UK bank with no overdraft scam?

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eurgbp
eurgbp Posts: 14 Forumite
edited 17 October 2019 at 7:49AM in Budgeting & bank accounts
Are there any banks in UK without overdraft scam?
All I want is if balance is zero then transaction is declined by bank. End of story.
These overdraft loans are quite scammy and sick
quite rly:money:
«1345

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  • colsten
    colsten Posts: 17,597 Forumite
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    Overdrafts are neither a scam nor sick. You are perfectly entitled not to use an overdraft, and most people choose not to, as it is one of the most expensive ways of borrowing money. Many do have an overdraft facility, though, as a safety net and precaution against vital bills not getting paid in time.

    You are right that it is difficult to find a bank which will absolutely not let you go overdrawn, even if your gas or electricity or other important bill needs paying. You could try Natwest, they have something called overdraft control, or Starling, who don't grant you any overdraft by default.
  • BoGoF
    BoGoF Posts: 7,099 Forumite
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    Scammy and sick? Get a grip.

    Simple solution.....don't spend what you don't have. You can use a calculator?
  • Nick_C
    Nick_C Posts: 7,459 Forumite
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    eurgbp wrote: »
    Don't tell me what to do and how to do it
    Keep your useless opinion to yourself

    So only NatWest has got this no automatic loan feature?
    Can I opt out from arranged and unarranged loans?

    I was going to give you some information, but given your rude response to the poster above I'll leave you to do your own research.
  • PRAISETHESUN
    PRAISETHESUN Posts: 3,723 Forumite
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    Try a basic current account? https://www.moneysavingexpert.com/banking/basic-bank-accounts/
  • sal_III
    sal_III Posts: 1,953 Forumite
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    BoGoF wrote: »
    Scammy and sick? Get a grip.

    Simple solution.....don't spend what you don't have. You can use a calculator?
    OP wants to do exactly that - bounce any transactions if there is insufficient balance.

    Arranged overdraft is OK, un-arranged overdraft is a bit scammy, especially for people coming from other countries where there is no such facility active automatically and they expect that when you run out of cash and someone tries to withdraw money the transaction will just bounce.

    Utility companies are not going to cut your supply because your bill was paid 3 days late, on the other hand banks will saddle you with massive charges for going into un-arranged overdraft for 3 days.
  • boo_star
    boo_star Posts: 3,202 Forumite
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    eurgbp wrote: »
    Don't tell me what to do and how to do it
    Keep your useless opinion to yourself

    So only NatWest has got this no automatic loan feature?
    Can I opt out from arranged and unarranged loans?

    AIUI "Overdraft Control" won't let you go into an unarranged overdraft through spending but you'll still have to pay unpaid transaction fees for anything that gets bounced.
  • eskbanker
    eskbanker Posts: 31,076 Forumite
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    sal_III wrote: »
    banks will saddle you with massive charges for going into un-arranged overdraft for 3 days.
    Not for long they won't - the new rules on overdraft charges prevent fixed and/or daily fees for overdraft use and prohibit differential interest for arranged and unarranged facilities. These rules will be enforced from April, but some institutions are already implementing the changes....

    Interestingly, Nationwide, one of the first to react, is adopting the approach that they'll now take measures to prevent accounts becoming overdrawn, by not authorising transactions that would otherwise put accounts into unarranged overdrafts - many (such as OP) will see this as a good thing but no doubt others will object when DDs are bounced, etc.

    https://forums.moneysavingexpert.com/showthread.php?t=6034548
  • Highland76
    Highland76 Posts: 519 Forumite
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    eurgbp wrote: »
    Are there any banks in UK without overdraft scam?
    Don't you trust yourself? :rotfl:
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    eurgbp wrote: »
    Don't tell me what to do and how to do it
    Keep your useless opinion to yourself

    So only NatWest has got this no automatic loan feature?
    Can I opt out from arranged and unarranged loans?

    How rude.
    Don’t post on a public forum if you’re not going to like or accept the answers you’re given.

    One would argue that your opinions and thoughts on overdrafts are “useless”.

    Don’t spend outside your means and you won’t run into issues.

    Simple.
  • eurgbp
    eurgbp Posts: 14 Forumite
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    Why do you say this?
    You are well aware that current accounts in UK are also have unarranged and arranged overdrafts
    quite rly:money:
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