What the most overdraft i can get and by which bank

Pay your overdraft on time. So they will increase it. I started with ?300 and after 6 months its ?2500

Hi ollych and welcome to the forum.

?150 a month seems a high penalty for overdraft charges ... out of interest, how much are you in overdraft? I would suspect changing banks may help but you will have to have a clear account with your present bank and from the brief info you give, I suspect that is unlikely to happen. Asking the bank to increase your overdraft is NOT going to help as that just exacerbates your debt situation .... borrowing someone else's money when you are already in debt is not the way to go. Frankly, I would make an appointment to see someone at the bank and ask for advice on the situation and of course complain about the excessive and penalising fees. They may offer you a personal loan to clear the overdraft ( banks love doing that ) and while I would never support that route, I suspect that it will be cheaper than ?1800 a year in fees. But of course the real answer is to try and live within your means and and never need an overdraft again .... easier said than done I agree.

But do go to your bank and complain about the excessive charges and ask for advice!

I had a situation a couple of years ago where I had a large overdraft and could not get into the black even after my wages went in. I opened a new account and closed the debt account. They agreed to freeze the interest and I am now paying them back. I am so happy I did that!

I now haven't had an overdraft for almost 2 years and I won't have one if I can help it.

Overdraft facilities as in "authorised overdraft" is normally an agreement from the bank allowing the customer to overdraw funds beyond what they actually have available at the time, but it is anticipated that regular income from wages,salaries or other regular income into your account will be available within an agreed timeframe which will reduce the debt and keep the overdraft within the Agreed authorised amount. It is usually a reflection of the amount which goes in every month e.g.Like you could have an authorised overdraft which is equal to half of the amount you earn. So if your wages go up, then you can have a higher overdaft if it is agreed. It is quite sensible of the bank not to keep raising the overdraft limit if the funds going in each month aren,t healthy enough to give you a realistic chance of surviving, living, paying bills, and then pay off the overdraft.The charges for an authorised overdraft are usually fixed to a rate per day of each day you are overdrawn. ?150 a month seems exorbitant. Perhaps as Snoopy says you should make appointment at bank and get a breakdown of the costs. maybe some charges are charges on top of charges. If you are straying into UNAUTHORISED overdraft then you should seek the most cost effective way of tackling the overdraft. As Snoopy says, it needs dealt with appropriately and they should be able to advise you of best way to do this. Good luck with sorting something out.

I note no feedback from ollych on the postings to date but from real life situations I have experienced, I suspect the high monthly fees are not so much about overdraft fees but costs but more about bounced payment instructions due to lack of funds. Banks seem to 'enjoy' people being in these type of situations as they can let the system bang on every penalty charge until the customer is brave enough to complain and it's at that point that advice and help SHOULD be available.

Banks should react urgently to these type of cases and offer specific and prompt help rather than cover their backs by having a one line thread in their correspondence suggesting people seek independent advice, i.e. CAB. For many people, ?1800 a year in penalties is equivalent to two months income and needs urgent investigation. The banks need to remember that they are just as accountable as the customer!