Student overdraft expired. Santander

toblerone_7

Ok so I had an Abbey account since I was about 16 - so about 6 years using it for my part time job. I then got another bank account with Ulsterbank for my student loan. In 2nd year of Uni I was heading off to America for the summer so asked abbey to change my account to a student account - and so I got a 1000 overdraft interest free. Since coming back last summer I have not used the account at all really and now they are asking me to pay it back by Sept 1st. Suggestions on what to do or say to get me out of this pickle I even just want it extended a bit so I can gather the money together. I know that's not what an overdraft was meant to be used for so I think I will say something about books and rent etc but im just being honest here. What way should I approach this? Call in or ring up also?

unauthorized charges if i dont pay it back by sept 1st - what would they be? Trying to find them is proving difficult

Lokolo

£5 a day, capped at 10 days each month if it's a student account still, 20 days each month if it's a normal current account.

http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223414377264&cachecontrol=immediate&ssbinary=true&maxage=3600

IrishGypsy

toblerone_7 wrote: »

Ok so I had an Abbey account since I was about 16 - so about 6 years using it for my part time job. I then got another bank account with Ulsterbank for my student loan. In 2nd year of Uni I was heading off to America for the summer so asked abbey to change my account to a student account - and so I got a 1000 overdraft interest free. Since coming back last summer I have not used the account at all really and now they are asking me to pay it back by Sept 1st. Suggestions on what to do or say to get me out of this pickle I even just want it extended a bit so I can gather the money together. I know that's not what an overdraft was meant to be used for so I think I will say something about books and rent etc but im just being honest here. What way should I approach this? Call in or ring up also?

unauthorized charges if i dont pay it back by sept 1st - what would they be? Trying to find them is proving difficult

Unfortunately, if you've never credited your student loan/grants into the account over the previous term, then you'll have breached the accounts T&C's and that'd be why they're asking for the OD funds back.

You could try and get a branch to appeal an extension, but I'd really doubt it'd go through. More than likely the account will go over-over drawn (unauthorised OD) and at this point you'd be best speaking to collections and recovery immediately. They can freeze any future charges if you agree a repayment plan with them. But such an agreement might show on your credit file and cause it harm (if it's classed as an Arrangement to Pay - AP). If you don't call them (or don't pay the OD off before the 1st), then be prepared for charges.

Best of luck.

ses6jwg

As has been said by the poster above, you have breached the T&Cs of the student account by not agreeing to pay your income into it.