Switching current account despite being overdrawn?

M

marfsmal

Registered User
Messages
157
I have an AIB account with overdraft facility of 500euro and due to financial hard times I cannot clear this 500 euro altogether for another while.

Is there any way I can switch my account to Ulster Bank before I have the overdraft at AIB cleared?

I understand that you have to apply for an overdraft separately to applying to open the new account which makes me think I won't be able to move accounts until I actually clear the 500 in my overdraft. Is that correct?
 
I would say it's unlikely that they will take you on as a current account customer without doing a credit cheque.

They might allow you to open a deposit account.

Brendan
 
I opened a current a/c with ulster bank 3yrs ago when in a similar position to you, got my cheque book and visa debit card on it and chipped away and paid of the overdraft i had with ptsb at the time, I cant see a problem for you doing same.
 
I would say it's unlikely that they will take you on as a current account customer without doing a credit cheque.
Click to expand...
A credit check is not a standard process in the opening of a credit current account (unless changes in the process have recently been introduced by UB). In any event an existing OD facility will not be evident in a credit check. I don't see a problem in doing what you propose.
 
I have a solid credit record anyway so a credit check wouldn't be a problem for me. I have paid and am paying back any cent I borrowed, never left a debt unpaid.

I will take the advice from mark1 there and try anyway. You know how it is with them- you go in and ask a bank clerk and they don't know. If I just open the account,

Ideally I would like the banks to move my direct debits in the switch over but since i only have two direct debts to reorganise could I possibly manage this through cancelling and then setting up again?
 
Should'nt be a problem. Advise the companies to send you out new DD mandates & fill in with new Bank details.
 
UB current account opening procedures automatically do an ICB check.
 
wbbs said:
UB current account opening procedures automatically do an ICB check.
Click to expand...

Again, not a problem. I make my repayments and have never reneged on a debt. Well I fell behind on payments for a few months before but caught up again and the length of the arrears did not pass out the cut off point. Can't see ICB being a problem, but thanks for the info anyway.
 
You must log in or register to reply here.
Menu
Log in
Register