Bank Account that will not allow you to go overdrawn

bubas99

Hi All.

I'm looking for a bank account that will decline any transaction that would make you go overdrawn. My situation is that I have a shared account with my wife that always goes over and I have to top it up - she gets a text message every week to say current the balance but ignores that. Then it costs me money in fee's. I have no DD on this account, so I just want any transaction that goes over to be rejected - but I cant find any account that says it does it (and my current bank does not do it).

Any help would be great ta

grumbler

Have a look at this thread:Finally Santander launch new Basic Account!! But in a different approach

xylophone

Why does your wife do this?

Futuristic

Contact your bank and remove the overdraft facility?

bigadaj

Change your bank, or your wife?

HappyMJ

bubas99 wrote: »

Hi All.

I'm looking for a bank account that will decline any transaction that would make you go overdrawn. My situation is that I have a shared account with my wife that always goes over and I have to top it up - she gets a text message every week to say current the balance but ignores that. Then it costs me money in fee's. I have no DD on this account, so I just want any transaction that goes over to be rejected - but I cant find any account that says it does it (and my current bank does not do it).

Any help would be great ta

How about a savings account with a bank like Tesco?

You can get a cash card that can only be used in Link machines. It can't be used at the checkout. It does not accept direct debits against the account and does not have a cheque facility. It cannot go overdrawn.

Anthorn

bubas99 wrote: »

Hi All.

I'm looking for a bank account that will decline any transaction that would make you go overdrawn. My situation is that I have a shared account with my wife that always goes over and I have to top it up - she gets a text message every week to say current the balance but ignores that. Then it costs me money in fee's. I have no DD on this account, so I just want any transaction that goes over to be rejected - but I cant find any account that says it does it (and my current bank does not do it).

Any help would be great ta

In theory, any Basic Bank Account should not allow overdrafts but most of us will know that in practise they do allow unauthorised overdrafts and charge fees for it.

Again in theory and mostly in practise prepaid accounts such as Secure Trust Bank and Cashplus do not allow overdrafts but in practise do. The difference with these prepaid accounts is that although they may allow overdrafts they do not charge you overdraft fees and will require repayment of the overdraft immediately.

Be careful with prepaid accounts: In the case of unpaid direct debits and standing orders they do not charge fees but will delete those delinquent DDs and SOs and may even delete the whole account without prior notice. Read the T&Cs.

Monthly fees apply for most prepaid accounts which offer DDs and SOs.

grumbler

Futuristic wrote: »

Contact your bank and remove the overdraft facility?

Really?
Normally you can remove only agreed overdraft facility. And, if you go overdrawn, the result will be higher charges only.

agrinnall

Communication with your wife would seem like a better long term solution than looking for a third party to sort out your issues.

securityguy

Moral: don't have a shared bank account with someone who is financially irresponsible. Split your finances and leave her to sort her own mess out.

YorkshireBoy

securityguy wrote: »

Moral: don't have a shared bank account with someone who is financially irresponsible. Split your finances and leave her to sort her own mess out.

It goes deeper than that. You'd need to also avoid a joint mortgage or joint bank loan, as well as the current account, because abuse of her own sole current account will affect your own credit rating via the financial association created by said mortgage/loan.