Slash your overdraft costs and get ‘free’ cash: how to get your bank and savings into shape

Switch to a better current account, revive your Isa and pick a savings best buy to make the most of your money

Authorised overdraft costs can vary dramatically. Many banks have overdraft calculators on their websites, so log on and compare what your bank charges versus what you would be charged if you took your custom elsewhere. But can you switch your current account if you are overdrawn? The answer is yes, says the Current Account Switch Service (Cass). However, you will need to agree any overdraft you require with your new bank. Alternatively, they may be able to provide facilities to help you pay off your existing overdraft.