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Overdraft


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Hope someone can enlighten me... I am overdrawn by around £2,000. My wages go into the bank but don't earn enough to cover it so living off the overdraftlink3.gif. If I use my switch card to pay for bills etc does the bank charge me for this because the money comes from the overdraftlink3.gif? Hope I'm making sense! I get charged £28 per month for debit interestlink3.gif.

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Hi,

I think I'm right in saying this.

 

If you are within an AGREED overdraft limit then any payments out of the account won't get charged for although interest on the O/D will be applied.

 

If any payment takes you over the agreed limit then bank charges will apply.

 

If you are struggling with this, why not open a bank account elsewhere and negotiate with your current bank a repayment schedule

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