Barclays Overdraft

awolo1

Hi,
I've recently opened a Barclays Premier account after meeting the criteria I felt that opening an account would be a good step in the right direction
Account comes with no overdraft. I've requested one. Barclays says this is because I am new to the bank and they have no experience of dealing with me. I appreciate that banks differ on the way they lend money so thats no issue.
Does anybody have any experience of when Barclays offer an overdraft from opening an account - especially not banking with them previously. Was it a month or so after using the account and having salary paid in etc? I noticed on the online banking it has a pre selected page which shows you what they are prepared to offer.
Any thoughts helpful please.

Stevie_Palimo

Thoughts on here as a general consensus would be not to have or use an overdraft in the first place, Better off budgeting around one as they only cost you more in the long term.

Norscbu

unless you can get an interest free overdraft, why would you want one? I've never understood this. Whatever the situation there are usually better solutions.

awolo1

Account comes with a interest free 2k overdraft as standard

awolo1

the question is - has anybody got any experiences being a barclays customer - how long it took for them to offer you a facility from signing up as a new customer....

Marchitiello

awolo1 wrote: »

Account comes with a interest free 2k overdraft as standard

Do you mean that you already have the £2k free overdraft and that you want more or that they have not offered you the Premier Account advertised £2k free overdraft?

I opened an account with Barclays many, many years ago before starting uni, with a basic electron visa and no ovedraft. On my second year at uni, I converted the account to a Student one (in my first year I opened a NatWest a student account but never used as main account) which came with free overdraft and, as I was a customer already, the ovedraft limit was set slightly higher then regular student ones.
I then moved to a Graduate account maintaining the same ovedraft and then a standard account, by which point the overdraft had been split in a free buffer part and a pre approved part. You never know when you may need it to temporarily dip into it whilst another line of credit could take a bit longer to become available.

I disagree with people saying that you do not need an overdraft. I have never, ever had to use one, but I have an approved overdraft with all my bank accounts and would not want to have an account without an approved line of credit.

Shakin_Steve

We've been with Barclays for donks. Our additions account has a £5000 overdraft facility with the first £250 being fee free. This OD has been on our account for, I think, about five years, but there are much cheaper ways to borrow.

Paul_1977

Barclays told me that it takes six months of account use until new customers are offered an overdraft.

However other banks have given me one straight away.