?

talana

The bottom line, I'm afraid, is that overdrafts can be withdrawn at any time, for whatever reason.
OD's are not really there for long-term borrowing. If you find you're living in yours almost constantly then that's a sign you need to get hold of your finances a bit more.
I appreciate the timing seems bad on this occasion as you're out of the country, but talk to them as soon as poss and arrange a schedule to pay it off. It would be nice to know why it was withdrawn, but ultimately they don't need a particular reason.

one_bill_at_a_time

I know they can withdraw it at anytime but they have to give some form of notice surely? It's hardly responsible to just remove it and not tell you they plan to. Not exactly "helpful banking" is it?

My salary always goes in to this account and I don't go over the o/d ... in fact I've been reducing my overdraft significantly over the last few months as I've got my finances under control ...
I've spoken with them today but they can't do anything until Monday as they've also removed my access to my 24/7 banking team without telling me. It's like they're punishing me for beginning to get things under control!

I'm hoping it's an error they will rectify.
I've been with them for 10 years but probably not for much longer.

Twister84

Sounds like there's been a limit on there which has expired. This would have been on the overdraft confirmation which you should have received when you first got the overdraft facility. However if your 24/7 access has been stopped, I can only imagine what's happening.


Also Relationship Manager's don't just disappear - they are either replaced, or the customer is moved into another appropriate portfolio. Either way you would have been advised of this certainly.

Let us know how it goes.

KingElvis

Yep, it's gone and I would expect it won't be coming back.