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Has anyone actually got more then one overdraft? watch

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    Does anyone here have more then one student overdraft?

    If so, who are they with?

    It annoys me when banks claim you can only have one, there is no legal backing for that, and it makes me want to open them all :p:
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    Jesus, how much debt are you in?

    Don't you get like £2500 interest free overdraft with Natwest.
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    (Original post by Kevin J)
    Jesus, how much debt are you in?

    Don't you get like £2500 interest free overdraft with Natwest.
    No, £1250.

    There is no reason you can't open other banks, I have friends who have done it. I woudln't advise it though. Who wants to be in more debt than they have to, anyway?
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    Yes, you can have more than one overdraft with different banks just like there are more than one threads on this topic
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    (Original post by Kevin J)
    Jesus, how much debt are you in?

    Don't you get like £2500 interest free overdraft with Natwest.
    None
    I'm not going to open them all, but even if I did, that doesn't mean I'd max them all out and drown in debt. I do have a brain.
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    (Original post by Steeps)
    Yes, you can have more than one overdraft with different banks just like there are more than one threads on this topic
    I know. I just wondered if anyone had actually done it.
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    Barclays and Halifax myself, Bought my car and maintained it with it, might aswell as it's interest free whilst the cash I was going to use sits in an ISA.
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    You can have as many overdrafts as you like, what banks usually mean is interest free overdrafts which come with student accounts - these you can generally have only one of. It doesn't matter whether there is a legal backing for it - the bank as with any other company do not *have* to give you an account.
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    You can have as many overdrafts as you like, interest-free or not.

    You may find however, that each bank has a policy stating that you should only hold one student bank account with or without an overdraft facility.

    Bear in mind that banks have the right to request you to pay back your overdraft in full upon notification, a suitable amount of time in advance (something like 40 days?), as stated in your account's Terms & Conditions. If they find out that you have a student account elsewhere, there's nothing really to say that they can't cancel your overdraft.
 
 
 
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