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Old 13th Apr 2006, 17:51   #1
Chads
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Natwest's punishment for going over account limit.

A long story, but basically my student current account is suddenly 800 over it's limit. Do any of you know how much Natwest is going to charge me for this? Someone told me they might charge 20 a day?

Any help appreciated,

Cheers.

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Old 13th Apr 2006, 17:53   #2
Orifice
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Its not a day, i think they make a maximum of 3 charges of the same type in a month. Ring them and ask, phone banking is 24hr. Normally their pretty helpful, although i've never been 800 over any agreed limits
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Old 13th Apr 2006, 17:59   #3
pyro
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I get charged 30 every time I go overdrawn, if it happens again I will show up with a shotgun I don't even wanna think what 800 over is gonna be! Good luck

Last edited by pyro; 13th Apr 2006 at 18:01.
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Old 13th Apr 2006, 18:01   #4
daz
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I assume they've discovered that you are no longer a student?

Ask them if they will let you take out a loan for 800 and pay it back at an agreed monthly rate.

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Old 13th Apr 2006, 18:01   #5
Bar
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Remember bank charges for going over your overdraft limit are reclaimable. Currently being reviewed to see if they are illegal.

My bank have just sent a letter out to all customers advising that they will no longer charge for customers going over their overdraft limit.

Sounds like an admission of guilt to me.
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Old 13th Apr 2006, 18:03   #6
GlasgowTitan
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Quote:
Originally Posted by Bar
Remember bank charges for going over your overdraft limit are reclaimable. Currently being reviewed to see if they are illegal.

My bank have just sent a letter out to all customers advising that they will no longer charge for customers going over their overdraft limit.

Sounds like an admission of guilt to me.
Then whats to stop people just spending and spending if they wont get penalised for it?

Save a cow, eat a vegetarian!
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Old 13th Apr 2006, 18:08   #7
Bar
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Because the banks can demand an immediate settlement of the debt, they can affect your credit rating, they can demand the immediate return of all the cards, cheque books etc and send the bailiffs round to enforce it.

The bank charges argument is that the charges are unreasonable and in effect are punitive which the banks are not being allowed to get away with - regardless of whether you agreed to the charges or not.
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Old 13th Apr 2006, 18:08   #8
Orifice
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Quote:
Originally Posted by GlasgowTitan
Then whats to stop people just spending and spending if they wont get penalised for it?
The banks will probably just remove your overdraft facility, and possibly do away with free banking. They wont lose out.
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Old 13th Apr 2006, 18:09   #9
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Presumably some sort of facility in place by the bank to stop you taking money out when you reach the limit of you overdraft?

But that's probably too simple, banks seem to love letting you take out more money than you're supposed to, then tell you it's wrong and charge you extortionate amounts.
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Old 13th Apr 2006, 18:11   #10
Matteysan
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30 for me every few weeks im over the draft

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Old 13th Apr 2006, 18:19   #11
whitecrook
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Quote:
Originally Posted by Chads
A long story, but basically my student current account is suddenly 800 over it's limit. Do any of you know how much Natwest is going to charge me for this? Someone told me they might charge 20 a day?

Any help appreciated,

Cheers.

Nope. Phone your branch and ask there maybe? They'd be able to offer proper advice and you may be able to get some kind of deal made to get out of a potentially expensive situation.
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Old 13th Apr 2006, 19:01   #12
Bracco
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0845 609 0000 - Natwest customer services. Much better place to ask than computer forums.
It's difficult to get so far overdrawn though unless it's 1st party fraud or account misuse (which imo are the same thing), so you're probably very aware of why the account is "suddenly" so overdrawn.
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Old 13th Apr 2006, 19:32   #13
Third Opinion
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Quote:
Originally Posted by Jolteh
Presumably some sort of facility in place by the bank to stop you taking money out when you reach the limit of you overdraft?

But that's probably too simple, banks seem to love letting you take out more money than you're supposed to, then tell you it's wrong and charge you extortionate amounts.
Please don't get me wrong I am not on my high horse.

However you guys really need to budget rather than rely on others to stop you overspending. Student or not it's a life long lesson.

The world is full of sharks that will take it advantage of you if you need to borrow more than you are allowed.
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Old 13th Apr 2006, 23:15   #14
Chads
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Quote:
Originally Posted by Bracco
0845 609 0000 - Natwest customer services. Much better place to ask than computer forums.
It's difficult to get so far overdrawn though unless it's 1st party fraud or account misuse (which imo are the same thing), so you're probably very aware of why the account is "suddenly" so overdrawn.

What the hell is that post supposed to mean? My rent was taken out early, it's supposed to synchronise with my student loan. Tit.

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Old 13th Apr 2006, 23:30   #15
disfunktion
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If thats the case, explain it to them and more than likely they will give you a temporary overdraft increase until your loans comes in.

HSBC have done so for me in the past, and they can do it with immediate effect over the phone, so i presume Natwest will offer the same.
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Old 13th Apr 2006, 23:40   #16
Shotgun_ned
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When I went overdrawn they charged me 28.50. They charge you for every item they're obliged to pay I think.

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Old 14th Apr 2006, 00:27   #17
NokkonWud
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Quote:
Originally Posted by Chads
A long story, but basically my student current account is suddenly 800 over it's limit. Do any of you know how much Natwest is going to charge me for this? Someone told me they might charge 20 a day?

Any help appreciated,

Cheers.
As a student you get a 1200 overdraft, you won't be charged, you can up it 200 per year at University.

Lover of people.
Team Member of Cane and Rinse.
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Old 14th Apr 2006, 00:45   #18
Bracco
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Quote:
Originally Posted by Chads
What the hell is that post supposed to mean? My rent was taken out early, it's supposed to synchronise with my student loan. Tit.
First of all, I believe personal insults are not allowed on these forums. Secondly, if your rent is high enough to take you that far past your overdraft limit, then it must be charged per term. In which case, you will almost certainly have been given a letter at the start of the year telling you which dates the accomodation fees would be taken out. If it was an error on behalf of whoever took your rent out, then I doubt you'd be asking how much you'd be charged, and instead be insisting that they be responsible for any charged incurred.
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Old 14th Apr 2006, 00:49   #19
TomWilko
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To get this back on track and be somewhat helpful to the thread. Is this the first time you have been overdrawn? If it is, both myself and my mum have both gone accidently over the accounts on both the credit cards and bank accounts before.

As a one time good will gesture if you ring and explain the situation there is a very good possibility they will remove the charges for you, especially as this appears as a genuine case. They are that scared of losing your custom!

You can but try, if they refuse then you'll probably have to go to the person that takes the rent or see in your contract when payment should have been taken.

Hope this helps.

RIP Zoltan
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Old 14th Apr 2006, 01:33   #20
bigredshark
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natwest have charged me 30 or so in the past, and whoever it was, leave it out, there's plenty of legit reasons for going overdrawn without realising it.

They'll probably charge you 30 i reckon, depending on what your local branch is like you might want to go have a chat with them, natwest have been very helpful and considerate for me in the past and they keep my business because of that

now without signature! ;(
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Old 14th Apr 2006, 04:39   #21
Clarkey
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natwest are incompetant, i went over my limit the other day and they sent me a letter saying they had doubled by limit. Great i thought, till i couldnt get any cash from an ATM. I call them up and they have no record of any increase in overdraft limit, fantastic.

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