Safcelliot
Badges: 2
Rep:
?
#1
Report Thread starter 1 week ago
#1
Hi, I have opened a santander student account and was given a £250 overdraft instantly. However I needed to use this for my accommodation deposit so I now have nothing until my student loan comes in. If I was to borrow £500 from a family member and leave it in my account for 1 day and then return the £500, would this trigger the £1500 overdraft?
And if so, how long would it take to update?
Thanks
0
reply
Miss_Tee9
Badges: 9
Rep:
?
#2
Report 1 week ago
#2
I would talk to Santander to ask if they can raise your over draft limit from £250 to £1500 if that is what you want. As your limit is only £250 atm, if you borrow £500 from family and put it in your bank, £250 would get taken for the overdraft first, and you’d have £250 to spend.
0
reply
Safcelliot
Badges: 2
Rep:
?
#3
Report Thread starter 1 week ago
#3
(Original post by Miss_Tee9)
I would talk to Santander to ask if they can raise your over draft limit from £250 to £1500 if that is what you want. As your limit is only £250 atm, if you borrow £500 from family and put it in your bank, £250 would get taken for the overdraft first, and you’d have £250 to spend.
The requirements for the overdraft to be increased just say that £500 needs to be deposited into the account and then it will be triggered. So that’s why I was asking that.
Regarding the £500, if I was to deposit it I would be then on +£250 and then to withdraw it again I would be back at -£250 (the overdraft) so it would be still okay I think, just wondering whether it triggers the increase
0
reply
Miss_Tee9
Badges: 9
Rep:
?
#4
Report 1 week ago
#4
Well then it sounds like you’ve answered ur own question tbh. If it says putting in £500 will trigger it, then i don’t see why it wouldn’t
0
reply
Safcelliot
Badges: 2
Rep:
?
#5
Report Thread starter 6 days ago
#5
(Original post by Miss_Tee9)
Well then it sounds like you’ve answered ur own question tbh. If it says putting in £500 will trigger it, then i don’t see why it wouldn’t
The overdraft was increased today so only took 1 day thankfully!
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest
My Feed

University open days

  • Regent's University London
    Postgraduate Open Evening Postgraduate
    Thu, 19 Sep '19
  • Durham University
    Pre-Application Open Days Undergraduate
    Fri, 20 Sep '19
  • Loughborough University
    Undergraduate Open Day Undergraduate
    Fri, 20 Sep '19

What's your favourite genre?

Rock (203)
23.52%
Pop (214)
24.8%
Jazz (33)
3.82%
Classical (48)
5.56%
Hip-Hop (166)
19.24%
Electronic (60)
6.95%
Indie (139)
16.11%

Watched Threads

View All