Graduate to Current Account

Davidc18

Can anyone help me?

I currently have a Natwest Graduate account with an overdraft of approx £1500. As of the 17th December I am being switched to a standard current account which wants to charge me 18% interest on said overdraft and £6 a month for the pleasure!

I went in to branch to ask about whether they could help me and frankly the woman was slightly rude and said that they had held my hand for seven years and now it was time to pay.

I have been trying to pay off my overdraft but because of other things happening in my life It has been impossible! My parents have been supportive and tried to help but they aren't in the best position financially either and I don't want to ask for more help.

I have read the best bank accounts guide and am stuck and confused and don't know where to go or what to do. Please could someone offer some advice on the best current account when you have a big overdraft, and how to switch!

grumbler

Davidc18 wrote: »

I currently have a Natwest Graduate account with an overdraft of approx £1500. As of the 17th December I am being switched to a standard current account which wants to charge me 18% interest on said overdraft and £6 a month for the pleasure!

What did you expect? All overdrafts are repayable on demand. You did enjoy it for a long time and should have started repaying it after graduating.

I went in to branch to ask about whether they could help me and frankly the woman was slightly rude and said that they had held my hand for seven years and now it was time to pay.

She was right. Why is the bank supposed to *help* you?

I have been trying to pay off my overdraft but because of other things happening in my life It has been impossible! My parents have been supportive and tried to help but they aren't in the best position financially either and I don't want to ask for more help.

It's time to start paying interest then. In real life loans are normally not free. Until you start paying interest there always will be "things happening in your life" that seem to have higher priority than paying back what you owe.

I have read the best bank accounts guide and am stuck and confused and don't know where to go or what to do.

Earn more, spend less and pay back what you owe: Debt-Free Wannabe board.

Please could someone offer some advice on the best current account when you have a big overdraft, and how to switch!

As I said, in real life overdrafts aren't free. Nationwide offer a free one for 12 months ("subject to approval"): Cheapest Overdrafts

Also, there are loans and credit cards, but IMO without a good credit history you are unlikely to get anything better than your current 18%. And beware that your bank can increase this rate at any time or withdraw this facility if you don't take real steps for reducing the overdraft balance.

CLAPTON

Davidc18 wrote: »

Can anyone help me?

I currently have a Natwest Graduate account with an overdraft of approx £1500. As of the 17th December I am being switched to a standard current account which wants to charge me 18% interest on said overdraft and £6 a month for the pleasure!

I went in to branch to ask about whether they could help me and frankly the woman was slightly rude and said that they had held my hand for seven years and now it was time to pay.

I have been trying to pay off my overdraft but because of other things happening in my life It has been impossible! My parents have been supportive and tried to help but they aren't in the best position financially either and I don't want to ask for more help.

I have read the best bank accounts guide and am stuck and confused and don't know where to go or what to do. Please could someone offer some advice on the best current account when you have a big overdraft, and how to switch!

how much do you earn

how much are your debts

what do your credit files say