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Student Account Overdraft

Last post Sun, Sep 09 2007, 12:50 AM by joeburns. 1 replies.
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  •  Sun, Sep 09 2007, 12:50 AM

    Re: Student Account Overdraft

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    I believe on the terms of an ISA it states that the Money has to be yours. In that situation the money wouldn't be yours so you would be breaking the terms of the ISA. As they would both be with Halifax this would be very easy to detect. However you might be able to get away with it if you used a seperate company. Try Egg as their ISA offers a better interest rate than Halifax on the ISA anyway.
    • Post Points: 5

  •  Sat, Sep 08 2007, 9:08 PM

    Student Account Overdraft

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    Hi,

     I have just opened a student account with Halifax, and currently have a £1000 overdraft.  After looking at my expected expenditure over the next year, and the loans I will receive, it seems I will have roughly £1000 more than I need.  Is it ok to transfer my £1000 overdraft (perhaps in installments) to my Halifax ISA to earn more interest?

     Thanks,

    Nick
    • Post Points: 20