TSB Unfairly bieng charged

preciousb

Hi there i am a student with an overdraft of £1500

i went over the limit by 300 pounds, in total

They charged me around £90, £30 each day, max of £90 per month

i agreed to a payment plan of £94 pounds a month and was told to pay that amount in every month. So i agreed. They increased my overdraft to £1800.

Now what i did was use the account as its my main account. I put in £90 a month for the first month and used £30 as i needed it. I was not aware i was banned from using my account.

Then i got a call today saying as i used my card and am over my agreed credit limit and not meeting the agreed terms they want the full 2000 as thats what its on now with the charges. My limit decreased every time i put money in the account. I wasnt told that i wasnt able to use the account the first time a tsb representative called me so i was shocked.

They are asking for £100 a month until i clear the account. Is this fair?

They are taking my student overdraft from me totally and charging me continously around £90 each time

Is there anything ican do at all?

magyar

Two main issues here:
(1) The charges themselves are unfairly high and you can probably claim some of that back. Read the many threads and main board article on "reclaiming bank charges".
(2) The specific debt, which you will have to repay.

A few questions
- You say "max £90 per month" - was this just one month, then you agreed to the payment plan?
- When you said "they increased your overdraft to £1800" this doesn't seem to make sense... i.e. you go £1800 overdrawn, they charged you £90 (leaving aside the validity of this), making you £1890 overdrawn. So surely the first repayment of £94 would have put you within your limit?
- If you agreed to a repayment plan of £94 per month, but then actually put in £90 and withdraw £30 throughout the month, then you actually repaid £60 so you weren't meeting the agreed payments - is that right?
- Did the bank inform you in writing that your overdraft limit was being reduced?
- Did the bank inform you in writing that you could no longer use the account?

You say "they want the full 2000" - what does this refer to? Are you implying they are withdrawing your overdraft limit completely?
What are you referring to when you say "they are charging me continuously around £90 each time"?

In principle it seems that you have borrowed £1800 so you can hardly claim that the bank have "taken your student overdraft from you". The bank has no obligation to lend money to people who (a) go over their overdraft limits and (b) don't meet payment plans agreed.

As to whether £100 a month is fair, it depends on your circumstances - seems reasonable to me. But you should be able to reclaim some of the charges.

What would be your ideal solution to this?