NatWest graduate account tiered overdraft - have they forgotten me?

MrTrampoline

Hi all, just a small question here.

NatWest offers a tiered interest-free overdraft to graduates, with £2000 interest-free throughout the first year after graduation, £1000 after the second and finally £500 throughout the third. So the overdraft remains at £2k, but the interest-free portion slowly drops year-by-year.

Anyway, I graduated in 2012. In July 2013 I got an email saying that the interest-free portion was dropping to £1000 and then another in September 2014 that it would be dropping to £500 in October 2014.

Anyway, here we are in November '15 and I still have yet to receive any such email saying that the interest-free part of my overdraft has finally gone. Furthermore, I actually did dip into it (just by £200 or so) a few days before payday, and yet, nothing has appeared in the 'pre-advice of interest and charges' section.

My question is this; is there any chance that NatWest have forgotten me and I essentially have a £500 interest-free overdraft on my account until they tell me otherwise?

I don't want to count my chickens yet but given that I went into overdraft briefly with no effect, it certainly seems that way.

Or could it perhaps be that NatWest only charge you interest if you're overdrawn at the end of the month?

Ideally I'd just rather use the overdraft than borrowing and repaying money to the bank of Mum and Dad in the weeks leading up to payday really.

alibean121

I have an old RBS student account (same group as Natwest) with £1000 interest free overdraft on it. I finished the course in 2009. It was dropped a few years ago from £1400 to £1000 but nothing since then. I presume they will eventually wake up and remove it but it seems they don't have systems that track this. It's nearly my 10 year overdraft anniversary....

MrTrampoline

Ah thanks! That's good to know.

I must say, it does seem quite strange. Either they've

1) Forgotten about me and I have the £500 overdraft as before

or
2) Haven't told me that it'll be dropping and it only charges interest if you're in overdraft for a certain arbitrary number of days or at the end of the month. It is strange.

rachhh

I graduated in 2013 with a £1600 overdraft. 2 years on and this amount still shows as available on my account. Looks like they're just not very good at keeping track.