Overdraft exceeded but rectified on same day

dave76

I have an overdraft with First Direct and have mis-timed some payments so exceeded it by about 50 pounds this morning. I immediately transferred some money into this account to bring it back inside the limit - any idea if I will get hit with a charge for that even though it was rectified on the same day?

Hooloovoo

The one time I did this (not with First Direct) they still charged me, so I would expect that you will get a charge.

The best thing is even though I had about £30K in a saving account with my bank so I never technically went overdrawn when considering all accounts, they still charged. Barstewards.

meer53

If your account is now back within it's limit you shouldn't be charged, just call them to make sure there's nothing else waiting to debit that may take you over again later today.

dave76

yeah I have just called them and apparently it is fine if you go back inside the limit on the same day, otherwise it would be a £25 arrangement fee. However, the lady did say they could have rejected the payment too so dont count on it not being a problem.

I am always very careful with these things but got a bit stuck this month after setting up my new coop account and wanted to transfer funds from that to my FD account but having to use their damn card reader which I didnt have to hand stopped me! (I since found out I can very easily do that with coop telephone banking with no need for the card reader)

Gromitt

Hooloovoo wrote: »

The one time I did this (not with First Direct) they still charged me, so I would expect that you will get a charge.

The best thing is even though I had about £30K in a saving account with my bank so I never technically went overdrawn when considering all accounts, they still charged. Barstewards.

I did this with Nationwide, withdrew £100 via a cash machine when my account only had £13 in. Repaid that night. Got charged £29.

Then I did it again the same month, but over by about £150 for about a week before I noticed. £38.

Rang up and asked for the charges to be cancelled. They had a look through my accounts and then decided to cancel all the charges. Must of liked the look of my accounts in general as they then refunded the interest at the end of the month too! Even though it was only 12p.

So if you do get charged, give them a ring and apologise. They might just refund the charges for you.