Bank wont let me repay overdraft?!

Shev85

i bank with santander, and have a £150 overdraft, so i went to pay some of it off today, just £10 i thought and then i would start paying it off week by week as I am a single parent, only to be told by the bank it has to be in multiples of £50 which i just cant do as I dont have that kind of money spare, and they cant do a payment plan as I am not in debt with it, so I feel like they are telling me to run charges up and spend more to be able to negotiate a payment plan, all i want to do is pay it off so I dont have an overdraft and the bank would get their money back?????? anyone know anyone who i can talk too? my previous bank was halifax and you can pay back £1 at a time if your paying it off, i just dont understand the logic????:mad::mad:

pcombo

why not just put £10/15/20 in a savings accont every week and you can reduce it that way.

redped

Why not just put the £10 aside, and each week (if possible) put more towards it? When you hit the magical £50, then pay that amount off the overdraft.

If you're concerned about dipping in to the money before you hit £50, then perhaps ask someone you trust to look after the money for you?

Edit: Beaten to it by pcombo!

anniecave

Or is that just a restriction on cash payments over the counter?

If you have an account with another provider that allows you to make payments to other banks/building societies, then you could try making a payment that way? The worst that could happen is the bank would reject the payment and it would bounce back, but I can't imagine that would happen....

Sailmakers

No restrictions on cash payments. OD's operate on £50 increments, get over it...

hermante

Sailmakers wrote: »

No restrictions on cash payments. OD's operate on £50 increments, get over it...

I don't understand, why can't you just deposit £10 into the account?

Ben8282

hermante wrote: »

I don't understand, why can't you just deposit £10 into the account?

I agree. How can the bank insist that you can pay-in to what must be a current account of some kind as it has an overdraft facility only in multiples of £50?

Crixus00

i read this thinking am i missing something, pay it into your account and it will reduce the overdraft by £10 no?

if not, someone care to explain how it works, thats sure how it works at halifax

jizzler

Crixus00 wrote: »

i read this thinking am i missing something, pay it into your account and it will reduce the overdraft by £10 no?

if not, someone care to explain how it works, thats sure how it works at halifax

correct but by santander doing this gives them more money from those who cant afford to pay back into the account £50 a time because they charge something like 50p a day on an overdraft :cool:

Crixus00

so if the OP can pay into a seperate account and transfer it over, then they have to accept it? just another reason why i will never deal with those clowns

Xbigman

Maybe the OP meant they wanted to pay in £10 and reduce the overdraft by that amount? The OD limit can only go down in £50 increments?




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