Good Overdraft

I WANT an account with a good overdraft. A minor price war is going on for borrowers – but only on agreed or authorised overdrafts. If you dip into the red without asking permission then you will be stung with super-high interest rates and penalties. So always tell your bank if you think you are going to go over your existing overdraft limit, even for a matter of days. Extensions can normally be agreed on the spot to save you the huge fees. Best-buy overall accounts with decent overdraft rates and good terms for when you are in credit change all the time. But Moneyfacts tips Alliance & Leicester, Coventry building society, Halifax, Nationwide, Lloyds TSB and Cahoot for general good value. Experts say that if your current overdraft deal costs more than 1.25 per cent a month or has an APR of more than around 15 per cent you can almost certainly do better by shopping around. Check the latest overdraft best-buys at www.moneyfacts.co.uk.