Bloody Banks!!!

A little while ago I decided to check my online bank balance.  Excellent.  It was under my overdraft limit.  A good place to be!!

For some reason, I glanced at the top of the page, where all the practical information is.  I never look up there - largely because the practical information so seldom changes.

It had this time!!!

My overdraft limit had been cut in half.  I was now significantly *over* my overdraft limit ;-(

I ambled up to the bank at lunchtime to find out what was going on.  It seems that the bank's Hal had decided that, as I almost never used my overdraft right up to its limit and therefore clearly didn't want it to be that high, it would reduce it down closer to where my balance usually is sat.

But surely that's the point of an overdraft, said I.  So that in the event of an emergency, or an unexpected pleasure, you have funds to draw on at no notice. Such as when you go to Australia for three weeks and would like a little extra spending money. Surely you shouldn't be sat at the outside edge of your overdraft limit on a regular basis.

Quite right, said the charming, helpful but ultimately useless young man in the bank.  Very bad idea to be right at your overdraft limit all the time.  Ring them up and get them to change it.

And another thing! Shouldn't someone have warned me that this was about to happen?

Ah yes, he said.  A letter was sent early in April.  And another was sent this morning.

I got no letter early in April.  And I certainly hadn't got the one that was posted that morning!! (That one didn't turn up for another three days or so.)  So the bank has, effectively without warning, cut my overdraft in half and I am now vastly overspent.

No worries said the ineffective young man (he couldn't actually do anything, you understand; he could only explain.  If I wanted anything done I needed to speak on the telephone to one of Hal's acolytes). It was us who made the change.  You won't be charged for it.

Yeah, right.  Looked at my bank account again today.  Not only have they charge me a £25 "arrangement" fee for cutting my overdraft without consultation, they have also charged me not once, not twice but THREE TIMES for being over the limit without authorisation.

I am not a happy bunny.  I am also not a cashed up bunny - I have access to £600 less than I was expecting to have access to this month!!

I am, however, in the market for a new bank.  Or maybe a new biscuit tin.