I'm being properly done over here

ian9outof10

Hi all,

Here is my story, would appreciate any info or advice you lot might have!

I have a bank account that pays our estate agent. We have moved out, so wanted to cease the standing order from my account to theirs. Regrettably I did it too late, so I called them, and they told me that because there wasn't enough money it would bounce back and that I'd be charged £38. I was told that I could possibly get the £38 back, but I'd have to call today. Which I did.

Today, however, I have discovered that Natwest paid the full amount anyway, even though there are insufficient funds. This means the account is now overdrawn by £1000.

I called and told them that I didn't want this to happen, and that I was outraged they were taking decisions and action with my money, my bank account without my say-so.

The long and the short of the discussions was that the money has gone to the estate agent and I can't get it back, not yet at any rate. Which leaves me in debt, with massive interest charges to look forward to and bank charges mounting up as we speak, the first will be for an unauthorized overdraft, and there will be another one in the next billing period, which is the end of the week.

How I'm going to pay all my bills I have no idea. Any advice?

borgbaiter

hi

very cryptic and not at all usefull. if it was a direct debit and shouldnt have been taken the bank should recover the money under the direct debit guarentee.

i suspect the fact they paid it is a direct result of the initial result of the oft case. As if they bounced it they would not in the judges opinion be offering a service but if they pay it they are.

more details of the exact circumstances is probably needed. i suggest you get all the facts together and see your bank manager. be polite. it would be best to get the overdraft formalised as soon and if possible.

good luck


borgbaiter

ian9outof10

borgbaiter wrote: »

hi

very cryptic and not at all usefull. if it was a direct debit and shouldnt have been taken the bank should recover the money under the direct debit guarentee.

i suspect the fact they paid it is a direct result of the initial result of the oft case. As if they bounced it they would not in the judges opinion be offering a service but if they pay it they are.

more details of the exact circumstances is probably needed. i suggest you get all the facts together and see your bank manager. be polite. it would be best to get the overdraft formalised as soon and if possible.

good luck


borgbaiter

It was a standing order, borgbaiter, which was why they claim they couldn't recall it. Apparently they've recently changed the system to prevent recalls. DDs can still be called back.

They told me that it was only because my credit rating was excellent that they did this, but I never asked for this 'service' and now it's going to mess up my accounts for a long time, because I've had to cover it with money I'd earmarked to pay a credit card bill that was larger than usual this month.

At the end of the day, it's my fault I didn't cancel the standing order in time. But I expected the charge for that, not a series of unauthorized overdraft fees and massive interest.

I'm just going to have to chalk this up to experience and hope that I can work round the other bills until I can get the money back from where it has gone by mistake.

borgbaiter

hi

well all the best and i hope it doesnt casue to much problem. have the banks changed the direct debit guarantee tho as i havnt heard of this yet.


borgbaiter

jamesd

They say that your credit is excellent, so seek an overdraft facility sufficient to cover the bills and keep it far into the future to protect you. Mine is about two months salary, rarely used for anything other than protection.

You called and were told that the standing order would not be paid. Rely on that when seeking refund of the other charges because that advice from them is what caused you not to seek an overdraft facility that would have avoided them during that phone call.

Tozer

borgbaiter wrote: »

hi

well all the best and i hope it doesnt casue to much problem. have the banks changed the direct debit guarantee tho as i havnt heard of this yet.


borgbaiter

Its a standing order not a direct debit. Direct debit guarantees do not apply to standing orders.

borgbaiter

hi

i sit corrected :-)

i thought standing orders were easier to cancel tho. personally i dont do either and rely on my failing memory to do it manually. least then i can blame no one but me.


borgbaiter