Reclaim but using overdraft 16 November 2020 at 3:47AM in Reclaim Bank & Credit Card Charges 2 replies 104 views

Abigail1990

Hi all, quick question...I think i may be eligible for reclaiming my packaged bank account charges. I am currently using an overdraft on that account though, will I be able to cancel the packaged bank account and claim back the charges if I am still using the overdraft? Thank you 

dunstonh

Yes, you can make your complaint and it will have no direct impact on your overdraft facility.   However, some PBAs give preferential terms on their PBA compared to their normal account.    If your complaint is successful, and you have these, the cost differences will be taken into account and your future charges would be higher.

Farfetch

If you only got the OD because of the account (I know some PBA offer an OD for free as part of the deal) or got better rates from the PBA, it's a tough call that you didn't need it. Also just to temper your expectations, most PBA complaints will be subject to time bars now as the banks have been sending out letters regularly about the benefits/costs of the account and offering you the opportunity to switch accounts. If the account is more than 6 years old and they have proof the letters were sent in the last 3 years, your complaint will be closed.