There Reducing my overdraft at Christmas

[osborn99]

By £300. I think its really unfair. Spent 30 mins on the phone, asking the reason why do it at Christmas and the reason for reducing the overdraft. She Did'nt know and she couldent find out for me cause no-one can contact the underminers. She also said I could appeal at a branch but likely not to be successful.

 

Is it there right not to tell me. Any advice what I can do now.

[zootscoot]

Hi Osborne,

 

In Abbey T & Cs they simply state they will try to give you 28 days notice before withdrawing any overdraft facility. There is no positive obligation on them to in fact do so.

 

If they have reduced it in response to you making a claim this may be retaliatory action which would breach the waiver conditions.

 

If they reduction is causing you hardship it may be worth making a complaint to the Financial Ombudsman, however the procedure takes 8 weeks so will not be in time for christmas.

 

Its worth pursuing the matter with the bank and explaining that it will cause hardship to reduce the overdraft at this time and possibly come to an arrangement whereby you could reduce it by a reasonable amount each month.

 

All the best

 

Zoot

[osborn99]

Thanks for the reply, I'm already on a debt management plan so I can just open a new account with another bank, ring the abbey debt management team and say the DMP said I should pay £12 a month which they did. So I don't lose out anyway.