Switching Bank Accounts

[BobbyBobBob]

I'm currently in my overdraft by about £250. I'm not going to clear it in time before my banks new overdraft charges come into effect. I have come up with the idea of switching bank accounts/opening new account to help with this.

As it stands my wife and I both have our own accounts plus a joint account. The joint account is where all the income comes in and all the outgoings go out from. All 3 accounts are with the same bank. The only account which is overdrawn is my personal account so my plan was to open this new account with Halifax with 6 months 0% overdraft and a free £100. (Ideally keeping my current account open) it clearly states on the advert for the account that you don't need a monthly income coming in to open it. This obviously suits me as the account I want to pay off the current overdraft with at the minute doesn't have any income coming in or outgoings. The only thing that comes in and out is the pocket money we each take from the joint account each month when we get paid. So it says no monthly income but reading about it in more detail you need to have a minimum of 2 direct debits. Like I said above , all our direct debits are from the joint.

Is there a way round this? I.e setting up standing orders instead of direct debits plus will the fact that there would be a lump sum of money every month (my pocket money from joint that we each take) coming in work in my favour?

Please advise.

Many thanks

[boxtops]

Can you set up a direct debit from your current arrangement into the new one for your pocket money to be moved? - that's one - then move another small one (perhaps for personal outgoings) from the other account, for the second one?

[Maydup]

Mobile phone bill? A membership fee to something? A small donation to a charity? Would all be direct debits.

Otherwise, could you not just clear the overdraft from the joint account and sacrifice your pocket money for a month or so?