Turn on thread page Beta

Could I get my overdraft early if I pay in £500 now [Santander]? watch

    • Thread Starter
    Offline

    6
    ReputationRep:
    I'm currently struggling at work with a zero-hour contract and sometimes don't get enough hours to pay my bills.

    I am due to start at uni in September and currently have a Santander student account, which requires you to pay in £500 each academic term to increase the overdraft and keep it increased.

    If I was to take a loan of £500 out purely to pay into the account and then pay back, would that 'trigger' my overdraft to increase so that I could start using it now, or would that not work?

    Not sure if this would be illegal either, I'm just struggling.

    Thanks
    Offline

    18
    ReputationRep:
    (Original post by lightfagami)
    I'm currently struggling at work with a zero-hour contract and sometimes don't get enough hours to pay my bills.

    I am due to start at uni in September and currently have a Santander student account, which requires you to pay in £500 each academic term to increase the overdraft and keep it increased.

    If I was to take a loan of £500 out purely to pay into the account and then pay back, would that 'trigger' my overdraft to increase so that I could start using it now, or would that not work?

    Not sure if this would be illegal either, I'm just struggling.

    Thanks
    I know with my bank (Halifax) they wouldn't open a student account for me until results day but you already have a student account with them? As you already have a student account it might be worth just calling them because the overdraft should've been applied when you opened the account
 
 
 
Reply
Submit reply
Turn on thread page Beta
TSR Support Team

We have a brilliant team of more than 60 Support Team members looking after discussions on The Student Room, helping to make it a fun, safe and useful place to hang out.

This forum is supported by:
Updated: July 22, 2017
Poll
Which accompaniment is best?

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.