Looking for accounts with no overdraft

esoryram

Hi there. I'm looking for a bank account where I can transfer a certain amount of money each month to use as a budget. When that budget is maxed out, I would like any further transaction declined rather than going into an overdraft. Is there such an account?

I have the ability to top it up if necessary, but I'm hoping this will help keep better track of things and avoid unwanted and unnecessary overdraft fees.

Willing2Learn

Hi,

You could set up the 'Overdraft Control' feature on an applicable account (such as the NatWest Select account).

eskbanker

Yes, NatWest came up in another thread where this was asked, together with basic accounts (and some chat about the limitations of doing this):

https://forums.moneysavingexpert.com/discussion/5909808/removing-the-facility-for-an-unwarranted-overdraft

However, if you have the money available (being able to top up), then using a bank as a way of enforcing your budget may be overkill - would you be happy for direct debits to be bounced, for example? You might wish to consider using a bills account for the important/fixed stuff and a 'spends' account for the rest?

NewToTheUkAgain

Revolut maybe

colsten

Any pre-paid debit card might do. Most of them carry a monthly charge though,

18cc

i think monzo would be worth an enquiry

pinkdalek

Bank with Halifax/Lloyds - if you were to go overdrawn due to overspending they won't charge you. Likely to decline the transaction and will text you if you have a mobile phone registered.

Only bank not to charge for unarranged overdrafts.

[Deleted User]

Try Starling.

I took the wrong card out my wallet the other day and tried to pay with my Starling card and it rejected it and the app notified me saying the transaction was denied due to sufficient funds.

I only “top-up” my starling account when I go abroad and leave a zero balance on there otherwise