Barclays unlicensed OD

Bouncybubbles

Hi

I am asking on behalf of my husband he has a current account with barclay's and has had for at least 15 years. He had a default with them for a student loan which we did not know about etc went to ombudsman ( that's a different story entirely). Anyway the default ended around 2-3 years ago and his credit score is now good. however whilst he had the default he tried to move his current account and got declined for obv reasons. now his current account has an unlicensed OD on it of £100 which he gets charged £5/day for using! now he never normally uses for that reason however due to recent financial difficulty (my fault) he has been in it the past two months by £45 which inevitably then leads to charges of at least £40. so i am asking what is his best option? should he leave a bank that have never tried to help him despite asking on frequent occasions in the past. should he ask for an authorized OD on his barclays current account? or should he switch to elsewhere with an authorised OD also?

GTR_King

Barclay's usually charge charge
£0.75 a day up to £1,000
£1.50 up to £2,000
£3 for more than £2,000
authorised O.D

£5 per day for unauthorised O.D (Any amount)

basically he has an unauthorised O.D

Best for him to speak to Barclay's and ask for an authorised one

Mrs_Ryan

It's £1.50 per day between 1 and 2k with Barclays.

Flobberchops

You say his credit score is good but Barclays may well see things differently: if they believed he had a good financial history they would probably have offered him an overdraft facility by now, a personal loan, or similar.

The first thing to do is for Christ's sake to get out of unarranged overdraft. Those fees will pile up horribly quickly. If your husband feels like taking a punt he could go into a branch one day feigning annoyed confusion about the source of the fees, and then switching to a theatrical display of shock and remorse when he "learns" for the "first time" about these charges. If he's speaking to a very soft-hearted member of staff they may waive the fees as a one-off.

Going forward, you could try taking a Barclays Feature Store pack - these start from £6/mo for the home pack - as they allow you to apply for a £200 fee-free overdraft (NB: you won't be automatically eligible, it's a case of application and eligibility). If your husband's account is often hovering near to or under the zero mark at the end of the month this could save him some incurred charges. If it turns out that you're not eligible for the overdraft, simply cancel the pack subscription if you wish.