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Student overdrafts.

Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
in Student Life & Education
Can the bank refuse an increase of a student overdraft or tell me off for the use of the overdraft?

Thanks in advance :)

Comments

  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    The bank do not have to allow you to use the overdraft and can revoke the overdraft at any time. They don't have to allow extensions to your limit, just as with any other lending facility. They also don't have to give a reason.

    You should never budget assuming that lending will be available to you.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I thought as much, thank you!
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