Missed payments on credit report for a bank account?

Lucifa42

Hi, I've just checked my credit report with Equifax and surprised to see some missed payments on it from Metro Bank.
The account is a current account, there is no credit card, loan or anything of that nature on the account.

At end of May I transferred all money from the account into my main bank account and must have mistyped the figure to transfer out, so I ended up being 37 pence overdrawn.

Now I had no reason to check my online statements when they were emailed as I believed the account to be zero. There was also no request from Metro asking me to pay the overdraft.

I have to wonder why it's been listed as 2 missed payments when it's not a credit card or loan (though I suppose technically it's still credit), but it's not a facility that requires monthly payments.

I have phoned Metro to ask for the missed payments to be removed and I am waiting for call back, but on the assumption that banks aren't helpful and won't agree to this where do I go next?

I should also point out that they haven't charged me for going overdrawn.

BASFORDLAD

Metro bank have done the right by showing you as overdrawn.

They don't have to remove it and the is nothing u can.do

YorkshireBoy

Lucifa42 wrote: »

Now I had no reason to check my online statements when they were emailed as I believed the account to be zero.

You had every reason to keep checking for fraudulent transactions or other such things. Perhaps you'll do so in future now that you've seen what can go wrong?

There was also no request from Metro asking me to pay the overdraft.

There will be a 'trigger' point that initiates some correspondence.

I have to wonder why it's been listed as 2 missed payments when it's not a credit card or loan (though I suppose technically it's still credit), but it's not a facility that requires monthly payments.

Current account 'numbers' on your credit report have a different meaning from those used on credit cards etc. See this from Experian...

http://www.experian.co.uk/downloads/consumer/experian-YCRE.pdf (page 15)

...where you'll see that they've simply reported that your overdraft balance has exceeded your arranged overdraft facility for 1-2 months.

I should also point out that they haven't charged me for going overdrawn.

Maybe there's a buffer, say £10? Perhaps you could check your account T&Cs?

Lucifa42

Update from Metro. It may not have been my mistake at all!
There was some foreign transactions that went through on the same day I removed the money and due to exchange rates and such things the bank may have slightly adjusted the amount of the transaction after I had set to account to zero.
Metro have removed the markers from my credit report because of this.

YorkshireBoy

Lucifa42 wrote: »

...the bank may have slightly adjusted the amount of the transaction after I had set to account to zero.

For future reference that's always the case...the initial transaction is shown, and then it's 'settled' some days later at a revised exchange rate (applying that day).

It's for this reason, along with several others*, that banks usually insist on a 10 day (or so) wait before formally closing accounts when requested to do so.

Well done on the CRA markers.


* Debit card payments made, cheques issued, etc.