Debit Card Overdraft

ndelboy

Hi,
Probably a daft question. But we are with Nationwide and they are changing over draft fees. This will potentially jump from £15.50 a month to over £75 per month in overdraft charges.

I am looking at 0% credit cards like Tesco that for a one off transfer fee of £120 means i can have zero interest for potentially 28 months.

But does this apply if you are transferring the overdraft of a debit card in the same way it does from credit cards?

Hopefully that makes sense.
Thanks
ndelboy

[Deleted User]

You’re not transferring the overdraft.

You need a money transfer card to transfer money INTO your account to clear the overdraft.

Ben8282

Firstly, you don't have an overdraft on your debit card. You have an overdraft on your current account.
Secondly, balance transfers can be made only to credit cards. You will need a 0% card which offers money transfers into your current account.
Thirdly, this is nothing to do with stoozing.

ndelboy

Thanks for the quick responses.

I didnt even realise i had clicked into Stoozing, i only recall clicking "credit cards" high level

Will look into payment transfer cards instead. Thanks

ndelboy

Sorry to double check, but if I've found a credit card that states

"0% interest on money transfers to your bank account for up to 28 months from account opening, with a 3.94% fee. We may offer you a 0% interest period of 22 or 16 months instead depending on your individual circumstances."

this is a payment transfer card, correct?

Happy for this thread to be moved up a level as well by an admin.

jay1804

Yes that card would be fine, i guessing it's from Tesco Bank

[Deleted User]

Money Transfer Card.

There’s no such thing as a “Payment Transfer Card”