Natwest won’t increase overdraft

Frontera2

Have been wanting to increase my overdraft for a while now, mainly to provide a safety net, yet when I go into the app and try and apply I receive a message saying:

“Based on your recent account activity we are unable to offer you an overdraft increase at the moment”

I’m confused as to what this activity could be given I’ve never exceeded my small overdraft limit and pay over £2.5k into the account each month. This is my main account so all my bills etc go through it.

Any ideas? Would be great to understand what activity they don’t like so I can stop doing it!

[Deleted User]

You don't meet their requirements to have one.

Why do you "need" one?

Do you run out of money each month?

An overdraft should NEVER be used, especially as a safety net

[Deleted User]

Frontera2 wrote: »

I’m confused as to what this activity could be given I’ve never exceeded my small overdraft limit and pay over £2.5k into the account each month. This is my main account so all my bills etc go through it.

The activity is likely to be the fact you're using your existing overdraft, which will be a key reason they're not keen to increase it further.

System

!!! wrote: »

You don't meet their requirements to have one.

Why do you "need" one?

Do you run out of money each month?

An overdraft should NEVER be used, especially as a safety net

What a sweeping generalisation and a silly comment! What about an interest-free overdraft?

Socajam

I have never heard of an "interest-free overdraft"?

Which banks provide this service?

System

Socajam wrote: »

I have never heard of an "interest-free overdraft"?

Which banks provide this service?

The HSBC Premier Account has a £500 interest-free overdraft:
https://www.hsbc.co.uk/current-accounts/products/premier/day-to-day-banking/bank-account/

[Deleted User]

Economic wrote: »

What a sweeping generalisation and a silly comment! What about an interest-free overdraft?

Even interest free ones should be avoided

Uxb1

Considering the amount of money you need with HSBC to qualify for being a premier account customer I expect a £500 interest free overdraft is almost irrelevant

colsten

Socajam wrote: »

I have never heard of an "interest-free overdraft"?

Which banks provide this service?

https://www.money.co.uk/current-accounts/interest-free-overdraft.htm

!!! wrote: »

Even interest free ones should be avoided

Experienced and determined stoozers would disagree with you. Personally, I now find stoozing tedious but I believe there are still enthusiasts.

Thrugelmir

Frontera2 wrote: »

I’m confused as to what this activity could be given I’ve never exceeded my small overdraft limit !

How often do you use this?

Frontera2

My £250 is “interest and fee free” as part of the Platinum account for which I pay £20 ( and make full use of the features )

I probably use it for around 5 days a month.