Switching Bank Accounts

rolit77

I am interested in switching bank accounts.
I currently have a £2900 overdraft facility which I would like to keep.

Switching online does not seem to incorporate this in its questions.

Any suggestions welcome.

MyOnlyPost

Open a new account to switch and maintain your existing one

No_6

As above, why try and move a fair sizes OD

grumbler

Get a credit card that is likely to be far less expensive way of borrowing for emergencies than a big overdraft. And will possibly pay you some cashback.

AliceBanned

You are very unlikely to be able to switch it and know that you are offered the same overdraft. Only once the account has opened do the banks let you know what overdraft they can offer you.


It is probably not worth doing unless you switch it to a credit card as mentioned. I tried to do it a couple of times over the years and each time I had to cancel the switch after filling in all the paperwork and getting the account opened nly to find out that the overdraft was smaller or not offered at all. It was very stressful and worrying.