Gone overdrawn... again

Tobes

Tobes

Tobes

Soldato
Joined
27 Mar 2004
Posts
6,698
Location
Devon
OK just going to give you a quick story

Went overdrawn last month by £30. Had to pay Natwest £28 charge. This charge has only shown up recently and it's put me overdrawn again. So now I guess I owe another £28. I have had to chuck the cash in from my ISA.

I'm now slightly annoyed as I don't spend money unless I have it. So I would prefer it if my card got handed back to me telling me I cant buy whatever I am trying to by because I have no cash. I guess because I'm not 16 any more that this happens and I should manage my money better etc. That's fine I can live with that. But I think with all the paper statements coming through from Natwest, the crap online service and whenever I setup a new account with them they can't seem to send me the welcome pack or transfer the funds over automatically.

I currently have 3 accounts with Natwest. 2 current plus accounts and a ISA which has hardly anything left after I used the cash to by a car. So because I no longer want to stick with Natwest I'm a little confused as to what I want now. I guess I want a account where I can chuck money in and spend the cash and an account where I can throw any spare cash in where it can build up.

I have been on moneysavingexpert.com but the site is crap and I just can't understand the layout. So I have come to ask you guys and gals for your input :)

Anyone have any ideas on what I should be looking for?

Thanks for your time
 
I guess so. But I would prefer having separate accounts so that I don't spend money because it's there. I was told that with ISA's it takes 28 days for the money to come out. This wasn't true with Natwest and I started taking small amounts of cash out. I know half of the problem is me and I should hold back... but I like to treat myself... too often :p
 
The amount of notice you have to give depends on the bank and account.

Look for postal accounts if you want to stop yourself spending it. Or something like an eSaver with the Nationwide, and when you want money out you order a cheque. Therefore taking the convenience out :)
 
Not what you asked but...

I have been overdrawn with Natwest before and exactly like you, after paying off one overdrawn charge, i was stung the next month. I just went in to a branch, had a chat regarding the charges and they withdrew them.

I found Natwest really helpful.
 
Go in and speak to Natwest about your situation generally and see what they can offer you. In theory they want your trade remember :)
 
So the charges they might give back? I just assumed that I was in the wrong so had to pay them that money.
 
If you don't question it, they'll get your money anyway. So question it, what have you got to lose? :)
 
Sorry to hijack the thread but last Monday I had a DD scheduled for £60 from Cannons, I had transfered the money in on the Saturday 2 days earlier via telephone banking. I checked online on Saturday to make sure the £60 was there and it was, but come Monday the DD was rejected and I was charged £38, anyone know if I have grounds to complain and get it reversed?
 
how come you are getting charged for going overdrawn, i have a £3000+ overdraft from the natwest without even asking.
 
As others have said, go talk to them in person and get it sorted out. If they refuse to at least refund the second charge, kick up a fuss and close your account (of course at least get another one setup elsewhere before you do that ;))

Are you a student? If so ask for an interest-free overdraft on a student account. If not, then try to apply for an overdraft so you don't get charged for going overdrawn without authorization, again. Store some money in a saver's account for instant-access reserves, put all your income in your current account with a £100 or so "buffer" just in-case you are spending more than usual in a certain week/month. Keep tracking your balance and make sure that when you hit £100 you start restricting your expenditure until you get more income. That way you shouldn't even need to use your overdraft if you get one. Keep larger amounts of money in an ISA account and DO NOT touch it, until you want to use or invest it in something.
 
Thought I would update this.

A couple of weeks ago I went to a Natwest bank to get some money out without a card. Helpful service as usual. Wanted to know if I wanted to upgrade my account. I would get loads of benefits. Sounded good. I didn't have another lesson for a while so I spoke to someone there and they told me it's a charge or £20 a month for this upgraded account so naturally I pass. While I was there I told her about the first charge and if I could get a overdraft. She asked how much and I said £100 will do.

Anyway what do I get through the post today but a letter for the second charge which happened between the 29 sep - 2 november. It says in the letter that my agreed borrowing limit is £100 and I will be charged £28. I assume this is because I went overdrawn before the limit was agreed. As the whole thread is basically because I went overdrawn because of the previous overdraft lol.

Just slightly annoying that they take so long to charge me. Now it's another trip to the bank next week to try and reclaim this.
 
This is semi on topic so I'll post it... what's going on about these bank charges at the moment? They were all supposed to be going to court and reaching a final decision on their legality, but they're still charging them in the meantime?
 
Correct, and you can't claim them back using legal tactics because they'll just fob you off with the court case.

I had the same problem with Lloyds about getting charged - they agreed to refund the charge on the spot (well, I had only gone 38p over and cleared the debt as soon as I found out about it), but then charged me anyway and I had to ask a second time to get the charge refunded. To be fair though they did tell me the first time that was probably what would happen.
 
the banks applied to carry on the charges until the court case is over and it was agreed they could.

i honestly can't see the banks losing the case if you think how many ppl they would have to pay if they did
 
Ugh, sorry to bump a old thread.

Really out of pocket at the moment so I drove to Natwest to pay in a family members cheque and to ask about the fees and if I could get them back. She told me I had to ring up their call centre which I thought was odd as I was standing right in the bank. I should be able to sort out all my dealings with Natwest at the branch shouldn't I?

Anyway I have done a search on these forums and it looks like banks are not refunding charges until the case is finished. Any updates on this at all?
 
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