Overdraft with no income?

sultanoflondon

Hi all,

I am a full time student and I have no official income (parents give pocket money, etc.). Does this make me ineligible for any current account overdrafts? For student accounts, there are some pretty attractive overdrafts for the duration of undergraduate courses and there is a possibility of stoozing with them too. I would like to make use of this opportunity, but I am concerned as to whether I would not be approved for an overdraft as I have to declare my income as 0.

Is there any remedy for this? For example, (fee free, even if for a short period of time) overdrafts that I could be eligible for with 0 income?

Thank you in advance!

jamie_02

Although students these days usually have to find jobs to supplement income, student overdrafts on these specific accounts are designed for students with limited income (grants, student loans and parental assistance). Each bank/building society would still make an individual decision based on circumstances but I would envisage student-specific criteria apply.

Stoozing didn't exist when I was a student, 23 years ago (indeed, although they were common from the big-four banks, I didn't even have a student account from the (pre-Lloyds) TSB)

armchaireconomist

You have no income other than handouts, you have no job and you want an overdraft?


Make your money last. You'll regret it.


Also go get a part time job or a (very) small business online.

DCFC79

Cant see it happening to be honest.