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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

Don't even know where the fark to put this!!!

22 replies

mamadiva · 27/08/2008 11:50

Bloody bank has cancelled my overdraft and can't tell me why just that the overdraft had to be closed! What the fuck! Problem is I'm in a bit of debt and have been living off it sort of whilst clearing it! I have no money at all until Friday and have no shopping! What the eh;ll am I supposed to do! I'm sitting here in tears have phoned them and they won't bloody give me areason for shutting it. The account is open but is £230 Overdrawn I think they are going to apply charges for it but surely that's not right!

OP posts:

FlightAttendent · 27/08/2008 11:52

Which bank was it? Was it an authorised overdraft? That's unbelieveable.
I think I owe mine more than that (authorised) at the moment, as we just moved house so I had to buy carpets etc (and went shopping at Boden, ahem )

Can they just do that?

Original poster

mamadiva · 27/08/2008 11:56

It was an authorised overdraft of £200!

I am just struggling to pay at the moment but was managing on the £200 TBH I really don't know what to do and I've just remembered I was going to gte electricity today out of it! Am such an idiot using my overdraft to live on, it's just till I get a new job at the mo I'm minimum wage and anything I earn pays rent etc.

OP posts:

hollyandnoah · 27/08/2008 11:56

hey,

This happened to my oh last month, straight after his payday. He had a £300 overdraft and it just cancelled, after he had paid his rent and other bills he had something like £40 for the whole of the month.

The bank could give no explanation for it. It is their money at the end of the day.

He had DD still to come out, like the tv licence and cable i think. He ended up with 3 charged anyway, it was like - £87.

Was the Royal bank of Scotland.

The boy he spoke to in the bank said that someone else had complained of the same thing happening a few days before.

caykon · 27/08/2008 11:56

Mine did something like this in the end it turned out it was because i had moved another account over so i had one account at 1 bank. This changed my authorised overdraft to a 3 monthsperiod to allow with delays in transfer to them, even though i had the overdraft previous.When 3 months ended my overdraft vanished overnight. I called them though and they sorted it

FlightAttendent · 27/08/2008 11:58

Oh dear.

Were they charging you interest on the o/d?

I think some student ones don't pay interest. I pay interest on mine - quite a lot.
Are you an ex student, because they have been known to close those if you no longer qualify?

Original poster

mamadiva · 27/08/2008 11:59

I'm going to have to get something sorted it's with The bank of scotland.

If it doesn't get sorted fast I don't know what I'll do, no electricity and no food isn't good for a 2YO. I can't even look after my own fucking kid!

OP posts:

Fimbo · 27/08/2008 12:00

Is it anything to do with that laptop sold on Ebay that contained details of Royal Bank & Nat West customers?

I may be clutching at straws but will try to find a link

Fimbo · 27/08/2008 12:02

here

Fimbo · 27/08/2008 12:03

Oops sorry cross post - you are with BofS - ignore me

Portofino · 27/08/2008 12:06

I had this recently with the Nationwide - they reduced my agreed overdraft without telling me and bounced all my direct debits - several pssed off companies who charge for the privilege of late payment. Nationwide then had the temerity to charge me interest/return dd fees and unauthorised overdraft fees - Bst*ards! So this month, I have not transferred enough to the account to pay all the dds again! I'm most peed off about it as I could have avoided all this if they had told me! I'm putting it down to the credit crunch - and think people who have the more "unhealthy" bank balances are going to get hammered now.

nervousal · 27/08/2008 12:07

I don't understand - you have an authorised od of £200. You are currently od by £230 and are annoyed that bank won't give you any more money? Why should they?

MrsTittleMouse · 27/08/2008 12:11

This has been happening to a lot of people recently as banks have been tightening up due to the credit crunch. It is completely legal. If I were you, I would phone up the bank, or go into your branch, and try to come to some kind of agreement. Could you agree to shrink the overdraft by £20 a month for the next 10 months? Of course, if you made an arrangement, you'd have to make sure that you kept to it completely, or they would be well within their rights to penalise you severely.

thebecster · 27/08/2008 12:12

So sorry to hear what a tricky situation you're in! It's much harder to get an overdraft or credit card from banks now because of the credit crunch, and if you've been used to easily available credit (which we all have, for years now), its a shock when it disappears. Is there any way you can get an advance on your wages, or borrow from family just for necessities to get you through? It sounds like you'll have to live on a very tight budget in the meantime. There are some brilliant 'cheap living' threads on MN that have really helped me on lean months.

