Overdrawn ISA??

natalie656

Hi

I have an isa account with natwest and it hasn't been used since 2005.

In September 2011 i paid some money in and then took it back out into my current account. I've now recieved a letter from natwest saying my isa account is 180 overdrawn and they want immediate payment or they will contact debt collecters etc.

I've had a look and it looks like the 180 was credited into my current account twice, the original payment into the isa account was declined as the isa account had been deactivated back in 2005. (There must have been a delay as the 180 was showing in my isa hence why i took it back out.)

Now everyone i've spoke at my natwest branch has said it's impossible to go overdrawn on an isa account. I honestly can't remember having the money twice in my current account and i'm just wondering where i stand as it was a bank error.

Also don't you need to sign an agreement to say you want an overdraft??

grey_gym_sock

if natwest have mistakenly given you £180, they are entitled to ask for it back. it's a bit rude start by threatening you with debt collectors, though, given it's their mistake.

Funkyfreddy

natalie656 wrote: »

Hi

I have an isa account with natwest and it hasn't been used since 2005.

In September 2011 i paid some money in and then took it back out into my current account.

You mean you tried paid £180 into your dormant NatWest ISA (zero balance at the time or otherwise ?) then pretty much took it straight back out into the same account from where it came ?

natalie656 wrote:

...I honestly can't remember having the money twice in my current account

Your statements will tell you.

If you don't have Paper Statements and you have access to NatWest Online banking then your statements are there to view.

natalie656 wrote:

Also don't you need to sign an agreement to say you want an overdraft??

But you don't have an overdraft - it would appear NatWest, however it may be worded (poorly perhaps) are requesting you repay the additional £180 that was credited to your current account as a result of your payment to your deactivated ISA being returned

Rgds
FF