Massive overdraft charges

jazzmavericks

Hi all - first time posting, so apologies in advance if I do something wrong!

Anyway, I used to have a Natwest Account, but then I ended up getting a Lloyds one, as they would give me an overdraft at the time, and generally seemed like a nicer bank.

So I changed all my direct debits over to the new Lloyds account, and left the Natwest one open in case I ever needed it for anything. I then promptly forgot about the Natwest account.

Unfortunately, I had left one direct debit open - a roughly £10 one for home insurance. I think I forgot about this, as I got new home insurance at a discount through Lloyds.

So, I've not been living at home for the last few months, as have been with family in Ireland. I've just come back to find letters from debt collectors, regarding my Natwest account, so checked my online banking, and I am £630 overdrawn!!!!

HOW. THE. HELL. Here is my statement (with acc nos removed).

5 Oct 2012 Charge RETURNED ITEM FEE , 14SEP - 12.00 -£10.56
2 Nov 2012 Charge UNARRANGED OD FEE , 12OCT - 48.00 -£58.56
2 Nov 2012 Charge RETURNED ITEM FEE , 12OCT - 6.00 -£64.56
5 Dec 2012 Charge UNARRANGED OD FEE , 14NOV - 198.00 -£262.56
4 Jan 2013 Charge UNARRANGED OD FEE , 14DEC - 180.00 -£442.56
4 Feb 2013 Charge UNARRANGED OD FEE , 14JAN - 186.00 -£628.56

How in the hell can there be charges of almost £200 a month??? Do I really have to pay them all this because I had one £10 DD bounce back which I forgot about? Can anyone help me out here?

Thanks in advance!

meer53

You need to call Natwest to discuss the fees. They might refund some of them. They might not. Depends on how you ask.

Savvy_Money

You may have to if it is spelt out clearly in the terms and conditions, and notifcation of charges is available either online or via your statements. In fairness to Natwest they are not to know you are in Ireland, or that you have not checked your latest balance. Your best bet is to speak to Natwest and see if they can reduce some of the charges, but this will be a goodwill gesture on their part if they do.

Or you could simply state that you cannot pay the charges which may allow for some negotiation re: a repayment plan. Good luck though

jazzmavericks

Thanks both - it has just come as a little bit of a shock this afternoon, and thought I would get some advice before I got in touch with the bank.

Savvy_Money

Mind you if it's been passed to the debt collectors you will be better off discussing this with them, sometimes depending on the debt collector thay can agree to more ameniable terms

Meadows

jazzmavericks wrote: »

5 Oct 2012 Charge RETURNED ITEM FEE , 14SEP - 12.00 -£10.56
2 Nov 2012 Charge UNARRANGED OD FEE , 12OCT - 48.00 -£58.56
2 Nov 2012 Charge RETURNED ITEM FEE , 12OCT - 6.00 -£64.56
5 Dec 2012 Charge UNARRANGED OD FEE , 14NOV - 198.00 -£262.56
4 Jan 2013 Charge UNARRANGED OD FEE , 14DEC - 180.00 -£442.56
4 Feb 2013 Charge UNARRANGED OD FEE , 14JAN - 186.00 -£628.56

How in the hell can there be charges of almost £200 a month??? Do I really have to pay them all this because I had one £10 DD bounce back which I forgot about? Can anyone help me out here?

How in the hell - 4 x Unarranged Overdraft Fees (no idea what the 2 x Returned item fees are) this will all be in your T&C's there to see and take note of!

Do I really have to pay them - Yes unless your bank are willing to waiver some of them!

The onus is on you to administer your account and not forget about transactions that take you into the RED