High earners

[MarillionFan]

Not when it's £100,000.

Dimprawn is that you?

[Spacecadet]

I accidentally exceeded my overdraft the other day. I phoned the bank (first time in years) and I was put through to a very helpful chap who waived the penalty charges and increased my overdraft facility by another grand

For me my overdraft facility is a useful and necessary buffer for the monies that come and go in my account. I'm not sure I 'rely' on it as such, but it is certainly very useful. One thing I did notice was that I was clearly given some form of preferential treatment when I phoned my bank.

There are benefits to being a contractor

WHS

It's quite easy to run the "bill paying" account down. An overdraft facility makes sure they are still paid

Anyway - the article is just a marketing piece by Experian. Take with a pinch of salt

[craig1]

I aggressively use my overdraft (£5000) as I have an interest free deal for its use. It also has a £1000 buffer meaning if I'm over-aggressive or get an unexpected extraordinary blll that I have a fail-safe to ensure bills get paid. I think I've only been in the black for more than a few days in a row once in 2011 so far.

This way, I can keep my cash elsewhere where I can get better than the 0.1% current account interest rate my bank offers for current accounts with under £10,000 .