Can i open two current accounts?

Drew2009

Hi i'm a student in my final year. i am with Barclays on a student current account. I have maxed out my overdraft by 2,000 pounds. I get no extra money from the loans company, as my parent earns over the line where i could get bursaries or grants. I'm looking to open ANOTHER bank account in a different bank, so i could get another overdraft. I work part time yet this is still not enough.

Am i able to open another bank account in my name when i have an overdraft in my other current account.

Can somebody help? and can somebody also help me by telling me how i'm supposed to pay off my overdraft after i finish university.

Thanks

andrewf75

I certainly did the two overdrafts trick, but that was 15 years ago.

How to pay it off? er, get a job and gradually pay it all off obviously!

asajj

A new current account will mean that you will need to list your current accounts, cards etc as far as I know and they might deny you a new one and they don't have to give you an overdraft facility.

Overdraft is basically a loan that you have to pay back. How you find money for it is a question for you but don't borrow if you can't afford it as it will cause you problems in the future.

agrinnall

I don't do overdrafts so I can't be sure but I would expect one that is being used would be reported to the credit reference agencies. So whether you tell the new bank about your existing account or not their checks will find it anyway, and there's very little chance that you'll get another one. Things have changed in the banking world since andrewf did it 15 years ago.

And obviously you pay off your overdraft in the same way that anyone else would, by earning money in a job.

Mrs_Arcanum

My Daughter has two current accounts.

One she uses for living as she is easily able to transfer from her savings account. The Santander one she keeps for the rent as this has a larger overdraft and the money comes in incompatible tranches to the rent outgoing.