Can I withdraw from my overdraft at a cash machine?

Question

hi,

i just wanted to know if you can withdraw cash from an ATM when you're overdrawn?

hope that makes sense.

Thanks

Nick

Answer 1

Yes you can no problem if you have an overdraft you can use any ATM.

Answer 2

Yes you can!

Answer 3

Providing you have an agreed overdraft limit set in place you can take money out at any cashpoint without penalty.

The stinger is if you *don't* have an agreed overdraft - some banks refuse pointblank to dish out the money, others will allow you to take money and then a few days later send you a letter (which they'll charge about £25 admin fee for), plus un-authorised overdraft charges you would have incurred and these charges are a lot.

Best check with the bank what you're allowed to do first.

Answer 4

Is it an authorised overdraft?  If so, yes, I do that no problem.  If it is over your limit, I don't know, I have done it a number of years ago, but not hit my limit for a while, so I don't know.

Answer 5

If you're over your limit or you have no overdraft, it depends on the bank whether they'll let you withdraw money.  HSBC and Barclays generally will, although it depends with HSBC what kind of customer you are!

Natwest won't let my husband go even a penny overdrawn, and will bounce direct debits if they're a couple of quid over.

Beware of the charges though! If you're going to be charged per transaction, you may as well draw out £20, rather than 2 lots of £10.