Can you withdraw cash if you have a overdraft facility?

Kaynem

Silly question i suppose but just making sure.

Ive just been accepted for a £1000 overdraft with A+L and am hoping to withdraw most of that from the cash machine.

Cheers :beer:

NewbieMoneySaver**

I have a £5000 overdraft with them and you could draw it all if you go into the bank. I think the max at a cashpoint is £300/day.

dr_adidas01

Well this is my first post as have always been a lurker and never a poster.

Yes you can withdraw money from your overdraft from a cash machine, but not to sure it would let you take out the £1000 in a day as most have a limit of either £300 or £500 depending on what your limit has been set to by your bank.

I know this is none of my business, but why are you wanting to use the whole of your overdraft? Its an expensive way to borrow.

skyrider007

Maybe the person's overdraft is interest-free (i.e. student account).

Yorkshire-Lady_3

dr_adidas01 wrote: »

Well this is my first post as have always been a lurker and never a poster.

Yes you can withdraw money from your overdraft from a cash machine, but not to sure it would let you take out the £1000 in a day as most have a limit of either £300 or £500 depending on what your limit has been set to by your bank.

I know this is none of my business, but why are you wanting to use the whole of your overdraft? Its an expensive way to borrow.

Thats what I was going to say!

KTF

Assuming its one of the Premier accounts, dont forget that you will have to pay in £500 a month to avoid the underfunding fee.