Student Account Overdraft?

dneill2006

I have had a student account with Ulster Bank (RBS) for almost a year now but only just asked for an overdraft the other day of a Limit of £500 thinking this was the maximum I could get.

I got approved and got the overdraft on yesterday.

But tonight I was on the banks website and noticed it says the maximum for 1st year is actually £1250.

Had I have realised this before I would have asked for it.

I was just wondering if I phone the bank in the morning and ask them to increase my overdraft to £1250 would they be willing to do it after I only got the £500 overdraft on yesterday or would I have to wait a certain period of time?

This overdraft would be helpful during summer if I have trouble getting a job until my next SLC payment.

Thanks for any input guys

zppp

The student overdraft for Ulster, RBS and Natwest, is drawn down into the following installments in the first year.

Ist Term - £500
2nd Term - £1000
3rd Term £1250

By your post it looks like you may have completed your first year? So if this is the case you can apply for the £1250, but I would wait until the £500 appears. Be aware that it will credit score you again for the higher amount.

dneill2006

zppp wrote: »

The student overdraft for Ulster, RBS and Natwest, is drawn down into the following installments in the first year.

Ist Term - £500
2nd Term - £1000
3rd Term £1250

By your post it looks like you may have completed your first year? So if this is the case you can apply for the £1250, but I would wait until the £500 appears. Be aware that it will credit score you again for the higher amount.

Yes coming to the end of my 1st year, finish in June for the summer.

The £500 went on to my account yesterday, I'm going to try phoning my branch soon to see if they will increase the limit hopefully.