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Applied for student overdraft- likelihood of it being approved?

  • 18-06-2009 2:07pm
    #1
    SexyD4Lady
    Registered Users, Registered Users 2 Posts: 1,019 ✭✭✭


    Just finished first year in university. Set up an account in AIB today, having handed in six month statement showing regular part time income from my existing bank, PTSB. Requested overdraft of EUR600 and earn approximately that amount per month. What do you guys reckon my chances of approval are? Need the money asap to pay for exam re-sits. Clerk said that someone would be in touch early next week re the loan. Too impatient to wait... any opinions? Have never sought financial support from a bank or building society before. Any advice or personal experiences welcome! Thanks in advance :)


Comments

  • #2
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    Dare I ask why PTSB were not able to give this facility to you?

    If anything you'd have a better chance with the bank you're with at the mo TBH. That being said when I got my first AIB O/D (600 eur BTW as well) I got my ma to sign as a guarentor. However I had my a/c 2 yrs by then.


  • #3
    SexyD4Lady
    Registered Users, Registered Users 2 Posts: 1,019 ✭✭✭SexyD4Lady


    The customer service clerk in PTSB informed me that they don't issue overdrafts to customers unless they earn a minimum of EUR30,000 per annum, nor will they now issue a LASER card to someone who earns less than that amount either :eek: New T&C as of April 17th last, so I was told.


  • #4
    oldyouth
    Closed Accounts Posts: 4,754 ✭✭✭oldyouth


    SexyD4Lady wrote: »
    The customer service clerk in PTSB informed me that they don't issue overdrafts to customers unless they earn a minimum of EUR30,000 per annum, nor will they now issue a LASER card to someone who earns less than that amount either :eek: New T&C as of April 17th last, so I was told.
    Hi SexyD4Lady,
    I don't know about the overdraft situation but my son got a Laser card from PTSB last week. He has finished 3rd year at college and is on a work placement for 4 months. He is getting paid €400 per week (annualised 20k per annum). They knew the story about it being short term work and he had no problem


  • #5
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    PTSB still don't have their Laser card system up "online" like AIB / BOI. The problem that arises in the OP's case stems from this. If I were you I would forget about PTSB. They are not a student bank per se. Close your account and move to AIB would be my advice.

    I had a very similer problem when I tried to open another account in another bank. I wanted a Laser Card but none would give. So I ended up having to open an account with my own bank in the end.


  • #6
    oldyouth
    Closed Accounts Posts: 4,754 ✭✭✭oldyouth


    Mmmm! you're making me think what my son might have told PTSB in order to get the card. The reason he is with PTSB is because I am with them also. Given that he is a student, it is handy for me to make online transfers to his account for rent, fees etc. Perhaps they saw those lodgements and took it in to account, along with his summer wages


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