HSBC Overdraft

kayla3600

Good Morning,
I want to start reducing my overdraft by £50 every couple of weeks, but wonder if a credit check will be done everytime? Also does it count as an overdraft request? Because I could be charged £25 each time, if its more then once every 6 months I think.
I no some people will say save and then cancel when I have the full amount, but with the reductions it will feel like I'm getting somewhere and will stop me spending it!

kayla3600

Cheeky Bump

TheEffect

To reduce your overdraft, no credit check is done.

kayla3600

Thank you! Thought someone would know!

titchthepunkess

I did this with my HSBC overdraft, they will only do a credit check if you want to up it again.

Sharon87

But do it more than twice in 6 months and they'll charge you the £25. If you formally or informally request a change in overdraft twice within 6 months you will be charged a £25 overdraft arrangement fee - meaning request a change or go over your limit twice in 6 months we'll charge you. I'm with them. I reduced it by £50 once, but won't again for a while! In the mean time into the savings it goes...