Barclays reserve but won't give overdraft!

bwealleans

Hi there, I wonder if anyone can give me a bit of advice. I have a current account plus with barclays which has a £150 reserve on it. As with most people things are hard financially for me at the moment, I am self employed and have a young family to support and end up in my reserve most weeks - usually only by a small amount eg £20, but am subsequently charged £22 each week for this! I have applied for an overdraft several times with barclays and each time am rejected. I went into a branch last weekend and sat down with the manager and discussed this. He explained that without even applying he could tell me I wasn't entitled to an overdraft as there is a note on each customers account. I asked him if he felt it was fair that barclays would effectively lend me £150 each week but that they wouldn't do this is the form of an overdraft. He agreed that this was unfair and-his worlds not mine- the only reason barclays give a reserve instead of an overdraft is so they can charge you £22 each week you go into it! But what I want to know is, do I have a right to complain to the ombudsman for this? In my view, barclays are essentially causing me further financial hardship by not supplying me with an overdraft but charging me £22 each time I go into my reserve. I know that reserves are put on accounts automatically, but obviously they do not feel I am a financial risk to give me the reserve in the first place so why not give me an overdraft? I'm sure some of you will tell me to cancel my reserve but there are times when I need that extra cash, otherwise I wouldn't be applying for an overdraft atall.

dr_adidas01

No they don't have to give you an overdraft at all, no one has an automatic right to one. All overdrafts are subject to how much of a risk the bank think you are based on what they have seen on your credit reports.

While you think £22 is excessive for staying in your reserve for a 5 day period. It was in the terms and conditions you signed up to when you opened the account and agreed to the £150 reserve.

Have you spoken to a customer service rep via the telephone to see if there is anyway you can it returned to you as a good will gesture?

BASFORDLAD

Its people like you who mention the ombudsman make me laugh

Move banks

Simples

Maestro.

"A bank will only lend you money if you can prove that you do not need it".

opinions4u

You know you will get charged £22 a go for doing what you do.

You know you can't get an authorised overdraft. They don't have to give you an authorised overdraft.

You can see that this is silly.

Yet you still choose to pay £22 regularly?

BASFORDLAD

This guy wants it all!!!

thatsean

Seriously. You're paying £22 to borrow £20?

Go on to the DFW board and sort out your budget. If Barclays thought they had a chance of getting their cash back, they would throw it at you. They are very likely saving you from yourself.