Overdrawn customer thinking of switching to starling

priceey

Hello,
Starling bank has recently popped onto my radar. 
Looking at their website, it seems me, being a halifax overdrawn customer could save around £80 a year by switching to them (providing they accept an overdrawn customer)
Would that be a good idea?
obvs the savings on the account is a bonus, but are starling any good?

D3xt3r5L4b

I would concentrate on clearing and staying out of your overdraft first...

born_again

priceey said:

Hello,
Starling bank has recently popped onto my radar. 
Looking at their website, it seems me, being a halifax overdrawn customer could save around £80 a year by switching to them (providing they accept an overdrawn customer)
Would that be a good idea?
obvs the savings on the account is a bonus, but are starling any good?

If you switch you still owe your Halifax that money. It is not switched to Starling even if you get a overdraft.

Yes you could pay it off, once you have switched. But that is reliant on them giving you a overdraft amount that allows enough funds..

whitesmith

Starling are a nice bank and I'm quite fond of them

their overdraft rates seem to be about 15, 25 or 35% depending on whatever ...

you need to compare that with what Halifax are currently charging if it is less than obviously it is a good idea to switch providing of course they are happy to accept your overdraft

priceey

D3xt3r5L4b said:

I would concentrate on clearing and staying out of your overdraft first...

That's the point. I can't afford to pay more than £10 or £20 off a month.
If I switch and they accept my overdraft, I'll be paying £7 less a month in overdraft interest for a start. 

SlovakianGuy

My Starling says they can't offer me an overdraft as it is less than 90 days since I opened the account. Not sure if you can apply for the overdraft straight away.

born_again

priceey said:

D3xt3r5L4b said:

I would concentrate on clearing and staying out of your overdraft first...

That's the point. I can't afford to pay more than £10 or £20 off a month.
If I switch and they accept my overdraft, I'll be paying £7 less a month in overdraft interest for a start. 

Why don't you open a account and see if they offer you one. Then you can switch later (maybe, or just move DD's manually)
As I said. When switching any overdraft stays where it is (Halifax), it is not switched to the new bank.
No switching bonus, so it makes no difference.

D3xt3r5L4b

priceey said:

D3xt3r5L4b said:

I would concentrate on clearing and staying out of your overdraft first...

That's the point. I can't afford to pay more than £10 or £20 off a month.
If I switch and they accept my overdraft, I'll be paying £7 less a month in overdraft interest for a start. 

Maybe post on the DFW board whilst you’re here then