Natwest Student Account?

Catbag

Evening all,

I opened a Natwest Current Plus account in July which i have now upgraded to a Student account. I didn't automatically receive an overdraft when the account opened.

I have just tried to apply online for an overdraft for this account and i keep getting a message saying that
We have not identified a Current Account that qualifies for an overdraft.


What does that mean? I'm stumped. I half expect to be knocked back as i have a pretty poor credit history but am i to ascertain from this message that they know that too and have limited my account to the extent that i cannot even apply?


Any guidance from the Oracles would be greatly appreciated!

coolesticeking

To cut a long story short, it means that at the moment - you can't have an Overdraft on the account with them at this time.

It's only near 3 month since the account was open, I think most banks like to see 6+ months before they will even think about giving an Overdraft out..

If you had a good credit rating, it would have given you the option of an Overdraft when you applied.

NatWest did give me an Overdraft when I was working, closed the account and came back a few years later and they said no... To be honest does not bother me though!

virgin_moneysaver

have you had your student loan paid into this account?

Catbag

virgin_moneysaver wrote: »

have you had your student loan paid into this account?

Yes, i have. This term's money went in last Saturday.

I suspect you're right about the 6 month thing. I'm being a muppet trying to bend them to my will before they're ready!

On a side note, when i opened the account they sent me a Visa debit card that was blue. I've just received a replacement as my partner sat on it while it was in his back pocket and it got bent. The new card is the same design but purple - is there any difference or have they just changed the colour?

Thanks

virgin_moneysaver

if the funds only went in last saturday it wouldn't have updated on the system until close of business yesterday - if you go into the branch & ask them to check on their system to see if the student overdraft is now recommended as the receipt of the student funds does effect the outcome

stclair

I would speak to your branch or lending tomorrow regarding your overdraft press option 2 when you call.

http://www.natwest.com/personal/students/g1/student-current-account/common-questions.ashx#using_limit

Bare in mind its still subject to status.

Catbag

Great, thanks for your help people, i'll do that

:T

P.S. Can any one shed any light on the debit card thing?

stclair

Catbag wrote: »

Great, thanks for your help people, i'll do that

:T

P.S. Can any one shed any light on the debit card thing?

The blue card is full auth requires authorisation for every transaction purple card is off line will only request authorisation over the retailers floor limit. It looks like the bank have upgraded your card? Does it have the CG function on it?

d61mts

Yep looks like they've upgraded your card, purple's better. On the overdraft it may just be their computer system. I applied for the account four years ago. It said the same message. Upon visiting the branch however they were happy to give me the full amount for the year, few questions asked. Similarly for the increases in the second and third years, online it said there weren't any qualifying accounts yet in branch they quickly increased it to the maximum limits with no problems.

Catbag

I hadn't noticed anything to that effect, but, having just extricated it from my wallet, it does have an extra holographic bit on the back that says £100 on it. It's a cheque guarantee card then, presumably?

stclair

Catbag wrote: »

I hadn't noticed anything to that effect, but, having just extricated it from my wallet, it does have an extra holographic bit on the back that says £100 on it. It's a cheque guarantee card then, presumably?

Yeah thats correct you may have a cheque book on the way If you havent got one already