Overdraft charge for under 18?

jackhowson

Hi - just need a couple of quick answers.

I'm 17 and have a standard current account with Natwest that I opened about a year ago.

About 6 months ago, I had a £200 online purchase come out of my account with a £100 balance. Due to the time the company took the money (I purchased on a Sunday, they took the money from me on a Monday), Natwest for some reason allowed me to withdraw my £100 balance from an ATM.

Obviously I had no overdraft, but when the payment was taken, it left my account with a negative £100 balance, but I had that £100 in cash.

Since then, I've heard nothing from Natwest and stupidly not chosen to act on it, but I'm coming up to my 18th birthday, and what I'm wanting to know is will they begin charging me on my negative balance when I turn 18?

Secondly, will the fact I have a negative balance on an account with them prevent me from opening a student account with them later on?


Cheers.

Twister84

Situations like that do happen, especially at weekends. It also depends on the company as to when they take the funds from your account.

If anything, I'd let this be a lesson, as it sounds like you have a non-chargeable account. When you upgrade, which will be soon if you're turning 18 soon, if you don't have an overdraft facility you will start getting charged the £6 a day like everyone else.


As you thought, it could prevent them from giving you a student account until you pay the excess off. I'd speak to your branch asap regarding this.


I'd get into the habit of checking the balance on your account. You can do it online, on your mobile and several other ways.

CLAPTON

quite bizarre

why are you behaving in this manner?

Helix

jackhowson wrote: »

Hi - just need a couple of quick answers.

I'm 17 and have a standard current account with Natwest that I opened about a year ago.

About 6 months ago, I had a £200 online purchase come out of my account with a £100 balance. Due to the time the company took the money (I purchased on a Sunday, they took the money from me on a Monday), Natwest for some reason allowed me to withdraw my £100 balance from an ATM.

Obviously I had no overdraft, but when the payment was taken, it left my account with a negative £100 balance, but I had that £100 in cash.

Since then, I've heard nothing from Natwest and stupidly not chosen to act on it, but I'm coming up to my 18th birthday, and what I'm wanting to know is will they begin charging me on my negative balance when I turn 18?

Secondly, will the fact I have a negative balance on an account with them prevent me from opening a student account with them later on?


Cheers.

I very much doubt you will be able to open a student account with Natwest. Your internal rating with them will be very poor due to being £100 overdrawn for 6 months without an overdraft facility and not bothering to do anything about it.

pcombo

If you dont pay it back they will charge you when you turn 18.

So just pay it back since it wasn't yours to actually take.

ashaput

As long as I know you should pay it back, or else they will charge you some fees and quite high interest rates. Sorry I only know little about this, so please double check my advice

hcb42

OP what do you think you should do?

JonnyDixon

I did this and went overdrawn by £6 and got charged £40, Can i claim that back or is it not bank charges?

izools

JonnyDixon wrote: »

I did this and went overdrawn by £6 and got charged £40, Can i claim that back or is it not bank charges?

No you can't charge it back you knew what the charging structure was when you opened the account, you agreed to their terms, and you chose to process transactions on the account which would put you in an overdrawn situation.

jackhowson

Look, of course I know what I should do - repay the £100 before my 18th, and I will.

All I was wanting to know was whether the fact that I'd gone 'overdrawn' before my 18th would mean that the negative balance wouldn't register as overdrawn when I turn 18.

But thanks for all your advice anyway

babyharry5

jackhowson wrote: »

Look, of course I know what I should do - repay the £100 before my 18th, and I will.

All I was wanting to know was whether the fact that I'd gone 'overdrawn' before my 18th would mean that the negative balance wouldn't register as overdrawn when I turn 18.

But thanks for all your advice anyway

Hi there
why did you want to know if it would show?? if not, then you would not pay it back?
Whether a bank "allows" you to withdraw money from the machine or not, you know that you had already spent it & more!
I'd suggest pay it back as soon as you can and as others have said let this be a lesson.
As soon as you turn 18 you will no longer be able to get away with things like this.
Similar behaviour in the future will cost you short term ( fees & charges) and long term ( poorer credit history)
it may not seem that important now but when you are older, got a girlfriend & looking to settle down, wanting a mortgage etc, things like this come back to bite you on yer bum!!
:)best of luck