Assistance with a complaint

[bankingsucks]

Someone please help me! I recently worked on a camp in America, and was paid in US Dollars, with a cheque. I have since banked the cheque, after being informed by the lady at my branch that the cheque would take two weeks to clear. Currently, my account (my only active bank account) is overdrawn to its overdraft limit.

 

I deposited the cheque 3 weeks ago, and the money still has not cleared. I called up today (on their ludicrously expensive contact number I might add) to ask why the cheque hadn't cleared. After twelve minutes of discussion the woman on the phone informed me that because the cheque is for a large amount of money, it could take 6-8 weeks to clear. Aside from knowing that I am now going to be charged a large amount of interest on the overdraft, I have no funds and the woman on the phone told me there is nothing they can do to help.

 

What can I do about it?

 

Thanks for the help!

[indebtstudent]

Very little, the process for clearing cheques in another country is terrible and can be lengthy. I am sure it says on the form the timescale and that they have no control over it.

 

In the short term I'd say the best you can do is obtain some money from a friend or relative to minimize the charges incurred.

 

You can complain about and dispute any charges but this is NOT going to help in the short term since all cases are on hold until the test case is finished (which will probably lead to another case if the OFT wins). Anybody have any better ideas?

[bankingsucks]

Well Nationwide have now charged me £30 plus interest - the interest took my overdraft over its limit because they told me a cheque would take 2-3 weeks to clear and now it will apparently take 6-8 weeks. Surely something can be done?

[indebtstudent]

"Surely something can be done?"

 

I don't think there is.

 

You can complain but with the Waiver I don't hold out much hope I am afraid. Damage limitation is there not a friend or relative you could borrow money from to tide you over?

[yourbank]

Well Nationwide have now charged me £30 plus interest - the interest took my overdraft over its limit because they told me a cheque would take 2-3 weeks to clear and now it will apparently take 6-8 weeks. Surely something can be done?

 

I think you can ask them to waive the charge on the basis that you were told 2-3 weeks and that the charge happened after that time was up and the information was incorrect. You could argue that you would have paid more money in or borrowed it had you known the correct timescale.