Stoozing an overdraft.
Posted: Sun Mar 06, 2016 1:04 pm
Hey all, new here and need some help.
I was wondering if it was possible to stooze an overdraft?
I'm an apprentice so i'm pretty sure i could get a student account offering good overdraft rates, one like this:
https://www.co-operativebank.co.uk/stud ... t_11012016
My question is can I take the £1,400 that they are offering and stick it into a high interest current account for a year (like Lloyds), picking up the interest then paying their £1,400 back at the end of it.
Would i get charged for this, or do I have to pay them back monthly?
Thanks
I was wondering if it was possible to stooze an overdraft?
I'm an apprentice so i'm pretty sure i could get a student account offering good overdraft rates, one like this:
https://www.co-operativebank.co.uk/stud ... t_11012016
My question is can I take the £1,400 that they are offering and stick it into a high interest current account for a year (like Lloyds), picking up the interest then paying their £1,400 back at the end of it.
Would i get charged for this, or do I have to pay them back monthly?
Thanks