Halifax Overdraft Reduction

OneLife_OneShot

Hi everyone, I have a Halifax account with a £300 overdraft and hopefully starting a part time summer job soon, I was wondering if you go in bank can you reduce it bit by bit because online it only lets you cancel it if you have the full £300 in the account, I was hoping to just clear it like £40/50 a week.

happy_bunny_2

Some banks run a credit check for reducing the OD amount and if it fails may request it all back. Very odd but true.

Safe option is to just pay the money in each week and cancel it when you have the £300 in there.

opinions4u

Keep the limit, but reduce the balance.

Then it's there for a crisis but you don't use it at other times.

Also, if you're paying £1 a day consider switching to their URCA (or banking somewhere cheaper). The URCA would cost you £15 a month, give you insurances you may need and save you the £1 a day charge.