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Stuck in £1600 Overdraft in Student Account - Charges mounting and in hardship


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Hello!

I have a graduate account with Natwest.

 

My overdraft is £1600,

 

I know very silly of me but then it's offered to a student with no money it's very tempting!

 

After uni I was unemployed for a year, Natwest were pretty awful.

 

I have NO direct debits active on my account.

I've been charged £36 a go everytime I go past my unarranged overdraft (out of my job seekers money).

 

Thing is, I only take money out when it's says it's available on my online banking app.

 

It's pretty annoying to get charged when I take money out which is apparently available only to find out it's not.

 

2 months ago my balance was -£1588 so I withdrew £10 from a cash point and think no more of it.

 

I visited tesco earlier in the day and spent money, which apparently was pending and didnt come out until 2 days later, leaving my account as £1608.

 

Natwest charged me £96 for this as I had no way of paying back into my account to make it level again for a couple of weeks.

 

I've been unemployed since university but I've recently found employment which I start next week.

 

I've opened an account with barclays and plan to get my wages paid into that, then every payday pay a bit towards my natwest overdraft.

 

I'v sent a letter complaining about them charging me, and charging me when my account was already past the overdraft limit and received this reply.

 

Is this a good reply to them or is it worth me chasing it some more?

Is there anyway I could close the account and set up a payment plan with Natwest?

 

£2385.99 of charges in 9 years is pretty disgusting and even getting the £92 back would be great.

 

Letter in attachments, Thank you for your help

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you'll need to covert those files to PDF

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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you are indicating the charges were taken from benefit payments?

 

those are for you to LIVE ON.

 

and ofcourse I would assume your statements actually show your income coming from benefit payments

in the title of the payments from DWP.

 

so NW knew you were on them and still took penalty charges.

 

for those since nov 2009 you could try....

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?353395-Letter-to-send-if-you-are-being-charged-bank-fees-whilst-on-benefits

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Just posted a very similar thread myself...

 

 

Noticed in your letter the bank state 'there is no other legal challenge'...

 

Two things for you to think on:

 

The first is BCOBS

 

The second is the new FCA investigation:

 

http://www.consumeractiongroup.c o.uk/forum/showthread.php?422802-What-the-FCA’s-latest-investigation-means-for-free-banking(1-Viewing)-nbsp

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Contact the Financial Difficulties Team as you were advised to in their letter.

Assumedly, they are team who will actually be able analyse your financial situation and see what can be done if your are in financial hardship at the moment.

 

Congratulations on your new job by the way :-)

 

you are indicating the charges were taken from benefit payments?

 

those are for you to LIVE ON.

 

and ofcourse I would assume your statements actually show your income coming from benefit payments

in the title of the payments from DWP.

 

so NW knew you were on them and still took penalty charges.

 

for those since nov 2009 you could try....

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?353395-Letter-to-send-if-you-are-being-charged-bank-fees-whilst-on-benefits

 

Benefits are to pay for your expenses. Bank charges are an expense. I believe the government (the people actually paying the benefits) have also confirmed this.

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  • 3 weeks later...

inalienable benefits?

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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