Need an account with NO overdraft!!

rcpbiggles

Hi
Is there such an account that WILL NOT allow you to go overdrawn? ie your card would get refused if there were not enough funds?

The reason i ask is that my other half is constantly totting up charges of £80 a month because he uses his card with no overdraft facility :mad: and the bank allows the transaction, then wacks £20 for the priviledge!

We need an account where he can have a debit/chip and pin card, but will not allow him to go overdrawn!

HELP!!!
Also, credit rating is not too hot - no defaults but irratic payment history. Would he need a credit check for such an account? Or a minimum amount to be paid in each month - it's basically meant to be a pin money account.

TIA!

grumbler

Majority of banks offer basic accounts with Solo or Visa Electron debit cards. In theory these cards don't allow to go overdrawn unlike Visa (Delta) and Switch/Maestro cards. Unfortunatelly, in practice this can happen when the card is used for small retail transactions. The only absolutely safe method in UK is to use a cash card or to use Solo (Visa Electron) card to draw cash only. Even with a cash card you can be overdrawn if you use it abroad.

Rafter

Even if your electron/maestro card is refused, if you have any direct debits or standing orders these could take you into fee teritory.

A few ideas: Ban your other half from using anything but cash. Get a current account which gives you a text alert when you are close to going overdrawn (eg FirstDirect). Reclaim all your bank charges from the last 6 years. Tot up all your charges from the last 12 months and point out to your other half that you could have gone on a weeks holiday in the sun if he had managed his finances a bit better.

Good luck

R.

maforduk

Like said above, I had a Visa Electron and never went overdrawn but I forgot to take into account my Direct Debits etc. Beware of these.

virgin_moneysaver

rcpbiggles wrote:

Hi
Is there such an account that WILL NOT allow you to go overdrawn? ie your card would get refused if there were not enough funds?

The reason i ask is that my other half is constantly totting up charges of £80 a month because he uses his card with no overdraft facility :mad: and the bank allows the transaction, then wacks £20 for the priviledge!

We need an account where he can have a debit/chip and pin card, but will not allow him to go overdrawn!

HELP!!!
Also, credit rating is not too hot - no defaults but irratic payment history. Would he need a credit check for such an account? Or a minimum amount to be paid in each month - it's basically meant to be a pin money account.

unfortunately not! _ the situation is that you have to be responsible for whats in your account (& whats due to go out) - you can't rely on your card being accepted as that just goes by whats in your account at the time of transaction & not the actual time that the retailer puts the debit thru to your account, which could have had DD's applied to it in the interim - at the end of the day you are in control of your account, not your card

mclaren_2

visa electron is the same as solo, that card you can NOT go in to overdrawn facility. You have to remember if you have any direct debits. So do what i do. i have 2 acocunts, one for direct debits and one for paying and spending. 1st of every month, as i get my wadges paid in, i get the bank to transfer over to my other account all the money for my direct debits for the month. I know then that i will not have anything coming off the account as i have paid everything, and therfor can spend what i need to spend its not hard to set up 2 accounts, but make sure you mark on one of the cards that this is the direct debit card, i dont take it out with me, i have it locked int he safe.

mclaren_2

rcpbiggles wrote:

The reason i ask is that my other half is constantly totting up charges of £80 a month because he uses his card with no overdraft facility!

oh, and you can get that money back. please see

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1141050760,24632,

that, you can get your money back.

http://forums.moneysavingexpert.com/showthread.html?t=181681

as you can see, i done it, i was given most of the money back without going to court. no harm in it, nothing ot lose, the bank WILL lose

grumbler

mclaren wrote:

...no harm in it, nothing ot lose ...

...besides, possibly, the account itself ...

mclaren_2

grumbler wrote:

...besides, possibly, the account itself ...

huh? how can the bank close your 2nd account? ive had 2 accounts with hbos for years and they set them both up, thats rubbish m8

grumbler

mclaren wrote:

... thats rubbish ...

Do you need examples? See this and this ...
Bank can close all accounts you have with them even without any reasons.

mclaren_2

grumbler wrote:

Do you need examples? See this and this ...
Bank can close all accounts you have with them even without any reasons.

but why will they? if sombody is a good customer, they aint gona wana lose that customer