Natwest OD - Can a CCA request be applied to an overdraft?

[fedup74]

Just to put the cat amongst the pigeons!! :rolleyes:I thought an overdraft wasn't covered by a CCA request and got slated as I am just a "notivate poster". Someone asked this question in another thread. I said as far as I am aware an overdraft is not covered by a CCA request and suggested to the OP to send off a SAR to find out what charges had been applied. As I say I was slated cos I don't have green blobs at the end of my name!! Here is what was said on the other thread. I have left out the bit were I was slated for obvious reasons:mad:

 

Originally posted by pinky69

"Section 74 (1) (b) of the CCA 1974 exludes overdrafts from being regarded as credit agreements. This is because only one side "agrees" - the bank - and the conditions and terms are imposed on you. Nevertheless, they must be able to prove they sent you a copy of the overdraft limit and interest rate. This can be easily done as they can draw one up at any time and say it was sent to you. The only thing that can be done with overdrafts is to Subject Access Request the original creditor and claim back any excessive charges"

 

Originally posted by rory32

"While overdrafts have part V exemption from the Act (form and content) they are not exempt from the Act and a copy of the agreement still needs to be sent. A more savvy DCA will pick up on the fact that the copy of the agreement would only be a letter from the bank and your CCA request won't bother them in the least (as the overdraft doesn't really fall under s78 ). A less savvy DCA may however just return the account to the creditor. So for the sake of a quid and getting RW out of your life it's probably worth a try"

 

 

 

Originally posted by Peter Bard

 

"Overdrafts are normally not subject to those elements of the Act governing form and content of an agreement. This is because the OFT has issued a Determination under Section 74(3) of the Act excluding overdraft agreements from the need to comply. As a result of this there is usually no written agreement that a consumer can request under Section 78 of the Act. However, I should note that any Bank wishing to avail itself of the benefit of the Determination must notify the OFT of its intention to do so and is required to provide information to the prospective debtor. Specifically, the creditor must provide, in writing, at the time the agreement is concluded or before details of the credit limit if any, the annual rate of interest and any charges available, and the process for terminating the agreement. Typically banks make such information readily available via a variety of media on an ongoing basis.

I went through all this with my sons student account,.Bank accounts of course are not covered by the cca as they are regulated by the FSA and there fore do not have to produce documents asked for under that act with the above acception because the overdraft is unfortunately due to it's exception from part 5 their is no agreement as such so none can be provided .

In the end i just sent them a letter as advised by the FOS saying that i was willing to go to court over the amount of interest they had charged and they would have to provide the orriginal agreement whether it was covered by the cca or not. I recieved a letter a week or so later saying that they had decided it was not in their interests because of the costs involved to pursue this any further and that was that"

I hope this can be of use to you as Fox, I wouldn't want you to feel the way I did if that particular person seen your reply. Just looking out for you:) Good luck

[fedup74]

Aww thanks fox and rory, I now have 2 green blobs:D I wasn't being funny here fox, I know the whole idea of this forum is to learn as you go along and there is always someone with more experience who will advise. As I said, I have read on a number of occasions that the CCA does not cover an overdraft. I just didn't want you to feel the way I felt when another member makes you feel belittled and worthless when you try and help people. I actually stayed off the site for a few days and wouldn't give help or advice as I felt stupid. All of the information above is ripped off that thread too:D So thank you soo much for my tickles:D

[fedup74]

Sorry fox I was not disrespecting you in any way shape or form. As I said in the first post "I was looking out for you". I agreed with you that the overdraft was not covered by the CCA as far as I (and you) was aware, I was just pointing out the replies that were posted on another thread to try and help Taz. If you have taken offence, believe me none was meant in the slightest, and I am sorry if you feel this way but I was only trying to help so please accept my apology if it has come across the wrong way. As you said it is hard to show emotions this way but I really was looking out for you:)

Sorry taz for another hijack:)