Halifax Student Account 2009/10: We Want Your Feedback

bikelesschick

I opened an account with Halifax in Sept/08 and was given £1000 overdraft straight away. Baring in mind that I didn't really bank with them (I had a credit card with them ages ago and had an ISA with a low balance when I opened the account), I thought that was a good result.

I went back maybe Apr/May time to request it to be increased and was told that I couldn't have it. When I asked for the reason, she stated she didn't know, that the computer system only advised whether I could apply for an increase or not.

I'll definitely try again now that I've had the acccount for a year.

Samba_2

I also opened an account in Sept 08 and was given a £1000 overdraft. I requested in August this to be extended, and was refused. However, they also removed my overdraft facility entirely, of which I had no notification until a debt letter came through the post asking me to pay the overdraft back (I was £600 OD). When I called Halifax they said that this was because I had not funded the account in 3 months. I did explain that my next student loan would not come through until the start of my next university term, October for me, but they said this did not matter and I had to deposit £400 in the account immediately or would be charged for being overdrawn.

I don't know anyone else who has had this problem but it is worth baring in mind they want regular funding to the account - more than just a student loan.

castanea

My daughter has just started her third year with an overdraft limit of £1500. Today she went into the local branch with the intention of increasing the limit to cover the cash flow problems likely to occur towards the end of each semester. These caused by monthly accommodation rental charges draining funds before the next student loan installment arrives.

She was astonished to be not only told she couldn't have an increase but that her overdraft was now £1250! Luckily she has worked this summer and wasn't in excess of this figure. She asked just when exactly they were planning to inform her of the decrease. Their answer was - you should have got a letter.

Is it worth her calling customer services and re-stating her case?

**purpleprincess**

I've got a Halifax student account, mostly because of the advertised £3k overdraft. I'm now in my second year and got given £1k in my first year and they're not giving me anymore!

Reason: because the system says so!!

My student loans get paid in, my wages get paid in, any other money gets paid in!! Who knows!!

rb10

**purpleprincess** wrote: »

I've got a Halifax student account, mostly because of the advertised £3k overdraft. I'm now in my second year and got given £1k in my first year and they're not giving me anymore!

Reason: because the system says so!!

My student loans get paid in, my wages get paid in, any other money gets paid in!! Who knows!!

When you applied for the overdraft increase, did you get an immediate decision? Or did they need to make a phone call/put you on hold for a bit (if you did it by phone)/send a message to head office and call you back later?

If they did say straight away that £1k is the maximum they can do, then try again. With student accounts, the branch or call centre cannot approve requests of over £1k themselves - this must be done by the underwriters at head office.

salesadmin

I opened my account in August last year. Got £500 OD which I upped to £1000 after my first loan payment. I called in December and asked for £1,600 which was declined but I then called in March and asked for £1500 which I got.

I haven't asked for anymore (am actually quite GLAD that I didn't get £3,000 straight away as it would be gone by now) I intend to ask for a bit more as my mortgage reverts to a higher rate in Jan and current student loans are only just paying what it is now.

kengland

I opened a halifax account and got told that the starter amount was a £500 overdraft but since I have good credit history this was immediately changed to £1000. You do need £100 in the account to activate it though.

Kavanne

Managed to get my bf's OD increased to £2000 today. He is in his 4th year.

They initially said no but he pointed out they had lost his original proof of studentship he provided and expected a bit more service. Lady went away with the new proof and came back after a few mins saying it had been increased

Moneygeddon

Mature student (22) in my second year. I applied before my first year and was declined dues to my credit score, which was fair enough as I had only recently begun my credit rating journey. Applied again today and turned down yet again. I have an excellent credit score with quite a nice history and plenty of savings to put into the account, but no one at halifax seems interested. Natwest were more than happy to give me £1000+. And Barclays are quite keen too.

ultimatedingbat

Failure also! I went to them for my student account last year and they refused me a student account.

I have a Lloyds TSB account, always have and have never gone into the Overdraft until I came to uni. Had a credit card with them from 18 just for emergancies, always paid off.

I still dont understand why I was declined