Switching Accounts and Overdraft

zerog

If you think a bank should offer you the same overdraft as you currently have when switching, why not force them to offer you a credit card with the same limit as well?

All bank current accounts have certain features: e.g. the ability to pay money in and out by cash, BACS, FP, cheque, SOs and DDs. When switching these are theo nly things that need to be offered. An overdraft is not a basic feature of a bank account.

JuicyJesus

samwardill wrote: »

I rarely use my overdraft. I just make lots of large transactions and I want an authorised overdraft so that I don't have to keep a large balance in my current account to prevent going unauthorised and incurring extortionate fees.

That is your choice, but any bank offering a massive overdraft to a new customer who'd just rocked up on their doorstep would be remarkably foolish, especially with fraudsters being what they are.

While the OFT has made noises about barriers to switching such as administrative work required and the presence of numerous different types of payment, I don't see them looking to mandate that a bank takes on another bank's credit risk any time soon.