Overdrawn Natwest Adapt Account.

interestingidea

I recently cashed a cheque into my Adapt Account with Natwest for £1700, proceeded to spend some of the money only for the cheque to bounce unexpectedly. I currently have -£528 as a result of spending some of the money, with no immediate way of paying it off.
I am 18 and going to Uni in less than a month so will very soon be switching to a Student Account. I am wondering firstly what charges/interest I will/should receive from Natwest based on the account I currently hold for being -£528. (Adapt), and also if its possible (after first putting say £30 back into the account) to switch this account to a student account whilst my balance is still -£498, and then if I can immediately utilise the £500 arranged overdraft facility available on the student account? Subsequently leaving me being £498OD, but interest free and arranged.

Thanks for any help.

BigBlueBadger

NatWest do not charge for the Adapt account being overdrawn. However, it is unlikely that they will agree to convert your account to a Student account while it is in unauthorised overdraft.

I would suggest clearing the overdrawn balance first and then applying to convert the account.

If you leave your account in an unauthorised overdraft for any length of time, while you are not going to get unauthorised overdraft fees, your account may be transferred to the NatWest collections department which can then start to have an effect on your credit rating.

leclerc

interestingidea wrote: »

I recently cashed a cheque into my Adapt Account with Natwest for £1700, proceeded to spend some of the money only for the cheque to bounce unexpectedly. I currently have -£528 as a result of spending some of the money, with no immediate way of paying it off.
I am 18 and going to Uni in less than a month so will very soon be switching to a Student Account. I am wondering firstly what charges/interest I will/should receive from Natwest based on the account I currently hold for being -£528. (Adapt), and also if its possible (after first putting say £30 back into the account) to switch this account to a student account whilst my balance is still -£498, and then if I can immediately utilise the £500 arranged overdraft facility available on the student account? Subsequently leaving me being £498OD, but interest free and arranged.

Thanks for any help.

I'm surprised your account has not already been converted since usually that is part of the adapt account.
Did you go through clearing?
Furthermore, if the cash bounced have you recovered that amount of money from the person who gave you the cheque? They ultimately owe you the money.