moving overdraft.

emzky

So I've opened an account with nationwide as they have a 0% interest on overdrafts ATM. We currently have an od with yorkshire. I'm thinking once the nationwide account is open, to transfer my od across to nationwide and then make 5x£100 payments to it until its paid, does this sound OK?

InsideInsurance

can do it in 5 transactions if you want. Any reason you think it wouldnt be?

emzky

I'm just wondering if they'll let me do this (Nationwide) I fully intend to switch our current account over to them one we have cleared the overdraft. Do you think they will allow me to use the overdraft even though no salary going directly in. I will be transferring money from my Yorkshire account to pay it off.

grumbler

There were reports about NW pulling the overdraft, but I think if you'll be fine if you make regular payments to the account to reduce the overdraft balance.

emzky

Oh I see, maybe I should ring them and see if this I'd something I can do. I can't see why not. I'd be making payments into it of £100 for five months til its clear. Its only £500 but as our disposable is only £600 ATM its meaning we just keep dipping back in.