Santander reducing my overdraft limit

moneyaspie2024

Inbetweeners said:

So between your overdraft and credit card you had £5k available to you? If you can't see the potential pitfalls for the banks with that and an impulsive spender then......

There is nothing for Santander to 'put right', it' s a perfectly reasonable business decision that happens to thousands of people every day with and without disabilities.

The plot has thickened in my favour, went onto remove the arranged overdraft limit to 0, and Santander have refused to allow me which I have screenshots of, so clearly they are now in breach as they haven’t allowed me to remove my overdraft limit when I asked them. 

moneyaspie2024

Inbetweeners said:

So between your overdraft and credit card you had £5k available to you? If you can't see the potential pitfalls for the banks with that and an impulsive spender then......

There is nothing for Santander to 'put right', it' s a perfectly reasonable business decision that happens to thousands of people every day with and without disabilities.

So to answer your question how are Santander engaging in responsible lending practice if a customer has specifically requested the removal of their overdraft facility, yet the online system says the limit is of zero is not available and have kept the 2 grand limit on, so basically Santander have the right to remove my overdraft when they see fit, yet I don’t ! 

GeoffTF

moneyaspie2024 said:

Inbetweeners said:

So between your overdraft and credit card you had £5k available to you? If you can't see the potential pitfalls for the banks with that and an impulsive spender then......

There is nothing for Santander to 'put right', it' s a perfectly reasonable business decision that happens to thousands of people every day with and without disabilities.

So to answer your question how are Santander engaging in responsible lending practice if a customer has specifically requested the removal of their overdraft facility, yet the online system says the limit is of zero is not available and have kept the 2 grand limit on, so basically Santander have the right to remove my overdraft when they see fit, yet I don’t ! 

I believe that you can avoid having an overdraft facility with both Starling and Nationwide, and I expect other banks too. I successfully reduced my Santander overdraft limit to a few hundred pounds to limit the risk if my debit card is stolen. I also cut my contactless limit to a fiver. (I do not use my debit card for in person payments, unless my Visa card with another bank fails.)

moneyaspie2024

I’ve been with Santander since the abbey days, same account number and everything for nearly 18 years now, they have always been good and acted reasonable but they are now they are just pulling a Barclays move. 

I have a 3k overdraft on my flex direct, but I was advised that to appeal the limit with Santander I must wait until the day the limit is set to be reduced, so I’ll give them the benefit of the doubt for now, but at least I have backup in case the appeal is unsuccessful. 

moneyaspie2024

GeoffTF said:

I believe that you can avoid having an overdraft facility with both Starling and Nationwide, and I expect other banks too. I successfully reduced my Santander overdraft limit to a few hundred pounds to limit the risk if my debit card is stolen. I also cut my contactless limit to a fiver. (I do not use my debit card for in person payments, unless my Visa card with another bank fails.)

I am hopeful that I can appeal my limit with Santander, I did speak with them today and I’m feeling hopeful about it, there is no issues with account management and regular turnover well within the limits, I think it’s just been an automated process that’s been playing trigger happy. 

maxximus75

moneyaspie2024 said:

Inbetweeners said:

So between your overdraft and credit card you had £5k available to you? If you can't see the potential pitfalls for the banks with that and an impulsive spender then......

There is nothing for Santander to 'put right', it' s a perfectly reasonable business decision that happens to thousands of people every day with and without disabilities.

The plot has thickened in my favour, went onto remove the arranged overdraft limit to 0, and Santander have refused to allow me which I have screenshots of, so clearly they are now in breach as they haven’t allowed me to remove my overdraft limit when I asked them. 

The probable reason you are unable to reduce your overdraft to 0 is that a pending change is in process on your account, just as the agent you spoke to was unable to re-instate your overdraft limit.

k12479

moneyaspie2024 said:

I’m 20k in debt.. 

Hang on...according to your post in your other thread you're £20k in debt, while also implying your income is less than £30k. Based on that, I'd say it'd be irresponsible if a bank didn't reduce the credit available to you. Leaving a £3k overdraft open wouldn't appear to be in either parties best interest.

moneyaspie2024

k12479 said:

moneyaspie2024 said:

I’m 20k in debt.. 

Hang on...according to your post in your other thread you're £20k in debt, while also implying your income is less than £30k. Based on that, I'd say it'd be irresponsible if a bank didn't reduce the credit available to you. Leaving a £3k overdraft open wouldn't appear to be in either parties best interest.

You don’t know my circumstances, I pay nearly £1000 towards my debts each month and will be out of them in 4 years, you don’t know my circumstances. 

Also I don’t have any mortgage or rent and my rent is fully covered by HB, everyone’s financial circumstances is individual. 

k12479

moneyaspie2024 said:

k12479 said:

moneyaspie2024 said:

I’m 20k in debt.. 

Hang on...according to your post in your other thread you're £20k in debt, while also implying your income is less than £30k. Based on that, I'd say it'd be irresponsible if a bank didn't reduce the credit available to you. Leaving a £3k overdraft open wouldn't appear to be in either parties best interest.

You don’t know my circumstances, I pay nearly £1000 towards my debts each month and will be out of them in 4 years, you don’t know my circumstances. 

Also I don’t have any mortgage or rent and my rent is fully covered by HB, everyone’s financial circumstances is individual. 

Of course I don't know your circumstances, other than the details that you've given. But amongst the details and a lot of opinion and claims, you conveniently left out a rather salient point. You have a 'safety blanket' already - vary the amount you are paying back if needed.

adamp87

I don’t see anything wrong with what Santander have done and it hasn’t anything to do with having autism either or bot caring.

By your own admission the OD is never used, if it is it’s up to £75, the other benefit is having basically a £2k blanket.

But as it’s never used anywhere close to £2k they’ve decided that credit line isn’t needed, is recalled and could be used elsewhere.  

You can always open an account somewhere else and apply for a larger OD, but from whatever you’ve said the OD was mostly on the off chance of an unforeseen emergency.