Iun Posted April 22, 2009 Share Posted April 22, 2009 How do you like this? In China, I bought our Wedding Rings, I took out money from the UK bank to pay. Normally, if I don't have enough money, the ATM rejects it. So I withdrew enough money, thinking the was no problem. BAM! I get an email from Dad, and I went "overdrawn" when I took the money out. Evend though I told Natwest I wanted no overdraft whatsoever, they still gave me an "unauthorised" overdraft, I THOUGHT UNAUTHORISED MEANT YOU COULDN'T DO IT?! So they send my pater a letter saying they will charge me 28 quid for this at the end of the month. I got my grandma to pay in 20 quid to pay off the "overdraft" figuring it couldn't be more than 10 GBP at most. BUT WAIT! Natwest STILL took away the 28 quid at the end of the month, leaving me, yes, you guessed it: EVEN MORE IN "DEBT"! I wrote them a letter authorising them to give my grandmother control over the account. I told them where I was living and to send any further correspondance either to my Shanghai address or my grandmother. OF COURSE! Silly me! Giving them my account numbers, signature and private question details like they told me to was not enough! So they, assuming I was still living in England, sent a letter to my father's address. Which, I very nearly didn't get. I need a formal declaration letter and all that jazz from them, which I have to sign and send back. Of course, being as they are not sure I am in China, they told my grandmother to send the documents to me. Which she did and now everything is sorted. EXCEPT! You know why all this happened? 2.48 GBP overdrawn. 2.48 overdrawn. Does anyone else think this smacks of profiteering? 28 GBP is what, more than 10 times the overdrawn amount? Link to comment Share on other sites More sharing options...
LazyBoy Posted April 22, 2009 Share Posted April 22, 2009 Banks are evil, end of. When you getting married anyhow? Link to comment Share on other sites More sharing options...
jayseven Posted April 22, 2009 Share Posted April 22, 2009 I'm sure there have been a gazillion watchdog programmes about how 'illegal' it is for banks to charge such ridiculous amounts. Once, years back when I was in employment, a Greenpeace direct debit (of £5) made me overdrawn (by about teh same amount as you) and my bank charged me £20. The same happened the following month. I wrote them a fairly rubbish angry email saying that I hoped they'd use that extra £40 of mine for charitable causes, because there are simply no administrative costs that they incurred. On the one hand, unauthorised overdraft fines are harsh to stop even the slightest dent in their hefty accounts, but on the other, they shouldn't allow the unauthorised overdrafts (as in your case) to go ahead, when they know you don't want an overdraft and when THEY KNOW THAT THE TRANSACTION DOES NOT MATHEMATICALLY COMPUTE! ... But we've known banks are utter arseholes for centuries and we still abide by them. The amount of double standards they exhibit are ridiculous. Link to comment Share on other sites More sharing options...
Will Posted April 22, 2009 Share Posted April 22, 2009 The trouble is not all ATM's/Shops etc. marry up in real time and so can allow things like this to happen. It's a real pain and they're cocks for charging like this but there is a reason for unauthorised overdrafts to occur. Obviously this is a bit harder for you being the other side of the world but every time I've had this happen I've phoned them up told them I don't want to pay it and I'm very disappointed with them and they're removed the charges, may depend on how much they value you as a customer of course. A real pain in the arse when things like this happen. Link to comment Share on other sites More sharing options...
Raining_again Posted April 22, 2009 Share Posted April 22, 2009 (edited) I was 15p overdrawn once and got charged £30. >_< Its shameful really. Edited April 22, 2009 by Raining_again Link to comment Share on other sites More sharing options...
Jav_NE Posted April 22, 2009 Share Posted April 22, 2009 (edited) Its happened to me too. I was about £1 overdrawn. I went in to the bank though and spoke to the woman and she was nice enough to lift the fine. I guess being in China you couldnt do that, but i'd recommend it to others. Thing is, they'll only do it once if ever, as it happened to me again about a year later and they said i'd already had a fine wavered so they wouldn't do it again. Guess they put a note on your account or something the buggers. Edited April 22, 2009 by Jav_NE Link to comment Share on other sites More sharing options...
Ashley Posted April 22, 2009 Share Posted April 22, 2009 I had a similar situation wtih natwest many years ago. I went 11p overdrawn and they charged me £28 for it. Even worse is that it was at the end of January and I didn't notice until a few days into February and topped it back up but they then tried to charge me another £28 for being overdrawn in February too. I managed to talk my way out of that one but still bloody rediculous. What exactly do they need to prove you're in China? Official expat documents (if such things exist)? Maybe you should have rung them up and insisted they ring back and supply a Chinese phone number :p Glad its sorted though. Link to comment Share on other sites More sharing options...
