How long before Barclays can offer you an overdraft?

Marchitiello

Overdraft can be useful when you have DD on an account for some rewards for examples, but want to hold balances in a different bank account for interest, that is why I have overdraft facilities with most of my current accounts. Also each banks will have their own Overdraft assessment criteria  and personally I have found Nationwide and Santander for example to be overly strict  whilst I have overdraft limits in the high 4 digits with most of my other banks. I have tried applying again for a 500 buffer recently on my Santander Select I have held for few years and was told that it is not available to me …

[Deleted User]

I totally understand that if you have financial troubles or struggle to pay your bills etc each month, overdrafts can be a terrible thing. But for people that easily cover it, they can be useful to have. 

Barclays are just very strict and it appears this is their policy:

https://www.theguardian.com/money/2022/aug/15/barclays-pulls-financial-safety-net-as-cost-of-living-crisis-bites

Well that's the end of the story, thanks everyone for your advice. 

wmb194

Sure, I have overdraft facilities as well, but all of this crying over what turned out to be just £500 is, well... Every portfolio has an element of cash, I'd just hold some.

[Deleted User]

wmb194 said:

Sure, I have overdraft facilities as well, but all of this crying over what turned out to be just £500 is, well... Every portfolio has an element of cash, I'd just hold some.

You are somewhat bitter it seems. Nobody is crying, I just bugged off to another bank. Game over.

wmb194

[Deleted User] said:

wmb194 said:

Sure, I have overdraft facilities as well, but all of this crying over what turned out to be just £500 is, well... Every portfolio has an element of cash, I'd just hold some.

You are somewhat bitter it seems. Nobody is crying, I just bugged off to another bank. Game over.

Why would I bitter? A six page thread says different but I'm glad it ended well and you're happy now. I prefer Lloyds to Barclays myself.

[Deleted User]

wmb194 said:

[Deleted User] said:

wmb194 said:

Sure, I have overdraft facilities as well, but all of this crying over what turned out to be just £500 is, well... Every portfolio has an element of cash, I'd just hold some.

You are somewhat bitter it seems. Nobody is crying, I just bugged off to another bank. Game over.

Why would I bitter? A six page thread says different but I'm glad it ended well and you're happy now. I prefer Lloyds to Barclays myself.

I don't know, you tell me. It's just a strange path to take to accuse me of "crying". Most of the pages are people asking the same question again and again or trying to explain why overdrafts are not needed. MSE can be a very cumbersome creature at times.

pridehappy

I’m aware this isn’t specific to Barclay’s, although I find times waiting for overdrafts to approve vary. For example, applying for a Nationwide overdraft as a new customer was easily done online and when I was opening the account, whole account including overdraft was ready around 5 days later with very little effort and no documentation required.

Virgin Money did set the account up quickly although had to call to request a joint overdraft and required documentation to prove income, then wait a few weeks for it to go through.