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Sneaky Bank

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  • 08-05-2013 10:05pm
    #1
    Sidetracker
    Closed Accounts Posts: 99 ✭✭


    Hi, I have been made aware,today, of a sneaky > immoral, local bank, that cancelled a Pensioners overdraft AND took her old age pension, to reduce the amount outstanding on her overdraft. This distraught woman was left without any money on a Friday. She was given NO warning. She went to an ATM and found that she could not draw out her Pension. Any thoughts or suggestions !.


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    #2
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    Overdrafts are given for a term in most cases. She was likely made aware of this when applying for the O/D. Thoughts/suggestions: Don't get an overdraft cos overdrafts are fucking stupid.


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    #3
    nlgbbbblth
    Closed Accounts Posts: 5,668 ✭✭✭nlgbbbblth


    If the overdraft facility is removed and a lodgment is made on the same day then these credit funds will be swallowed up by the outstanding debit balance.

    Overdrafts are usually repayable on demand. She should have been notified in writing about the withdrawal of same.


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    #4
    coffee_cake
    Registered Users Posts: 81,310 CMod ✭✭✭✭coffee_cake


    Overdrafts are repayable immediately

    3.0 Demand Nature of the Facility
    3.1 The Bank has the right at any time at its discretion to cancel the Facility


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    #5
    Cushie Butterfield
    Registered Users Posts: 1,861 ✭✭✭Cushie Butterfield


    If there's a danger that any further pension lodgements to her bank account will be eaten up straight away leaving her without money to live she should contact the Dept Social Protection & request that they pay her via Post Office, for the time being at least so at least she would still have access to her money.

    Once that's done she could talk to her bank & see if they can come to some sort of arrangement with her. They might be able to issue a loan to pay off the remainder of the overdraft which would make it easier for her to repay over time.


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