Can you transfer overdraft to a loan?
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gerrie
Apprentice
Joined: 28 Oct 2004
Posts: 9
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 Posted: 11/21/07 - 10:07 Post subject: |
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| I have recently opened my first bank account. Since I have a job, with very decent salary, I got a pretty good overdraft. It seems to me that the sum is not bad, and, as I can live without that money, I was thinking to transfer it. It looks to me like the loans would be a good place for it, but I am simply not sure if that is possible at all. Thanks for any suggestions. |
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hillyer
Apprentice
Joined: 07 Jul 2006
Posts: 8
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| Posted: 12/21/07 - 00:18 Post subject: |
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| Having a large overdraft, or at least large enough to think about moving it somewhere else, can be a good thing really, although sometimes people mess up that kind of situation. That is why you have to be very careful where you transfer it. It is your money and you can get it anywhere you want, but be sure to do it carefully. There are people who are investing with that money. Some transfer it to savings, while others tend to use it for paying some debts they have towards the bank. In any case, what you ask for is possible. I wish you best of luck. |
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