Switching banks but have an overdraft

Frugalution

Hi everyone

This is my first post so please bear with me!

I've been on a mission to cut my spending since having my daughter 9 months ago and now I'm back at work, I'm looking to switch bank accounts to take advantage of switch bonuses.

As it stands, I'm around £900 overdrawn so need an account that can accommodate this while I gradually get my finances on track and hopefully clear it by the end of the year. My wages are around £1200 per month, working 3 days a week.

Can anybody suggest any bank accounts for my situation?

Thanks

Frugalution

Forgot to say I currently bank with Natwest!

Willing2Learn

Hi and welcome to the forum

Have you considered First Direct? They offer a £250 0% overdraft. Above that it is 15.9% EAR. (Overdraft is subject to status). You receive a £125 switch incentive too...

Edit: Forgot to say. You also get access to a 5% APR Regular Saver account if you have a current account.

YorkshireBoy

Whatever you do, you must not go with a bank that demands you initiate the switch during the online application.

Instead, choose one where you can initiate the switch once the account is open and any overdraft facility agreed and put on your account.

Alternatively, it may be more lucrative to switch sacrificial accounts and pay any bonuses into the account with the overdraft.

[Deleted User]

Maybe also post on the DFW board as well