NatWest removed my o/d without any notice!!

D3xt3r5L4b

busymummyof2 said:

I suspect it's not even due to money going in or not. I got an email today from Natwest saying they were cutting my overdraft facility in half. 

More specifically, this is an overdraft that was never originally requested and has never been used, on an account held for 33 years, that has always had 1 or 2 regular salary payments going in. And my Experian credit score is 999 (ok, that last bit is obviously tongue in cheek...)

So, the issue of notification aside here, they are clearly making some fairly sweeping cuts to their overall overdraft exposure that goes beyond individual risk factors.

Glad you don't need the overdraft they're reducing.
I could have sorted my finances out and understood if they'd notified me they were reducing or even removing, but to literally remove it when I had just gone into it I just don't understand.

That’s part of the terms of an overdraft. It can be withdrawn at any time. 

Sandtree

busymummyof2 said:
Glad you don't need the overdraft they're reducing.

I could have sorted my finances out and understood if they'd notified me they were reducing or even removing, but to literally remove it when I had just gone into it I just don't understand.

Its happened to me twice, once with Natwest though those circs were slightly different...

On the first time with Natwest I received a letter saying my current account (my name only) and loan (in joint names with my ex being paid only by me) had been in "default" for two years and  so had to paid up and closed or words to that effect. When I spoke to them as the current account had a tiny amount into its OD and the loan was in its final year with no missed payments etc they told me they couldnt tell me what the reason was due to the "Data Protection Rights of another party" nor could they explain why I got a letter saying its been in default for two years but never any previous letters about the alleged default - a CRA check showed both accounts all green across the board and no defaults.

Anyway, both had gone to the bad debt team despite being full up to date and so managed to get a deal on paying the loan off early but was told had to pay the £50 overdraft off in full as it was only in my name.

More recently had a more similar set of events where a line of credit (my name only) was slashed overnight, about two weeks later a letter appeared in the post saying that as a responsible bank they monitor available credit and had decided to cut mine.

I fully agreed that they have a right to cut it but took exception that in those two weeks they sent me half a dozen promotional text messages, emails and messages via the online banking and yet for something thats actually important they only sent a letter and then a long time after making the change. Anyway, they said it was reasonable so went to FOS who also agreed that it was reasonable for them to notify a customer two weeks later because the bank said they would have "looked into the matter" had I spent assuming the limit was still there and suffered charges as a consequence... unfortunately usual random standard of care from the FOS.