Halifax Student Account. Did you get the full £3,000 overdraft

alexsn

I have been told in branch that I have the maximum for a first year student, which is £1,750.

I therefore find their advertising quite deceptive. Whilst they are careful to state "up to", it appears £1,750 is their policy, and only more is offered to first year students in exceptional circumstances. It is similar to a store offering "up to 90% off", but then finding that only one product out of hundreds actually attracts this advertised discount.

Aside from this, customer service is abysmal. I literally spent 40 minutes sitting on the floor of a branch, just waiting to be helped.

It would be worrying if Halifax tops MSE's rankings again.

norbie

I initially got £1000 and kept asking for increases, the most I could get was £1500.

momo1

I too am a mature student with a long and excellent credit rating, name on bills, mortgage, credit card etc.

I took out the account asking for the full overdraft in Sept '07. I was given £1000 pounds. When I complained I was told to try again in a few months. After having my car written off at the end of '07 I again asked to have it increased explaining that I needed to buy a car unexpectedly. I was again refused and told to wait until my second year.

The overdraft was automatically reviewed in Sept '08 and I was again given £1000. I have not been in to ask for more since.

I feel the Halifax campaign was deliberately misleading to attract as many students as possible.

meltischa

I got £500, never been offered more & never asked for more. Although I do feel robbed of £2500, at the end of the day it's not mine to keep and I know I would end up getting further in to debt. £500 is a manageable overdraft for me, so despite not being entrusted with what they promised I am much happier than I would have been if I'd been thrown in with a Natwest overdraft and spent it all already!! :rolleyes:
I get a maximum loan and a maximum grant, and with student halls being taken out of that I am left with around £30 p/w (plus overdraft, which I try not to touch) and handouts from my family. I'm 24 so that's pretty hard going after working for six years in a semi-decent job, but there are only two more years of this left so I will be okay. I think... :T

mrcrazy04

I'm now at the end of my 2nd year and have a £2,500 overdraft.
I had to be persistent as the call centre staff's computer would usually decline me for the bigger sums, so I had to ask them to phone the underwriters (who actually have some discretion) to get the overdraft approved - and they usually do so with minimal hassle.
However, they insist that you have paid at least £400 into the account in the 3 months prior to requesting the overdraft - and when I phoned up the Friday before my loan was due in to increase it I was told the student loan went in about 5 days outside of the 3 month period!

7sefton

I had to fight really hard to get the £2750 (which was then the max) in my first year - they were very patronising when I asked for it, and numerous branch advisors told me it was 'highly, highly unlikely' to get the maximum available in your first year. I got the impression they wouldn't even bother putting the application through because they thought it would be rejected. I knew, however, that I had an excellent credit score and had had a credit card and other overdraft in my gap year, so after insisiting they refer my application to the underwriting team in Leeds I managed to get the £2750, albiet in stages over 6 months.

This year (my second), with the new £3000 limit, I went into the branch to get the maximum. The advisor said he was 'shocked' I had managed to get the £2750 in my first year. As my overdraft was near its review date anyway, I had to speak to the underwriters on the phone to renew it. She said she was reluctant to even renew it (never mind higher it) because it was such a large amount for someone in their second year. Only when she looked at my savings with the bank (10k+) did she agree to keep my limit at £2750 because of the 'good relationship' I had with them. No chance of getting £3000 though.

I actually think the £3000 thing is a marketing strategy, and that they let very very few people actually have it. My other friends have experiences with NatWest, which seem to let everyone have their maximum in their first year (£1250). This, I think, might be a better option without the stress of fighting with Halifax!

mdr86

When I first applied (when my credit history was COMPLETELY blank) I was given £500, at the end of each term I applied for it to bee increased and it's been increased by £500 a term, so now in the third term I'm on £1500.

winners09

given 1750 quite early on in first year. asked for it to be increased in second year, they said wait for second student loan to come through. did so and asked for 2250, but they rejected. haven't asked again, but probably will at beginning of third year.

toddleo

Went into our local Halifax branch, and had a chat with a staff member about our options. She told us that it really is not worth opening one of the halifax accounts and, to her knowledge, no body had ever been given the full £3000 overdraft. She said she had two children at Uni, both in great need for the £3000 but even as a staff member she had been unable to access anywhere near this figure for them! her advice? go elsewhere and get a rail card deal!! lol:T

Sarahes

I couldnt even get the maximum of £3k in my final year! They would only give me half that! Still got it though and finished uni in 2006!