Natwest Business Account

StainlessUK

Hi all

I have a NatWest business account with a £500 overdraft. They have written to say they are no longer giving me that service. I have about £400 overdrawn. They are handing me over to business collection. Are they going to ask for this all at once. The letter says something about an agreeable plan.

Any help would be great.

Thanks

~Beanie~

What type of help are you looking for?

Overdrafts are always repayable on demand and whilst banks may not withdraw overdraft facilities all that often, they are well within their rights to do so.

Your best bet is to come to some arrangement with them for repayment, they will probably let you pay in installments.

StainlessUK

Thanks guys. Just some advice on what will happen next. Do I wait for them to contact me or shall I get in contact first to arrange a payment plan.

pmduk

If the letter suggests an agreeable plan. it sounds like they will be agreeable to reduce it slowly. Talk to them.

StainlessUK

Thank you pdmuk. I've never gone overdrawn. It was up to £500. I will get in contact.

coldhandoff

You can do a repayment plan or they might give you a consolidation loan. Call them on 0845 9000 649. I wouldn't worry about it.