Personally (and I know some people might not agree) I think it's better to have a very small overdraft to act as a buffer rather than incur bank charges as no matter how careful you are mistakes can happen.
Skippy - i fully agree exactly with you - it is so easy to miscalculate or forget about "that small transaction" - and before you know it a returned DD - £30, plus any other daily charges !
Last edited by ginger3232 on Sat Mar 24, 2012 1:26 pm, edited 1 time in total.
I did that a while ago - I paid for something on Ebay and completely forgot about it. Nationwide bounced a DD and then charged me £15 but the annoying thing is I would have been less than £1 overdrawn if they'd paid it!
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Broke of London
I'd pay if Lloyds offered one that met my needs. But there's often a lot of guff and no substance...the Nat Wrst account sounds cool x
I have to agree, if you benefit then it's worth paying. Nothing Lloyds are offering with their Silver account is worth paying for in my opinion so happy with their classic vantage account.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
In no way am I saying that anyone supporting a small overdraft is incorrect, but 5yrs 8 months into my 6yrs iva, I have well and truly learned my lesson about credit cards and overdrafts. Having done without both for so long, I have no desire for either.
My worry is if I start with these after I've completed, I might end up on the slippery debt rd again.
Last payment made April 2012
Certificate received 1st Nov 2012
on my yorkshire bank statements i have a £25 buffer which is used before any late charges are levid.not an overdraft but a nice touch if you go over by a few pounds.never had to use it but its there
cc received 6th January 2014 now upwards and onwards
My bank account came with an overdraft and I had it removed, not sure if I'd have been allowed to keep it but feel safer without it, remove my temptation...so to speak.
I think £50 as a buffer is a fairly sensible idea. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
A buffer wouldn't be a buffer for me...I'd spend it. I'm safer without one and then paying the consequences if I slip over one month. It sucks to pay the charges but it teaches me a lesson.
