Panicking and confused

shay14

so hmm yesterday i had like £5 in my barclays current account, then i look at it and it's now negative -£4.23.

I don't have an overdraft so how did that happen ?

also i have to pay my phone bill tommorow and i get paid the day after, what would happen then?

thank you

pmduk

Do you keep a regular track of amounts that you have spent? Check online/phone banking to find out exactly where the money has gone. As you don't have an overdraft, it's unlikely your phone bill will be paid.

shay14

pmduk wrote: »

Do you keep a regular track of amounts that you have spent? Check online/phone banking to find out exactly where the money has gone. As you don't have an overdraft, it's unlikely your phone bill will be paid.

yeah i do have online banlking, what i dont get is if i don't have an overdraft, why is my balance negative ?

Lokolo

shay14 wrote: »

yeah i do have online banlking, what i dont get is if i don't have an overdraft, why is my balance negative ?

You have gone into what is commonly called an unauthorised overdraft.

tbourner

They generally will pay payment requests rather than bounce back to the company causing you issues with missed payments etc. (assuming it's a direct debit). IMO this is a much better option although you will get charged an unauthorised overdraft fee (unless Barclays have a limit? I think Lloyds allow £6 in unauthorised overdraft, any more gets fee'd).
You probably won't be able to pay your bill on time though.

MichaelCR

shay14 wrote: »

so hmm yesterday i had like £5 in my barclays current account, then i look at it and it's now negative -£4.23.

I don't have an overdraft so how did that happen ?

also i have to pay my phone bill tommorow and i get paid the day after, what would happen then?

thank you

Firstly don't panic, Have you made alot of purchases over the weekend ? Did you have any charges from Barclays pending to go out of your account ?

You will be charged £8 for going into an un arranged overdraft, This will be on your next statement to be taken out next month. Then £8 there after for every month you are in negative balance, Thankfully you are with Barclays who only charge £8, Most other banks charge around £20, And Natwest from my knowledge charge £32.50 ?

Your phone bill will not be paid, And the Direct debit will be rejected by the bank, Which means you'll be charged a missed direct debit fee, Which is £8.

Is there anyway you can fund the account at all for now ?

shay14

MichaelCR wrote: »

Firstly don't panic, Have you made alot of purchases over the weekend ? Did you have any charges from Barclays pending to go out of your account ?

You will be charged £8 for going into an un arranged overdraft, This will be on your next statement to be taken out next month. Then £8 there after for every month you are in negative balance, Thankfully you are with Barclays who only charge £8, Most other banks charge around £20, And Natwest from my knowledge charge £32.50 ?

Your phone bill will not be paid, And the Direct debit will be rejected by the bank, Which means you'll be charged a missed direct debit fee, Which is £8.

Is there anyway you can fund the account at all for now ?

thank you and yes i will get money from my mother today. so in total i'll be charged £16, if i understand ?

MichaelCR

shay14 wrote: »

thank you and yes i will get money from my mother today. so in total i'll be charged £16, if i understand ?

If you can get the money into the account asap (Today) an clear the overdraft, Then you'll only be charge £8 from my knowledge which will be taken out of your account next month (The exact amount and date will be on your end of month statement).

If you miss the direct debit, Then you'll be charged £8 for that aswell, And there's a chance your bank will cancel the Direct debt, So you'll have to set it back up.