Overdraft Query

AnyNameAtAll

Morning,

So, due to a belated refund going into my account from the hapless Vodafone I now find myself £34 overdrawn in my current account. I have a £300 pound overdraft which has kept me going through a bit of a financial nightmare but their incorrect charging in relation to last months phone bill knocked me slightly over the £300 threshold.

I am now unable to withdraw money from my HSBC account for the first time. I have a few questions, gang.

1) If I deposit the £34 into my account, taking my account back to £0 will I then be able to access my overdraft of £300 again?

2) How long will it take for the £34 to show up in my account before it clears back to 0? If I go into a branch and deposit cash will it be instant?

I'm unfortunately unable to get to a phone now, hence my use of this rather than phoning them! Any advice appreciated, cheers.

grumbler

AnyNameAtAll wrote: »

Morning,

So, due to a belated refund going into my account from the hapless Vodafone

What does 'going' mean? How long will it 'go'?

I now find myself £34 overdrawn in my current account. I have a £300 pound overdraft which has kept me going through a bit of a financial nightmare but their incorrect charging in relation to last months phone bill knocked me slightly over the £300 threshold.

Does this mean that you are £334overdrawn? Or £34?

I am now unable to withdraw money from my HSBC account for the first time. I have a few questions, gang.

If it's just £34 and the limit is £300, why are you unable to withdraw?

AnyNameAtAll

grumbler wrote: »

What does 'going' mean? How long will it 'go'?
Does this mean that you are £334overdrawn? Or £34?

If it's just £34 and the limit is £300, why are you unable to withdraw?

The refund was supposed to be going in at least 12 days ago but only went in today. In that time, I went over the £300. The refund that has went in today has taken me back down to £34.

grumbler

Well, if the limit is -£300 and the balance is -£34, I don't see why you can't withdraw. Ask the bank why.

Armorica

You'll need to speak to them. Probably would have been better to speak to them earlier - banks have been known to increase overdrafts slightly on a temporary basis if they can see there has been a payment error etc.

Aquamania

AnyNameAtAll wrote: »

Morning,

So, due to a belated refund going into my account from the hapless Vodafone I now find myself £34 overdrawn in my current account. I have a £300 pound overdraft which has kept me going through a bit of a financial nightmare but their incorrect charging in relation to last months phone bill knocked me slightly over the £300 threshold.

I am now unable to withdraw money from my HSBC account for the first time. I have a few questions, gang.

1) If I deposit the £34 into my account, taking my account back to £0 will I then be able to access my overdraft of £300 again?

2) How long will it take for the £34 to show up in my account before it clears back to 0? If I go into a branch and deposit cash will it be instant?

I'm unfortunately unable to get to a phone now, hence my use of this rather than phoning them! Any advice appreciated, cheers.

It's your responsibility to ensure you have sufficient cleared funds (or an approved overdraft in place) to meet all outgoings you have authorised/agreed.

If you think about it, paying in an additional £34 will have no effect.

As you went into unauthorised overdraft territory (by not taking into account a payment you were due to receive had not been paid/cleared) but that £34 has now been paid in (putting you back within your agreed overdraft limit), yet you still cannot withdraw any funds, it sounds like your account has been suspended.

Your only option now, if you wish to continue to use the account, is to contact the bank and hope to come to some agreement.