FlightAttendent · 27/08/2008 12:16

Mamadiva - this isn't your fault. Please don't feel awful

I know it can really make you feel like a bad person but you are not and they are arseholes not to warn you.

VictorianSqualor · 27/08/2008 12:18

If you go over your O/D then you're breaking terms and conditions so they are authorised to cancel it.

slavemum · 27/08/2008 12:20

bos did similar to us 4 years ago. Had 2 acc's, wages went in one, standing order with all money for bills to the other, with an overdraft on it. Cancelled the standing order and the overdraft while we were on holiday, came back to letters from mortage company, power company, council tax. was a freeking nightmare. and loads of bank charges as the direct debits had all bounced, then unauthorised overdraft charges cos of the back charges!!! Left us with alot of problems and took ages to get back on our feet.
Got our own back last year tho with the charges. successfully claimed 6 years worth.

Mamadiva, you could maybe phone ombudsman and get some advice?

armarda · 27/08/2008 12:37

Hmm, are you near a branch? If so then go in, insist on speaking to a manager and make a scene if they won't let you. Ensure you use the phrase "treating customers fairly" several times. Also this from the Banking Code which they will be signed up to may be useful to waive at them:

14 Financial difficulties
? how we can help
14.1 We will be sympathetic and positive when we consider
any financial difficulties you may have. Our first step will be
to try to contact you to discuss the matter.
14.2 If you find yourself in financial difficulties, you should let
us know as soon as possible. We will do all we can to
help you to overcome your difficulties. With your cooperation,
we will develop a plan with you for dealing
with your financial difficulties and we will tell you in
writing what we have agreed.

14.3 The sooner we discuss your problems, the easier it will
be for both of us to find a solution. The more you tell us
about your full financial circumstances, the more we
may be able to help.

2beornot2be · 27/08/2008 12:41

You can claim all of your bank charges back from the last 6 years. Did you know that your banks are only allowed to charge you no more than £4.90 for admin fees I claimed all my charges back from 6 years from barclays and I ended up with £862 back which was lovely I will find the link with the forms as they are very simple to fill out

armarda · 27/08/2008 12:53

Bank charge reclaims are currently on hold at the moment as there is some litigation going through the courts although banks are meant to look at certain extreme cases of hardships. What level is acceptable is not something that has yet been settled legally.

That's not to say you shouldn't put in a claim for charges incurred but to be honest if the no 1 priority is getting money for the next few days I probably wouldn't start this quite yet.

Shoshe · 27/08/2008 13:10

HSBC did this to us last month, just stopped it with no reason given, and no it wasn't over the overdraft limit, so that was not the reason.

We had three accounts with them all with overdraft facility, the only one that now has is the premium one that we pay for!

TheCrackFox · 27/08/2008 13:15

I cannot offer any advice but can repeat the mantra that all banks are cunts. There was a programme on C4 the other night called ( i think) "How the Banks Never Lose".

Original poster

mamadiva · 27/08/2008 14:43

Well thank you all for your feedback!

Nervousal - I'm not moaning that they won't give me anymore money I'm moaning because they just randomly cancelled my overdraft and infact the £30 over the overdraft was a charge which they took because my rent took me wait for it... 20p over my overdraft limit! Yeah £35 for 20p

I phoned the bank and asked and asked to talk to head office they eventually let me, apparently it's because I use my overdraft too much not going over my overdraft but because I basically live in and out of it at the moment until I get a better paid job, I explained that no one told me the oevrdraft was not for using and that it is just there to make my bank balance look larger and I shouldve known that you are not allowed to use any of it really

Well they are giving me it back tomorrow and I will have it reduced by £50 every month. Bloody idiots so they are.

OP posts:

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