Can i get an overdraft while on JSA?

kizzie_nikita

Wasn't sure where to put this, so please move if needed

I've currently got a student account with halifax(but looking at getting and OD with natwest), where i had an arranged overdraft of £1000 (no interested etc)for 3 years until i finished uni.

I've recently got a letter saying from the 1st November as i've left uni my account will be changed and i'll be charged £1 a day i'm in my overdraft, and i can't afford this being on JSA currently.

I was looking/wondering, if anyone has been able to set up a new regular account with any bank (debit card) and was able to get an overdraft without having to pay £1 a day for using it?

My friend has a natwest debit card and an overdraft (but they are in work) and the interest is only 1.2%, so even something like that would be better.

Thanks

mulronie

Natwest should move you on to the Graduate account after you graduate, which I think lasts for 3 years and still gives a certain amount of interest free overdraft. Worth calling them to make sure you can take advantage.

http://www.natwest.com/personal/current-accounts/g1/students-graduates/graduate-account.ashx

kizzie_nikita

Didn't graduate

jonesMUFCforever

....................No.
Sell some stuff or knock on some doors and wash windows or tidy up some gardens to earn some money to pay off your overdraft.

Sharon87

Really Natwest are doing daily charges now? My overdraft's still 19.9%

I would ask Natwest to get it changed to a graduate account, or shop around for another graduate account. May not get accepted if they know you're on JSA though, so check with Natwest first.

Sparx

Sharon87 wrote: »

I would ask Natwest to get it changed to a graduate account, or shop around for another graduate account. May not get accepted if they know you're on JSA though, so check with Natwest first.

kizzie_nikita wrote: »

Didn't graduate

Think you missed this post Sharon.

mulronie

Natwest won't ask to see your degree certificate...

kizzie_nikita

Just to clear it up my bank is with Halifax, not natwest sorry! But it was natwest i was looking at getting an OD with as Halifax charges daily.

But if i don't have to show them a degree crt, then i'll try get the graduate account

Thanks!

Edit- Been on halifax's website, and can't find anything to do with a Graduate account?

jonesMUFCforever

mulronie wrote: »

Natwest won't ask to see your degree certificate...

I beg to differ.

They can use UCAS data to confirm that you are eligible for a student account so must use official records for those who graduate (or not in this case).

opinions4u

jonesMUFCforever wrote: »

I beg to differ.

They can use UCAS data to confirm that you are eligible for a student account so must use official records for those who graduate (or not in this case).

Is a central record held anywhere on who gets a degree?

jonesMUFCforever

opinions4u wrote: »

Is a central record held anywhere on who gets a degree?

I would suggest yes.