Woman furious over overdraft fees
July 4, 2007 by admin
Filed under News, News-Banking
A twenty year old university student recently expressed her anger over her building society’s failure to contact her about a tiny overdraft balance that went on to accrue months of expensive fees.
The woman stated that her account with the Nationwide Building Society was just 95p overdrawn after she wrote a cheque. However, whilst she was away studying at university the building society added charges to the overdraft on a monthly basis. When she arrived back from university some months later, the customer stated that she discovered that £250 in fees had been added to her student account.
According to the customer the Nationwide had been adding £20 each month to the account because of the outstanding 95 pence, but had made no attempt to contact her to let her know the situation.
She stated: ‘I had no idea the account, which I had not used in ages, was overdrawn. I was away at university for long periods of time.’
She added: ‘When I returned I found a massive pile of letters from the Nationwide waiting for me and an overall overdraft of almost £250. I was pretty angry with them because they had not tried to contact me by phone and it was quite obvious the account was not being used. They said my credit rating could have been affected which would have been bad so I decided to do something about it.’
The customer stated that she contacted Nationwide regarding the fees, but the building society said it was only prepared to waive fifty percent of the fees that had been charged. The customer then went to her local MP about the situation, and as a result of this the total fee was finally waived but the building society also closed her account.
Tom Smith
4th July 2007
