Halifax Free Overdraft for existing customers

jazzipup

Hi all

I'm new to the forums but wanted to share this one.

I bank with the Halifax and am paying extortionate £1 a day fees for my arranged overdraft but found out today that there's a way to get interest free for 120 days on any overdraft upto £2,500. Go over this and they will charge you the usual attractive £2 per day.

All you need to do is switch one of your direct debits from another account you hold to your Halifax account.
I also have an Alliance & Leicester account which i don't use much so set up a DD for a credit card the other day.
Now that my AL account shows the DD i went into the Halifax today to swap it over.

They said that the interest free overdraft period will begin from tomorrow giving me plenty of time for me to clear my debts!!

Woo Hoo!!

fto

Well I have this I have read the post five times, still do not understand.............

jazzipup

fto wrote: »

Well I have this I have read the post five times, still do not understand.............

Ok mate. What part don't you understand?

samjef11_2

jazzipup wrote: »

Hi all

I'm new to the forums but wanted to share this one.

I bank with the Halifax and am paying extortionate £1 a day fees for my arranged overdraft but found out today that there's a way to get interest free for 120 days on any overdraft upto £2,500. Go over this and they will charge you the usual attractive £2 per day.

All you need to do is switch one of your direct debits from another account you hold to your Halifax account.
I also have an Alliance & Leicester account which i don't use much so set up a DD for a credit card the other day.
Now that my AL account shows the DD i went into the Halifax today to swap it over.

They said that the interest free overdraft period will begin from tomorrow giving me plenty of time for me to clear my debts!!

Woo Hoo!!

Is this really a question you need answers too or are you just tell us what you did do you need help with anything?

outofbounds_2

samjef11 wrote: »

Is this really a question you need answers too or are you just tell us what you did do you need help with anything?

I don't think the OP needs help with anything, nor is he/she looking for answers to a question.

The OP is clearly informing others of one of the benefits of the Account Transfer Service - that is, you are not charged any authorised overdraft charges for 120 days on an existing overdraft.

Quite thoughtful I'd say.

YorkshireBoy

outofbounds wrote: »

...you are not charged any authorised overdraft charges for 120 days on an existing overdraft.

Quite thoughtful I'd say.

And potentially very lucrative, being as it could save those savvy enough to take advantage of it some £120-£600 in that period.

jazzipup

Exactly. I don't need help. Not sure how it works here but i thought you give info as well as ask for it?

Anyway to clarify;
You get an interest free overdraft for 120 days up to £2,500 avoiding the £1 a day interest they charge.
Go over this you get charged the usual £2.
You need to go in to a branch and transfer at least 1 Direct Debit from another current account in your name to your Halifax account.

Simples