natwest student overdraft

kaiserwilli99

does anybody know when it expands its meant to go up each year i.e i get another £200 extra or something

also the railcard do they send a new one - straight away?

rb10

For the overdraft you have to apply for the higher amount. You can do this from the start of the next academic year (i.e. September). So if your limit this year was £1250, then you are allowed to take your account down to a balance of -£1250 (i.e. £1250 below £0), and if they increase it next year to £1400, then you'll be able to take your balance down to £1400 below £0.

The new Railcard will be sent out in June/July this year, provided you've used your account in the previous three months.

kaiserwilli99

i rang my bank they say it happens in july?

cool eh

FreheitOverture

I think in year 3 it increases to £2000, but you have to apply for it and basically tell the bank why you need it. As its a kind of loan

xfoucault_2

Natwest Student Accounts interest free Overdraft limits :

Year 1 - £1250
Year 2 - £1400
Year 3 - £1600

(3 year undergraduate degree) - then O/D can be increased to £2000 upon graduation

Year 4 - £1800
Year 5 - £2000

(5 year undergraduate degree e.g. medicine/dentistry)

Normally you apply to increase the O/D at the start of the next academic year i.e this would be in September 2009, but if you really need the money you can ring Natwest Lending Centre to apply to increase the O/D at the end of the current academic year i.e. after the first of July 2009.

Natwest Graduate Accounts interest free Overdraft limits:

Year 1: £2000 (whole £2000 is interest free)
Year 2: £2000 (interest free allocation reduces to £1000)
Year 3: £2000 (interest free allocation reduces to £500)

Hence after Year 2 of graduate account interest is payable on part of the O/D and the same for Year 3. After Year 3 the Graduate account reverts to a current account and interest is payable on entire amount of O/D)

xfoucault_2

You have to ring Natwest Student Railcards to sort out your railcard. Their Phone number is 01915013806.

fluffyhelen

I have found Natwest to be the best student bank account. I actually missed out on all of the offers by already having a current account with them. They increased my overdraft limit without any problems in the July of every year and now I am on a graduate account.

A real life-saver.

RBS also offer quite a substantial overdraft limit but are not as generous when extending it.

robnye

rb10 wrote: »

The new Railcard will be sent out in June/July this year, provided you've used your account in the previous three months.

my eldest daughter has one of these, but is fortunate to only have her loan paid in,

so she has only paid her final lodging fees from this account in april,

should i tell her to spend something (even a small amount) for the next 3 months, so that it has some activity on it?

atypical

robnye wrote: »

should i tell her to spend something (even a small amount) for the next 3 months, so that it has some activity on it?

Not for the next 3 months, but once in the next 3 months is enough.

robnye

okey dokes

byb3

I opened up a Natwest Graduate account with them having been with HSBC through my student days. They gave me £2k just like that, but got me to send a letter to HSBC telling them to cancel my old one. HSBC rang me up asking are you sure you want to close the account?

I said no i'd like to keep it, and now I have two interest free overdrafts totalling £3,500