you can get thousands out and I have done. All you have to do is ask for your daily limit to be removed temporary or permanently.
£84m overdraft!
- Thread starter Col_M
- Start date
you can get thousands out and I have done. All you have to do is ask for your daily limit to be removed temporary or permanently.
Yep very good programme, he filed for bankruptcy in the end well I would with a £40k debt with no income aswell, and I couldn’t believe you can get 4 student accounts very easily and basically have £3.5k in a few days!
Hmm 84M overdraft limit does not make you rich. It's approved liability rather than assets!
However it doesn't excuse my lack of being able to read - sorry Col
It does if you transfer all the money out of the country and then do a runner or go uk bankrupt.
Soldato
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Especially in the current climate - they've probably changed the sign off levels.
Soldato
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Is it just me or does she look a little like Piggymon?
I'm still wondering how stories like this make the news.
I'm still wondering how stories like this make the news.
Soldato
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Realistically i think i would extract as much cash as i possibly could, my current account for example doesnt like me doing >£10k/day.
Keep doing this for as long as possible stashing the cash, then finally when the bank catches up with you and/or the overdraft runs dry from the interest accumulated and withdrawals you say you cannot pay and go bankrupt.
Plan?
Keep doing this for as long as possible stashing the cash, then finally when the bank catches up with you and/or the overdraft runs dry from the interest accumulated and withdrawals you say you cannot pay and go bankrupt.
Plan?
Laundering is illegal (criminal).
Going away on holiday with your overdraft isn't (as it's an approved liability) thus they'd have to reclaim it back through civilian means.
However you'd have to watch that any investment if you try and make more money with it as the banks would attempt to reclaim from that.
Theoretically speaking, if you were to have such an interest free overdraft facility, would it not be wise to take out the £84million.
Chuck it in a savings account for a few months, then slowly but surely drip feed all the money back into your original account to pay back the overdraft but still making mucho dinero on the interest from the £xx million in the savings account? Then being able to cancel the overdraft facility and live off the millions in interest you've earned and the interest that that will earn? Thus much free money?
Chuck it in a savings account for a few months, then slowly but surely drip feed all the money back into your original account to pay back the overdraft but still making mucho dinero on the interest from the £xx million in the savings account? Then being able to cancel the overdraft facility and live off the millions in interest you've earned and the interest that that will earn? Thus much free money?
Who said anything about it being interest free?
except that you'd have no time. A quick withdraws spree and leg it might work. Months of setting up a laundering business from scratch would be far to late.