I’ve been told that it has to do with the banks ‘coursing’ information that they hold on you as a customer. Is this true? How exactly does it work? Do they share information with other banks in this respect? Do you run the risk of being refused an overdraft if a bank credit checks you and see’s that you have too many other overdrafts?

By: Keith W

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I have just activated an overdraft of £100 on my Halifax bank account – but I was just wondering, how do I pay it back once I have used it? Does it just come off automatically each month?

E.g. if I draw out the full £100, when I get paid the next month will it just automatically take the money out of my account? ?

By: Jennifer L

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