Need some advice about bank accounts?

[PandaNate]

Hey guys,

I'm currently banking with Natwest, they've done something weird to the accounts display so now, even when I'm in my overdraft I can't tell... My bank would say something like £6 balance, £70 available... I have £100 as an overdraft, when I contacted them, they're explanation is you have pending balances coming out and you have -£30 in the bank... but then suddenly I'd get a text and be overdrawn (over my overdraft too)... I don't know where I am with it since they changed it so now.

So... that means I'm going to change my bank. I'm currently looking at Nationwide, I know it isn't a bank but I really want to stay away from HSBC and Royal Bank of Scotland...

What I need to know from you is how you have been served with your bank and what the online/mobile balance looks like when you have an overdraft?

I liked Natwest when it was like this.
Say I only had 60 overdraft left, it would say, Balance -40, available 60... makes sense yeah? Now it says balance £13, available £76, doesn't even make sense, shouldnt it be available £113 (over draft plus the £13?) :/

 

[toofatkat]

Hi banks have always had pending balances. They expect you to keep track of what you've spent I'm afraid. So in some ways the way Nat West have changed it is actually better for you. It means that rather than not telling you you e got something coming in or out they're actually warning you so that you don't spend and go over your agreed overdraft and do get charged.

Eg. If you spent £20 into your overdraft that had gone through and been debited from your account but you'd also spent another £30 that they could see was about to clear and be debited they're letting you know by telling you your account balance is less than you think it is. So you might think you'd got £80 of your overdraft left but they're telling you your available balance would be £50 so you don't overspend.

And the reason they're not telling you that your overdraft is there as an available balance is because its not your money to spend

Sent from my iPhone using MiniMins

 

[elm]

Instead of changing banks, keep track of your own money.

For example
My account balance shows: 100.00
My available balance is 40.00

That means I spent $60 and it hasn't been taken out yet. It's pending.

 

[PandaNate]

I'm asking for your advise on other bank accounts... 2 Natwest advisers have talked to me about my account, sorry if I'm thick but I dont understand it and NO-ONE should feel uncomfortable about their money, not in a day and age when not understanding it creates so much trouble, which will then get on top of my health. My boyfriend is excellent with money but he doesn't understand my account either because his account doesn't run like this and this is what I'm comfortable with. I want an account that hasn't changed so I can feel secure with my money again... It might make it easier for other people but as I said, I can't wrap my head around it and the other layout really worked for me, I never went overdrawn... I've gone overdrawn once since this current one so it obviously doesn't work the way they want it to with me.

 

[wobbly tum!]

I have account with both Barclays and Nationwide. Both show how much is in my account (with a minus figure for overdraft use); NW show acutal balance and available bal so takes into account any pending transactions, Barclays show my actual balance and I have to work out if anything is pending. Both show my overdraft limit. I work out what's left of my overdraft if that makes sense.

ie OD is £100 Available bal is -£30 so I have £70 left of my overdraft facility.
or OD is £100 Available bal is £30 so I have £30 of my money to spend plus I have £100 of my overdraft if needed. I hope this makes sense and is what you were asking for

All bank/BS will charge a lot for going overdrawn but it's worth looking into the charges too. I went overdrawn at NW by £2.50 for 3 days and they charged me £35

Good luck with what you decide.

 

[sarahmun]

Hi
i dont have an overdraft so canter advise on that but i found santander the best bank ive been with tried barclays lloyds and co-op. The on line facilities are fab. And the staff are really friendly plus they are a safe bank! Nite sure if this helps but i understand where ur coming from.

Sarah xx

 

[xbrollyx]

I bank with lloyds... I have a £400 student overdraft and my balance is shown like this:

Say I get paid say £1000 a month on pay day my bank would say

Balance: £1000
Available balance: £1400

And then when I'm into my overdraft

Balance: -£100
Available balance £300

Is that how yours used to work?? X

 

[tenaciousnat]

I've had exactly the same with Natwest lately. It's changed without a doubt.
However, I think all banks are the same. Barclays and Lloyd certainly are xxx

 

[PandaNate]

It's how it used to be but it's not now... today I've really looked at the account and feel perhaps I understand it a bit more but I'm not sure it'll ALWAYS be that way. My partner put a very large amount in my bank so I could pay off debt which might stop us getting the house we've found (I'm currently the only one who lives on their own, he's with his parents) so my account balance was like £xxx amount and my available balance was xxx amount, then when I paid the bill my available balance shot down to £46 which made sense as this is what it was before he paid the money in... however my balance is still in the high £xxx amount. So I guess I pay attention only to my available balance and ignore the balance. Still I had like £150 wage this week and it's down to £46 and I don't know why so I REALLY need the 'pending' balances to sort themselves out so I can see where the money went. :/

Anyhow's does anyone bank with Nationwide? Is it true building societies are better then banks?

 

[PandaNate]

Ok guys, I was getting used to it slowly but now I have an available balance bigger then my 'balance', Which ones correct?

 

[toxicsgrl]

Hey guys,

I'm currently banking with Natwest, they've done something weird to the accounts display so now, even when I'm in my overdraft I can't tell... My bank would say something like £6 balance, £70 available... I have £100 as an overdraft, when I contacted them, they're explanation is you have pending balances coming out and you have -£30 in the bank... but then suddenly I'd get a text and be overdrawn (over my overdraft too)... I don't know where I am with it since they changed it so now.

So... that means I'm going to change my bank. I'm currently looking at Nationwide, I know it isn't a bank but I really want to stay away from HSBC and Royal Bank of Scotland...

What I need to know from you is how you have been served with your bank and what the online/mobile balance looks like when you have an overdraft?

I liked Natwest when it was like this.
Say I only had 60 overdraft left, it would say, Balance -40, available 60... makes sense yeah? Now it says balance £13, available £76, doesn't even make sense, shouldnt it be available £113 (over draft plus the £13?) :/

Mines been doing this lately, saying my available balance is less than my actual balance. Then today it went to being overdrawn. I think it's just slow in showing transactions lately. It's not just you x

Sent from my iPhone using MiniMins

 

[PandaNate]

I'm following my available balance only atm, which so far is working. The balance doesn't make much sense and I got an email saying June, they'll start charging you for being in your overdraft so I'm going to get out of mine.

 

[sheepy19]

me and my partner have banked with nationwide for some time and we would recommend them Fees are reasonable, overdraft charges really aren't bad and never had any problems They show balance and money available. In the money available section, it doesn;t take into the money you have as overdraft. So if I have £100 overdraft limit and £20 in my account, it says money available is £20. Hope that helps