Do the Banks pay up by cheque or not?

slouise

Hi All,

Have been claming from Natwest, Got the usual letter saying no fault of ours blah blah blah then an offer which was pleased about, the thing is as i'm overdrawn they want to pay the money into the account to pay themselves off. Have asked for a cheque but they say no, has anybody else had this? any suggestions would be very much appreciated as could with that money right now its about £500 ish looking forward to any replys.

ttfn :T

debtfreein2007

Hi there!

Just a very quick one - might sound like a stupid question but hey. I've gone through the first stage of the process by getting together my statements. I have added up just over £1400 in fines.

I haven't used that account in a few years though - can I ask them for a cheque? It won't do me much good if they deposit the money in that account.

Thanks!

CharleneUK

Hi all, any assistance would be much appreciated.

I am assisting my mum with reclaiming £730 of charges from Abbey.

They sent the initial letter about 'sorry to hear of your complaint' then a further letter 'we are fair blah blah, here's £50 as a goodwill gesture'

Anyway, have already printed off second letter for mum to send.

The problem is, mum has just entered into an IVA which also lists her overdraft. If she were to win with Abbey, would the money go straight into her account? She doesn't use this account anymore (opened a new one with HSBC last month) so currently just owes the overdraft. Should she close this account down so that she actually gets the money, as I'm assuming they'd have to send a cheque instead? Any advice much appreciated.

Edinburghlass_2

If she owes the bank money they will just re-open the account to put the money in there and close it again.

CharleneUK

Wow, really? OK, well I'll suggest my mum alter her figures slightly as there is no point paying twice (that's assuming she'll get her charges refunded!)

stewlk

after you have won with the bank which account do they put the money in as i`ve 2 accounts. my halifax which i dont use and is in the red,and thats the one i`m claiming for. i only use myabbey account,

Kurt_Hamster

If you are claiming back from the Halifax they will pay it into the Halifax account. They are entitled to do this to offset any debts you have with them.

You can of course bring this into any settlement negotiations and try to get them to send you a cheque instead.

Beate

If you are claiming with Halifax, that's where they will put their money in.

stewlk

i`m paying my debts off every month would that not help me getting it put in my abbey account

Kurt_Hamster

stewlk wrote: »

i`m paying my debts off every month would that not help me getting it put in my abbey account

Nope. The bank are quite entitled to pay it into the account the charges were raised on, they are also quite entitled to use it to pay off any debts you owe them.

Please don't look at this as a windfall that you can spend elsewhere whilst you still have outstanding debts with the bank. You would be better off using it to clear the debt, or at least a chunk of it if it doesn't cover the whole debt.

You can't force the bank to pay you by cheque, but you can certainly try to negotiate it.