First Direct withdrawing overdraft

izools

If you're wondering whether you can afford £90 a month for a year it's no wonder they want to remove your overdraft...

If I were in your position I'd take the loan. The APR offered is reasonable and no more than you'd be charged on a £1,000 overdraft elsewhere.

At least if you take FD's offer of a loan you'll finally be able to manage your current account properly (i.e. in the black).

Good luck moving forwards. FD are a good bank, I'd stick with them. And if you can manage your money better in future (i.e. a higher average balance and turnover) they may return the overdraft. I'm guessing you "lived" in it? This would be why they withdrew it. "Living" in an OD is a massive sign of debt stress or financial incompetence.

Good luck! :beer:

hello2007

meer53 wrote: »

Two reasons why a bank will remove your overdraft -
1. Because you use it constantly.
2. Because you don't use it very much.

I did not use very much and I never use all of it so guess they thought that I did not need it.