couple of questions Watch

FM08
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#1
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Regarding Overdraft facility and insurance.

Basically I got Natwest, so £500 overdraft. Am I right in thinking that I can do as I wish with that money up until the end of the year, when I guess I have to give it back - no interest whatsoever so £500 returned only. Say if I wanted to put that money into a betting account online, would that be absolutely fine? With respect I don't want/need to be lectured about whether that's right or wrong, it's my money, my decision, I would just like to know whether that's allowed.

Also another dumb question regarding insurance. I was reading some Endsleigh leaflet through the post that was saying stuff like 'cover £4,000 in tuition fees for £18' What does this actually mean? Does it mean if I decide to drop out that they'll pay mu tuition fees up to £4,000 or something?? I'm confused by these insurances quotes, what exactly are they saying? And should I get it? How important is insurance??
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hypocriticaljap
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If it is a new student account it will be interest free for 3 years and if you convert to a graduate acct at the end of your degree it will continue to be intereet free for 3 more years on a sliding scale of reduced overdraft each year.
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spikeeleon
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(Original post by FM08)
Regarding Overdraft facility and insurance.

Basically I got Natwest, so £500 overdraft. Am I right in thinking that I can do as I wish with that money up until the end of the year, when I guess I have to give it back - no interest whatsoever so £500 returned only. Say if I wanted to put that money into a betting account online, would that be absolutely fine? With respect I don't want/need to be lectured about whether that's right or wrong, it's my money, my decision, I would just like to know whether that's allowed.

Also another dumb question regarding insurance. I was reading some Endsleigh leaflet through the post that was saying stuff like 'cover £4,000 in tuition fees for £18' What does this actually mean? Does it mean if I decide to drop out that they'll pay mu tuition fees up to £4,000 or something?? I'm confused by these insurances quotes, what exactly are they saying? And should I get it? How important is insurance??
i dont see the problem .... after all it is your overdraft and like you said you can do what you want with it. try asking your bank as well

and i have no idea about the insurance with endsleigh ......
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FM08
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also i know this might seem stupid but could you like take your laptop home and then tell endsleigh it's been nicked and get a second? i'm genuinely curious. i wouldn't be doing that just asking! :thumbsup:
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Illusionary
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(Original post by FM08)
also i know this might seem stupid but could you like take your laptop home and then tell endsleigh it's been nicked and get a second? i'm genuinely curious. i wouldn't be doing that just asking! :thumbsup:
While you could try it, that would be fraud - not a good idea! :no:
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FM08
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lol i was just curious. i only asked because it seemed like such an easy thing to do. people could make money out of that potentially! don't worry i don't do fraud
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Illusionary
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(Original post by FM08)
lol i was just curious. i only asked because it seemed like such an easy thing to do. people could make money out of that potentially! don't worry i don't do fraud
Which is why insurance companies are often very careful to make checks on any potentially suspect claims! :yep:
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hypocriticaljap
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endsleigh will require a crime number, so you will need to report it to the police. Want to risk a criminal conviction as well as fraud?
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sandettielightvessel
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... and you'd have a hard job convincing the police it was stolen if there's no signs of entry - if you left the door open or something then you'd invalidate your policy.
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