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[Camie]

I am with Bank Of Scotland, and took out money from their branch today.

When asked if I have wanted to upgrade my account I said no and explain that my overdraft in my Student Current Account is currently maxed out at £500.

They then told me that I am supposed to pay back at least £400 per quarter, according to my terms and conditions(not actually found them to clarify that).

However, I haven't payed back £400 for about a year and a bit so I am not too sure of how legit this is.

Anyone else have a Student Current Account with Bank of Scotland that can tell me if this is true or not, or does anyone have advice on what to do as I am really stuck in the mud just now with this.

[scottyboy]

by 'pay back' you just mean pay £400 in per quarter? i put money in from loan payments but it inevitably goes back down again pretty soon... i do know that a condition of the overdraft is that you pay your 'main source' of income (grants/loans and i guess any parental contribution or wages you get) into it, so probably if nothing goes in for 3 months they suspect you aren't doing it

[Camie]

Originally Posted by scottyboy

by 'pay back' you just mean pay £400 in per quarter? i put money in from loan payments but it inevitably goes back down again pretty soon... i do know that a condition of the overdraft is that you pay you're 'main source' of income (grants/loans and i guess any parental contribution or wages you get) into it, so probably if nothing goes in for 3 months they suspect you aren't doing it

Yeh that is what I mean.
If that was true then they would've got in touch with me over a year ago.

[scottyboy]

Bank of Scotland - Student Current Account

right at the bottom, fourth paragraph from the end:

'If you have an arranged overdraft you must pay your salary, grant cheque, student loan, parental contribution or other regular credit into your account.'

is where i saw it.

i had a friend who was accused of 'abusing' her overdraft, i'm not sure how they worked out she wasn't paying her money in though. also, i don't know where the £400 per quarter (assuming it's got anything to do with this rule) came from, never heard of that before.

[Camie]

Originally Posted by scottyboy

Bank of Scotland - Student Current Account

right at the bottom, fourth paragraph from the end:

'If you have an arranged overdraft you must pay your salary, grant cheque, student loan, parental contribution or other regular credit into your account.'

is where i saw it.

i had a friend who was accused of 'abusing' her overdraft, i'm not sure how they worked out she wasn't paying her money in though. also, i don't know where the £400 per quarter (assuming it's got anything to do with this rule) came from, never heard of that before.

I just phoned up.
As long as I make regular payments im ok.
The whole £400 per quarter is a load of bollocks apparently.

[Bigsby]

Originally Posted by Camie

I just phoned up.
As long as I make regular payments im ok.
The whole £400 per quarter is a load of bollocks apparently.

Just as well you went to the huge effort of phoning the bank instead of wasting your time soliciting financial advice on an online music forum.

Originally Posted by Camie

I just phoned up.
As long as I make regular payments im ok.
The whole £400 per quarter is a load of bollocks apparently.

I think there is a bit of legislation somewhere which states all payback of debts must be offere as regular payments as opposed to the whole amount at once - up to a point

[Camie]

Originally Posted by Bigsby

Just as well you went to the huge effort of phoning the bank instead of wasting your time soliciting financial advice on an online music forum.

I see what you did there.
Sounds silly, but I was scared that I phoned them to explain my situation and they would realise what was going on and demand the whole payment.
Also, I didn't realise they had 24 hour customer service.

[Hogisbald]

Banks are all arseholes.

Everytime Im told that I will be charged for paying cheques I change bank.

RBS are shit.

BOS...not so bad.

Regarding business banking, just hope you never become a business bank manager. Im a nice guy but not when it comes to dealing with business banking.

Bank manager-"Hi Scott, welcome to our brilliant banking service"

Scott- "Thank you. Do you charge for me submitting cheques"

Bank manager- "Yes"

Scott- "Why? One of my friends has a family business and he made an agreement with you guys that he doesn't get charged for cheques"

Bank manager "em, overheads em...blah blah"

Scott- "Your crap"

[Scorge]

Originally Posted by Hogisbald

Bank manager-"Hi Scott, welcome to our brilliant banking service"

Scott- "Thank you. Do you charge for me submitting cheques"

Bank manager- "Yes"

Scott- "Why? One of my friends has a family business and he made an agreement with you guys that he doesn't get charged for cheques"

Bank manager "em, overheads em...blah blah"

Scott- "Your crap"

Bank Manager: "You're not bald"

Scott: "LOL ig ig ig! Did I ever tell you about...."

Bank Manager: "That cumshot? Yeah, about 400 times...."

Scott: "LOL ig ig ig!"

Bank Manager: "Errrrrrrr....."

*phone goes dead*