Problems with Halifax

kt4gerrard

Hello,

I have a student account with Halifax that I opened on the basis I would be allowed upto £3000 overdraft. I am in my third year at Uni (of four in total) and have managed until now to have an overdraft of £1500.

I have telephoned them to ask to extend this as far as they will let me as I am working abroad next year and they have said I am at my personal limit. I am confused! I thought I would be allowed £3000, why am I any different?

They have told me I can lodge an appeal.

Please Help - I have £40 until I go over my limit and I need to pay £88 council tax!

MrsManda

How much of an overdraft you get from any bank is dependent on your personal circumstances and the bank's lending policy. Just because Halifax, (or any other bank) say 'upto £3000' does not mean you are eligible for that much. Have you been in to your branch to discuss it? Have you been putting in regular payments including your student loans?
I was given the overdraft I requested because my loans went into the account which means that three times a year my balance goes (briefly) in to the black.

As for the £88, as a student you are not eligble to pay council tax so why are you?

kt4gerrard

I pay my NHS student nurse bursary, student loan and the money I make working flexibly for NHS Professionals all into that account.

I will go into town tomorrow and plead with them to extend it. I have to pay council tax because I live with my partner (who is employed but on a low wage) and we barely make ends meet as it is!

scottishblondie

It's all dependant on your "personal circumstances". When I started my PhD I'd been with the Halifax for 4 years with an overdraft limit of £1250, well below the "allowed" £3000, which I wan't using all of. I had initial problems getting my PhD stipend and had quit my part time job so I was having serious cash flow problems. When I applied for a bigger overdraft to get me through I was told it would be "irresponsible to let me borrow more money", which I thought was pretty unreasonable given that I'd been paying in £600+ a month until a few weeks before that. I ended up borrowing from family to pay my bills.

In short, don't count on them giving you the money.

minerva_windsong

Did you tell them it was a four year course? I had a similar issue with this because when I turned 18 Halifax told me, "Get a student account or no more interest." (I was young, I didn't realise that interest on current accounts is a nominal pittance!) In the end I had my overdraft stopped at the end of my first year as they didn't have an option for being 18 and at sixth form. So definitely check that. It is relatively simple to sort out with a letter from your uni saying when your course finishes.

Also, why are you paying council tax? I thought students were exempt from that...

ETA: Just seen that answer. If it's just you and your partner though surely you're still exempt? I knew students who lived with people who were in employment and the students didn't have to pay anything. Your partner may also get 25% discount for being the sole occupant of the house who pays council tax.