When does the fees stop?

whatup123

I have this abandoned RBS account. I left it with a small positive balance and no activity.

I have not logged in some 6 years. For some reason I remembered about it today and see that I cannot log in anymore.

Whats the worst case scenario? I imagine bank might have charged some account/card related operating fees that pushed the balance a few pounds in an unarranged overdraft. Do the crazy 80 GBP a month then start? And for long? Till I die? or there is a limit?

Thanks guys!

Brewer20

Pretty sure you will have been notified of any monies owing.


Can you reset your passwords etc, any facility for that?

eskbanker

whatup123 wrote: »

I imagine bank might have charged some account/card related operating fees that pushed the balance a few pounds in an unarranged overdraft.

Why imagine? Surely you must have something that indicates what type of account it is and whether there are any monthly charges that would apply even when you're not actively using the account?

whatup123

eskbanker wrote: »

Why imagine? Surely you must have something that indicates what type of account it is and whether there are any monthly charges that would apply even when you're not actively using the account?

I think its worth imagining/looking into because of the potential fees over some years. I looked into it and there are no fees for the card nor the account. But there might be other fees I am not aware of. Seems like a small fee that pushes me a little into overdraft can cause some serious damage.

Im trying to understand what steps to take. From doing nothing to booking airplane tickets.

whatup123

Brewer20 wrote: »

Pretty sure you will have been notified of any monies owing.


Can you reset your passwords etc, any facility for that?

Thanks for replying!
The only possible way they could have informed me is by email. The address is no longer valid.
I was not able to reset the login details. At some point in this reset process they ask for debit card details. I dont have a valid one. The one I have has expired years ago.
But how about the fees? In some american forum I read that 60 days of fees is the limit after which they close the account. What is the situation in the UK?

boo_star

whatup123 wrote: »

Thanks for replying!
The only possible way they could have informed me is by email. The address is no longer valid.
I was not able to reset the login details. At some point in this reset process they ask for debit card details. I dont have a valid one. The one I have has expired years ago.
But how about the fees? In some american forum I read that 60 days of fees is the limit after which they close the account. What is the situation in the UK?

There is no limit in the UK.

jonnygee2

I have this abandoned RBS account. I left it with a small positive balance and no activity.

You really should keep better track of your accounts! As you say, a small overdraft caused by, say, a bounced direct debit fee can easily spiral.

The good news is that 'crazy £80 overdraft fees' would probably be considered unfair charges, and you might be able to claim them back. But, without any craziness at all, over 6 years a balance can easily reach a couple of hundred pounds overdrawn.

Pretty sure you will have been notified of any monies owing.

You'd hope so but then banks have been known to chase owed amounts much later than this. But if it was huge they'd probably have passed it on to a debt collection agency by now.

eskbanker

Assuming you're not keen on contacting RBS for the definitive position, you could check your credit files to see how the account is reflected there....

Your reference to changing address and "booking airplane tickets" might imply that you've left the country - if so, are you planning on coming back?

whatup123

jonnygee2 wrote: »

You really should keep better track of your accounts! As you say, a small overdraft caused by, say, a bounced direct debit fee can easily spiral.

The good news is that 'crazy £80 overdraft fees' would probably be considered unfair charges, and you might be able to claim them back. But, without any craziness at all, over 6 years a balance can easily reach a couple of hundred pounds overdrawn.




You'd hope so but then banks have been known to chase owed amounts much later than this. But if it was huge they'd probably have passed it on to a debt collection agency by now.

Thanks! Yea, overall Im pretty responsible when is comes to money but this is a gap from my uni days in the UK. Ok..I guess there is no need to panic but looks like a weekend in UK at some point this year.

whatup123

eskbanker wrote: »

Assuming you're not keen on contacting RBS for the definitive position, you could to see how the account is reflected there....

Your reference to changing address and "booking airplane tickets" might imply that you've left the country - if so, are you planning on coming back?

Great. Will look into that credit report.

I have left. Not planing to come back. But definitely want to be able to visit.

Stompa

I would have thought the account has simply become dormant due to lack of use.