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Can an international bank transfer use money from my overdraft?
If I make an international bank transfer whilst abroad (from my British account into the Dutch account of my new estate agents) and the amount is slightly more than the funds I have in my account, can it draw the funds for the transfer from my pre-agreed overdraft?
I couldn’t see a reason why not, but then you never know…
I’d call the bank except of course it’s the bank holiday weekend and no-one’s there!
Thanks,
Jane
As long as its within the agreed overdraft then yes.
Your "available funds" will be money in your account plus and agreed facilities.
Unfortunately as its bank holiday on Monday you can’t actually do the transfer until Tuesday at the earliest. To be precise whether or not you give them the instruction to transfer the funds now they won’t actually start to shift cash until Tuesday (and then it may take them a few days to actually do it).
As they wont do anything until Tuesday you’re probably best off leaving it until then, you be able to talk to them.
October 10th, 2009
As long as its within the agreed overdraft then yes.
Your "available funds" will be money in your account plus and agreed facilities.
Unfortunately as its bank holiday on Monday you can’t actually do the transfer until Tuesday at the earliest. To be precise whether or not you give them the instruction to transfer the funds now they won’t actually start to shift cash until Tuesday (and then it may take them a few days to actually do it).
As they wont do anything until Tuesday you’re probably best off leaving it until then, you be able to talk to them.
References :
I’m an accountant who has often transferred funds that increase an overdraft
October 10th, 2009
I would say yes because you have pre- arranged an overdraft. I have never heard of a bank stipulating how you use your overdraft. You could be sneaky and try to get this information from First Direct. They are working now.
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October 10th, 2009
id have to agree with the people above me
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October 10th, 2009
Jane,
As per previous comments. If you have an agreed overdraft and the transfer does not result you going over that agred ammount there should be no probems. If you do not have an agreed overdraft, providing you manage your account well, they wil most likely let it go through but then charge you a fee.
Hope thatis of help
Duncan
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October 10th, 2009
yes.
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