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Scooping money from current account to pay credit card


itsalongwayback
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i had same problem with HSBC and a M&S card, i got offered a bank account with Santander but despite sending them prof of my overdraft with HSBC they would not match it, so i'm chanceing it with HSBC atm for a while will i can get a bank to match my overdraft as i do use it a bit

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If you are using your overdraft then you would have no money for them to dip into unless your wages bring you back into credit, you would need a second account to protect your wages or in goings,So starting a fresh you would not require a overdraft, I started a fresh after lloyds were taking 500 pounds of my wages each month santander gave me 1000 pound overdraft that I have never used.

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You must use another account they will take money without warning then you will be in worse trouble, if they take money out of your overdraft once your up to your limit all money payed in will be swollowed up.

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According to the Banking Code of Practice, banks should not be able to garnish accounts with debit balances, nor should they "wipe out" your credit balance without first taking into account your day-to-day living expenses, priority debts and priority arrears but, of course, they DO!!

 

In my case LloydsTSB garnished my current account to cover reduced payments on my loan account with them on receipt of my monthly salary without prior notiification. They took x amount leaving me with £50 to survive on for the rest of the month. I immediately complained by telephone and in writing. LloydsTSB subsequently credited my bank account with x - £125 (being my reduced monthly loan repayment). THEN, unbelievably, garnished the account again on the very same day leaving just £30 in my account. I eventually received a written apology and a refund of £60 in respect of bank charges but it was incredibly frightening! They had garnished just over £2000 in 3 days from an account with a £1,200 balance! The prospect of not being able to pay that month's rent, honour all my household direct debits and not having enough money for food or petrol to get to work scared me rigid.

 

Needless to say, I stopped paying my loan full stop and now have my salary paid into a parachute account. I am still in dispute with LloydsTSB.

 

Not the treatment I expected after banking with them for more than 30 years.

 

Impecunious!

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According to the Banking Code of Practice, banks should not be able to garnish accounts with debit balances, nor should they "wipe out" your credit balance without first taking into account your day-to-day living expenses, priority debts and priority arrears but, of course, they DO!!

 

In my case LloydsTSB garnished my current account to cover reduced payments on my loan account with them on receipt of my monthly salary without prior notiification. They took x amount leaving me with £50 to survive on for the rest of the month. I immediately complained by telephone and in writing. LloydsTSB subsequently credited my bank account with x - £125 (being my reduced monthly loan repayment). THEN, unbelievably, garnished the account again on the very same day leaving just £30 in my account. I eventually received a written apology and a refund of £60 in respect of bank charges but it was incredibly frightening! They had garnished just over £2000 in 3 days from an account with a £1,200 balance! The prospect of not being able to pay that month's rent, honour all my household direct debits and not having enough money for food or petrol to get to work scared me rigid.

 

Needless to say, I stopped paying my loan full stop and now have my salary paid into a parachute account. I am still in dispute with LloydsTSB.

 

Not the treatment I expected after banking with them for more than 30 years.

 

Impecunious!

 

Absolutely, and as bad as your story is, i have read many worse than that on here...so to all in this predicament, open a parachute account with a bank totally unconnected with any debt you may have, (research this last point on the net, you will be surprised which banks are connected to various credit cards for instance!)

Please note i have no legal training any advice i give comes from my own experience and from what i have learned on this site

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