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Santander Student Account

With the Santander student account are you able to use the overdraft as soon as you open the account? Without putting any money in?
Original post by David B
With the Santander student account are you able to use the overdraft as soon as you open the account? Without putting any money in?


Yeah, as soon as the account is full opened you can do whatever you want with it. You can even go up to the cashiers with 2 forms of ID and withdraw the lot out,lol. Obviously the overdraft is subject to a credit check.
Reply 2
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David B
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Original post by SloaneRanger
Yeah, as soon as the account is full opened you can do whatever you want with it. You can even go up to the cashiers with 2 forms of ID and withdraw the lot out,lol. Obviously the overdraft is subject to a credit check.


That's good because I'll be starting university without the loan for a few days and it'll be useful to use the overdraft during this period.

Also when you go open an account can you use A provisional driving license as ID?
Original post by David B
That's good because I'll be starting university without the loan for a few days and it'll be useful to use the overdraft during this period.

Also when you go open an account can you use A provisional driving license as ID?


You need two proofs provisional and something else like a bank statement. It depends if your a verified customer on the system, if your an existing santander customer its different AML checks. If you are then provisional is fine and of course proof your a student.
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Original post by SloaneRanger
You need two proofs provisional and something else like a bank statement. It depends if your a verified customer on the system, if your an existing santander customer its different AML checks. If you are then provisional is fine and of course proof your a student.


Thanks I'm glad I will have use of the overdraft as soon as my account is setup, are you with Santander?
Original post by David B
Thanks I'm glad I will have use of the overdraft as soon as my account is setup, are you with Santander?


No i use to work for them, selling this stuff,lol. Its a good bank to be with though.
Original post by SloaneRanger
You need two proofs provisional and something else like a bank statement. It depends if your a verified customer on the system, if your an existing santander customer its different AML checks. If you are then provisional is fine and of course proof your a student.


Two proofs? So just a passport won't do? I don't have a provisional ;_;
(edited 9 years ago)
Original post by brownsugar-xx
Two proofs? So just a passport won't do? I don't have a provisional ;_;


Passport should be fine on its own, banks are just funny with provisional licenses. They will just check it with UV, before the credit check and take a photocopy of it. He was looking to take money out as soon as he opens it, so he would have no debit card as proof of signature. Therefore he needs two forms of ID, the counter without ID can give up to £50 at discretion over a £1000 usually you have to give notice.
(edited 9 years ago)
Original post by SloaneRanger
Passport should be fine on its own, banks are just funny with provisional licenses. They will just check it with UV, before the credit check and take a photocopy of it. He was looking to take money out as soon as he opens it, so he would have no debit card as proof of signature. Therefore he needs two forms of ID, the counter without ID can give up to £50 at discretion over a £1000 usually you have to give notice.


Ah, okay thanks for clearing that up :smile:
Reply 9
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Original post by David B
With the Santander student account are you able to use the overdraft as soon as you open the account? Without putting any money in?


You have to put £500.00 in your Account for it to unlock the overdraft which can take up to 14 days.
Original post by OllieDS
You have to put £500.00 in your Account for it to unlock the overdraft which can take up to 14 days.


Actually that is to increase the initial overdraft limit. I believe the initial overdraft limit is £250, which is accessible prior to depositing £500, into the account.
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Original post by MrEFeynman
Actually that is to increase the initial overdraft limit. I believe the initial overdraft limit is £250, which is accessible prior to depositing £500, into the account.


£250 will be enough to last me a week at university until the loan comes through. How do you know how much overdraft you have? Does it mention it on the cash machine screen? Or bank statements?
(edited 9 years ago)
You are given an initial overdraft limit of £250 and once you have deposited the mandatory £500 into your account the limit is increased to £1500. The limit is increased instantly if your student loan is paid directly from Student Finance into that account. However, if you deposit the £500 yourself it can take up to 14 working days.
Reply 13
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Original post by Technetium
You are given an initial overdraft limit of £250 and once you have deposited the mandatory £500 into your account the limit is increased to £1500. The limit is increased instantly if your student loan is paid directly from Student Finance into that account. However, if you deposit the £500 yourself it can take up to 14 working days.


Oh thanks, how can you tell the maximum overdraft on your account? Does it mention it anywhere on the Cash machine or statements?
Original post by David B
Oh thanks, how can you tell the maximum overdraft on your account? Does it mention it anywhere on the Cash machine or statements?


When you go to an ATM to check your balance it would say for example:
Current Balance: £0.00
Available Balance: £1500.00

Your overdraft limit is also stated on the statements.
Reply 15
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Original post by Technetium
When you go to an ATM to check your balance it would say for example:
Current Balance: £0.00
Available Balance: £1500.00

Your overdraft limit is also stated on the statements.


Thanks very much +Rep

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