Transfer of Natwest Student Overdraft - possible?

iliveinapond

Hi all,

I've searched on the forums and can't find specific information so I wondered if someone could try and help.

I'm posting on behalf of my girlfriend who graduated 3 year ago and has a balance of around £800 remaining on her Natwest Student overdraft which she is now incurring costs on - about £17 / month.

We have money set aside to pay it off, but wondered if there was a way to simply shift the overdraft to another bank and be able to delay the payment of the debt for 12 months or so?

Any information, gratefully received.

Thanks.

eskbanker

The short answer is no, she can't shift an overdraft from one place to another as such.

She can open an account with another bank and see if they'll offer an overdraft, which she can then use to pay off the first one (assuming it's large enough, which is far from a given), which arguably amounts to much the same thing, or alternatively apply for a money transfer credit card.

However, unless she's eligible for really good low-cost deals, then chances are that your best bet will simply be to use savings to pay off the overdraft and move on....

iliveinapond

Thanks for the help here.