Natwest overdraft

brendanb581

Im currently a first year undergraduate student and i have an overdraft of 500 with natwest already.

Would it be possible to extend this?

angelofmel

You can apply for an interest-free overdraft - up to £1,000 in your first year. However, to help you budget we normally offer a limit of £500 in your first term, £750 in your second term and £1,000 in your third term.
You can then apply for up to £1,250 in your second year, £1,500 in your third, £1,750 in your fourth and £2,000 in your fifth.
To maintain your overdraft, we need to see that you're using your NatWest Student Current Account as your main account. This means that there must be at least one credit transaction (money paid in) every three months, and three debits transactions (money paid out) every month during term time.

i dont know much about the 3 payments across the terms that it mentions as i was given the full amount when i applied. best thing is to go into your nearest branch and just ask if you can extend your overdraft to the maximum 1st year amount and see what they say really.

Racheya

It's likely they'd extend it but charge you overdraft interest on it so make sure you don't get that. Otherwise, you might just have to stick with it =/

angelofmel

Racheya wrote: »

It's likely they'd extend it but charge you overdraft interest on it so make sure you don't get that. Otherwise, you might just have to stick with it =/

... not if its a student account

Tombo

I'm not sure about Natwest but with Lloyds TSB, I had a £250 pound over-draft (I think) but I went over the limit and received a letter stating I owuld be charged for this so I rang them up and they offered to extend my over-draft to £700 so I agreed.

7891368

brendanb581 wrote: »

Im currently a first year undergraduate student and i have an overdraft of 500 with natwest already.

Would it be possible to extend this?

It's a long time until January (The end of the first term; technically as you will recieve not funding from SLC until you start your 2nd term) so maybe you should look for a job if you've 'spent' all your overdraft already.

Just ask your bank if they'll extend it for you, they will just say yes or no, from experience they're flexible, to an extent.

ste_coxy

why are you needing to extend it? if it for something necessary or vital then go ahead but if it isn't then have you considered getting a job and saving? I really wish I had not kept extending my student overdraft as they are so hard to shift

charlie792

I got £1000 from Natwest in my first year

clozza_90

If you go into a branch and ask to speak to someone about your overdraft they should say that they'll let you have the full amount available there and then. This happened to me earlier on in the year when I needed to pay my accommodation for the term before my student loan came in, and they said this was no problem.

jp2031

RBS offered me a 1500 overdraft (year 2) but I'm not sure why I'd need that... I'd be too tempted; asked for a £100 overdraft on my student account. Interest free and i'm happy