bad credit rating and can't open a second nationwide debit card account

YorkshireBoy

dave030445 wrote: »

But why do they let you go into an overdraft. As a customer you cant really moan if the money not there you payment didn't get paid. But putting me overdrawn i would be very angry.

If you don't have funds available they'll treat it as an informal overdraft request.

But if the DD was for an important mortgage payment you'd want that paid wouldn't you?

Also, even if they decline payment the resultant unpaid item fee would create an overdraft.

dave030445

ive just read there TC and it say that you can ask them not to pay any payments that would put you into the red. so if you did this why would it matter if you had a bad credit history or not. as you could only send the money you had.

Archi_Bald

dave030445 wrote: »

ive just read there TC and it say that you can ask them not to pay any payments that would put you into the red. so if you did this why would it matter if you had a bad credit history or not. as you could only send the money you had.

You are right, Nationwide say you can ask them not to make payments if you have run out of cash. But this does not protect you from overdraft charges as you might get loaded with unpaid transaction fees which may send you into unarranged overdrafts.

28. You can ask us not to agree to make a payment that creates an unarranged overdraft or increases an existing unarranged overdraft. If you do this, we will decline such payments and you will be charged Unpaid TransactionFees for payments that are declined.

http://www.nationwide.co.uk/~/media/MainSite/documents/products/current-accounts/shared/P857_ImportantInformation-TermsAndConditions.pdf

You cannot get away from looking after your own finances yourself, sorry.

dave030445

Archi_Bald wrote: »

You are right, Nationwide say you can ask them not to make payments if you have run out of cash. But this does not protect you from overdraft charges as you might get loaded with unpaid transaction fees which may send you into unarranged overdrafts.


http://www.nationwide.co.uk/~/media/MainSite/documents/products/current-accounts/shared/P857_ImportantInformation-TermsAndConditions.pdf

You cannot get away from looking after your own finances yourself, sorry.

dont you just love it when someone only reads half a thread then comments
where have i said iam
also the unpaid item fees are put on your account after 28 days after so by then money would of been paid in.
thanks for the link but as i said ive just read there TC so no need for the link

alanq

colsten wrote: »

It is never the bank's fault if you go overdrawn.

Untrue. I have only been overdrawn twice in my life. The first time Trustee Savings Bank paid a standing order twice in the same month. The second time Nationwide BS set up and paid a standing order (for which I had given written instructions) as £5000 per month instead of £500!

pmduk

dave030445 wrote: »

also the unpaid item fees are put on your account after 28 days after so by then money would of been paid in.
thanks for the link but as i said ive just read there TC so no need for the link

But a bank/bs have to judge whether an account-holder would fund their account to meet any charges, and in this case they've decided they don't want to take the risk.
Nationwide haven't shown themselves happy to take risks on such accounts in the past.

Furthermore they may not want to carry the costs of operating a second account for you. It's their ball-game, they can set the rules.

dave030445

pmduk wrote: »

But a bank/bs have to judge whether an account-holder would fund their account to meet any charges, and in this case they've decided they don't want to take the risk.
Nationwide haven't shown themselves happy to take risks on such accounts in the past.

Furthermore they may not want to carry the costs of operating a second account for you. It's their ball-game, they can set the rules.

So that ive run this account I have really good doesn't make any difference

pmduk

Not really. No. Just try a different bank. It's always good to have an account in more than one bank anyway.

dave030445

pmduk wrote: »

Not really. No. Just try a different bank. It's always good to have an account in more than one bank anyway.

I read somewhere that it will look bad on my credit file keep trying different banks/bs for accounts

colsten

dave030445 wrote: »

I read somewhere that it will look bad on my credit file keep trying different banks/bs for accounts

You have probably misunderstood, there is generally no problem with applying for, and running, many current accounts. It just seems to be advisable not to apply for too many current accounts if you are planning to apply for a mortgage in the next 6 or so months.