missed payments with bank?

mmcc.1

Previously posted but hope to get some more advice about my situation. I have a graduate account with Santander. Basically Santander advise that a regular income should be going into the account each month. I’ve always adhered to this, but in September I decided to travel to Australia, I haven’t had an income because I’ve been travelling. I’ll be going back to work next month. I checked my account regularly whilst abroad and ensured there was money so I did not go overdrawn. Santander attempted to contact me at my address back home, I understand that I should have explained I was travelling but I simply did not realise that I had to make a payment because nothing was shown on my online banking. I had the funds to make any payment, I was just using an Australian bank card because I would get charged non-sterling fees if I used my Santander account here. Even the Santander staff who I spoke to yesterday have voiced concern as they said it’s not a payment as such, it’s a credit not a debit. Is there anything I can do in this regards?
Also, it’s shown that I’ve missed 3 payments in a row.
What impact is this going to have on my life?
I’ve had a perfect credit rating up until now,
Im worried I won’t be able to get car finance, loans, or even a job in the financial industry?

molerat

I would raise a formal complaint. I cannot find anything in the T&Cs that says you must make a monthly payment, it states you must pay your income into the account but there is no minimum funding amount.

Gaz83

Is it the 123 Graduate Account?

From the T&Cs:

Use of your account
For any 1I2I3 Graduate Current Account opened on or after 26 June 2017, the account will last up to 2 years before it automatically transfers
to an appropriate current account. If your 1I2I3 Graduate Current Account has been opened prior to this date, it will last up to 3 years. Only
one 1I2I3 Graduate Current Account can be open at any one time and it must be used as your main current account and your salary must
be paid into it. If you don’t regularly pay your salary into this current account, we reserve the right to stop providing some (or all) of the
services on your current account, for example, cancelling any Arranged Overdraft allowance on your current account or closing your current
account. We’ll give you at least two months’ notice of any change to the services on your current account or if we close it.

If so, sounds like you've messed up.

mmcc.1

They were marking late payments though before they even closed the overdraft?! I can accept the overdraft being closed.. it’s my fault but having the late payment markets on the account I think is extremely harsh, I’ve only taken a few months out of work. I checked my online banking, no payments were shown to make. I think it’s a bit misleading and I have had an unfair advantage compared to people who have loan payments, credit cards etc as they would be able to see any minimum payments on their account.

molerat

Gaz83 wrote: »

Is it the 123 Graduate Account?

From the T&Cs:

Use of your account
For any 1I2I3 Graduate Current Account opened on or after 26 June 2017, the account will last up to 2 years before it automatically transfers
to an appropriate current account. If your 1I2I3 Graduate Current Account has been opened prior to this date, it will last up to 3 years. Only
one 1I2I3 Graduate Current Account can be open at any one time and it must be used as your main current account and your salary must
be paid into it. If you don’t regularly pay your salary into this current account, we reserve the right to stop providing some (or all) of the
services on your current account, for example, cancelling any Arranged Overdraft allowance on your current account or closing your current
account. We’ll give you at least two months’ notice of any change to the services on your current account or if we close it.

If so, sounds like you've messed up.

And that justifies missed payment markers on op's credit files ? That clause simply states what the penalties are for not complying with the ground rules, exactly the same as my 123 account - if I don't pay in I don't get interest, what I do not get is a missed payment marker. It does not justify the missed payment marker which should be reserved for missing contractual debt payments. If the account was in overdraft then maybe justifiable but op states that was not the case. I stick by my formal complaint stance and all the way to the FOS if they don't remove the markers.

mmcc.1

I was within my arranged overdraft, I still ensured that I had money so I would not go overdrawn.. however I still didn’t think I had to make a payment as it was not shown on my online banking and everything looked fine..

System

They don't show that payments have to be made into this kind of account on online banking, you were told they had to be in the terms and conditions you agreed to when you signed up.

mmcc.1

I understand, however it doesn’t specify that they will mark my account as having a late payment. They removed he overdraft but they started marking late payments before this happened..

Gaz83

Were you in the overdraft or not? Did your account have a negative balance?

mmcc.1

I was in an arranged overdraft , I did not go over my limit.

Gaz83

Just a thought... when did you graduate?