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Nationwide Overdraft Withdrawl

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Hello

 

I received a letter today from Nationwide telling me they are no longer able to offer me an overdraft. To be honest I've half been expecting this for a while as I have been at the max for quite some time and have just been putting in enough money to cover the fees for the account.

 

What is the best step to take as I cannot afford to pay the full £3200 in the next 27 days as they are requesting. They have put in the letter I can call to talk about my options.

 

Thanks

 

DC

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Well open a parachute account with another bank and move salary etc over there.

Also talk to them as they may beable to do a monthly decreasing limit. They will decrease by say £50 a month until @ 0


 

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Its been around 18 months since I've used the account, it's just been being maintained at the max of O/D since then

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Do you pay any income diectly to them?


..

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No, the only transactions on the account for quite some time have be the packaged bank account fee and the arranged overdraft fee. I have then been transferring from another account the sum of these fees.

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So you are paying them off?

You do know PA fees can be reclaimed?


..

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Currently PA fee is £13 and OD fees are 15.50 per month. I transfer 28.50 into nationwide to cover these fees. No actual repayment is being made on the rest of the balance.

 

I was thinking about trying to reclaim the fees but i cannot remember the circumstances of taking out the PA and i have used the features.

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God how long have you been doing this?

 

Stop paying

Send them a free sar get the info you need

Why did they say you had to have PAF?

 

How old is this a/c?


..

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Too long DX,

 

I'll get the SAR ready and sent. The account was opened with nationwide in 2011, I took the PA with the overdraft which was around Feb 2014. I stopped using the account 18 months ago and have been paying the 28.50 since

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Have you asked if Nationwide to change you to the flexdirect account?

If you have money to pay it back then they it could allow you to repay minus fees for 12 months and prevent a default if you cant pay - Itll protect your credit file.


 

We could do with some help from you.

 

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

**Fko-Filee**

Receptaculum Ignis

 

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Last week I tried to downgrade to the normal Flex account online so I could save on the fees, but was told I was ineligible

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You might not save anything to be honest downgrading the account...

Which is why Flexdirect might be an option for 12 months


 

We could do with some help from you.

 

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

**Fko-Filee**

Receptaculum Ignis

 

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Sorry the Flexdirect is what I tried to change to but was ineligible

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I spoke with the Nationwide collections department today, they want me to complete an income and expenditure form so a payment plan can be set up, they will not freeze the interest or remove the fees unless i change accounts. If i did the interest would be double what I am paying now.

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