Accounts Promising To Match Overdrafts

Vin2300

I currently have a Natwest current account with a £5,000 overdraft limit. I am currently in credit, but am expecting to be £2,000 overdrawn in a few months time due to some imminent and necessary spending.

I also have £3,000 oustanding on two credit cards where the 0% has expired, and i have been refused on one i was wanting to transfer to.

I am therefore considering switching to an Abbey account, as they are offering 12 months interest free overdrafts, and promising to match your existing overdraft. This seems perfect, and i will certainly be in a position to pay it all back in 12 months time, probably earlier.

On the Abbey website it then says "The £5,000 matched overdraft depends on us checking your previous bank statements". What are they checking for? I take it they do mean they will match my overdraft limit ?

Has anyone opened this account and are able to confirm?

dc110

To check that you do actually have the overdraft you are stating you do.

Also possibly to check you have not exceeded this limit regularly - suppose this depends on how many statements they have asked for.