I went overdrawn today...
I went overdrawn today...
Author
Discussion

Diablos-666

Original Poster:

2,786 posts

194 months

Tuesday 30th August 2011
quotequote all
... 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

jenpot

472 posts

203 months

Tuesday 30th August 2011
quotequote all
If it's only a one off, it won't matter. Everyone makes a mistake now and then.

Diablos-666

Original Poster:

2,786 posts

194 months

Tuesday 30th August 2011
quotequote all
Yeah, it was my first time. Was an overdrawn virgin before today, I feel dirty now.


condor

8,837 posts

264 months

Tuesday 30th August 2011
quotequote all
I think you'll still get charged though.
Good idea to always have a reasonable cushion to protect against such things.

Rude-boy

22,227 posts

249 months

Tuesday 30th August 2011
quotequote all
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 hehe


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...

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 biggrin

prand

6,216 posts

212 months

Tuesday 30th August 2011
quotequote all
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.

Deva Link

26,934 posts

261 months

Tuesday 30th August 2011
quotequote all
Diablos-666 said:
... by £4

I was expecting to be paid today, and wasn't expecting money to come out. End result, £4 overdrawn.
Do you still expect to be paid today - or did you get it wrong and think today was the last day of the month?

Diablos-666

Original Poster:

2,786 posts

194 months

Tuesday 30th August 2011
quotequote all
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. frown

Deva Link

26,934 posts

261 months

Tuesday 30th August 2011
quotequote all
Diablos-666 said:
Was overdrawn for litterally 4hours or so. frown
Some banks don't charge if it's corrected same day. You may find your salary appears later in the day too.

Diablos-666

Original Poster:

2,786 posts

194 months

Tuesday 30th August 2011
quotequote all
Deva Link said:
Some banks don't charge if it's corrected same day. You may find your salary appears later in the day too.
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.


prand

6,216 posts

212 months

Tuesday 30th August 2011
quotequote all
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!


Diablos-666

Original Poster:

2,786 posts

194 months

Tuesday 30th August 2011
quotequote all
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.

prand

6,216 posts

212 months

Tuesday 30th August 2011
quotequote all
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 really

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.

Countdown

44,965 posts

212 months

Tuesday 30th August 2011
quotequote all
OP

It's happened to me a couple of times (and I'm an Accountant paperbag). 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 rage

Diablos-666

Original Poster:

2,786 posts

194 months

Tuesday 30th August 2011
quotequote all
I'm a Quantity Surveyor, so just as bad.

If I do get charged then I'll get straight on the phone to them.


Corsair7

20,911 posts

263 months

Tuesday 30th August 2011
quotequote all
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....

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.

andye30m3

3,493 posts

270 months

Tuesday 30th August 2011
quotequote all
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.

Edited by andye30m3 on Tuesday 30th August 20:48

The Nur

9,168 posts

201 months

Tuesday 30th August 2011
quotequote all
You probably have a £5 courtesy overdraft before charges kick in.

I'm a student. I know these things.

CobolMan

1,422 posts

223 months

Tuesday 30th August 2011
quotequote all
If they're anything like the mob I'm with then, as long as you're in credit at the end of the day, then you'll be fine.

Diablos-666

Original Poster:

2,786 posts

194 months

Tuesday 30th August 2011
quotequote all
I'm with nationwide, what are they like?

When should I expect to see a charge?