From: Ronald Raygun 
Subject: Re: Unauthorised Overdraft Charges
Newsgroups: uk.finance
Date: Sat, 21 Apr 2007 19:46:24 GMT

Peter Saxton wrote:

> On Sat, 21 Apr 2007 18:08:42 GMT, Ronald Raygun
>  wrote:
> 
>>Andy Pandy wrote:
>>
>>> Informal overdrafts expire after 31 days, but there's no mention of how
>>> long formal overdrafts last, they say they'll send a letter spelling out
>>> the terms.
>>> 
>>> I imagine the usual policy would be to give indefinite overdrafts to
>>> "reliable" customers, if they don't I don't think they'll have many
>>> customers left....
>>
>>I once presented a cheque which I wanted to draw on immediately (or the
>>next day), and asked at the branch if that would be OK.
>>
>>Unsurprisingly, they said no.
>>
>>Surprisingly they didn't offer, but when I ventured to ask whether
>>they'd consider giving me a temporary overdraft of £4k, they didn't
>>hesitate to say yes.
>>
>>That was about 7 years ago, and the facility is still there.
> 
> Isn't the first a decision for your "bank manager" and the second on
> that is flagged up on your profile. I wanted to do something similar
> and the branch said no but they looked at my screen and they said we
> can give you an overdraft immediately. I think I turned it down
> because I was only wanting to move money around.

I don't understand what you're saying.  There are two decisions, one
whether to decline to let me draw against a cheque just paid in, the
second whether to authorise an overdraft.  I don't know how a "flag
on my profile", whatever that is, can "make" the second decision.

IIRC when I asked for the overdraft, the "yes" came immediately
without referring back to a "manager".  IIRC when I asked the first
question, she may have gone to check with a manager before coming
back to say no.  It may well be that the manager told her that an
overdraft would be OK, but if so I'm surprised she didn't offer it
but waited for me to ask for it.

All I know is that whenever I check my account online now, the
accounts summary shows an actual balance and an available balance,
and the latter is invariably £4k more than the former.  That tells me,
I think, that the "temporary" £4k overdraft authorised years ago is
still in force.