closing accounts

lindaelse4

I was with lloyds tsb & 4 weeks ago had a letter from them to say that I had gone overdrawn by £50.00 for 6 days & they were going to charge me £130.00. I wrote two letters asking them not to charge as I was away at the time but they still went ahead & charged me. I wrote to them & ask them to close the account immediately as it was now overdrawn due to them taking the charges out & they have just returned my letter saying they are not able to authorise this as the bank will not close the account. Help what will I do this just means they will carry on charging me & could run up hundreds. can anyone give me any advice please:money:

anniecave

The fact that you were away at the time is not really an excuse, unless any of the items that contributed to you being overdrawn were made without your authority (eg fraud or a direct debit taken in error).

I would pay up the £130 into the account (borrow money from someone if you have to - family member/friend/employer) and pay it back and learn from the mistake. Otherwise, as you said they will just keep charging you.

LTSB do charge a lot for short term borrowing, but so do all banks I'm afraid.

I always actively manage my account, I know exactly what is in there, what is due to go out when, all on an excel spreadsheet, as I don't want anything like that happening to me!

Bosie

I sympathise as my hubby has just been hit with a charge of £38 and it was due to BT claiming money a week too soon.
I think it's criminal to be honest what they charge, it maybe best to pay them, or the charges increase. Plus the stress it causes, we are getting rid of DD's that can be paid in cash!

Bo x

PROLIANT

Bosie wrote: »

I sympathise as my hubby has just been hit with a charge of £38 and it was due to BT claiming money a week too soon.
I think it's criminal to be honest what they charge, it maybe best to pay them, or the charges increase. Plus the stress it causes, we are getting rid of DD's that can be paid in cash!

Bo x

Your case is covered under the direct debit guarantee, if they have taken the money early then you are entitled to a refund of all charges and any bad credit markers and history with the bank deleted immediately!

PROLIANT

lindaelse4 wrote: »

I was with lloyds tsb & 4 weeks ago had a letter from them to say that I had gone overdrawn by £50.00 for 6 days & they were going to charge me £130.00. I wrote two letters asking them not to charge as I was away at the time but they still went ahead & charged me. I wrote to them & ask them to close the account immediately as it was now overdrawn due to them taking the charges out & they have just returned my letter saying they are not able to authorise this as the bank will not close the account. Help what will I do this just means they will carry on charging me & could run up hundreds. can anyone give me any advice please:money:

Sorry but I can't offer much advice here as it was a genuine mistake by yourself, we all make them but it was not the banks fault so all I can say is grovel to them and see if they will reduce the fees for you and do this at your branch rather than writing to them.

YorkshireBoy

PROLIANT wrote: »

Your case is covered under the direct debit guarantee...

No it isn't. OP (from info on another thread) banks with NatWest. The £38 charge is an 'unpaid item fee', therefore the money never left her account.

...if they have taken the money early then you are entitled to a refund of all charges and any bad credit markers and history with the bank deleted immediately!

No you're not. The DD guarantee does not cover consequential loss or effect.

OP will have to rely on 'goodwill' from NatWest, or take the matter up with the DD originator.

PROLIANT

YorkshireBoy wrote: »

No it isn't. OP (from info on another thread) banks with NatWest. The £38 charge is an 'unpaid item fee', therefore the money never left her account.

No you're not. The DD guarantee does not cover consequential loss or effect.

OP will have to rely on 'goodwill' from NatWest, or take the matter up with the DD originator.

If a DD comes out before the signed and agreed date then it is covered, well in my T&C's it is anyway, you would think that all DD agreements were all the same would you not?

YorkshireBoy

PROLIANT wrote: »

If a DD comes out before the signed and agreed date then it is covered, well in my T&C's it is anyway, you would think that all DD agreements were all the same would you not?

In this case, the DD has not "come out". It was 'requested', but refused by NatWest...for which action they have charged a fee.

BACS_DD_Guarantee wrote:

If an error is made by the organisation or your bank or building society, you are guaranteed a full and immediate refund from your branch of the amount paid.

PROLIANT

YorkshireBoy wrote: »

In this case, the DD has not "come out". It was 'requested', but refused by NatWest...for which action they have charged a fee.

Sorry I must have misread the post, I was under the impression that the money was in around the date the DD was due, the OP stated that the DD was requested a week early, that was my understanding.