Can you use a Nationwide overdraft the same day?

excalibar

Hi guys, I just increased my overdraft limit, and received an instant confirmation that it was successful. It says you can use within the next 2 working days, does that mean you can only use the overdraft after 2 working days? or can it mean anytime from now up to 2 working days?

has anybody manage to use their overdraft the same day they got approved?

thanks!

[Deleted User]

It would mean it will be available for use within 2 working days.

You'll need to check if it is available if you want to use it before 2 working days have elapsed.

MrSilk

After 2 working days, your overdraft shall be applied to your account.

You'll have to wait 2 working days until you can use it.

excalibar

I remember last time I could use it the next day.. So I was just curious if anybody managed to use their overdraft the same day it got approved..Am just asking as I really don't want to go out in the rain to the nearest cash point just to check.

[Deleted User]

You can't take the risk based on someone else's experience. I imagine they will try to upload all limit changes on the same day, but they allow 2 days for issues, delays, workload etc.

bengal-stripe

It might get applied to your account with tonight's update, it might take another day.

Check your account tomorrow, either on-line or at an ATM. As soon as the overdraft amount has been included in your "Available balance", you can use it. (Presuming your balance is £500 and your new overdraft is £250, you should see "Balance £500", "Available balance £750".)

MrSilk

Be careful, by the sounds of it you are extending an existing OD? Please remember an OD isn't for long term borrowing and it repayable on demand. Also at 50p a day it isn't the cheapest way of borrowing long term, if this is what you're doing.