Debit card interest on planned overdraft

K0SS

deleted...

CLAPTON

current a/cs have overdrafts but debit cards don't

if your OD is above the agreed limit them yes you are liable to be charged extra but this will depend upon the particular bank and a/c

you really need to reduce your OD to accommodate the extra interest and so keeping within your agreement

but it all depends upon that the T&Cs of your a/c are.

JimmyTheWig

K0SS wrote: »

last time they demanded I pay all the money, they took away my planned overdraft limit. Can they do the same thing?

Yes, I'm afraid. Overdrafts are repayable on demand.

As per Clapton, you need to pay in the funds to cover these fees.
Anything you can sell to generate £11?

Tixy

Most banks would charge you a fee for exceeding your overdraft in this situation.
Whilst it might be that it is them taking the money that will push you over the limit, they notify you in advance of those charges being added to your account.
It is the account holder's responsibility to keep the account within the agreed overdraft limit.

If you let it go over the limit this will increase the chance they would withdraw the whole overdraft from you. Is there no way you can pay in sufficent to keep it under the limit (selling something, borrowing from family or friends?).
If not then it might be worth seeing if the bank will consider a temporary increase to your overdraft limit (though this may well be refused if you are often at your limit and not paying any regular income in).

Tixy

Phoning them up won't make them recall your overdraft. They may do it anyway but a phone call shouldn't make it any more likely.

If they do try to recall it then you would simply have to explain that you are not in a financial position to do so, open a new bank account elsewhere - and arrange a repayment plan with the current bank.

There is no way they can make you take out any loan, much less a secured loan for the sake of a £750 debt.

david39

It would same really unreasonable, if the bank pushes me into unplanned
borrowing......

It is not the bank who are pushing you into unplanned borrowing - you are doing it yourself under your own steam by not being able to make the interest payments.

While I sympathise with your plight, it is not fair to throw the blame onto the bank, especially as you have not spoken to them yet to ask if they can be of assistance to you.