Ramar Posted April 22, 2009 Share Posted April 22, 2009 When I went to upgrade my account to a student account I was either 50p or 98p overdrawn, they couldn't upgrade my account until I put some cash in. Quite pathetic these banks. Link to comment Share on other sites More sharing options...
Wesley Posted April 22, 2009 Share Posted April 22, 2009 I went about 48p into an overdraft and got charged £30. So I went in, kindly explained that I was closing all my accounts, leaving £30 in that one account and it was to be closed once the charge was taken out. And I'd take my soon-to-be-student-ass to another bank. They quickly cancelled the charge. Hurrah for empty threats! Link to comment Share on other sites More sharing options...
Mr_Odwin Posted April 22, 2009 Share Posted April 22, 2009 I was given a hefty fine once for going over my overdraft - I just called up and asked them to cancel the fine. They did. Give it a go, don't just lie down and take it when a simple phone call might make them cave. Link to comment Share on other sites More sharing options...
Jimbob Posted April 22, 2009 Share Posted April 22, 2009 I've never been overdrawn in my life so far, even though i have a £200 overdrawn limit on my account (don't know why that is there really, atm i'm never below £1,000 at any time really. Banks are harsh things, so in return be harsh back. They soon cancel the fine and sometimes if lucky, the overdrawn amount (only if it is under £1 i think). Happened to my Dad once, he went 40p overdrawn the day before payday and the bank charged him £30. Its like what jayseven said, what administrative work is required for us to be charged £30 each time we are overdrawn. Nothing really, except if you are in severe debt really. Link to comment Share on other sites More sharing options...
Iun Posted April 22, 2009 Author Share Posted April 22, 2009 I'm going to send them a letter requesting the money to be given back, I will then close the account. Shame, because this did not need to happen. Link to comment Share on other sites More sharing options...
EEVILMURRAY Posted April 22, 2009 Share Posted April 22, 2009 I have a £1500 overdraft limit I think, because of my pr0 former student status. Based on the monies I spent drinking yesterday I've probably gone up to about £250 overdrawn... *checks* The money from yesterday hasn't registered online yet, but I'm 166.58 overdrawn thus far. But when I get my pay on Friday I should be under £100. Link to comment Share on other sites More sharing options...
danny Posted April 22, 2009 Share Posted April 22, 2009 On balance though although this does seem harsh for the small ammounts overdrawn. But banks are a buisness andthere to make a profit. People are going to get a very big shock soon when banks will be charging you an ammount every month just to have a bank account. As free banking is no longer viable for them. Banks are usless when travelling abroad though. Being in the navy it is very fesable for me to visit up to 3 different countrys in a month. If you use your bank card like this they will cut it off. As they think it has been stolen. Do you knwo how hard it is to try and sort this out on the other side of the world whilst floating on a grey piece of metal. When you go in to a bank to try and stop this happening they say there is nothing they can do. Link to comment Share on other sites More sharing options...
weeyellowbloke Posted April 22, 2009 Share Posted April 22, 2009 I've got a £1500 overdraft limit as well due to bank generosity to students. I was severely worried I was going to get a charge this week for going over the limit, but today a cheque cleared for £1,300 so now I'm back to £-178. Link to comment Share on other sites More sharing options...
Wesley Posted April 22, 2009 Share Posted April 22, 2009 My overdraft was just changed to £700, annoyingly. Each year they change it from £100 to £700 odd pounds and I have to go in and change it back. Why would I need £700 pounds? It's stupid to be in an overdraft with that amount, if I were then it's obvious I'm living beyond my means. It's like Student Accounts, that have a £3000 overdraft. I don't have one, because it's pointless. Loads of my friends go into the overdraft fully, then just get half out of it with loan payments. Well it's pretty obvious what's going to happen year: final year, you're going to be stuck in it and trying to get out of it with money from a job. Maybe it'd be best if you just didn't get in it anyway, eh? Link to comment Share on other sites More sharing options...
