Why are Overdraft funds, Demanded back by the banks?(-£xxxx) which circumstances ?

whatmichaelsays

Milarky wrote: »

This is off topic but the standard term which slightly worried me was that my mortgage was repayable 'on demand' as well as my overdraft. Clearly a 'nuclear option' (they'd have to ask everyone else - so they wouldn't). This thinking was all back in the days when investments still paid out 'more' than you'd paid in, inflation wasn't a Mills & Boon affair, house prices were staid and boring, the average man weighed under 13 stone (I could go on...)

I think this is what many of those people who cry blue murder about "bailed out banks" fail to understand. If any bank was allowed to hit the floor, they'd be calling in mortgages en mass.

Then of course, you'd have thousands of potentially homeless people demanding that the government "do something".

_Andy_

Danny_G wrote: »

When you have an overdraft, and you are into it, i heard that the banks can demand to give if back

(say if you have used the majority of the funds, from the overdraft so are in -£xyz)


but isn't it also on their policy that they can Demand this money to be paid back immediately?

which circumstances/conditions can this be ??

which cases?

as this instant demand can cause pressure if the funds cannot all be paid.... right ?

(I mean when you are actually in your Overdraft balance - and they demand it to be paid back immediately

- which situations do they do this? and why?

-give some instances please

Why don't you just ask / state what your specific concern is?