The phrase "a overdraft facility" is not correct in written English.
It should be "an overdraft facility" because "overdraft" begins with a vowel sound.
Example: "The bank offered me an overdraft facility to help manage my cash flow."
Alternatives: "a credit line" or "a loan facility."
If you need a current account with an overdraft facility, Barclays Additions can seem attractive as the rate of interest charged is just 12% for overdrafts above £250.
Julie Waddell: If you have contracts with your suppliers, a bank would look at an overdraft facility, which could help with the peaks and troughs as long as the income is guaranteed to come in at some point.
I graduated in 2000 from University College London with a physiology and pharmacology degree, and an overdraft facility pushed to the extreme!
If you have a packaged current account, or you use an overdraft facility, this is particularly important because you could be paying hundreds of pounds in unnecessary fees and charges.
But the bank has stepped in to provide an overdraft facility and we've been given a small business loan".
"When we took over, the club was over their overdraft facility by quite a significant amount, so we don't have an overdraft facility at the football club any more.
Today, our financial situation is this: we are £5m in debt, we have an overdraft facility of £2m, we are operating with an annual deficit of circa £600,000 and we need to replenish the original endowment by about £7.5m.
Of the 61m current accounts held in the UK, more than 30m have an overdraft facility, and in 2011 banks and building societies made £1.7bn, or a third of their current account revenue from people borrowing money in this way.
They do not have an overdraft facility.
However, it doesn't currently have an overdraft facility.
As such, the account will not pay interest on credit balances or have an overdraft facility.
