Is there a current account that won't let you go overdrawn?

GrubbyGirl_2

I am curious as to whether there is a bank that offers a current account that won't allow you to go overdrawn and would simply decline a debit card transaction (in the same way as a credit card if you don't have enough balance) rather than allow you to go overdrawn?

MorningcoffeeIV

There are none that could absolutely guarantee it, due to off line transactions.

Jami74

Chase rejects payments if there's not enough cash in the account. A few times I've been stood in the supermarket transferring from the savings account to the spending account after a failed transaction.

la531983

Jami74 said:

Chase rejects payments if there's not enough cash in the account. A few times I've been stood in the supermarket transferring from the savings account to the spending account after a failed transaction.

That's all well and good but that's an online transaction. 

I could be on a plane and choose to buy £100 of duty free perfume, the transaction would go through as its an offline one,  regardless of funds in the account. 

Rob5342

I don't think they can ever guarantee it as offline transactions (planes etc) will still go through. Also on the underground they take 10p when you first tap and take the rest the next day, so if you have £0.00 at the end of the day you could still go oberdrawn. We got our daughter a FlexOne account when she was 13 and even for that they said they couldn't guarantee she couldn't get overdrawn.

Most transactions are online so if you don't have an overdraft facility then most of the time you won't be able to go overdrawn.

Olinda99

other than the problem with offline transactions as mentioned above the one account which I am fairly sure will not let you go overdrawn is Starling i.e you can set the overdraft to slider to 0 and it will not let you go overdrawn

WillPS

Olinda99 said:

other than the problem with offline transactions as mentioned above the one account which I am fairly sure will not let you go overdrawn is Starling i.e you can set the overdraft to slider to 0 and it will not let you go overdrawn

Other than that problem almost every bank account nowadays will do the same thing.

artyboy

Visa Electron cards always required online authorisation but I believe they are being phased out - is there no equivalent replacement?

MattMattMattUK

artyboy said:

Visa Electron cards always required online authorisation but I believe they are being phased out - is there no equivalent replacement?

It will just transition to Visa Debit, but the vast majority of transactions are online now due to connectivity being far better. There will still be some, whether due to specifics of location and time, or the way the system operates, but they are few and far between. I am pretty sure that the only offline transactions I have used in the last five years is travelling on the Tube. 

fatbelly

GrubbyGirl_2 said:

I am curious as to whether there is a bank that offers a current account that won't allow you to go overdrawn and would simply decline a debit card transaction (in the same way as a credit card if you don't have enough balance) rather than allow you to go overdrawn?

Any basic bank account

https://www.moneyhelper.org.uk/en/everyday-money/banking/basic-bank-accounts

Rob5342

fatbelly said:

GrubbyGirl_2 said:

I am curious as to whether there is a bank that offers a current account that won't allow you to go overdrawn and would simply decline a debit card transaction (in the same way as a credit card if you don't have enough balance) rather than allow you to go overdrawn?

Any basic bank account

https://www.moneyhelper.org.uk/en/everyday-money/banking/basic-bank-accounts

I don't think they guarantee you won't go overdrawn though will they, just that you won't get charged if an offline transaction takes you overdrawn. Nationwide said that they couldn't guarantee that my 13 year daughter wouldn't go overdrawn with an offline transaction, but if she did they would simply freeze the account with no fees until the balance was at least 0 again.