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How much can I get with an RBS Student Overdraft? (And how soon) Watch

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    Well, my money comes out of my bank for my accomodation and it's £400 more than I get in my maintenance loan (£1100) and I don't want to use my Grant (£900) on it as I need that for shopping and my expensive course.

    I am with the RBS and have a student account with them. I was wondering how much they would give me for an overdraft? and how soon?

    Thanks.
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    You should be set up with a £500 interest free overdraft as soon as its open as far as I know, may be wrong. Doesn't it say on their website?
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    (Original post by Jmzie-Coupe)
    You should be set up with a £500 interest free overdraft as soon as its open as far as I know, may be wrong. Doesn't it say on their website?
    I've looked but can't find anything. Do I have to go in and ask them for the £500? because no £500 has been put into my bank.
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    (Original post by Kyle3000)
    I've looked but can't find anything. Do I have to go in and ask them for the £500? because no £500 has been put into my bank.
    If your student account is live now, then it should already be in place, if I were you I would call them, most banks have 24/7 call centres now. They will be able to confirm for you.
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      I opened my RBS Student Account in 2005 and still have the overdraft limit of £1200, not £500 as some banks do. I've never used it and I don't know what the conditions are or whether or not it's all changed, but it's definitely worth looking into.
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      (Original post by Kyle3000)
      I've looked but can't find anything. Do I have to go in and ask them for the £500? because no £500 has been put into my bank.
      LOL!

      It doesn't work like that!
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      (Original post by hypocriticaljap)
      LOL!

      It doesn't work like that!
      How soon could I get it?
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      You have to go in and ask. And take proof as well - it was a bit of an effort for me. You get £500 the first term, £750 the second and I think it's £1000 in the third.
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      (Original post by Kyle3000)
      How soon could I get it?
      Literally you just go in, ask to have your overdraft facility activated, they ask how much you want. You say and then they do it for you. It goes into your account the next day. I'm with RBS too and I've never had any trouble with the overdraft
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      (Original post by Kaykiie)
      Literally you just go in, ask to have your overdraft facility activated, they ask how much you want. You say and then they do it for you. It goes into your account the next day. I'm with RBS too and I've never had any trouble with the overdraft
      Ohhh. Thank you. So I could go in tomorrow and get £500 by Friday?
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      (Original post by Kyle3000)
      Ohhh. Thank you. So I could go in tomorrow and get £500 by Friday?
      Yep You can also take money out the day you get the overdraft put on but you have to ask and it's at their discretion (because the money doesn't officially go in until midnight).

      As long as you have the student account it shouldn't be a problem
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      (Original post by Kaykiie)
      Yep You can also take money out the day you get the overdraft put on but you have to ask and it's at their discretion (because the money doesn't officially go in until midnight).

      As long as you have the student account it shouldn't be a problem
      Oh thank you. My worries are now over.

      Quick question, when do I have to pay my overdraft back?
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      Read the terms of your account!
     
     
     
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