Went over my overdraft

Fuzz · 2 Apr 2011 at 15:16

You went over your overdraft, so not only did you not have the money in the account to start with, you didn't even have enough money to pay the overdraft.
Accident waiting to happen to be honest.

Stay out of your overdraft, then if something like this crops up, which it will do from time to time, it's no big deal.
Your overdraft isn't "free money"...

By all means have an overdraft, but don't live in it!

Overdrafts should be treated as a safety net, not a hammock !

brucey034 · 2 Apr 2011 at 15:20

Scubascorpion said:
You went over your overdraft, so not only did you not have the money in the account to start with, you didn't even have enough money to pay the overdraft.
Accident waiting to happen to be honest.

Stay out of your overdraft, then if something like this crops up, which it will do from time to time, it's no big deal.
Your overdraft isn't "free money"...

By all means have an overdraft, but don't live in it!

Overdrafts should be treated as a safety net, not a hammock !

I agree with you totally.

Tummy · 2 Apr 2011 at 15:24

I went 39p over drawn a while ago

paid the money in less then 24 hours later and still faced a £72 charge.

Strife212 · 2 Apr 2011 at 15:26

What kind of bank has a £72 charge for going overdrawn? :S

Simon · 2 Apr 2011 at 15:26

Santander are crap

mikeyp123 · 3 Apr 2011 at 03:21

Somehow managed my first year at uni without a student overdraft :s

Dave85 · 3 Apr 2011 at 03:41

God I love the thinking of some people. Sure enough charge him £25 and a £5 for that day. But to charge him 25 quid each time is just crazy. Charges have to be justified. No wonder our banks are skint if it costs them £25 in admin charges each time someone goes over the overdraft limit.

Ironic Namesake · 3 Apr 2011 at 05:31

If it wasn't for these charges then we probably wouldn't have free current accounts in the UK

jon86 · 3 Apr 2011 at 06:14

Ironic Namesake said:
If it wasn't for these charges then we probably wouldn't have free current accounts in the UK

I'm sure quite a number of people are (starting to) use 'premium accounts' for "benefits" like mobile insurance, breakdown, etc.

Ironic Namesake · 3 Apr 2011 at 06:18

jon86 said:
I'm sure quite a number of people are (starting to) use 'premium accounts' for "benefits" like mobile insurance, breakdown, etc.

But even without these benefits, in some other countries current accounts aren't free ... not sure how much other charges are exactly though.

jordan282 · 3 Apr 2011 at 09:37

ask them to waiver the charges. I wont say which bank does but I know a bank that waivers 1 set of charges every 12 months

stopper · 3 Apr 2011 at 10:18

Some thing has recently come to mind that might help the OP

Did you sign a law binding contract saying you will pay the excessive fees created by going over the overdraft limit?
Nope you didn't, you probably signed an unenforcable unilateral agreement which wasn't matched on their side with equal consideration...all they have is an IOU note. Companies can't sign contracts, only human beings can.
Challenge them with this and see what they say.

Don't be fooled or scared into thinking you "have" to pay those charges. If they say you signed that contract, tell them (in writing) you will agree to pay the owed money on the condition they can produce 1. Validation of the debt , 2. Verification of their claim against you (a sworn affidavit or even just a signed invoice), and 3. A copy of the contract binding both parties.
Since none of these exist, there is nothing they can do.