I recently switched my current account to santander as I fancied the £100 for switching cos the good interest. I hadn't read the bit about no interest being paid at all if you have more than £2500 and I paid in a cheque for about £16 000. When I paid it in was advised to open a savings account but I had already applied for an e-savings online so I said that would be open soon and I would transfer the amount to the e saver once it was cleared so I could get current account to below £2500 and get interest on that and also get interest in the £16000.
However, santander took ages to open the e savings so I used santanders online banking service to transfer a large amount back to my natwest account.
Shortly after I had done this, I found the e savers had been opened! I was getting very little interest at natwest so tried transferring back to santander using natwest's online banking! This wasn't possible as Natwest require a card reader to transfer to a non natwest bank and I don't have one so I then wrote myself a cheque and paid £13000 into santander.
I yesterday found out I was apparently £11000 overdrawn and I don't have an arranged overdraft facility. My online statement said there was an adjustment for cheque difference and I didn't know what this meant so I rang up and they said the cheque was on delayed clearance which usually happend when its considered suspicious. They then checked with their fraud team and they said yes this is what is happening. Customer services also said they had made a mistake and I shouldn't be overdrawn as I had £1800 in my account before hand so that has now been amended and I am no longer overdrawn but I still have to wait for my cheque to clear!