Deposit advice

Bendybops19

Hi

I need to pay a deposit for a flat by this Thursday.

The deposit is £1250 and it needs to be paid by a bankers draft.

I have exactly £1200 in my account for the deposit.

My question is....will the bank give me a bankers draft if the £50 or so will go in to my overdraft?

I am waiting for a cheque to clear, but i dont know if it will clear by thursday.

Does that make sense!?

Debt_Free_Chick

Do you have an authorised overdraft that will cover the £50? If so, then the bank should give you the banker's draft.

But don't forget to include any payments that might clear between now and then.

I am waiting for a cheque to clear, but i dont know if it will clear by thursday

A cheque you've paid in or a cheque you've written?

If you've paid it in, it ought to clear in 3 working days. If it's a cheque you've written, you should assume it will clear before Thursday - but would your overdraft cover it? If not, then the bank might refuse the draft.

HTH

Bendybops19

I have an overdraft of £1000 (which i have just got myself out of!! YAY!!).

The cheque is a cheque i have paid in, i put it in on Saturday, but i dont have much faith it will clear, when ever i need money asap it always takes longer!

So you think it should be ok if it goes in to my overdraft...thank god!!

Debt_Free_Chick

Might be an idea to call the bank and let them know that you may need to use your overdraft. Strictly speaking, it shouldn't be necessary, but if they know in advance, it might speed things up on Thursday.

Good Luck

Bendybops19

Thank you!! Will do xx