Bank Account Advice please

stubbyd

Due to historical reasons my wife and I have always had two current accounts - both joint accounts.

Again historically my pay has gone in to one (Halifax) and hers in to the other (Abbey National) but due to recent hassles we're looking to close the Abbey one and move but after suggestions.

Do we put it all into one?

Do we utilise a new account with a.n.other bank (or even the Halifax)?

or ...?

The salient facts are, as I see them, are this ....

• my wife only works part time and less than £9Kpa goes in
• the account only has a few dd or so's
• it is used to pay for the family shopping
• most months it is approx £50 to £150 overdrawn.

if we migrate it all to the Halifax account then there's a possibility it could start to bring that account into a regular monthly overdraft which is something I'd like to avoid.

any bonus join ups would be nice but not sessential.

coolesticeking

To be honest, I would try and build up a buffer so that you do not go overdrawn if you can.

If you can pay in over a £1,000 a month you will get a £5 on the Standard Reward account.

Start using any Overdraft up to £2,500 a month then you will be charged the lovely £1 a Day rate..

Pays to build that buffer up so you don't go Overdrawn - I've just paid my overdraft off by just cutting back a little bit and I won't be paying these high fees any more! You might think they are doing you a great favour by giving your finances a little extra breathing space - But really they are the only ones taking you for a ride.. You will be better off by not using it and feel good when you can spend that money instead of them!!

stubbyd

I appreciate the reply David - however the reality is that building up a buffer is not something that is feasible and as to paying in over £1k a month - again with current circumstances that too is not going to happen.

I know about the Halifax o/d charges which is why we don't go overdrawn in that account but as I said circumstances mean we don't want to be with Abbey Nat any longer than we have to be and are looking to replace it with a.n.other account offering a similar deal say but just not them

coolesticeking

I understand, it's not always easy when money is so tight.. One that springs to mind is First Direct..

They give £250 interest free overdraft which could come in handy..

CH27

First Direct are excellent but can be picky about who they accept.

DrSyn

1st choice "First Direct"

2nd choice " Coop Bank"

From what I read on this forum a few days ago you might like to give Natwest Banks Regular current account (current plus) the once over because of its "free overdraft" facility. Which might suit you.

You can chat with them online about it before you go ahead. Cannot say what they are like to bank with these days.

stubbyd

Apologies everyone for late reply - been busy and forgot about this thread. Have thanked all of you individually for your time though as I appreciate it.

First Direct and or Co-Op it appears to be then.