Apologies in advance if I've posted this thread in the wrong forum but I've got a major issue with my Student Bank Account with Santander.
I first opened the account way back in November and as I'd already received the first installment of my Student loan, the initial £250 overdraft was gratefully received.
Fast forward a few months, the next installment of my student loan was paid into the account in January and has already been spent, poor budgeting I know. I was of the understanding that once £500 had been deposited into the account, the overdraft limit would be increased to £1,000 yet this hasn't been the case.
I visited my local branch sometime last week to enquire about why the overdraft limit hadn't been increased and was told that it would be looked into.
I've visited my account today to find that my overdraft limit hasn't been decreased, but it's been taken away completely so I'm now using an unauthorised overdraft. I've contacted the bank and they've stated that my overdraft limit cannot be increased because of my credit rating.
Can the bank do this at such short notice? I don't understand.
Any help and advice would be gratefully received.
same thing has just happened to me what did you do about it ?
and me!! i now have £o even though i have just paid on £250 payslip, it's going towards paying off my overdraft. I'm still a student for another year!!!!HELP