steudent overdrafts, :/

stephaniek6838

hi, just wondered when you actually got your student overdraft? im opening a student account with halifax on tuesday, i have my results etc so i am definatley going to uni.
so will i get the overdraft straight away or when i start uni?? ive heard some people have maxed out overdrafts before starting the course?!?
thanks steph

melancholly

depends on the bank - sometimes you can only get the account openned once you have registered as a student at the uni and can show them paperwork. an offer letter is enough for other banks. might be best to ask at the halifax on tues.

i'd also recommend that you don't max out your overdraft this summer!! spend it working and giving yourself a buffer of money before you start!

iNFLUENCE_2

Do you have the confirmation letter from your Uni? I assume by the fact you have your results, means that the Uni can already have accepted you and isnt dependant on results day in August. The halifax site says:

Before you begin you will need to have a confirmed place at university or college and:

• Your university or college details.

From this I take it to mean the confirmation letter the Universities send out.


But heed the words of advice above: DONT spend it all. Infact if at all possible dont spend any of it, or put it in a high interest account. Say you get the full overdraft, you could put £2000 in a high interest account at say 6.5% and after a year you would have £130 of interest for doing nothing (except not spending the money)

stephaniek6838

thankyou, i dont want to spend it all no way! allready in debt. its just hsbc are houndig me to pay my overdraft off, and keep charging me ridiculose amounts! so just wanted to pay it off (£300) iv been putting £30 a week in (for nearly 2months) but this just gets swallowed up with the fees.
thanks again steph

stephaniek6838

and yeah iv got the offer letter and my results what i needed

Masomnia

stephaniek6838 wrote: »

thankyou, i dont want to spend it all no way! allready in debt. its just hsbc are houndig me to pay my overdraft off, and keep charging me ridiculose amounts! so just wanted to pay it off (£300) iv been putting £30 a week in (for nearly 2months) but this just gets swallowed up with the fees.
thanks again steph

Oh definitely, if you can pay off an expensive overdraft with a 0% one go for it!

FreheitOverture

I don't understand what happened with mine. Natwest left my overdraft at £250 when it was supposed to be £1200 until I went in and proved that I was actually at the university

stephaniek6838

FreheitOverture wrote: »

I don't understand what happened with mine. Natwest left my overdraft at £250 when it was supposed to be £1200 until I went in and proved that I was actually at the university

so u had to wait until you started uni?

brettcta

well that makes sense, otherwise every tom !!!!!! & harry would be going in, opening up a student account, pilfering the £1250 and scarpering.