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I have a negative bank balance. watch

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    -£0.83 Will the bank do anything?
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    (Original post by Snapchat HELP!)
    -£0.83 Will the bank do anything?
    Yes 650% interest on every day you don't pay back. Do you know that the bank cannot function without somebody owing £0.83 to them?
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    I could send you the money to get into a positive balance, but what would I get?
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    (Original post by Snapchat HELP!)
    -£0.83 Will the bank do anything?
    I believe it depends if you have an overdraft limit setup.
    If you do, it shouldn't be a problem but it will most likely build up interest on the amount you have to pay back, so I'd pay it off ASAP.

    If you don't, banks tend to charge you a daily fee.
    For example, I'm with Halifax and if I go into my overdraft, then for every day I don't pay it back, I am charged £5 (I think it limits it to £30 per month though), other banks will differ on fees charged.

    Seriously, though. Pay it in ASAP. It's £0.83 which is a drop in the ocean compared to what you could have to pay back if you were to let it accumulate.

    I believe It will also affect your credit score so in the future it may make it harder for you to get approval for loans or a credit card.
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    what does the terms of your account say about an unplanned overdraft?
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    (Original post by Glassapple)
    I could send you the money to get into a positive balance, but what would I get?
    Always looking for sexual favours :rofl:
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    (Original post by Sadanon12)
    Always looking for sexual favours :rofl:
    It's my hobby
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    (Original post by JaredzzC)
    I believe it depends if you have an overdraft limit setup.
    If you do, it shouldn't be a problem but it will most likely build up interest on the amount you have to pay back, so I'd pay it off ASAP.

    If you don't, banks tend to charge you a daily fee.
    For example, I'm with Halifax and if I go into my overdraft, then for every day I don't pay it back, I am charged £5 (I think it limits it to £30 per month though), other banks will differ on fees charged.

    Seriously, though. Pay it in ASAP. It's £0.83 which is a drop in the ocean compared to what you could have to pay back if you were to let it accumulate.

    I believe It will also affect your credit score so in the future it may make it harder for you to get approval for loans or a credit card.
    Damn. I better put my notes in.
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    (Original post by Snapchat HELP!)
    -£0.83 Will the bank do anything?
    It depends. Claire stated it correctly i.e look up what the bank says it does on o/ds.
    If you are an undergrad, then you will most likely have an o/d in place free from charges.

    If not and its a normal current account then many banks have a safety net of about £10 where they dont charge if you go o//d within that.

    If no o//d or safety net then you can be charged at theri dsicretion. they will say what the charges are on their website. considering its inly 83p, then the charge may be a daily rate or a one off ranging from £10-40.

    Put some funds in and hope they dont bother. Charges are often sent out automatically.
 
 
 

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