weeyellowbloke Posted April 22, 2009 Share Posted April 22, 2009 My overdraft was just changed to £700, annoyingly. Each year they change it from £100 to £700 odd pounds and I have to go in and change it back. Why would I need £700 pounds? It's stupid to be in an overdraft with that amount, if I were then it's obvious I'm living beyond my means. It's like Student Accounts, that have a £3000 overdraft. I don't have one, because it's pointless. Loads of my friends go into the overdraft fully, then just get half out of it with loan payments. Well it's pretty obvious what's going to happen year: final year, you're going to be stuck in it and trying to get out of it with money from a job. Maybe it'd be best if you just didn't get in it anyway, eh? It's not quite that simple though. Any student who isn't in their overdraft at all undoubtedly has parents footing some of the bill. The student loans in most places barely covers rent on its own let alone living costs so the overdraft is a total lifesaver and makes up the short fall. But after 3 years you sink steadily further and further in. I took a year out to work and get out of it, but now after 7 months on a new course I'm way back in it again. The hope is that it'll be worth it in the end and after a couple months work I'll be out of it and able to start saving a bit. Link to comment Share on other sites More sharing options...
Raining_again Posted April 22, 2009 Share Posted April 22, 2009 I have a £50 overdraft. Just in case some bills come out towards the end of the month - and it means I wont get the stupid £30 charge. I always keep a reasonable eye on my money, but its nice to have that little margin. Link to comment Share on other sites More sharing options...
My Buttons are Magic! Posted April 22, 2009 Share Posted April 22, 2009 It's not quite that simple though. Any student who isn't in their overdraft at all undoubtedly has parents footing some of the bill. The student loans in most places barely covers rent on its own let alone living costs so the overdraft is a total lifesaver and makes up the short fall. But after 3 years you sink steadily further and further in. I took a year out to work and get out of it, but now after 7 months on a new course I'm way back in it again. The hope is that it'll be worth it in the end and after a couple months work I'll be out of it and able to start saving a bit. i dont have an overdraft =) while my dad pays my tuition fees i pay my rent, food, bills etc etc its just being careful with your money Link to comment Share on other sites More sharing options...
ReZourceman Posted April 22, 2009 Share Posted April 22, 2009 I love how they say its administrative costs. Such a joke. Banks are wankers FACT. Link to comment Share on other sites More sharing options...
Will Posted April 22, 2009 Share Posted April 22, 2009 I don't think student overdrafts are too bad, even if you're fully into them they're not massive once you start working. I think my total available overdrafts are about £3,000 currently. Don't use any of it but it's nice to have a buffer in case things need to be paid unexpectedly. Like anything debt related, as long as you use them correctly/sensibly they're no bad thing. Link to comment Share on other sites More sharing options...
Wesley Posted April 22, 2009 Share Posted April 22, 2009 It's not quite that simple though. Any student who isn't in their overdraft at all undoubtedly has parents footing some of the bill. Straight away wrong. I'm no where near my overdraft and I've not been given so much as a penny from my folks. I make sure when I move in somewhere that it doesn't cost more than what I have. Simple as that. Link to comment Share on other sites More sharing options...
Haden Posted April 22, 2009 Share Posted April 22, 2009 This happened to me after ebay fucked me over with costs a year ago. The worst thing was my overdraft was meant to be extended anyway. I was a quid over the old one and got fined 30 quid. I complained and filled a form out but it did no good Natwest just sent a letter back saying it was my fault. Really stupid. Link to comment Share on other sites More sharing options...
Pyxis Posted April 22, 2009 Share Posted April 22, 2009 (edited) There are no administrative costs at all becuase the process is entirely automated. The funny thing about banks is that they complain when you go overdrawn, when in reality, they dont really have a fraction of people's money that they are 'looking after' for them. This is why it is very easy to make a bank collapse if everybody goes to draw their money out at the same time. I have gone overdrawn with Barclays 3 times. Once was due to Microsoft ilegally billing me for Xbox Live when I didn't have a subscription with them and the other 2 times were due to the bank balance at ATMs displaying incorrect information. I could go overdrawn again today because I only had £8 left in my current account last night and I'm only getting paid tomorrow. Wouldn't be surprised if that £8 didnt exist....... I never got Microsoft to refund me my money because their Indian call centre is completely useless and is Microsoft's way of screwing over its customers if something goes wrong with their products and services. Edited April 22, 2009 by Pyxis Link to comment Share on other sites More sharing options...
Platty Posted April 22, 2009 Share Posted April 22, 2009 It's an absolute joke the overdraft fees. Can't believe they get away with it. How can they? My girlfriend went £5 over her limit once and they charged her £30. When they checked the £5 was for a registered charity she gives to every month. They reversed the charge and paid her back. Absolute joke. Link to comment Share on other sites More sharing options...
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