Problem with bank overdraft.

cyborg · 29 Jun 2006 at 18:28

My friend recently needed to use his bank account again, after not having to for over a year because he was getting cash in hand working as a plumber. He had £5 overdraft then which has now somehow grew to £220. Is there anything he can do about this or does he just have to take it on the chin?

ElRazur · 29 Jun 2006 at 18:30

cyborg said:
My friend recently needed to use his bank account again, after not having to for over a year because he was getting cash in hand working as a plumber. He had £5 overdraft then which has now somehow grew to £220. Is there anything he can do about this or does he just have to take it on the chin?

I guess the original "overdraft" wasnt agreed with the bank, and having not used it for a year, it accumulates further charges of some sort or perhaps an administrative error, which ever way speak to the bank.

Majago · 29 Jun 2006 at 18:40

On the basis he'll probably have saved more than the £215 he's lost by not paying tax, he'd probably be as well to keep quiet and take it on the chin

ElRazur · 29 Jun 2006 at 18:49

What is wrong with those picking on the fact he aint paying no tax? The op asked for advice on Overdraft issue and not a moral drilling on not paying tax......Gwad!

cyborg · 29 Jun 2006 at 18:51

Actually he does pay tax even with getting cash. He was just recently complaining about the amount he had to pay.

ElRazur · 29 Jun 2006 at 18:52

Xpander said:
What goes around comes around.

I dont see what goes around to come right back. We dont know the true story.....Gwad posters in here can be ott sometimes.

Pez · 29 Jun 2006 at 19:03

An overdraft is when the bank have given him permission to spend money that doesnt belong to him.

In this situation, it sounds like he is overdrawn which is a completely different situation.

Spuderoony · 30 Jun 2006 at 00:20

Well, no, you're overdrawn whenever you're in a debit balance. You just go outside of agreed limits (whether that be 1,500 or 0).

Vixen · 30 Jun 2006 at 01:09

Pezboy said:
An overdraft is when the bank have given him permission to spend money that doesnt belong to him.

In this situation, it sounds like he is overdrawn which is a completely different situation.

He's right, and I really don't understand the OP unless it means that he has left an account £5 past his overdraft and now has charges to pay. To be honest, it's his own fault. There are terms and conditions when opening a bank account that he should have read, and if he was past his limit, he should have rectified this before just "forgetting" about the account.

cyborg · 30 Jun 2006 at 01:19

Overdrawn. Sorry for using the wrong terminology. Yes its his own fault but its not as if he done it willingly thinking he won one over on the bank.

cheets64 · 30 Jun 2006 at 01:28

Own fault, if he was having it paid into his bank account thus paying taxes he wouldnt be in this situation.

I cant see him getting the charges back as they will wonder where his wages where going.

Brian Stuart · 30 Jun 2006 at 02:29

Have a look at this site CAG

Excessive bank charges are unlawful and can be claimed back.