Overdrafts and SWITCHING

carrieanneenglish

Hi folks.
I have used this site to find my best option for a current account and it's come up with Alliance and Liecester so i went ahead and filled in the online forms to switch from my Halifax account. I have since received an email saying my account request had been accepted but they could not offer me an overdraft...however i MAY be able to transfer my current overdraft using their premier switching service which i will get details of in my welcome pack.

My concearn is that the A&L refuse to accept the overdraft from the Halifax which is £700, and when they switch the accounts, Halifax are going to demand that the outstanding money be paid in full. Does anyone know if this is what will happen? Or will they perhaps let me pay it off in installments?

I'm now really worried and regretting switching accounts in the first place!:(

KTF

A&L will only match the overdraft if your existing account has been in credit a few times over the past couple of months and you use their switching team. If your account has not been in credit recently then they wont move it as that would be transferring debt.

carrieanneenglish

Aw see my account is always overdrawn...that's why i went fot the A&L one, it said on here that it's the best one for people who's accounts are always in the red. I think i'll just bow out of it asap. I really just wanted to do something positive, i am so unimpressed with the Halifax. Never mind, i'll try to get the overdraft paid off and then switch...it might make for a good incentive to get it paid quickly.