Bank wont let me repay overdraft?!

pqrdef

Sadly I think we're may have to admit defeat on this one and admit that the word overdraft has changed its meaning. So many customers use the word incorrectly, it seems bank staff will misunderstand a customer who uses it correctly. So if the customer mentions reducing an overdraft, the teller will answer the wrong question.

Interesting that Sailmakers, who seems to work there, has also misunderstood the OP and misused the word himself.

Perhaps the training for bank staff should include a warning that they may occasionally encounter customers who do know what an overdraft is and use the word correctly.

koike09

hope things are good with u

Shev85

yes I can save the money and pay it off that way, I used to bank with Halifax and you can pay off as much or as little as you like, my point being is that I am trying to pay back the bank in my own way and i'm at a stand still with them, I have an agreed OD so I dont get charges unless I live in my OD which I dont, I'm just trying to do the right thing and not be in debt with the bank in anyway

pmduk

You can pay any amount into your account. Having an overdraft facility doesn't mean you have to use it. Just pay in what you can. When you're ready to, ask them to reduce the facility to £100 and then carry on until the overdraft is gone.

Catherine_Johnson_2

I think there's a misunderstanding here, between the OP, the bank and us on here.

I think we all may be talking at cross purposes.

cr1mson

Ok may have got this completely wrong here but I think there are two things going on here and teller is confused.
The actual amount owing and the overdraft limit.

The amount owing being able to be reduced by £10 but the overdraft limit only being able to be reduced at £50 increment so you could be £101 OD but would still have a limit of £150 so would have to pay for it accordingly.

Do you want to reduce the amount owed and the overdraft limit or just the amount owed?

C

Funkyfreddy

Shev85 wrote: »

yes I can save the money and pay it off that way, I used to bank with Halifax and you can pay off as much or as little as you like, my point being is that I am trying to pay back the bank in my own way and i'm at a stand still with them, I have an agreed OD so I dont get charges unless I live in my OD which I dont, I'm just trying to do the right thing and not be in debt with the bank in anyway

As others are suggesting it seems a little confusing out there - are you misunderstanding the use of the term "Overdraft".

If you have a £150 Overdraft facility (ie the limit that your bank will allow you to go overdrawn under an arrangment with them) and wish to reduce or increase this it seems Santander will only do this multiples of £50 - eg down to £100; up to £200

If you told the Bank staff that you wanted to reduce your overdraft by £10 it would appear they took it you wanted an overdraft facility of £140 as against £150.

If you have an overdraft facility but do not use it by going overdrawn it isn't costing you anything - you say above you don't "live in your OD" - does that mean you don't normally go overdrawn - ie your bank balance is normally in credit (has money in) ?

Were you overdraw when you went to the bank - was your balance in credit when you went to the bank ? If it was in credit asking the bank staff you wanted to pay £10 to reduce your overdraft wouldn't make any sense to them at all.

FF

Shev85

i want rid of my overdraft limit of 150, i've never spent over my overdraft and had any charges, but want to reduce it so eventually i have no OD what so ever, sorry for confusion, all I am wondering is why the bank said it has to be paid at £50 at a time as I am willing to pay it back, but because I cant do it at maybe £10/£20 a time, its makes it a nightmare for me, because I just dont have £50 spare, I just would have thought the bank would jump at the chance for me to pay it back in any means possible but because I am not spending over my overdraft limit and getting charged here, there and everywhere they wont let me pay it in smaller amounts

opinions4u

If you have a £150 overdraft limit and an overdraft balance of £140 then you can pay £10 in to the account.

You will then have a £150 overdraft limit and a £130 overdraft balance.

The limit it irrelevant, except as some sort of psychological thing.

Unless I've understood incorrectly, you can pay as many tenners in to the account as you want. Your overdraft balance will reduce when you do. The overdraft limit will remain unaltered.

Shev85

right sorry for confusion, i'll try one more time,

I have an agreed overdraft of 150, i want to reduce it so eventually i have no overdraft at all, and the money in my account is mine and mine only

I called Santander who will only reduce it by 50 at a time, But i want to reduce it by maybe 10 or 20 per week for example so that it is paid off

my confusion was this :- If banks such as halifax can accept £10 at a time to reduce your overdraft, why cant santander and it has to be 50 at a time, (santander customer service have told me, only if i am in 'debt' with my overdraft can they set up a payment plan)

The only reason I dont live in my overdraft is because my rent keeps me in the black each month, if I paid it off then I would be 150 short of my rent