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First Direct £250 interest free overdraft
rh22uk
Posts: 20 Forumite
Hi,
I was thinking of switching to a Nationwide Flex account from my First Direct account but I was just wondering is there anything stopping me putting that £250 overdraft into a savings account and just leaving it.? Does there come a point where I am obliged to pay back the overdraft? What's stopping me never paying it back if it is interest free?
I was thinking of switching to a Nationwide Flex account from my First Direct account but I was just wondering is there anything stopping me putting that £250 overdraft into a savings account and just leaving it.? Does there come a point where I am obliged to pay back the overdraft? What's stopping me never paying it back if it is interest free?
0
Comments
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If you don't make regular payments into the account to reduce the overdraft, you will find that you will be asked to repay it. Banks monitor dormant accounts on a regular basis, they don't just forget about them.0
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Its interest free, but if you use it for too long, they reserve the right to ask you to pay it back in full, and charge you £20 at renewal time.0
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