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Barclays overdraft

Hi,

I have opened a barclays student account last week and they offer a £200 interest-free overdraft on account opening.

However, they stated on their website that upto £1000 for the first year so I rang them and asked if they could increase the overdraft. Strangely enough, they asked me to state a reason to apply for an overdraft.

How is that in every other UK bank they give you the maximum overdraft whilst in Barclays you have to request one based on a valid reason.

Reply 1

PieMaster

11

As far as I remeber, they give you the full £1000 when you actually start attending (ie recieve the student loan) the £200 is just so you can get things you need before you go.

Reply 2

classy_bird

1

I don't know.....a mate of mine said she had to keep applying for increases up to the £1,000 in the first year as they only upped it in silly increments.

I've chosen them for my student account this year and when I asked the bloke in the branch "Do I just ask you to up it to £1,000" he didn't know!

Reply 3

MC

1

emin

How is that in every other UK bank they give you the maximum overdraft whilst in Barclays you have to request one based on a valid reason.

It's just their policy. Not all banks operate the same way. If they want a reason, give them one; the obvious being that you need money to stay in and live at uni, simple. Barclays as far as I'm aware, are notorious for being extremely slow in processing this sort of stuff, so make sure you get it done before you go to uni.

Reply 4

VVV1

I had to keep going in to the branch and asking for increases up to the £1000, if you get really stuck for cash they will up it to £1300.

Reply 5

classy_bird

1

VVV1

I had to keep going in to the branch and asking for increases up to the £1000, if you get really stuck for cash they will up it to £1300.

They'll up it to £1300 in the first year?!

Reply 6

emin

OP

PieMasterAs

far as I remeber, they give you the full £1000 when you actually start attending (ie recieve the student loan) the £200 is just so you can get things you need before you go.

That is what I suspected as well.

VVV1

I had to keep going in to the branch and asking for increases up to the £1000, if you get really stuck for cash they will up it to £1300.

But did you had to provide an explanation?

Reply 7

Sophdoph

1

emin

Hi,

I have opened a barclays student account last week and they offer a £200 interest-free overdraft on account opening.

However, they stated on their website that upto £1000 for the first year so I rang them and asked if they could increase the overdraft. Strangely enough, they asked me to state a reason to apply for an overdraft.

How is that in every other UK bank they give you the maximum overdraft whilst in Barclays you have to request one based on a valid reason.

Just say you are paying more for accommodation than your loan, they are only making checks and trying to stop people taking out a really big overdraft just to spend on rubbish.

I called to extend mine and have to go into branch with 2 forms of ID, they didn't ask me for any reason.

Reply 8

VVV1

classy_bird

They'll up it to £1300 in the first year?!

Yeah i looked on the web site and found that they would up it. I wasnt funded by my parents and was in difficulty and they just upped the limit. I had to phone them up but they were nice about it.

Reply 9

dobbs

17

Of course you have to provide an explanation!!! They want to know what it's for, just to cover themselves. What if you got a load of money out so that you could buy a bomb to blow up some place or something? OK stupid example....

But seriously, Barclays were fine with me. My overdraft limit was at £600 for various reasons before I started University. Half way through my first year I needed it increased to the full £1000. I went into a branch, asked them, and they sorted it out! They asked why I wanted more (obviously!) and I just stated that I needed more money to cover living and studying costs, which they were fine with. They asked me if I was intending to use the money for any illegal purposes, to buy illegal items or anything like that....the woman was friendly and was like "Not that anyone would actually say 'yes' to that!!"....and then it was sorted.

I can't see many banks just giving you the overdraft without them asking you why you want it! :rolleyes:

Reply 10

homoterror

dobbs

I can't see many banks just giving you the overdraft without them asking you why you want it! :rolleyes:

Most do. Most students are with HSBC or Natwest, and they'll all get overdrafts of >= £1000 from day 1 with no need to ask.

Reply 11

lou p lou

2

homoterror

Most do. Most students are with HSBC or Natwest, and they'll all get overdrafts of >= £1000 from day 1 with no need to ask.

yeh i automatically got a £1250 overdraft with my Royal Bank of Scotland account, it can be increased to £1500 this year but i think i have to request that

lou xxx

Barclays overdraft

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