Monzo switch with outstanding overdraft

Hey. I am considering a full switch to Monzo however, I have an outstanding overdraft balance with Santander. Any idea how this would work? Would I have pay this off before the switch? Also, do direct debit payments get rounded up? with the pennies going into the coin jar like with debit card transactions?

Welcome to the community :slight_smile:

Direct debits aren’t rounded up.

Hope that helps!

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I’d disagree, I’d say you can switch and they can not stop your switch, you could then ask to set up a payment plan to clear off the overdraft, but it may be best to explain your going to switch and ask for a payment plan.

You’re right, My apologies :grin:

I’ll amend my post for clarification.

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You can switch to some banks with an overdraft.

It’s up to the new bank on whether or not they will give you an overdraft.

No problem, where all here to give advice best we can :grinning:.


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If you read your Ts&Cs at Santander you’ll see that overdrafts are repayable upon demand. Santander normally gives 30 days for you to repay an overdraft if it cancels its lending to you, so bear in mind that a repayment plan may be as short as one month.


Santander will ask you to pay them back in full if you refuse they will pass your details to debt collectors