Can a bank remove an overdraft without telling the customer?

[Biohazard]

Halifax and BoS are run by morons, so I understand why you have had difficulties.

 

[Aod]

I'll give them a ring tomorrow and see what they say, the bank is Natwest btw.

I don't think I have any un-opened mail from the bank, as I don't receive paper statements any more I tend to make sure to open all my mail from the bank just to make sure I've not defaulted on anything. I will check with my other half, she has a habit of throwing letters in a draw or under a magazine.

And tbh I never looked through the T&C's, well not in detail anyhow. I do like to have the OD there 'just incase'. So the bottom line seems to be "borrow money and you can keep it as long as your in debt"

Thanks for the input, glad to know that this kind of thing does happen, **** a brick at first, thought someone had pinched £400 out of my bank!

Did you graduate from uni last year or the year before? Natwest occasionally remove student overdrafts without notice 12-18 months after you graduate if you aren't using it.

 

[edscdk]

I can see why this is annoying, albeit perfectly 'legal'. My wife had her credit card limit slashed by about 85% without warning once meaning that her card was declined in the supermarket a while back.

Some people have a 'use it or lose it' philosophy whereby they like to keep their overdrafts near the limit as otherwise they might take it away and "you'll never get that money back". Of course, stay like that for a few years and they'll likely have paid out more in interest/fees than their overdraft limit anyway

I think someone in the industry explained why this happens a while back in a thread...

something like if you have an overdraft and never use it, should you ever use it there is a likely hood something is wrong.... so they remove it...

i think he said its something that they have always done in theory but got stricter after the CC

 

[pgi947]

Did you graduate from uni last year or the year before? Natwest occasionally remove student overdrafts without notice 12-18 months after you graduate if you aren't using it.

Nope, never been a student either, full time employment since I was 16!

 

[Liquid_Entity]

Nationwide closed my account this month and they didn't send me a letter, admittedly I hadn't used it in over a year, they sent me a cheque for the remainder in the account and closed it. Saved me a trip to the high street to do it myself.

 

[jordan282]

all banks are the same. Its just individuals that let you down