bank overdraft problem

AyJay18

natwest gave me a £1500 overdraft. withdrew it all in cash in the branch the day after it was applied for a downpayment on a dog. i received a text message to say that my account was in unarranged overdraft by £1500. i called them and they said it was revoked 24 hours after being applied as they can demand it repaid at anytime and didnt say why they got rid a day after. what a pi** take. what are my rights and do i have to repay in full now or do i have 30 days? women on the phone was rude and nasty.

le_loup

Taking out an overdraft to buy a £1,500 dog shows a certain level of irresponsibility. Not surprised they changed their mind.
Ever thought about a rescue dog for a few quid?

antrobus

Overdrafts are repayable on demand.

Have you paid for the dog?

YorkshireBoy

le_loup wrote: »

Taking out an overdraft to buy a £1,500 dog shows a certain level of irresponsibility.

The £1,500 is a "down payment". OP hasn't said how much the dog is. :eek:

Anyway, since OP has at least £3,758 in savings...

https://forums.moneysavingexpert.com/discussion/comment/74531437#Comment_74531437

...there won't be a problem settling immediately, ie "on demand".


(Round here the schools break up next week)

worried_jim

Shaggy dog stories.

w06

some of them broke up last week

jonesMUFCforever

Overdrafts are repayable on demand but in practise they will allow 30 days grace because they will be charging you for the privilege.

DCFC79

AyJay18 wrote: »

natwest gave me a £1500 overdraft. withdrew it all in cash in the branch the day after it was applied for a downpayment on a dog. i received a text message to say that my account was in unarranged overdraft by £1500. i called them and they said it was revoked 24 hours after being applied as they can demand it repaid at anytime and didnt say why they got rid a day after. what a pi** take. what are my rights and do i have to repay in full now or do i have 30 days? women on the phone was rude and nasty.

Ride and nasty in what way ?

Being honest, telling the truth ?

What are your rights, you have a right to pay back the money, it should say in the documentation whether it's repaid in full now or within 30 days.

diggingdude

How will you walk this dog with your injuries? https://forums.moneysavingexpert.com/discussion/5868573/getting-what-im-entitled-to

Tallaght

Nowadays a lot of banks have asked for overdrafts to be repaid in full ASAP.

worried_jim

Tallaght wrote: »

Nowadays a lot of banks have asked for overdrafts to be repaid in full ASAP.

Especially the Monopoly bank. :rotfl: