Bank switch dilemma.

_Persephone

Hi all,

I am currently with Lloyds TSB and have an overdraft of 1k (which I almost always get up to), a credit card, and a loan with. I've also totalled up the number of charges I've had in the past 6 years - it works out to be £1830, and although I am struggling financially, I don't think I have a strong enough case for financial hardship.

After recently having my lightbulb moment, I have decided to change banks to First Direct, transfer my current account to them with my direct debits and pay back my overdraft to Lloyds month by month.

But now Lloyds have called and offered me £200 in vouchers to keep my direct debits with them. If I transfer to FD, I will get £100. It's very tempting - what would you do?

Hannah_10

I'd get a new bank, like originally planned, and consider the £100 from FD to be a bonus on my debt free journey.

[Deleted User]

I too would stick with your decision to switch.

It will be much easier for you to get out of your overdraft, and £100 cash will be easier to throw at debts than £200 of vouchers.

D9