account closure over 4 cent!

got an amusing letter in the post from the bank stating that my SAVINGS a/c would be closed as it was overdrawn by €0.04.

It cost them more in postage than the amount in question and it was their system that allowed a saving's a/c to be overdrawn!

letter link here (a google doc image)
[broken link removed]

The letter is very clearly asking you to bring your savings account into credit which is perfectly reasonable.

They are telling you that your account will be closed if you don't comply, which agains is perfectly reasonable.

You might explain how a savings account has become overdrawn. Did Ulster Bank make a withdrawal?

Brendan

Brendan Burgess said:

You might explain how a savings account has become overdrawn. Did Ulster Bank make a withdrawal?

Click to expand...

I too find that amazing, and in addition, what is the point in having a savings account if there is no money in it.

I was finished with the account and from what I remember I was transferring the small remaining amount out of the account but it failed to go through so I tried again and it must have done it twice. Their system however shouldn't have allowed me to do what I did - the amount could have been much larger.

Clearly this is an automated letter that was sent out. In the meantime I managed to find the 4c and transfer it into the a/c. Mainly because I'd have probably ended up with a bad credit rating if I hadn't.

I tend to leave unused accounts open - if the interest rates improve I can re-use and opening an account is allot of hassle.