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Co-Op Basic Account - They gonna pay a reg bill and let me go overdrawn? Legal? ASAP
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TMO
Posts: 91 Forumite
Hello, I got myself into a little situation but to cut everything short for now. Tomorrow a company will be taking £190 out of my account to which I do not have and who take this regular payment every month. I phoned co-op to tell them would the payment go through and leave me overdrawn on my BASIC bank account which has no overdraft
facility, she told me yes as the debit card is a guarenteed way of payment and that money would be paid to them and I would up end overdrawn and have to pay fines. Like are you serious? I was about to let loose on her but thought I would get some advice from other people first. I told her how do I stop them from taking payment and she told me I can't and that I would have to ask them not to take payment from my card. I opened up a Barclays cash account a few weeks ago, so to be honest I felt like screaming at her and telling her to close my account right now.
Any advice would be greatly appreciated.
facility, she told me yes as the debit card is a guarenteed way of payment and that money would be paid to them and I would up end overdrawn and have to pay fines. Like are you serious? I was about to let loose on her but thought I would get some advice from other people first. I told her how do I stop them from taking payment and she told me I can't and that I would have to ask them not to take payment from my card. I opened up a Barclays cash account a few weeks ago, so to be honest I felt like screaming at her and telling her to close my account right now.Any advice would be greatly appreciated.
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Comments
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If you have a CPA on your debit card then yes, the bank can't do anything about it. You have to contact the company concerned and ask them.
Closing your account will do nothing - you'll still owe the money, plus any charges for insufficient funds.0 -
If you have a CPA on your debit card then yes, the bank can't do anything about it. You have to contact the company concerned and ask them.
Closing your account will do nothing - you'll still owe the money, plus any charges for insufficient funds.
CPA? It is a basic account, how can the bank be so irresponsible as to let me go overdrawn when I have no OD?
Closing my account will do everything, they can't get the money and will negotiate a payment plan.0 -
CPA? It is a basic account, how can the bank be so irresponsible as to let me go overdrawn when I have no OD?
Closing my account will do everything, they can't get the money and will negotiate a payment plan.
Eh, you are the irresponsible one for not having sufficient funds for your spending in your account, when you know they take the payment every month. It's not an unexpected outgoing so you should have made sure the money is in there.
Contact the company and see if they can take it at a later date. The bank can do nothing. And I seriously doubt screaming at some girl over the phone for your mistake is going to help. Ask calmly and politely for help and you might get somewhere.''Before you diagnose yourself with depression or low self-esteem, first make sure that you are not, in fact, just surrounded by a$$holes.'' :whistle:0 -
HoneyAndLemon wrote: »Eh, you are the irresponsible one for not having sufficient funds for your spending in your account, when you know they take the payment every month. It's not an unexpected outgoing so you should have made sure the money is in there.
Contact the company and see if they can take it at a later date. The bank can do nothing. And I seriously doubt screaming at some girl over the phone for your mistake is going to help. Ask calmly and politely for help and you might get somewhere.
Excuse me for having a life, why don't I just go jump off the nearest bridge.
Excuse me again for thinking a bank was there to pay funds you have, not pay monopoly money and default you into hells eternity.0 -
This is an interesting point.
The concensus is that the bank have to make the payment under their terms of Continuous Payment Authority.
In which case, if the OP doesn't put any more money into the account, at what point does the bank actually refuse to make further payments?
It clearly cannot go on making more and more payments for ever, because the OP, having failed with one, is likely to fail on further ones and could reach a point where he has no ability to repay the bank itself let alone the company trying to collect.
Having already told the OP that it must make the payment and has no ability to stop it, there must be a fall-back position for the bank to actually do so, so why is it able to do so when it (the bank) needs to and not when the customer requests it?0 -
Excuse me for having a life, why don't I just go jump off the nearest bridge.
Excuse me again for thinking a bank was there to pay funds you have, not pay monopoly money and default you into hells eternity.
Excuse me, but we all have lives. However not all of us spend beyond our means, and then expect the bank to look after it all for us. Take some responsibility. The bank aren't there to babysit your bank account.''Before you diagnose yourself with depression or low self-esteem, first make sure that you are not, in fact, just surrounded by a$$holes.'' :whistle:0 -
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I think the words "cake" and "eat it" apply here
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A Basic account means people have access to banking facilities without further credit, which includes overdraft facilities.
A overdraft facility is not a universal human right, it is a facility granted at the discretion of the bank. A basic bank account does not have an overdraft facility , therefore YOU should not have made financial commitments which you knew or know now you cannot honour / fund with the basic account.
Before I get slated for pointing out these pertinent facts, I'm on a DMP, I (not anyone else ) owe about £18,000 and I (not anyone else) is paying it back bit by bit. I sympathise with somebody who errs financially but draw the line at downright stupidity...DFW'er - Lightbulb moment : 31st July 2009 - £18,499
28th October 2019 - £13,505 - 27% paid off.
Demolishing my House of Debt.. one brick at a time!!
Thinking of spending???..YNAB says "NO!!!!"0 -
It's all very well blaming the Co-op, but the situation you have got yourself into could happen with any bank, Barclays included.0
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