Halifax Current Account Overdraft

riderross

I opened up a Halifax Current account a couple of weeks ago. I checked my online banking for this account and it says "overdraft limit 250.00". I didn't ask for this!! how easy is it for me to have the overdraft facility removed or is it a benefit to have. I'm always in credit anyway so will not be using it.

Thanks

R

withnell

There was probably a box auto-ticked on the app form for an overdraft that you didn't untick!

I don't see why an overdraft of that size would ever hurt you, and it's always worth having just in case!

YorkshireBoy

Very easy to remove it. You can even do it at their expense via their callback service...

http://www.halifax.co.uk/bankaccounts/callback.asp

However, I'd leave it in place as an insurance policy against unauthorised overdraft charges.

opinions4u

To remove/amend it:

Call in to a branch, ring them up or go in to the account on the online banking and select the overdraft option from the left hand menu. Follow the prompts from there.

Simples.

That said, why not keep it? If you're disciplined enough to stay in credit, use it as an insurance against getting your sums wrong and going accidentally overdrawn. The charges will be significantly lower if you have an arranged overdraft rather than an unarranged one.

Linky here to help you work out what the charges may be if you did ever go overdrawn.

jambosans

YorkshireBoy wrote: »

Very easy to remove it. You can even do it at their expense via their callback service...

http://www.halifax.co.uk/bankaccounts/callback.asp

However, I'd leave it in place as an insurance policy against unauthorised overdraft charges.

According to the page on that link that is a callback is for applications, they would probably refer you to Telephone Banking on 08547 20 30 40 seeing the account is now open.

Also I do agree that even keeping a small overdraft on an account is a good way of avoiding charges if you slip into the red.

You can remove the overdraft online, over the phone or in branch, take your pick, it is easy.

riderross

Thanks guys for your replies. I am going to keep the overdraft.

rb10

jambosans wrote: »

According to the page on that link that is a callback is for applications, they would probably refer you to Telephone Banking on 08547 20 30 40 seeing the account is now open.

You are correct that the callback does mean the new applications people ring you back, but every time I've used it they just transfer me through to telephone banking - all at their cost. So it still works, you just have to speak to another person in between.

BankofScotlandGuy

£250 overdraft is usually put on accounts when you are switching your current account and you dont have a cheque guarantee card.

are you switching you current account to halifax? it will be interest free safety net on for 120 days if you are doing that

thanks

riderross

BankofScotlandGuy wrote: »

£250 overdraft is usually put on accounts when you are switching your current account and you dont have a cheque guarantee card.

are you switching you current account to halifax? it will be interest free safety net on for 120 days if you are doing that

thanks

Spot on. I am switching to Halifax. So after 120 days this overdraft will dissapear?

Thanks

R

opinions4u

riderross wrote: »

Spot on. I am switching to Halifax. So after 120 days this overdraft will dissapear?

Thanks

R

No, the overdraft will remain.

The interest free element will end.