How big is your overdraft?

£200 for me, I use it as a bit of a buffer zone. Don't see why people are in so much debt because of their overdrafts, it's not like you really need them :confused:
 
[TW]Fox said:
I dont understand why some of you people have so little willpower and so little financial nous that you have to ask for an overdraft to be taken away from you becuase you cant trust yourself. What are you, 15?
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That's a fair point Fox, but some people don't really keep an accurate track of their spending and get themselves into all sort of bother..

An overdraft should really be used as an emergency "buffer" not as an extra borrowing facility, which is what people see it as. Before I had the the "one" account, I never went OD except on one occasion.. And this was when we had to pay for some building work but our savings hadn't been transfered in time. The OD served it's purpose as a temporary bridge.

I also wonder why people worry about having overdrafts yet are motgaged up to their eyeballs :confused:
 
£0 for me, Asked for it to be taken away the last time I sorted out all my bank accounts which was just over a year now and I have actually been a lot better off without it.

Just need to get rid of the rest of my debt now
 
Don't have one at the moment, when I upgrade my account I can get one for £200. Though I don't need it , cba to pay £7 a month for something I have no need.
 
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Premier said:
£0 for me, Asked for it to be taken away the last time I sorted out all my bank accounts which was just over a year now and I have actually been a lot better off without it.

Just need to get rid of the rest of my debt now
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So you accidently go overdrawn.. then the bank charge you a fee for Unauthorised borrowing.. Isn't it better to have some kind of buffer and only pay for the interest?
 
I've got two accounts both with £1000 overdraft.

One account is at about £0 and the other about -£500, should really think about taking the overdraft limit down but I'm always a little worried just incase something big comes up!
 
No idea what my limit is and I've got even less idea when I last used it. Paid off my student overdraft within a couple of months of starting work about 8 1/2 years ago and as far I can remember I haven't used my o/d since.
 
West said:
Just out of interest, I wondered what people consider 'too much'

And is it true that banks arent allowed to charge you for them anymore? I have a £200 which I went about £150 into last month...
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No,

Banks CAN charge you for having an overdraft facility.
 
dirtydog said:
I would say that it is impossible to know that you will never need to use your overdraft. The only exception to that would be if you kept a lot of money in your current account at all times, to cover all eventualities.
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I have more than one. ;)

At this moment in time, I don't require an overdraft because I hardly have any outgoings apart from my car and the odd weekend out. I just don't believe in borrowing money and I hate being in debt. If I wanted to, I'd get a Credit Card. :)
 
£1,000 interest free (student acc). I'm pretty much in it all the time because I live a life of luxury, but doesn't bother me. As long as I'm not in it when I graduate then it makes no difference..
 
£2200 0% overdraft.

Regularly goes about £2000 overdrawn by the end of each month, but then into the black at the start of the next month.

Graduated 2 years ago now, but my account is still a normal student account. *whistles*
 
Didn't know what mine was so I've just had a look and it's £2500. Best not tell the wife or she'll be off shoe shopping!
 
Mines at £1300 now.

It was at £2000 but I made them decrease it buy £100 a month for a year.

I'm currently right at the limit which is a bit annoying.

Did my bank charges yesterday, I'm owed £2200
 
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