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

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    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
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    (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
 
 
 
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