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Current Account and Default Notice

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Is there a definitive answer on this? Do banks need to issue a default notice for overdrafts before they can terminate them?


I wrote to the bank to argue that they had unlawfully terminated my current account because they had not issued a default notice as (I thought) was required by S87(1) of the CCA. Their reply is as follows:


"The Termination Notice was issued correctly under Sections 76(1) and 98 (1) of the CCA. Please note section 97 (1) relates only to loan accounts."


I accepted that overdrafts are exempt from Part V, but (using arguments from this forum) said that an overdraft IS a regaulated agreemnt within the meaning of section 10 (1) (a).


Where do I go from here?

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