Scammed by bank's "Overdraft Protection Policy"?

squishy_2

I've opened a letter today (OK, I have a newborn and it's been sitting in my in-box for 6 or 7 weeks!!) and it's from my bank saying that they have "accepted my application for personal overdraft protection". The only time I've contacted them this year was to cancel the "additions" (Ok, so we know what bank I'm talking about!) aspect that they were charging me £11 a month for and to reduce my overdraft to £100.

I was NOT asked if I wanted this, but am damn sure they'll charge me through the nose if I go overdrawn......

My DH was similarly stung a couple of years ago when they asked him if he wanted it, he said no, they set it up anyway and then tried to make him write in to cancel the policy (he is dyslexic and refused and after a long battle, they gave in).....I'm not dyslexic but as a new, working Mum, I don't have the time or inclination.

Rant over, my questions are: is what they've done legal? Does anyone have any tips on how to deal with them when I ring?

TIA xx

Toomuchdebt

Just tell them you didn't ask for the protection and can they cancel it.If they refuse tell them you'll go elsewhere and close the account.

marcellep

I had a similar problem with HBOS when I taken a perosonal loan out they added PPI to my loan which bumped the price up by over a £1000. I did not request this PPI. I called the headoffice and asked them to send me proof that I requested this product, as they where unable to provide such evidence I demaned they cancel it and refund me any money due. They did this without any problem.

I understand that you could do without this esp right now with a new baby, but a simply and quick visit to your branch or telephone call and I am sure you will get it all sorted out.

I think banks add these products on as they make such a huge profit from them.

Hope that helps