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

retrocircles

I had to fight to get £2000 when I switched my account in my 3rd year from HSBC.

Then when I graduated & didn't find a job immediately, they took it off me, demanded the £2000 on the spot & left me in a horrible situation.

Ended up going to CAB to get help with complaint which made me be allowed to pay off the overdraft monthly.

They've now put on my credit file that this account is being managed by a debt management company! When it's not!!!

harrie24

Halifax does boast the highest overdraft at £3000. What actually seems to happen is that they assess the amount of money coming into your account. They initially set the overdraft at a lower amount, i think mine was originally £500, and everytime this doesn't cover you,you have to apply to halifax to extend it for you. It is relatively easy to do this and you can set the amount but they can refuse you. I have just finished my second year and my overdraft is currently set a £2000 - that is the maximum they would allow me for this year even though at times this wasn't enough. It seems that they are quite generous as long as you leave long enough gaps between asking for more. However, the overdraft is NOT technically £3000. I imagine I will be able to extend it from september again but i dont now yet. Hope this helps all the students out there who need financial support like I did.

spellerrob

started with £500 overdraft and wanted to get the full whack. went in and they said they could only increase it to £1000. I wasn't pleased as I needed the overdraft to pay deposit and a £1000 down payment on rent for a house which I wouldn't get back from student loans for 4-5 months. I actually argued with them but they just said its all I could have. Went in a week later, spoke to someone else and got it upto £1500 but I didn't dare ask for the full £2700 that I thought was almost automatic. A year later and I've got it upto £2000. I recommend trying different branches (at home and at your uni location) and persisting. It does seem however, that they will only increase it by £500 at a time (if you're lucky).

i'm not just spending the overdraft on alcohol but did truly require the overdraft to pay for accomodation well in advance of getting the student loan/grant money through. I now feel I should have gone with natwest as the free rail card would have probably been better than a bigger overdraft which you can't actually get your hands on. not cool halifax. i now recommend people away from the halifax student account.

Gilli-chan

I got £3,000 in my first year, but then I think that's 'cause I'd been a Halifax customer for years and years, and was just switching over to a Student Account when I went back to uni...

quidnote

got the whole 3k, no questions asked, now stoozing the whole amount... cheers halifax!

bonnycot

Opened one, got a £1000 overdraft, they have threatened to pull my overdraft on 30th June because I don't pay a regular grant or other income into it (I don't get a grant! and currently not working as I'm studying)..... have just transferred my child benefit into it but branch were unable to authorise and have had to refer to head office for decision, we will see what happens.....

Kirsty1718

I changed my normal Halifax account (opened as soon as I was old enough) to their student account when I started University. I recieved the same letter stating a limit of £1750 in first year,gradually increasing to the £3000 as you progressed through your course.
Not sure where they would stand if I had immediately asked for the full £3000 as I only needed a small amount, but the letter definately implies you aren't able to recieve the maximum until the later stages of your course. Bit of false advertising I think!

kelloggs36

Even though I had evidence that I had a guaranteed job paying 25k at the end of my course (my old job, as I'm on a career break) I still got rejected for any increase from the £1500 they originally gave me - it didn't increase from year 2 to 3 (applied in year 2). So, even though I could easily pay off a 3k overdraft after I had finished my course, it was still not good enough criteria to give me the overdraft. My credit score otherwise is actually very good!!!

b3nton

Got £1000 but thats all I expected

21banksy21

I was given 1000 overdraft when i first opened account providing my bursary was paid into the account, which it was. Rang up and asked for 2000, this was given but they asked me what it was for, lied and told them it was for repairs on car, ha! When i rang up for 3000, this was denied as they said they dont know how it could be paid back, said if i had extra income coming in, such as a job i may get it, i am still in my first year so will probably try again in 2nd year!!