Omega Owners Forum
Chat Area => General Discussion Area => Topic started by: moggy on 23 January 2016, 10:20:07
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Hi all,should i be worried about the bank reducing my overdraft.Its gone down by a lot from £2000 to £1400,i do use it.But not to the limit so why change it.Regards Dean.
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If you did regularly use it to the limit they would probably offer to increase it.....
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If you did regularly use it to the limit they would probably offer to increase it.....
All depends on the health of Moggys finances Andy.
If they think he may be in the shite, they will try and reduce any potential future loss by reducing it while he has funds coming in :)
Moggy, might be worth a quick chat with the bank manager mate :)
Basically ask if they can reduce it to 1800 for 3 months then down to 1600 or even 1500 after that.
It will show that your planning to sort out any financial opps ups yourself :)
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If you did regularly use it to the limit they would probably offer to increase it.....
All depends on the health of Moggys finances Andy.
If they think he may be in the shite, they will try and reduce and potential future loss by reducing it while he has funds coming in :)
Moggy, might be worth a quick chat with the bank manager mate :)
Basically ask if they can reduce it to 1800 for 3 months then down to 1600 or even 1500 after that.
It will show that your planning to sort out any financial opps ups yourself :)
Hi mate,the thing is the most it has ever been is 700,but i do have less money coming in now compered to last year.With a change of job and hourly rate i am always in the red,so may be that's why they have changed it.But i worry they may withdraw it and i would be in the shit.Dean.
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When I was working, I had a £3000 overdraft, but, as I rarely ever reached that limit, HSBC, reduced mine to £1500 :y
Just shows you are not having major problems. And as has been said......when I reached the £1500 limit, they offered to increase the overdraft by £500.
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If you did regularly use it to the limit they would probably offer to increase it.....
All depends on the health of Moggys finances Andy.
If they think he may be in the shite, they will try and reduce any potential future loss by reducing it while he has funds coming in :)
Moggy, might be worth a quick chat with the bank manager mate :)
Basically ask if they can reduce it to 1800 for 3 months then down to 1600 or even 1500 after that.
It will show that your planning to sort out any financial opps ups yourself :)
In the olds days this would have been easy to arrange.
Not so now. :-\
I have no idea if my bank manager even exists.
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If you did regularly use it to the limit they would probably offer to increase it.....
All depends on the health of Moggys finances Andy.
If they think he may be in the shite, they will try and reduce any potential future loss by reducing it while he has funds coming in :)
Moggy, might be worth a quick chat with the bank manager mate :)
Basically ask if they can reduce it to 1800 for 3 months then down to 1600 or even 1500 after that.
It will show that your planning to sort out any financial opps ups yourself :)
In the olds days this would have been easy to arrange.
Not so now. :-\
I have no idea if my bank manager even exists.
Hi Opti,you are right.Just phoned the bank and the firt thing they asked is,is it important.Dean.
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If you did regularly use it to the limit they would probably offer to increase it.....
All depends on the health of Moggys finances Andy.
If they think he may be in the shite, they will try and reduce any potential future loss by reducing it while he has funds coming in :)
Moggy, might be worth a quick chat with the bank manager mate :)
Basically ask if they can reduce it to 1800 for 3 months then down to 1600 or even 1500 after that.
It will show that your planning to sort out any financial opps ups yourself :)
In the olds days this would have been easy to arrange.
Not so now. :-\
I have no idea if my bank manager even exists.
Hi Opti,you are right.Just phoned the bank and the firt thing they asked is,is it important.Dean.
My bank does not have a direct line.
Customers need to ring a 'call centre' who will take your message and then ask somebody from the bank to call you back within five working days.
Wonderful customer service. :(
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Our overdraft has been at £5000 for about 10 years now. Never a penny of it been used, but it's never been changed. We didn't even ask for it, it just 'appeared'. :-\
The idea of a chat with the bank manager seems a little quaint nowadays. As Opti says, we just ring telephone banking and speak to an Asian chappie. All of the Barclays branches I know of have a bank of ATMs on the ground floor and a few desks upstairs.
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I had to get an appointment to speak to someone face to face to sort out mum's estate. I actually said I could not get through to the branch, and had to physically go in to the branch and get an appointment for the next day.
I asked why I could not get a 'straight through to branch' line, and the women told me that she would not be able to have an appointment with me, if she was on the phone everyday to people phoning in. Surely there must be a way round that !!!!!!!!
Incidently, after setting up the accounts in my name....the next question was.....do you need an overdraft to be placed on the account. Always willing to offer.....but flippin' quick to ask for it back if things don't go right >:(
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Well as we did not go out yesterday,i have just picked up the post on the mat.The letter from the bank says it has reduced my overdraft as,i am not using all of it.So i have to ask the question,when they offer it to you do they expect you to use all of it.It also says they have reduced it to fit in with how i have used the account recently.And more worrying it says as i have a classic account,until your planned overdraft is removed.We wont charge interest or fees on the first £25,if they were going to remove it.Would they not have already done that,instead of reducing it. :-\ :(
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With all the different members on here, you'd think there'd be someone who works in banking that could de-code all of this stuff. What do these letters actually mean?
Chopsdad, I think, used to be a bank manager, but he saw sense and disappeared years ago.
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Maybe you should use the overdraft to the max now and again. Just withdraw the cash to your overdraft limit, put it under your mattress and then pay it back a few days later. You'll pay a few quid in fees, but maybe if the bank see you are using the overdraft responsibly they might not withdraw the facility. :-\
Disclaimer: I am not a financial adviser. Investments can lose money and your home might be at risk, yada yada. Any action that you take following my advice you take solely at your own risk! ;)
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Maybe you should use the overdraft to the max now and again. Just withdraw the cash to your overdraft limit, put it under your mattress and then pay it back a few days later. You'll pay a few quid in fees, but maybe if the bank see you are using the overdraft responsibly they might not withdraw the facility. :-\
Disclaimer: I am not a financial adviser. Investments can lose money and your home might be at risk, yada yada. Any action that you take following my advice you take solely at your own risk! ;)
Personally, I think they are about to remove the facility, Tigger. :-\
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Maybe you should use the overdraft to the max now and again. Just withdraw the cash to your overdraft limit, put it under your mattress and then pay it back a few days later. You'll pay a few quid in fees, but maybe if the bank see you are using the overdraft responsibly they might not withdraw the facility. :-\
Disclaimer: I am not a financial adviser. Investments can lose money and your home might be at risk, yada yada. Any action that you take following my advice you take solely at your own risk! ;)
Personally, I think they are about to remove the facility, Tigger. :-\
Its seems so, but I just wondered if they would if Moggy was using it. :-\
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Maybe you should use the overdraft to the max now and again. Just withdraw the cash to your overdraft limit, put it under your mattress and then pay it back a few days later. You'll pay a few quid in fees, but maybe if the bank see you are using the overdraft responsibly they might not withdraw the facility. :-\
Disclaimer: I am not a financial adviser. Investments can lose money and your home might be at risk, yada yada. Any action that you take following my advice you take solely at your own risk! ;)
Personally, I think they are about to remove the facility, Tigger. :-\
Sadly i think you are right Ste,at the top of the letter it says they are reducing it.At the bottom it says until your planned overdraft is removed.But why reduce it they could of just removed it,i do have funds going in.And sometimes i am only in to it max £100,so i don't see the problem.Dean.
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The thing is i have a loan with them,if they pull the plug.I wont have any money to pay my creditors witch would include them.But i don't think that will make much difference to them,they will just bring in a collections agency.