Published on July 24th, 2011 | by Pete0
Overdraft Request Rejection
Q – My bank declined me when I requested an over draft. What would be the reasons for this? – David
There could be a number of reasons that your overdraft request was rejected David. Banks will take a number of factors into consideration, such as your age, employment status, and your income, before deciding whether to allow you to have an overdraft. They are often reluctant to offer these services to individuals who have a poor history of repayment, a bad credit history, or who do not have ‘enough’ coming into the account every month. How much ‘enough’ is, is of course down to the banks’ interpretation. If you visit your local branch, they may be able to be more specific as they will be aware of your personal circumstances, and should be able to tell you specifically why you were turned down for an overdraft.