Thread: Closing Accounts

Hi... just begun the process with an SAR request letter to A&L. Not sure but I'm estimating I've been charged around £300 in bank charges. My concern is that I've read on here about the bank forced closing of accounts upon settlement.

Unfortunately as I have a rather fragile financial standing at present (partially due to A & L's charges, partly due to my own ineptitude with money!), I am not in a position to be able to repay the £750 overdraft on my account at present.

My worry is that, whilst I don't want to let A & L get away with these charges, if I proceed with the action, I may be left with a closed account with an immediate demand for the £450 remaining overdraft that I'm unable to clear.

What would you guys suggest?

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thanks nackers... another Brightonian I see! Yeah definately going to proceed. Its the principle as much as the money, I can't believe how they impose these penalty charges continously for the smallest trangressions. Had a letter just yesterday - Inadequate funds to cover a £26 DD so they charge me £25 for 'authorising' the payment and a further £25 for exceeding agreed overdraft!! So its cost me £76 to pay a £26 bill as well as other payments that will probably be declined due to being over the limit as a result of their penalties. Makes my blood boil thinking about it!!

My partner is currently pursuing them for charges to our joint account and that was more than twice our estimate, so I'm sure you could be right when you say that it could me more than I think

Hi SamandLaura.

Firstly, don't get ahead of yourself, wait until you get your data request through.

How far back do your charges go, have you had the account for more than the allowed 6 years for a claim?

Because if you don't have such a time restraint on you, I'd suggest it's possible for you to hold off for a while, give yourself time to get your finances sorted out first, then claim.

What would you think of that idea?

Hi

An interesting post. In a situation - take note - where overdraft called in as I was disputing charges. Without any notice or time to reply to original department re complaint or to Financial Ombudsman (56 day time period given) as stated in letters to sort problem, all of my accounts have been frozen and being forced to either repay by a due date or money transferred from other accounts - by a different department. I really have been left high and dry. No access to any accounts unless I am forced to use other accounts to pay off overdraft - pay up or else is the attitude. They are not interested in my circumstances and forget loyalty! Loyalty to customers does not exist!

In theory I do have time i.e. I have only held the A & L for about 2 years, so I could wait a while to repay the overdraft.

However the obvious problem is the viscious cycle I am now in of A & L continually charging me for failed payment and overdraft excesses. These charges make it more and more difficult to make any headway in reducing the overdraft!

Thanks for the replies so far guys. Any other ideas?