I went overdrawn today...
Discussion
... by £4
I was expecting to be paid today, and wasn't expecting money to come out. End result, £4 overdrawn.
I put money in my account now but will I get charged and will it affect my credit rating?
Am slightly worried as I'm looking to get my 1st mortgage in the next couple of months.
Thanks
I was expecting to be paid today, and wasn't expecting money to come out. End result, £4 overdrawn.
I put money in my account now but will I get charged and will it affect my credit rating?
Am slightly worried as I'm looking to get my 1st mortgage in the next couple of months.
Thanks
If it is a one off or once in a blue moon thing IIRC it is not really a problem. Heck they have made some money out of you for once, they should damn well be grateful 
With bank accounts I always try to have at least a £500 float to save issues like this and emergencies. If you can afford to do the same I would recommend it and view it as your personal overdraft that the banks can't charge you for if you ever have to use

condor said:
I think you'll still get charged though.
Good idea to always have a reasonable cushion to protect against such things.
You are likely to get the charge I am afraid. I missed a cc payment a few years ago because almost every month my payment date is no earlier than the 5th but for some reason it was the 1st that time and it wasn't until the 2nd I looked at the statement...Good idea to always have a reasonable cushion to protect against such things.
With bank accounts I always try to have at least a £500 float to save issues like this and emergencies. If you can afford to do the same I would recommend it and view it as your personal overdraft that the banks can't charge you for if you ever have to use

Well done for keeping so clean! (not sure how long you have had a bank account, but it's a good attitude I haven't always had!)
Unless you can't trust yourself at all, it's worth keeping an authorised overdraft. It means you can pop into the red without penalty (you do pay interest though), and it can be useful to use as a short term loan facility.
What I would do now is call the bank up immediately and apologise - explain about the delay in payment. In my experience the bank appreciates the call and cancels/refunds charges.
Unless you can't trust yourself at all, it's worth keeping an authorised overdraft. It means you can pop into the red without penalty (you do pay interest though), and it can be useful to use as a short term loan facility.
What I would do now is call the bank up immediately and apologise - explain about the delay in payment. In my experience the bank appreciates the call and cancels/refunds charges.
I normally do keep a buffer, around £100 or so but this month I've had to spend a bit more than usual.
I have plenty in savings but don't like to transfer it. If I can't see it then I dont spend it.
I normally get paid a few days before the end of the month (normally the 28th)
So was expecting to get paid last Friday (before the bank holiday). That didn't happen and was sure i'd get paid today.
I've had this account probably about 10 years or so and it's the first time I've gone over.
Thanks for the feedback, glad it shouldn't affect my credit history, bit gutted i will still get charged though.
Was overdrawn for litterally 4hours or so.
I have plenty in savings but don't like to transfer it. If I can't see it then I dont spend it.
I normally get paid a few days before the end of the month (normally the 28th)
So was expecting to get paid last Friday (before the bank holiday). That didn't happen and was sure i'd get paid today.
I've had this account probably about 10 years or so and it's the first time I've gone over.
Thanks for the feedback, glad it shouldn't affect my credit history, bit gutted i will still get charged though.
Was overdrawn for litterally 4hours or so.

Diablos-666 said:
Just checked and I've now been paid. If I hadn't of checked it first thing I wouldn't have known that I was overdrawn.
I hope the building society are kind.
I was also going to say that if you're getting this upset over being £4 overdrawn, you just aren't trying hard enough!I hope the building society are kind.
prand said:
I was also going to say that if you're getting this upset over being £4 overdrawn, you just aren't trying hard enough!
I just hate getting charged for things. I don't even use those link machines as they charge me £1.75 to get my own money out. Plus I'm saving quite hard at the moment for my first property so money is tight.
Diablos-666 said:
I just hate getting charged for things. I don't even use those link machines as they charge me £1.75 to get my own money out.
Plus I'm saving quite hard at the moment for my first property so money is tight.
Only joking reallyPlus I'm saving quite hard at the moment for my first property so money is tight.
Like I said before - I hope you call the bank ASAP and explain your problem and I'm sure they'll look upon this favourably.
OP
It's happened to me a couple of times (and I'm an Accountant
). On my personal account a quick phone call to First Direct was all it took to get the £35 charge waived.
On the company account (HSBC) it took 3 letters ( each increasing in stroppiness) before they agreed to waive the charges. It's particularly annoying when there is £500k in a savings account paying 0.56% interest and the first time we havd ever been overdrawn
It's happened to me a couple of times (and I'm an Accountant

On the company account (HSBC) it took 3 letters ( each increasing in stroppiness) before they agreed to waive the charges. It's particularly annoying when there is £500k in a savings account paying 0.56% interest and the first time we havd ever been overdrawn

Diablos-666 said:
I'm a Quantity Surveyor, so just as bad.
If I do get charged then I'll get straight on the phone to them.
Re your credit rating....If I do get charged then I'll get straight on the phone to them.
Do you realise that the only way of actually building up a good credit rating is by borrowing and then prooving you're credit worthiness by then paying back? If you never borrow, you are likely to have a poor credit rating, as you've never prooved that you are a reliable repayer.
And no, going over or into your overdraft limit will not reflect badly on your credit rating.
I got charged for going a couple of pounds overdrawn by alliance and leicester (is it naming and shaming if they've gone?) what took the piss was I had a cheque clearing on the same day.
Phoned up and they refused to refund and then sounded shocked that I closed the account there and then,
HSBC have in the passed given me a call to say i'd gone overdrawn so that I could transfer some cash across from my other account, much better customer service.
Phoned up and they refused to refund and then sounded shocked that I closed the account there and then,
HSBC have in the passed given me a call to say i'd gone overdrawn so that I could transfer some cash across from my other account, much better customer service.
Edited by andye30m3 on Tuesday 30th August 20:48
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