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Formal Overdraft


vimto1
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I have a joint account with my x and is still overdrawn,. Now my query is that out formal OD is £500, yet they let our account go over to £1600. Now can this be challenged as we only signed for a £500 one?

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I'm afraid not, the £500 limit was set by the bank because they thought that a sensible limit to set. The fact that you have spent more than this and the bank have allowed it only means you will be getting charged more for the privilege :rolleyes:

 

pete

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Sorry I didn't really explain that well lol... it makes me sound like a freeloader. Basically after my split with my ex I cancelled all my DDs from the account, but ex didn't cancel his. Just wanted to put this so no one thinks I am trying to get money I don't deserve lol

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