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Help! What are the bank obliged to do?
Katg1
Posts: 23 Forumite
Hi I was wondering whether anyone knows whether banks are obliged to let you know you are over your overdraft limit? I had a dormant account which was accruing interest which caused it to go over it's overdraft limit without my knowledge. I have had 3 months late payments added to my credit file without my even knowing I was over my limit.
Anyone know whether they are meant to send out letters to let you know you are over your limit?
I have since closed the account, but this is going to do noting to improve my credit rating. Really concerned as we have a mortgage application going through at the moment.
Anyone know whether they are meant to send out letters to let you know you are over your limit?
I have since closed the account, but this is going to do noting to improve my credit rating. Really concerned as we have a mortgage application going through at the moment.
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Comments
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What did the T&Cs say?
Have you heard of the Internet? It enables you to check things like this. It's quite good.0 -
I have looked on the Internet... which is what lead me here! Yes, I have checked t&cs but couldn't see it detailed.0
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Which bank and which account? Were statements sent either in paper or paperless form?0
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Which bank was it? Banks like Halifax, Barclays, First Direct and others will send you a text message when your balance is less than a predetermined amount (set by yourself).
Otherwise they'll just send you a statement of charges once you are into an unauthorised overdraft.0 -
Yes, in hindsight that would have been a very good idea. Hadn't touched it in the last two years. I had tried to close it over the phone, but was advised I had to do it in the bank and never got to it. Stupid I know, don't need a lecture! Just want to know where I stand with regards to the letters from the bank. Are they obliged to let you know you are over your limit?
Was hoping this might helpe to get them to remove the marks from my credit file.0 -
Current account with Barclays0
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