Question for any Barclays lending staff

Mark7799

Just wondering something about the Barclays personal reserve facility..

If Barclays offer me a personal reserve of £1,000 on my account, does this mean that if I asked for a 'proper' case of need overdraft facility, I could expect this to be approved to the same level?

Extant

It's measured on the same risk profile, but I think they may be assessed slightly differently. Normally, if you applied for an overdraft and were approved, your immediate lending limits for loans would refresh and drop down. As far as I know this is not the case with reserve lending. Someone who works in a branch might be able to elaborate a little more.

If you're after a £1000 overdraft, the best thing to do is to go to a branch and ask to see your limits screen. It'll tell you exactly what you're "pre-approved" for. I guess telephone banking might tell you as well, if you asked.

Mark7799

Thanks for that. I have no great need at the moment but I was trying to make sure I'm getting the best use of facilities. I have an o/d limit and was given a reserve on top. I was wondering if I could get the max o/d limit and no reserve to minimise charges just in case of "accidents" on my account.

Extant

Honestly, just go in and ask. Unless you come across some old dinosaur from the days when you weren't supposed to show the customer their limits, they should be more than willing to show you.

Then you can just ask for the most that we'll give - since it won't cost you anything unless you're using it, and then you can just get the reserve turned off then and there.

gazza975526570

If you have online banking it shows you the max overdraft limit they will currently provide - think this only works in normal office hours

leviathan

re the pre-approved limits screen. When I enquired at Natwest they said I was pre-approved internally for an overdraft but that they would still do a credit check on me anyway.

Do you know if that is the case at barclays?

It sounds a little odd to pre-approve if further approval is needed. Tho assume they are protecting themselves from what I may have been doing outside of our relationship.