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How can I clear my student account overdraft?

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Written on: 09.11.2009 [10:18]
Topic creator
Posts: 6
Does anyone have experience of clearing a student account overdraft? I keep getting charged more and more for being in the red, and I don't have the money to make payments so it's only going to get worse!
Written on: 10.11.2009 [13:02]
Posts: 1
My advice would be to go and see someone at your bank as soon as possible! If you've got a student account it should offer a free overdraft: if it doesn't, tell them that you will take your custom elsewhere if they don't reduce the fees / make it free. Halifax and Lloyds offer free overdrafts, for example. You need to make sure that any automatic payments, like direct debits, aren't making matters worse by being withdrawn from your overdrawn account... If you talk to a bank representative and explain the situation, they may be willing to help. You'd be surprised to learn how flexible they can be: certainly they'll almost always choose a compromise over a lost customer and bad publicity...
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