Trying to reduce overdraft with Santander - nightmare!!!

MissyBee

I have been trying for about 4 months now to reduce the amount of my overdraft facility with Santander, in order to try and bring me back to a positive balance each month.

The whole experience has been a nightmare - I have still not managed to convince them to let me reduce this by £100. I've spoken to them via phone, email and in 2 branches, and have also made 2 complaints...still no joy.

I could understand this if I was asking to INCREASE the overdraft facility, but what is the issue with me owing them less money??

Has anyone else experienced this? Any advice gratefully received.

jonesMUFCforever

You don't have to get them to reduce the overdraft facility just spend less and the balance will come back into credit eventually.

Indeed reducing the facility increases the possibility of you going over should you have a bad month which means more bank charges and you back to square one.

MissyBee

Thanks, I realise I don't have to reduce it - just trying to avoid temptation!! I would aim to keep a small facility (say £100) for emergencies, but it's £850 at the moment and I seem to keep using it!

CLAPTON

MissyBee wrote: »

Thanks, I realise I don't have to reduce it - just trying to avoid temptation!! I would aim to keep a small facility (say £100) for emergencies, but it's £850 at the moment and I seem to keep using it!

if they do indeed reduce your overdraft limit but you lack the will power to contain your spending, you will end up with charges and fees and a poor credit rating

maybe put the energy into controlling your spending rather than complaining to sntander

MissyBee

I understand what you're saying about spending but I still don't see why I cannot choose to lower the amount of my overdraft facility if I want to. It's possible to lower the limit on credit cards, so why not this?

Fishingtime

I have had the same thing with the HX in the past.
I could up my overdraft online but I had to go into the branch twice to get it lowered

MissyBee

yoxford2008 wrote: »

I have had the same thing with the HX in the past.
I could up my overdraft online but I had to go into the branch twice to get it lowered

Yes exactly - when I increased it in the past it was done in 30 seconds over the phone but reducing it seems next to impossible. I guess I just don't understand what the issue is but it looks like I will just have to get my balance back to positive through willpower!

jonesMUFCforever

............But if you are using it it will cost you loads in bank charges when it is reduced - the only answer is for you to spend less - not rocket science I know but true.