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Natwest interest-free overdraft, have they forgotten me? watch

    • Thread Starter

    Hey all, I graduated in 2012 and as my Natwest student account became a graduate account - I became eligible for the tiered interest-free overdraft that I'm sure many people are familiar with.

    For those that don't know, its up to £2000 interest free in your first year after graduating, followed by £1000 in your second year and finally £500 in your third.

    Anyway, In July 2013 I received an email from Natwest saying that the interest-free part of my overdraft would be reducing to £1000 as expected, then last year I received a similar email in September 2014 telling me that it would drop to £500 in October 2014.

    Anyway, here we are in November 2015 and I still haven't received an email saying that the interest-free part of my overdraft is changing (as it should be completely gone now).

    I actually went into overdraft (just £200) for a couple of days before payday last month and nothing has appeared on the 'pre-advice of interest and charges' section on my account.

    Is there any chance that they've forgotten me and that I've essentially got away with having a £500 interest-free overdraft from now on?

    OR is it the case that you have to be within overdraft at the end of the month to incur a charge for interest? and that if you're dipping in and out of it just before payday it won't make any difference?

    I'd certainly rather dip into an interest-free overdraft than ask my parents to borrow a couple of hundred quid, pay it back and have to ask again!

    you might get charged for that next month depending on when the charging period ended
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