Are current accounts and savings account treated separate with same bank?

vaporate

Casual question. Nothing serious.

Does the bank treat savings account and current account as separate entities? Or as a whole.

There is no certain particular answer that I am after. Just your own personal opinion. Nor am I after particular advice.

I look forward to the replies. If any.

jonesMUFCforever

Most banks will set off a credit balance in one account with an overdrawn one in another.
So the answer to your question is no.

Brian_The_Lion

I asked this question a couple of weeks ago - mainly because I was curious to see whether or not the bank could move money around my accounts without my prior consent.

My reason for questioning this was to do with savings paying off an overdraft if the bank decided to activate the clause in my T&C's regarding "repaying my overdraft on demand"

Basically the answer for me was NO - they arent separate....

I'd recommend holding your current and savings accounts with different banks...

vaporate

Thanks Guys.

I have a Natwest Graduate Account and a E-ISA with natwest.

I'm not in debt with natwest but if I become overdrawn I may shift the savings with the best payer.

ING appear okay but the fact that they are foreign? Puts me off.

Thanks again guys for your input.

Any other posts are most welcome.

YorkshireBoy

Brian_The_Lion wrote: »

My reason for questioning this was to do with savings paying off an overdraft if the bank decided to activate the clause in my T&C's regarding "repaying my overdraft on demand"

Basically the answer for me was NO - they arent separate....

I'd recommend holding your current and savings accounts with different banks...

Why would you want to keep savings paying circa 2% AER when you have debt incurring circa 19.9% EAR?

Unless your overdraft is 0%?

Dave_save

I think for some (if not all) banks, if you have a linked savings account and then close the current account, they will automatically close the savings account. So in a roundabout way they do treat them as being part of your 'whole' banking account. It's worth looking at the Ts and Cs.

LeeSouthEast

The very reason Barclays hold my current account (bills and debts via barclaycard), and ING hold my savings

Apricot

I have Natwest current and savings account and they have phoned me before to advise me to move money from the savings account to the current account to stop me going into an unauthorised overdraft so it was useful in that instance.