Bank of Scotland Overdraft Help!!

ScottHeron

Hi guys,

Wondering if you could help me out. I have a bank of scotland student overdraft with a £2000 limit. I have maxed out the overdraft i.e. my balance is -£2000 and my account has not shown any recent pay ins within the past month. Could someone tell how long the bank of scotland gives you to repay the overdraft?

They state that all overdrafts are repayable on demand - do they give you one month at least?

Thanks

Scott

rachelonna

As long as you're putting in money into the bank account - they are likely to let it be

So make sure you have £100 coming into the account (it doesn't matter that it's coming straight out)

This said, make sure you have a plan for this in the long run as overdrafts are really expensive

Also, if you have direct debits coming out of that account, you may get hit with unpaid direct debit charges and/or unauthorised overdraft fees!

ScottHeron

Hey rachelonna,

Thanks for your help

Just hope it goes unnoticed for as long as possible!!

steflarne

If there aren't any payments in for a certain length of time (more than a couple of months likley, especially on a student account-mine never really had anything else in bar the loan) you'll get a letter telling you they are going to reduce your overdraft-its very unlikley they'd ask for it all back, they'd just knock it down a bit. Anyway, i wouldn't worry too much, they are usually more flexible with student overdrafts and if they see you are getting a student loan/any wages paid into it they are unlikley to even ask you to reduce. Whilst its far from a good idea, I had many friends at university who lived in their comfortably fee-free student overdrafts of larger size than your own with no bank hassle.