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Which bank are you with? Most UK banks will gladly allow transactions on debit cards to go through, resulting in your account being hit with overdraft fees, the
by oarsinsync 10y ago
Which bank are you with? Most UK banks will gladly allow transactions on debit cards to go through, resulting in your account being hit with overdraft fees, the size of which vary depending on whether the overdraft was pre-agreed, exceeded, or entirely unarranged.
Unfortunately, the prevailing attitude in most UK banks that I've seen is one to look to profit from transactions rather than protect their clients. Unarranged overdrafts are fantastic money makers in that regard.
- OJFord 10y agoSure, if you have an overdraft. But parent commenter's point was that if you do this with a credit card you could be completely unable to pay - if, for example, you have a single bank account with: (balance + overdraft) < minimum payment for credit card This can't happen with a debit card, since it will decline the payment, in the same way it would if you tried to use it to pay off a credit card bill of the same amount per above.
- gambiting 10y agoI'm with Barclays, and I don't have any overdraft. The only way I can go into an unarranged overdraft is if I run out of funds in between the transaction being approved and actually clearing - if I don't have enough funds at the moment when I use the card, the card just gets declined.
- makomk 10y agoAfter US banks were hit with restrictions on unwanted overdrafts, I believe they started charging fees to reject transactions due to insufficient funds too.