Unbelievable - Pre approved overdraft

moneysavingallday

ShelfStacker wrote: »

Halifax are taking the p*ss, surely? Overdrafts are for when you know you have money coming in but need to spend it now - surely giving people limits of thousands of pounds more than they're likely to get in in a typical month is reckless in that respect?

Agreed. It does seem very bizarre especially as the OP appears to be on a low income.

Kavanne

opinions4u wrote: »

I reckon the total limit for you as an individual is £10k.

You have £2,250 on one account, they will allow £7,750 on the other. As one increases the other will reduce.

Do you currently have £500 on the other? If so, the £10k minus £500 would explain the £9,500 offer.

Yes there is a £500 limit on the other... :eek: This makes sense, didn't know how halifax's logic worked but I see now!

bitterSTAR

JaRocks28 wrote: »

Your lucky you got this information, I work for a bank and this type of information is disclosed.
Obviously Halifax don't follow bank procedures.

Barclays also inform online banking customers of their pre-approved overdraft and loan limits.

moneysavingallday

bitterSTAR wrote: »

Barclays also inform online banking customers of their pre-approved overdraft and loan limits.

That's a good look!:T

daveyjp

scooby359 wrote: »

Occasionally, anomalies like that pop up, not sure why. Most customers can get an overdraft equal to their usual monthly income, but they're being a lot stricter on that lately.

Obviously they trust you a lot!

They used to. Not anymore, I saw our authorised limit on our current account once when in branch. It was 5 times our combined monthly income.

456789

Heh Halifax won't show me because I hold a specialised product :P - student account

Extant

When I was a BM, I used to encourage my staff to show customers their limits. Even if they didn't take anything, they at least knew that we could help them for the future.

Kavanne

BarclaysManager wrote: »

When I was a BM, I used to encourage my staff to show customers their limits. Even if they didn't take anything, they at least knew that we could help them for the future.

The problem is that they can change month to month... I've more than once had customers call through and say 'well 3 months ago they said I could have that overdraft/credit card/loan' when it declines....