Overdrafts

[hammy0508]

Can your bank remove an overdraft on your account without any warning?

[Piper-AK]

You'd best read the small print of your own bank account as they do reserve the right to withdraw such facilities.  They should write and give you a bit of notice though, at least!

[Loosehead]

Yes, the bank runs the account as it sees fit, it can withdraw facilities at any time. As pointed out by Piper, this will be in the terms and conditions that you signed when you openned the account. No one ever reads the conditions but essentially if you could sum it up in one sentence it would be "We can do what we like when we like and you pay"!

[stevie21]

As a courtesy, they'll usually give you written notice but aren't normally required to do so. So, in a word, yes.

[brachiopod]

Just to add an example or two;

If your bank are fed up with the way you run your account with an overdraft, they can withdraw that facility, but they will usually give you notice by letter saying they are going to do this.

However, it can sometimes appear that they have withdrawn your o/d facility without notice. This usually happens when you were skint and phoned them up for an overdraft and they said " X amount for twelve months" you forget that it's coming up to twelve months ago, ang bang! there goes your overdraft apparently without notice.