nationwide overdraft

today i woke up to a text from nationwide saying i've gone over my overdraft of £0, except i have an overdraft of £1000. i go to check it on the banking app and my overdraft is fully like gone, like it's completely disappeared. i got a student account and i got the max overdraft i could because my family's financial situation is bit shaky, so to speak.
i'm going to try and go to a physical bank today and ask for proper help but like? surely they have to give notice if they're just going to take it away?? tbf i've been really deep into it for the last couple of months (like always around the 800/900-ish mark) but i got a summer job so i thought i'd be fine by september again and i didn't think it would fully vanish. now i'm just fully in debt with no warning.
if anyone has had similar issues and/or resolved it i would love to know. thanks

(edited 10 months ago)

Reply 1

martin7

20

Original post by lilyb1705

today i woke up to a text from nationwide saying i've gone over my overdraft of £0, except i have an overdraft of £1000. i go to check it on the banking app and my overdraft is fully like gone, like it's completely disappeared. i got a student account and i got the max overdraft i could because my family's financial situation is bit shaky, so to speak.
i'm going to try and go to a physical bank today and ask for proper help but like? surely they have to give notice if they're just going to take it away?? tbf i've been really deep into it for the last couple of months (like always around the 800/900-ish mark) but i got a summer job so i thought i'd be fine by september again and i didn't think it would fully vanish. now i'm just fully in debt with no warning.
if anyone has had similar issues and/or resolved it i would love to know. thanks

Overdraft facilities can be withdrawn, and are (pretty much always) described as "repayable on demand".

A bank may well not warn you in advance that it's going to remove or reduce your overdraft facility as there's a risk that you might immediately borrow up to the limit before it gets removed. But I'd expect them to write to you very soon afterwards to notify you of what has happened -- not least as you'll need to repay the money.

I imagine it's fairly unusual for an overdraft facility to be withdrawn like this. Were you operating the account in line with the terms and conditions? Were you paying in at least £500 per term? Were you using this as your main account?

Reply 2

lilyb1705

OP

3

Original post by martin7

Were you operating the account in line with the terms and conditions? Were you paying in at least £500 per term? Were you using this as your main account?

my student loans paid into this account so that’s the £500 minimum and it is my main account. i admit that i was a bit… ‘loose’ with my spending and my current maintenance doesn’t cover my rent so i have spent quite a while in overdraft but i’m sure i’ve not done anything out of line of the terms and conditions. i think it might’ve been because i’ve been in overdraft so deep for so long but i’ll see what they say when i go to the bank in a bit.

(edited 10 months ago)

Reply 3

lilyb1705

OP

3

well i went to the bank and even the banker was proper confused and he was like saying that it’s really weird and he’s never seen anything like this but he gave me the office number to call.
anyways i deposited money whilst i was there and when i checked the nationwide app to make sure it went through i thought i might as well try applying for overdraft again even though it denied me again. so i applied for overdraft again and it actually approved it this time so it’s back now. panicked over nothing 😭😭😭

nationwide overdraft

Quick Reply

Related discussions

Latest

Trending

Trending

Articles for you