Natwest charges

linnieb25

Hi guys,

I hope someone can help me. This last month I have been overdrawn twice - i'm not disputing this was my fault! The most I was overdrawn by was £20. On both occasions the money was put back into my account either the same or next day. I looked at my bank this morning and Natwest have charged me £72 this has now sent me overdrawn again and I can see this circle continuing. What can i do?

Thanks

BigBlueBadger

If NatWest has charged you an unarranged overdraft fee of £72.00, then you must have been in unauthorised overdraft for more than two days.
NatWest charges £6.00 a day, so you would have been in unauthorised overdraft for 12 days to have been charged that much.
I would check your statement to see when it went into unauthorised overdraft and when it was corrected.
This should equate to 12 days.

dunstonh

What can i do?

Only thing you can do which is in future, do not withdraw money that is not in your account. If you dont do that then you wont get charged.

leclerc

linnieb25 wrote: »

Hi guys,

I hope someone can help me. This last month I have been overdrawn twice - i'm not disputing this was my fault! The most I was overdrawn by was £20. On both occasions the money was put back into my account either the same or next day. I looked at my bank this morning and Natwest have charged me £72 this has now sent me overdrawn again and I can see this circle continuing. What can i do?

Thanks

As BigBlueBadger has said, it mus not have been for that short a period. I would ring up the bank and clarify whether it was for longer, perhaps a cheque clearing(that's just me speculating). Ignore Dunstonh, after all, I think you don't need to know the blindingly obvious but want to understand why the amount was so high.

dunstonh

Ignore Dunstonh, after all, I think you don't need to know the blindingly obvious but want to understand why the amount was so high.

The OP didnt say that they were looking at the amount being high. Just to know what to do. The answer is not to incur them in the first place. Just as Martin says in his article on bank charges.

leclerc

dunstonh wrote: »

The OP didnt say that they were looking at the amount being high. Just to know what to do. The answer is not to incur them in the first place. Just as Martin says in his article on bank charges.

Stating the blindingly obvious to the OP does not help them understand why the amount is so high. Have we all lost the ability to say, "Speak to the bank and ask them?" cos that is the way the post felt.
If Martin was answering the question do you think he would say don't get charges in the first place to answer why he was charged the amount he was in the first place?

For most of the last 5 years or so on the reclaims sites, I've written how charges work because if the person does not know the mechanisms for charging which can include a charge causing further charges then they don't know how to avoid them ie they take money that should be left to cover previous charges. Furthermore, in this instance, it's clear that they do understand that they made a mistake on their finances since they clearly state: "it was my fault". What they do not understand is why the amount is that high based on the fact that they deposited money into the account either same day or day after, which means that stating, don't get charges in the first place does not help explain why they did get charged so much based on their statement. They understand that they should be charged but £72 divided by 6 is 12 which suggests 12 days overdrawn. The same day or the day after suggests that either this was not the case or there may be other factors in play.

Dunstonh, the OP wants to understand why the amount is so high because the charges now mean more charges. I hope the long winded explanation is good enough an answer.

Wellery82

I'm also with Natwest and realised one of my two accounts was 92pence over my overdraft limit today. I transferred a pound from my ISA (which is in credit) immediately to cover it but it has been overdrawn by one day.

Does anyone know what, if any, charge i can expect?

zppp

Jimavfc82 wrote: »

I'm also with Natwest and realised one of my two accounts was 92pence over my overdraft limit today. I transferred a pound from my ISA (which is in credit) immediately to cover it but it has been overdrawn by one day.

Does anyone know what, if any, charge i can expect?

As long as it was 92p, nil. There is a £6 buffer in place on current accounts with Natwest.