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Taking out a second student overdraft

Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
in Home, Law & Money
Anyone know which banks are most lenient/don't check up on existing accounts when it comes to taking out a second overdraft? And is it even possible to get an overdraft set up mid-way through the term?

I'm with HBOS at the moment, maxed out at £2,750, and have heard that Barclays and the RBS are the best options...although RBS' online application demands a shitload of info about previous account details which probably rules them out...

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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    in my 2nd year i went to HSBC and asked to open a student account. They wanted details of exisiting accounts so i just gave them information on another current account i had, rather than my student one.
    i maxed out the overdraft straight away (to pay for deposit and summer rent) and then a good while later they started phoning me to ask why my loan wasn't going into the account. i told them i had another student account and that i never mentioned it before because i hadnt been asked. they accepted that and said as long as i put X amount in every term they would be happy.


    i have a feeling most banks will want info on existing accounts. you could either lie and say you don't have one or open up one although the latter is hassle in itself.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    If you open accounts, just switch the money between them.

    Account 1: put student loan into
    Account 2: transfer £x every month into account 2 from 1
    Account 3: """"""""""""""""""""""""""""""""""""" account 3 from 2

    And so on. :thumb:

    Also, fouy get a high interest savings account that says in order to keep it active you need to put in a grand a month, put a grand in and take it out again, do the same next month.

    Also, as an aside, I opened a halifax bank account as my student bank and they suck compared to barclays. But lots of people have bad experiences with barclays :confused:.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    i have a student account with RBS and i've never had anything paid into it i.e. wages or student loan. i got it purely for the overdraft. they were sending me letters a while ago saying how i hadn't used it so i just paid some money into it and took it out again. :thumb:
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    NatWest, myself and five others opened a seconds student account up with NatWest, they never checked!

    Give them a try

    :thumb:
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I was originally going to do a four year course at university but I ended up switching down to a three year course. When I tried to tell HSBC about this it took me three attempts to get to speak to a real person in a branch who demanded to see my degree certificate (which I didn't have about my person at the time) and said that without the certificate I would have to stay with the student account and that the overdraft facility would be increased as if I were a 4th year student rather than reduced as a graduate account.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Calvin wrote:
    NatWest, myself and five others opened a seconds student account up with NatWest, they never checked!

    Give them a try

    :thumb:


    wouldn't it look a bit suss though if i went in and was like hi i'm a 3rd year i wanna open up a student account..?
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I've just opened up another student overdraft with Natwest this time and they never checked or asked if i had another student overdraf with another bank.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    did you not have to provide proof that you were a student though? what did you say when you went in?
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    How much do Natwest & RBS want put in the account to open it do any of you know? I presume they'll want something before agreeing to an overdraft...
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    My NatWest Student account has never had any money in I don't think....
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    ha i applied for a student account with natwest on the internet. i just have to wait for a letter to arrange a meeting. dammit!!
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