Looking for bank account with 0% overdraft up to at least £800

acidjiles

Only earn £14400 a year so cant go with santander (is there a way to add the £300?) and there is no lower earning alternative provided by Martin. Anyone know what I could go for?

Will also need to be able to stop paying to the account after 3 months (going travelling) without the benefits stopping. The £2 a month Santander charges for theirs if 1000 isn't paid in would be fine for example.

Thanks

Hax

Probably worth pointing out that overdrafts are repayable on demand. I would think that a circumstance that would make a bank want to enforce that would be someone no longer paying into their account but getting more and more overdrawn. It gets even worse if they are unable to contact you to discuss the matter because you're out of the country.

End result is that your travelling could end up trashing your credit record for the next 6 (or more) years.

As per the advice given on your other thread - save for the holiday. You've no guarantee that you will be able to repay the debt when you get back.

acidjiles

Hax wrote: »

Probably worth pointing out that overdrafts are repayable on demand. I would think that a circumstance that would make a bank want to enforce that would be someone no longer paying into their account but getting more and more overdrawn. It gets even worse if they are unable to contact you to discuss the matter because you're out of the country.

End result is that your travelling could end up trashing your credit record for the next 6 (or more) years.

As per the advice given on your other thread - save for the holiday. You've no guarantee that you will be able to repay the debt when you get back.

This would be my back up card. Have a long standing account with Nationwide and they don't mind a bit of overdraft for a few months from me. It would only be for a month or 2 at most. This is only as a contingency not what I want to do. It ain't a holiday I will be learning Spanish full time and intend to work there around it to cover menial expenses.

So any answers to the actual question?

Thanks

izools

acidjiles wrote: »

So any answers to the actual question?

Thanks

Yes. There are no bank accounts in the UK that offer a #800.00 interest free overdraft unless you are a full time, first-time university student.

acidjiles

izools wrote: »

Yes. There are no bank accounts in the UK that offer a #800.00 interest free overdraft unless you are a full time, first-time university student.

well how about a bit lower then? maybe 500.

zppp

Can you not use Google?

http://lmgtfy.com/?q=%C2%A3800+interest+free+overdraft

http://lmgtfy.com/?q=%C2%A3500+interest+free+overdraft

stclair

zppp wrote: »

Can you not use Google?

http://lmgtfy.com/?q=%C2%A3800+interest+free+overdraft

http://lmgtfy.com/?q=%C2%A3500+interest+free+overdraft

You do make me laugh zppp thats class

acidjiles

stclair wrote: »

You do make me laugh zppp thats class

Lol of course I can google. I didnt ask here because I can't google, I asked here because I thought there might be some knowledgeable people here with advice on which of the many would be best given my income. I appear to have been wrong.

izools

You can only get what banks class as "Interest Free" / "Fee Free" overdrafts with "Added Value Accounts".

For example, the Lloyds TSB Premier account comes with a #500.00 free overdraft, but the account costs #25.00 a month.

First Direct comes with a #250.00 free overdraft, but the account costs #10.00 a month if you don't fund at least #1500.00 a month into it.

You unfortunately won't find totally free borrowing in the form of an overdraft.

The closest you will get is either a Tesco Credit Card which offers interest free purchases for 12 months, or a SBT (Super Balance Transfer) credit card which will allow a 0% offer on money transfers into a current account.

SimonM_2

Santander appear to have just released a current account with up to £1,200 0% EAR (variable) Arranged Overdraft. No Daily Arranged Overdraft Fee for the first 12 months, for customers who switch to them. Presumably this may be suitable for the poster.

acidjiles

izools wrote: »

You can only get what banks class as "Interest Free" / "Fee Free" overdrafts with "Added Value Accounts".

For example, the Lloyds TSB Premier account comes with a #500.00 free overdraft, but the account costs #25.00 a month.

First Direct comes with a #250.00 free overdraft, but the account costs #10.00 a month if you don't fund at least #1500.00 a month into it.

You unfortunately won't find totally free borrowing in the form of an overdraft.

The closest you will get is either a Tesco Credit Card which offers interest free purchases for 12 months, or a SBT (Super Balance Transfer) credit card which will allow a 0% offer on money transfers into a current account.

Thank you and the person above for actual answers to the question rather than snotty responses.