Can a bank say I owe them money I didn't agree to borrow?

bris

CKhalvashi wrote: »

The FOS has decided that it is irrellevant whether the money is owed or not.

You obviously didn't read it properly, at no point has the OP said he cancelled the DD.


That's not consumer rights, that's the banking code of conduct.
I'm talking about the contract the op entered into when singing up for the bank account.

Bank accounts, especially business accounts have two types of overdraft, authorised and unauthorised. Unauthorised still get paid but the interest is higher as a result.


I know from experience having had many business accounts that the bank will pay requested funds whether their is money in the account or not on a case by case basis. This is in the T&C's of all accounts I have ever had so I can't see the OP's bank being any different.


£4500 might sound like a lot of money but in business terms it's peanuts and there is nothing unusual in in banks allowing this.