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Get the right bank account for Christmas

Tis the season to be jolly – and to bash the plastic. For many of us it's the overdraft that soaks up that extra festive spending.

So it's worth taking a few minutes to make sure you're clear on exactly what you'd pay to use an overdraft.

Quite a few current account providers offer an interest-free overdraft up to a few hundred quid. And some current accounts are designed for people who regularly use their overdraft.

Abbey's Preferred Overdraft Rate Account offers 0% interest on authorised overdrafts for the first 12 months and 12.9% thereafter.

Alliance & Leicester's Premier Direct Current Account provides a full year at 0%, then you pay 50p a day to use an authorised overdraft. The amount the overdraft costs you is capped at £5 a month.

Don't forget if you think you might exceed your overdraft limit, just give the bank a call to arrange a temporary extension. That's better than going beyond your agreed limit.