Alternatives to Barclay's Premier Account

Briantmair

I have received a letter from Barclays to state that they are moving my current account to a standard account from a Premier account.

This was originally sold to me as a way of managing overdraft costs (First £1000) interest free plus other benefits for a monthly fee of £25.

I now have less of a need for the overdraft but Barclays are now going to charge £0.75 per day for any amount that is £15-1000 which will equal approx £22 per month if I was to be in the red every day.

SO! I am looking for a new account after 17 years with Barclays and would like any advice.

I earn Circa £35k pa and would say I need a £500 buffer overdraft (preferably interest free). Breakdown and Phone Insurance is important but have not looked in any depth at any accounts yet

Any ideas?

grumbler

I can't believe that a person earning £35K really needs £500 overdraft and can't save mere £500-£1000 to be able to live in black without an overdraft.

Nationwide FlexPlus for £10 p.m. offers free overdraft for 12 months as well as breakdown cover, travel and mobile insurances. I hope you'll be able to save £1000 during a year to be able to live without an overdraft when the free one ends.

First Direct offer a permanent free £250 overdraft.

Briantmair

Hi ! Thanks for that input, It is more of a safety net as I have wedding and honeymoon plus other expenses this year. Looking through my outgoings I guess the overdraft facility probably isn't essential however having had one since my student days the "free" overdraft was a nice to have.

grumbler

A credit card is a much better 'safety net' than an overdraft.