Help needed!

kirsty_baird

I have a current account with Bank of Scotland which is due to start charging me £1 a day as of September so iv decided to change over to A&L due to the incentive to change over. I applied on line and selected to change overdraft which I currently have £1000 with Bank of Scotland but it doesn't say on A & L how much they will give you? Any ideas? Im so confused!!x

stephane_2

They will decide how much to give as an overdraft once they've checked your credit file & see your current level of debt but also depending on your income. They may decide to match the current one but they may also decide to give you a much lower overdraft limit...you'll just have to wait & see what happens now

kirsty_baird

arghh what if its lower? I don't want the account then, can i cancel it?

samjef11_2

kirsty_baird wrote: »

arghh what if its lower? I don't want the account then, can i cancel it?

Well i think if you close it then open a new one the searches on your credit report file will not look so good.

kirsty_baird

ahh didnt think of that!

I'll just need to hope they offer the same overdraft

samjef11_2

kirsty_baird wrote: »

ahh didnt think of that!

I'll just need to hope they offer the same overdraft

if not close it and try the co-opertive bank but do you know how many banks have you tried to apply for so far?

kirsty_baird

This is the first account iv tried to open since i was younger been with bank of scotland for around 20 years just upgrading accounts

stator

A&L used to have a policy where they would match the overdraft of your current account if you showed them your statements. No idea if they still do this but it's worth asking.

kirsty_baird

Thanks iv got statements so ill ask

noh

stator wrote: »

A&L used to have a policy where they would match the overdraft of your current account if you showed them your statements. No idea if they still do this but it's worth asking.

Those statements need to show that you are out of your overdraft at least 4 days a month if not they won't match your existing overdraft.

kirsty_baird

figured out what i will do if i dont get the same overdraft, keep both accounts open transfer dd etc to new account and transfer over the min £500 a month to a&l from other account pay dd etc from this account until reduced overdraft from old account and i can close the account and gradually change to a&l can i do this?