EXTENDED: You've got another week to add your travel & holiday deals questions for expert MSE Oli as part of the latest Ask An Expert event.

Bank accounts with no overdraft?

2

Replies

  • RondoRondo Forumite
    9 Posts
    First Post
    Forumite
    Band7 said:
    Rondo said:.

    Band7 said:

    This appears to be a somewhat irrational requirement, as app security is superior to online banking
    People keep saying this, but I don't see any particular reason to believe it without an authoritative technical source. 
    Plenty of authoritative technical discussions about this available on the internet
    I've not yet found any that convinced me to give up my suspicion.  The main issues I see are that I'm far more likely to lose or misplace my phone than my PC, and two factor authentication seems a lot more secure when the auth code is sent to a separate device than the one I use to access the account (I'm happy to use my phone for 2FA for online banking, I am not happy to allow it to have access to my actual bank account).

    Also, in general I am not inclined to trust technology that I don't have at least a basic understanding of on a technical level.  I build windows applications and secure web applications for a living, so I understand the security risks there well enough to be comfortable with them.  I don't particularly know anything about Android or phone hardware.
  • p00hsticksp00hsticks Forumite
    11.9K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Forumite
    ZeroSum said:
    Just pick any high Street bank & just don't apply for overdraft. I've got loads of accounts & none of them have an overdraft

    They may not have an agreed overdraft, but it doesn't necessarily mean that they would decline an online payment that took you into the red (or if they did, that they wouldn't charge you for bouncing the payment).
    So not what the OP is asking for.
  • ZeroSumZeroSum Forumite
    870 Posts
    500 Posts Third Anniversary Name Dropper
    Forumite
    ZeroSum said:
    Just pick any high Street bank & just don't apply for overdraft. I've got loads of accounts & none of them have an overdraft

    They may not have an agreed overdraft, but it doesn't necessarily mean that they would decline an online payment that took you into the red (or if they did, that they wouldn't charge you for bouncing the payment).
    So not what the OP is asking for.

    OP is coming across as a bit of a conspiracy nut who's looking for a unicorn, so no one will be able to provide what OP is looking for.
  • km1500km1500 Forumite
    1.3K Posts
    1,000 Posts Name Dropper
    Forumite
    The best way is

    1.download temporarily the Starling app, apply for an account and debit card, set the overdraft slider to zero, uninstall app

    2. from then on use the Starling web portal via eg Chrome on your desktop
  • wmb194wmb194 Forumite
    2.1K Posts
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Forumite
    Use a tablet to run the mobile app. If it never leaves home you don't need to worry about losing it. Chase would tick the OP's boxes - it doesn't offer overdrafts to anyone and won't allow you to go overdrawn.

    Another option would obtain a credit card and set it up with a direct debit that pays off the balance in full every month. You wouldn't be borrowing any money.
  • RondoRondo Forumite
    9 Posts
    First Post
    Forumite
    ZeroSum said:
    ZeroSum said:
    Just pick any high Street bank & just don't apply for overdraft. I've got loads of accounts & none of them have an overdraft

    They may not have an agreed overdraft, but it doesn't necessarily mean that they would decline an online payment that took you into the red (or if they did, that they wouldn't charge you for bouncing the payment).
    So not what the OP is asking for.

    OP is coming across as a bit of a conspiracy nut who's looking for a unicorn, so no one will be able to provide what OP is looking for.

    I don't recall proposing any conspiracies, and as it happens I already have a unicorn.  It just happens to cost me about £35 a year and I want to know if I can get one cheaper elsewhere.
  • ZeroSumZeroSum Forumite
    870 Posts
    500 Posts Third Anniversary Name Dropper
    Forumite
    Rondo said:
    ZeroSum said:
    ZeroSum said:
    Just pick any high Street bank & just don't apply for overdraft. I've got loads of accounts & none of them have an overdraft

    They may not have an agreed overdraft, but it doesn't necessarily mean that they would decline an online payment that took you into the red (or if they did, that they wouldn't charge you for bouncing the payment).
    So not what the OP is asking for.

