Overdraft question...(Short thread!)

SideWinder · 8 Mar 2008 at 17:08

I have a £500 overdraft so i am now 'in debt' for the first time since i got to University. My loan is arriving on th 7th of April but i still need to use my debit card.

Q: I can use my debit card as per normal i assume? I don't have to stick to cash? Ie. Internet shopping and iTunes.

Q: What happens if i go over my overdraft..the card is 'rejected' or does it accept and i get charged?

gumbald · 8 Mar 2008 at 17:09

You can use as per normal, yes.

Think a transaction at the limit would still go through, but you'd get the unauthorised overdraft fee levied.

SideWinder · 8 Mar 2008 at 17:09

Thanks gumbald.

DalGurak · 8 Mar 2008 at 17:10

Yes you can use your Debit Card normally to spend money that is part of the overdraft.

As for part 2, unless it's severely over your limit the bank will normally pay it out of the goodness of their hearts, and then charge you for it.

Kristoph · 8 Mar 2008 at 17:11

Remember to keep aside some money for your prescription you need to pick up.

SideWinder · 8 Mar 2008 at 17:13

mp3kla said:
Remember to keep aside some money for your prescription you need to pick up.

/slap.

...besides as for that matter, nothing is certain. I could always post a thread about my experience.

Thread may be closed.

Dreadi · 8 Mar 2008 at 17:13

DalGurak said:
As for part 2, unless it's severely over your limit the bank will normally pay it out of the goodness of their hearts, and then charge you for it.

Tell me about it :mad:

Skeeter · 8 Mar 2008 at 17:59

if its a VISA, then there is absolutely no halting or warning of any sales that put you over your overdraft limit. It will just happen and then you will only know about it when you get a letter asking for a £30 fine.

Deiwos · 8 Mar 2008 at 18:02

SideWinder said:
I have a £500 overdraft so i am now 'in debt' for the first time since i got to University. My loan is arriving on th 7th of April but i still need to use my debit card.

Q: I can use my debit card as per normal i assume? I don't have to stick to cash? Ie. Internet shopping and iTunes.

Q: What happens if i go over my overdraft..the card is 'rejected' or does it accept and i get charged?

Q1 - Yeah, you can use it fine

Q2 - Depends. Some banks/cards allow you to go over the overdraft, but some don't. I was in the bank the other week and some guy was having it out with the woman on the desk as he thought he could go over his overdraft, but for whatever reason he couldn't and this was a problem for some reason.
A quick email/phone call to your bank would clarify this I'm sure.

Dreadi · 8 Mar 2008 at 18:04

Skeeter said:
if its a VISA, then there is absolutely no halting or warning of any sales that put you over your overdraft limit. It will just happen and then you will only know about it when you get a letter asking for a £30 fine.

plus the extra daily charge for the time its takes for the letter to get to you

steve258 · 8 Mar 2008 at 19:21

As said you can use it as normal until you reach the overdraft limit. It didn't allow me to go over the limit it just stopped all transactions.