Interest free overdraft increase

nikkif_3

When you go into your next uni year when does your overdraft increase? or do you have to go to the bank to do it?

Thanks

Tallymanjohn

Obviously banks operate different systems but your overdraft should have a review date (possibly mentioned on your statements?), still it may be best to contact the bank anyway - a quick phonecall/visit could save a fortune in excess charges.

tenof26

my bank (hsbc) just sent me a letter saying it had gone up (or down depending on how you look at it) by 250 quid ... should be getting one for this year any day now would of thought

a phone call to ask cant hurt though

good luck!

MercilessKiller

All banks with student accounts increase the overdraft for second year still interest free.

You must go into your bank in september and request the overdraft extension however.. and u can also ask then jsut to make sure

faithless

I think the big 4 all go up £250 every year -

£1000 first year, £1250 second, £1500 third.

nikkif_3

i know mine goes up to £1400 (with natwest), i was just wondering when it goes up and whether it will increase automatically.

manc2005

nikkif wrote:

i know mine goes up to £1400 (with natwest), i was just wondering when it goes up and whether it will increase automatically.

im also with natwest. i rang them today and they said to increase your overdraft you must ring or go in to branch on or after 1st September.

Took_Me_Away

GF is with HSBC and they are in the process of doing them all now. However if you are desperate for the increase now (like she was). You can just pop into your local branch and ask and they can whack a few buttons and your now 250 poorer :rotfl:

djhworld

I got a 'review' letter the other week from my bank (HSBC), it says my overdraft has been reviewed at £1000.

I'll be starting my second year in September! Now I have to needlessly ring them up and remind them that I need extra money.

Snow_Angel

Hi - Barclays will increase your overdraft rate mid-July between academic years
I'm with them and did this and it was very helpful for accommodation deposit on the new place whilst waiting for the accommodation deposit to be returned from the last place!

CrispyUK

djhworld wrote:

I got a 'review' letter the other week from my bank (HSBC), it says my overdraft has been reviewed at £1000.

I'll be starting my second year in September! Now I have to needlessly ring them up and remind them that I need extra money.

I had the same problem with mine and it was a bit of a pig to sort out. Both phonecalls to customer service in India or wherever were completely pointless and a waste of time. My first visit into the local branch was also a waste of time, the guy on reception was foreign - I could barely understand him and he didn't seem to understand my query - after faffing around for 15 mins he asked me to wait another 30 to see someone else so I told him to forget it.

Went past the other day and there was someone on reception I recognised (i.e. they'd been working there ages) and she sorted it all out on the spot in a couple of minutes.