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Student Account Default


pornaco
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Hi Everyone

 

Decided not to put this in the student section as you guys seem to have the Natwest knowledge!

 

A few years ago when I was an undergraduate, I had a Natwest student account with a £1500 interest free overdraft.

 

In the middle of my degree I took a year out in which I didn't use my account at all. After about 9 months I received a call asking me why the account wasn't in use and I explained the situation. The lady said no problem, just pay a tenner in and take it out again so that the account registers some activity.

 

Me being a lazy student didn't bother because a) i was lazy, and b) the woman didn't say anything drastic would happen if i ignored it. A month later I received a call from a debt recovery firm (I assume it was an inhouse Natwest branch) asking me how I was paying my overdraft back. It was only a week later they bothered sending me a letter telling me what had happened and that my account had been defaulted.

 

I paid the interest free overdraft back in installments, paying interest and a default charge.

 

This hadn't even crossed my mind until I read some of the stories on here today and realised that maybe Natwest had no right to do this.

 

Has anyone had any similar experiences with student accounts? Would be interesting to find out if they often default accounts over underuse without any warning of the consequences!

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