Overdraft or savings?Help please!

gizfizz

hsbc overdrafts are 18.3% the last time i checked-awful!! so you're better without it! make sure you drop it down to £50 or something as a little buffer 'just in case' but DO pretend its not there and that you 'can't' use it. Also if you use internet banking remember that the available balance on the account details page includes the overdraft so dont rely on it too much!

headoutthesand

If you use your £600 overdraft to the limit at the moment and sometimes go over it, you may well just carry on doing this if you reduce it.

I, like many others, had (woo hoo - past tense) an overdraft and counted it as part of my wages. I was in it every month and paid intrest every month which in some way could be seen as paying to have the account.

I have only jsut cleared it off and decided to get rid.

register for online banking, check it first thing in the morning and last thing at night and i doubt if you will go into the red