Barclays Student Account 2009/10: We want your feedback

Former_MSE_Dan · 11 August 2009 at 6:07PM

Hi folks,

In our newly published Student Accounts 2009/10 guide, Barclays Student Additions accounts is one of our new top picks.

It offers 0% overdrafts of 'up to £2,000' for every year of study, and we're after feedback from people who have applied about what overdraft limit you are given to start with, and also whether this was upped if you requested more.

Thanks for all help in advance

Dan

Touring · 12 August 2009 at 9:54PM

I currently have a barclays student additions account. Im in my second year with the max overdraft that was allowed for a year 2 student at the time of £1250. Going into year 3 i was expecting to be able to extend this to £1500 as that was the most the account would give me at the time of me taking it. Does this new account now mean I will be able to get an overdraft of £2000 now then instead of £1500?
Getting pretty confused, sorry!

lara_naomi · 15 August 2009 at 10:45PM

I signed up for a Barclays Student Additions account today. The account was easier to set up than other student accounts, just one visit to the branch and it was all done within an hour. If you are setting up the account and wish to get the overdraft facility, remember to take two months' statements with you.

There is not £2000 0% overdraft available. It is £1000 at 0%, then another £1000 at 8.9% if you request it. However, this is apparently hard to get as a committee has to accept the request, and you need to have a good reason for needing the extra overdraft. I didn't bother. The 0% overdraft goes up by £250 per year during your course. So, I got £1000 overdraft very easily, and I think just about anyone can.

Good luck to you all!

Petlamb · 15 August 2009 at 11:13PM

er... the MSE guide info says £2k @ 0% with an additional £1k at 8.9%...

lara_naomi · 17 August 2009 at 12:56AM

Vampiric_Addiction wrote: »

er... the MSE guide info says £2k @ 0% with an additional £1k at 8.9%...

Yeah it does, but trust me that is not the case.

jd87 · 17 August 2009 at 1:08AM

lara_naomi wrote: »

Yeah it does, but trust me that is not the case.

I'd think it's more likely you were misinformed (or lied to) in the branch, than the MSE team getting their facts wrong.

JammyP_2 · 17 August 2009 at 3:20PM

From the Barclays website:

Up to £2,000 interest-free overdraft*
Apply to extend your overdraft up to £3,000 at a preferential rate of 8.9% EAR typical variable if your other funds have been used up.

Made bold by me. MSE is right the first £2k is interest free, you can add another £1k but that is charged at the 8.9% EAR.

I doubt Barclays are lying on their website.

aszczep · 22 August 2009 at 11:43AM

Just been to my local Barclays branch. They said they don't offer a £2,000 overdraft and also they wanted to reduce my current overdraft of £450 to £250 because I wanted to upgrade to a student account; they said you start with £250 and when you've had your student maintenance go through, they'll look into increasing it.

The lady I spoke with was apparently a Student Accounts Manager so should have known what she spoke about. I mentioned their website and the MSE website and then she pulled out a load of papers contradicting that. So really I don't know. Either way, I'm off to Halifax.

Felix_Machina · 27 August 2009 at 6:54PM

Applied at Barclays today, it would appear that it IS NOT A £2000 OVERDRAFT. For the first year anyway, they've given me a £1000 overdraft and it goes up to £2000 in future years at uni.

If I'd known this I would've gone for Natwest but I've done it all now, never mind.

bdawg · 29 August 2009 at 12:58PM

I've had a Student Additions account for the last 6 years and it's been £2k for the last 5 I think. I went into the branch a few months ago to ask what would happen with my overdraft when I graduated in July and was told that it'd be interest free for a year after I graduated. Now I've got a letter saying it'll be automatically switched to a regular bank account on 21st September 2009 and my overdraft will go from 0% to 19.3% EAR! Although I've had no trouble with them over the years and am fortunate enough to be able to pay back my overdraft, I wonder how many graduates who aren't able to get a job will find £2k in 3 weeks and out of principle I'm going to switch accounts.

Accendo · 29 August 2009 at 8:27PM

Yesterday set-up my student account with Barclays.
My letter of acceptance = £200 overdraft
Once £500 of student maintenance has gone in your O/D can go upto £1200 in your first year. Preceeding your first year you can get upto the £2000 shown, but obviously this all upto a credit check.

Not the biggest money upfront but I lost my passport and I was already with these guys so it worked out VERY well for me :P.

Cya money savers

Regards: RPT

Barclays Student Account 2009/10: We want your feedback

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