Bank withdrew O/D today from us,with no warning, we are almost penniless!

needawayout_2

I didn't feel this relevant anymore.

MarkyMarkD

There are two things which might have happened here:

1. You had a fixed term overdraft arrangement, which expired, and you didn't keep a note of the expiry date and hence didn't contact your bank in advance to check whether it would be extended or not. In which case, there's nothing wrong with what the bank have done.

2. You had an indefinite term overdraft arrangement. In this case, the bank should have at the very least written to notify you in advance, with a decent notice period, that they were going to withdraw the facility and you would expect them to be amenable to a bit of discussion on the subject. If this is the case, you should (a) complain and (b) ask them to reinstate the overdraft limit, perhaps on a declining basis over a sensible period.

I hope that helps.

Saying emotive things like "the bank are taking food out of our kids' mouths" isn't going to get you anywhere with the bank, or any sympathy off some people on here, I'm afraid. The bank are not taking food out of anyone's mouths - you are asking them to let you continue feeding your children with their money. They're perfectly entitled to change their mind about lending you money - that's the reason overdrafts shouldn't be used for long-term funding of debt.

grey_lady

Was there a recent benefit payment, especially child benefit?
have you got a history of bouncing payments say in the last 12 months?

If its yes to the first and no to the second then you stand a better chance of getting it reinstated.

Would you be able to suggest that they reduce it gradually over the next few months rather than all in one go? in fact it may even be better if you go into a branch and discuss it with someone instead of phoning.

Good luck.

chilli_dog

Which bank is it?

My guess is the Natwest

needawayout_2

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needawayout_2

chilli_dog wrote: »

Which bank is it?

My guess is the Natwest

Nope chili..it's abbey...

dunstonh

Marks comments are spot on. Its either expired or cancelled.

Its possible that the expiry was 31st Dec but as no-one is working at the bank, they havent had a chance to auto-renew it yet.

as they ARE taking the food from my kids mouths!

No they are not. You are taking the food from your kids mouths by spending it on other things. The bank is not responsible for your spending habits.

They have made plenty of money from us over the years, I hardly think they are desperate!

Normal bank account running usually sees people pay nothing in charges. So, your comments suggest that you have financial problems that have seen items bounced and/or gone over your limit a lot. That could mean that they have withdrawn it or the temporary increase in facility has expired and gone back to the normal limit. A temporary increase in limit would not require notice of expiry as you are told this on setting it up.

When you have financial problems its best to work with the bank. You usually get treated better and have a better outcome. Speak with them tomorrow, dont be argumentative with them as its best to work with the bank when you have your problems and remember that comments like taking food from the childrens mouth will not help you.

MarkyMarkD

MarkyMarkD wrote:

Saying emotive things like "the bank are taking food out of our kids' mouths" isn't going to get you anywhere with the bank, or any sympathy off some people on here, I'm afraid.

I almost want to give up! I wasn't having a go at the OP. I was saying that it wasn't constructive to burst into tears at the bank or accuse them of stealing food from their children's mouths. I'm right.

Either the situation is a mistake (i.e. an accidentally delayed renewal), or it's a deliberate failure to renew because they aren't happy with your conduct. In neither situation should it have happened without notice and in neither situation should they be unwilling to negotiate a gradual withdrawal. But if, as dunstonh suggests, you've been riding roughshod over your existing overdraft agreement (hence the charges), they are far less likely to be amenable.

chilli_dog

Been scouring the terms & conditiond for you but cant find an exact answer.

https://applyonline.abbeynational.co.uk/olaWeb/ffi/static/product_apply_anba_popup_tandc.html

They do say they will listen to you,

3.4.4 We consider cases of financial difficulties sympathetically and positively, and we have a specialist team that can help. If at any time you feel you are unable to repay any money that you borrow from us, let us know and we will arrange a time, as soon as possible, to talk through the matter with you. We can tell you where you can obtain free money advice, and if you want us to, we will work with debt counselling organisations on your behalf. You should contact us at the first signs of financial difficulty so that we can develop a plan to help you. This plan will be sent to you, and reviewed as appropriate. If you are in financial difficulty, you should tell us about all your full financial circumstances as it might help us to find a solution quicker.

Maybe ask them to reinstate it and to reduce by £50 or so a month.

Good luck with it

needawayout_2

blah blah blahhhh

MarkyMarkD

For goodness's sake.

I am making useful suggestions about how to deal with the bank.

If you want to go to them and say frankly stupid things like "you are stealing food from my kids' mouths", then waste your time saying it. It won't get you anywhere further than taking a calm, collected approach and explaining how you are going to resolve your overdraft situation over time.

I haven't given you a telling off. I've merely pointed out that if you have constantly breached your existing overdraft agreement, the chances of getting it renewed - or reinstated - are significantly less than if you have complied with it 100%.

Maybe you should get off your own jaundiced high horse and accept good advice which you are being given?

Or maybe just go to a forum for people who want to be told "everything you say is right, the banks are awful, blah blah blah".