Student account, can you increase the overdraft?

Hey guys.

Im in a bit of financial trouble at the moment lol. I have a student account and do any of you know whether I can persuade them to increase my od limit?

I bank with Natwest. If I can, what kind of reasons could I use?

So far, Ill just say I overspent and I just need some extra cash to do me for a few weeks till my job starts in summer (even though I dont have a job lined up for then).

Would this work?

I really do not want to take out money from my savings or ISA account as thats all going for a future project.

Thanks in advance for any suggestions or/and help.

Reply 1

Montrose

Depends whether you have alreasy got the maximum overdraft set up that they advertise for a student account. If you already have the maximum i would doubt that they would increase this.

Reply 2

Stone

ouch, didnt want to hear that.

im in my final year so do have the max. anyone else care to comment?

Reply 3

splunket

Is it actually at the 3rd year maximum though? I'm with NatWest, and when I hit my 1250 limit in my second year I had to go into the bank and specifically ask them to extend it to 1400 as I was now in my second year.

Reply 4

Fondant Fancy

You could ask them to extend the overdraft temporarily.. say until your first wage comes in. My friend is a 1st year and maxed out her overdraft, when she went to her bank to ask, they said they would extend it for a temporary period.

Reply 5

Angelharpist

Be careful: if you say you have a job lined up in the summer, they may ask for a letter confirming this. If you have money guaranteed to come in, then they'll be more likely to give you an extended overdraft. However, lying to your bank may cause them to revoke the overdraft, leaving you really really stuck :frown:

One option, one of my mates (who's with NatWest) has been a complete idiot and maxed out his overdraft but Natwest have allowed him £10 per day on top of his overdraft to survive on. Then again, he has a job confirmed for the summer so again, this is worth noting...

Reply 6

Minardi

Smile don't let you increase at all, FYI.

Reply 7

Stone

wow, thanks for your responses guys. good point about the letter angel.

maybe i could say im going to apply for the graduate student loan and ill be able to pay back the whole whole overdraft with that, then ill have the interest free loan to deal with instead.

what do you guys think about that and yes, i am at the 3rd year maximum od.

thanks again for your time in replying, really appreciate it. as of today, i have like 100 quid if that tilll i move out on the 16 of june :s-smilie:

i spend about 40 quid on food alone due to my hobby.

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