    OP is coming across as a bit of a conspiracy nut who's looking for a unicorn, so no one will be able to provide what OP is looking for.

    I don't recall proposing any conspiracies, and as it happens I already have a unicorn.  It just happens to cost me about £35 a year and I want to know if I can get one cheaper elsewhere.
    I never said you did propse any. I said you're coming across as one. Ie all the paranoia around smart phone apps & credit cards. There's a ton of easy options, but your reasons for rejection are conspiracy-esque
  • RondoRondo Forumite
    9 Posts
    First Post
    Forumite
    ZeroSum said:
    Rondo said:
    ZeroSum said:
    ZeroSum said:
    Just pick any high Street bank & just don't apply for overdraft. I've got loads of accounts & none of them have an overdraft

    They may not have an agreed overdraft, but it doesn't necessarily mean that they would decline an online payment that took you into the red (or if they did, that they wouldn't charge you for bouncing the payment).
    So not what the OP is asking for.

    OP is coming across as a bit of a conspiracy nut who's looking for a unicorn, so no one will be able to provide what OP is looking for.

    I don't recall proposing any conspiracies, and as it happens I already have a unicorn.  It just happens to cost me about £35 a year and I want to know if I can get one cheaper elsewhere.
    I never said you did propse any. I said you're coming across as one. Ie all the paranoia around smart phone apps & credit cards. There's a ton of easy options, but your reasons for rejection are conspiracy-esque

    OK.  Well, bye then.
  • p00hsticksp00hsticks Forumite
    11.9K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Forumite
    ZeroSum said:
    ZeroSum said:
    Just pick any high Street bank & just don't apply for overdraft. I've got loads of accounts & none of them have an overdraft

    They may not have an agreed overdraft, but it doesn't necessarily mean that they would decline an online payment that took you into the red (or if they did, that they wouldn't charge you for bouncing the payment).
    So not what the OP is asking for.

    OP is coming across as a bit of a conspiracy nut who's looking for a unicorn, so no one will be able to provide what OP is looking for.
    Fair enough - but my comment was also directed at those who think that just because they don't have an arranged overdraft it's not possible for them to go overdrawn.
  • SensorySensory Forumite
    497 Posts
    Part of the Furniture 100 Posts Name Dropper
    Forumite
    Wise is probably the best option.

    https://wise.com/gb/card/
    https://wise.com/help/topics/6Tme4V2z9ONNzQMeqJpcVi/wise-card
    Rondo said:
    Band7 said:
    Rondo said:.
    Band7 said:

    This appears to be a somewhat irrational requirement, as app security is superior to online banking
    People keep saying this, but I don't see any particular reason to believe it without an authoritative technical source. 
    Plenty of authoritative technical discussions about this available on the internet
    I've not yet found any that convinced me to give up my suspicion.  The main issues I see are that I'm far more likely to lose or misplace my phone than my PC, and two factor authentication seems a lot more secure when the auth code is sent to a separate device than the one I use to access the account (I'm happy to use my phone for 2FA for online banking, I am not happy to allow it to have access to my actual bank account).

    Also, in general I am not inclined to trust technology that I don't have at least a basic understanding of on a technical level.  I build windows applications and secure web applications for a living, so I understand the security risks there well enough to be comfortable with them.  I don't particularly know anything about Android or phone hardware.
    With your technical skillset, it wouldn't take long to write an app for a phone as a learning experience to grasp mobile security to a degree more than any average user. Perhaps a password manager would be an interesting project with practical benefits to you.
Sign In or Register to comment.
Latest MSE News and Guides

Energy Price Cap change

Martin Lewis on what it means for you

MSE News

Best £1 you've ever spent?

Share your most impressive bargains

MSE Forum