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Can you withdraw cash if you have a overdraft facility?
Kaynem
Posts: 107 Forumite
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:
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:
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Comments
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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.:oCurrent Debt £38,000:o
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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.Time is a path from the past to the future and back again. The present is the crossroads of both. :cool:0 -
Maybe the person's overdraft is interest-free (i.e. student account).0
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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!0 -
Assuming its one of the Premier accounts, dont forget that you will have to pay in £500 a month to avoid the underfunding fee.0
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