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Just been told my overdraft is 'up for review' watch

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    hey,

    I've just been to the back to get my student account extended after I changed course and am at uni a year longer than I had originally told HSBC I would be.

    The guy seemed very reluctant to extend the account for another year, and even told me that in August my overdraft will be 'up for review'. I asked what that meant, and he said that they might take it off me!!!!
    Now, i've just seen a thread on here that said "i've got £1000, how should i spend it?" - i wish i were in such a position, but I need mine to pay the bills - especially after being at uni for 4 years!

    Anybody else been in such a position? Obviously they might not take it off me, but for some reason I got the impression they certainly might. In which case i'm screwed, and my only hope would be to be able to open a student account with another bank, get an overdraft, and transfer the money. And obviously close my account. tbh, can't believe it - opened my HSBC like 13 years ago and its been my main account ever since. Great way to treat loyal customers!
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    Has no one told you that we are in a recession?

    Banks have realised it's time to start being careful with money...
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    obviously, but its not like students ever have any money. and its only another year. they'll still post massive profits. i wont.
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    (Original post by Marksweb)
    obviously, but its not like students ever have any money. and its only another year. they'll still post massive profits. i wont.
    You do realise that an interest free overdraft is a privilege, not a right... right? The bank is doing you a really big favour for providing you with it for this long. Usually these reviews are nothing but an informal chat about your overdraft. If you're asking to extend it due to your uni tuition lengthening, they just want to make sure that the limit to the overdraft is in line with what year you're in.

    I doubt they'd take it off you. At worst, they'll just apply an interest rate to it.
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    (Original post by Mad Vlad)
    You do realise that an interest free overdraft is a privilege, not a right... right?
    ha, yeah.

    thanks for the info

    it just came as a bit of a shock, thats all.
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    They extended my friends no problem. She made an appointment with a personal banker and told them she needed an extra three years, and got them 2 hours later. They even increased her limit slightly. They'll be fine as long as you don't go over and something is paid in every now and again.
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    yeah i paid in a cheque today i'd been waiting on for a while, so my balance just got a 1k boost.
    thanks for the info, makes me feel a little more optimistic
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    If they take your overdraft off you could you not close the account and open a student account else where? I know it will be a lesser overdraft but its better than nothing.
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    (Original post by impervious)
    If they take your overdraft off you could you not close the account and open a student account else where? I know it will be a lesser overdraft but its better than nothing.
    Yeah, if it comes down to it that's what I'll be doing
 
 
 

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