NatWest Student Account - 2nd Year Overdraft

oceanscape

My son is just going into his second year of uni, but his NatWest student account overdraft is still £1250. Does he need to call them and request for it to increase to £1400 or does it just take a while for them to update it? Is he eligible for the new £1400 overdraft even though he had a couple of returned direct debits and his account went overdrawn in the last year?

Thanks!

missgiggles2008

Hiya, I graduated two years ago and still have my natwest account. As long as it stays under £500, for me personally it is interest free until next summer.

In your son's case it should of gone up i think. I would phone the bank or make an appointment and go in...They are quite good with students and have always found them to be quite understanding. When i graduated they offered a £10k loan at a reduced 6.9% APR - i kindly declined the offer!

If you don't get much luck with the phone i would go in personally - they want to keep their customers remember!

natweststaffmember

oceanscape wrote: »

My son is just going into his second year of uni, but his NatWest student account overdraft is still £1250. Does he need to call them and request for it to increase to £1400 or does it just take a while for them to update it? The increase is not automatic and needs to be applied for.


Is he eligible for the new £1400 overdraft even though he had a couple of returned direct debits and his account went overdrawn in the last year?

Thanks!

The only issue the bank would have had was if he had had DD's bounced this year and using his account during the summer(the two biggest causes of a student overdraft being declined). If he doesn't have those factors then he should be find to go into a branch/calling the bank and applying. It would take affect, if agreed, the following working day.

oceanscape

natweststaffmember wrote: »

The only issue the bank would have had was if he had had DD's bounced this year and using his account during the summer(the two biggest causes of a student overdraft being declined). If he doesn't have those factors then he should be find to go into a branch/calling the bank and applying. It would take affect, if agreed, the following working day.

The DDs bounced about 4 weeks ago, so in the summer (he paid a cheque into the wrong account without realising it leaving insufficient funds for two direct debits - all the money was moved to the student account the very next day). Would you still suggest he applies or is it pretty unlikely it will be approved because of this?

natweststaffmember

oceanscape wrote: »

The DDs bounced about 4 weeks ago, so in the summer (he paid a cheque into the wrong account without realising it leaving insufficient funds for two direct debits - all the money was moved to the student account the very next day). Would you still suggest he applies or is it pretty unlikely it will be approved because of this?

I think he should apply even though it might potentially have an affect on it.

Stardust

I went in a few weeks ago when I received my student finance letter. I showed it to the lady on the info counter (not the cash counter) who looked up my details via debit card and then upgraded it there and then, ready to go the next day.

oceanscape

Just incase anyone was wondering.....there was no problem at all. He phoned telephone banking and they upgraded it to £1400 there and then.

Thanks for all the advice.