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Changing Natwest current account to student account whilst overdrawn Watch

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    I have a Natwest current account with an overdraft of £650, and I'm currently overdrawn by about £580. I was hoping that someone who has been in this position before could tell me if I will be able to change to the student account whilst I'm overdrawn.

    I've also noticed that the student account gives you a £500 overdraft for the first term, but seeing as how I already have a larger overdraft what would happen here?
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    Your best bet is to go into branch, go to the customer service desk and speak to one of them - they'll be able to answer any questions and get you transfered.
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    (Original post by Frankston)
    I have a Natwest current account with an overdraft of £650, and I'm currently overdrawn by about £580. I was hoping that someone who has been in this position before could tell me if I will be able to change to the student account whilst I'm overdrawn.

    I've also noticed that the student account gives you a £500 overdraft for the first term, but seeing as how I already have a larger overdraft what would happen here?

    You will be able to do so. It'll work like this.

    Your current overdraft LIMIT will remain the same (£32,000 or whatever in my case)

    Your STUDENT overdraft limit will be the standard amount. By "student limit," I mean the amount that is "interest free"

    So at the times when the student overdraft limit is able to be increased, that amount will become interest free, up to the max student limit. The rest will unfortunately be payable, so you wouldn't be able to take out a massive chunk and invest/put it into savings for moneys.
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    (Original post by samba)
    You will be able to do so. It'll work like this.

    Your current overdraft LIMIT will remain the same (£32,000 or whatever in my case)

    Your STUDENT overdraft limit will be the standard amount. By "student limit," I mean the amount that is "interest free"

    So at the times when the student overdraft limit is able to be increased, that amount will become interest free, up to the max student limit. The rest will unfortunately be payable, so you wouldn't be able to take out a massive chunk and invest/put it into savings for moneys.
    Thank you for clearing this up for me.
 
 
 
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