How long does it take to get a student overdraft?

dillo2k10

Hi,

Im with UlsterBank and I need to get an overdraft as soon as possible. When I was opening the account I was told that I could be given one of €2500 (Accounting Student) but I decided not to take it at the time.

But now I need it, I'm having problems with my car and need to get it fixed (About €700)

So once I apply for it how long should it take before I can withdraw it?
If it makes a difference Im with them since I started Secondary School.

chris85

dillo2k10 wrote: »

Hi,

Im with UlsterBank and I need to get an overdraft as soon as possible. When I was opening the account I was told that I could be given one of €2500 (Accounting Student) but I decided not to take it at the time.

But now I need it, I'm having problems with my car and need to get it fixed (About €700)

So once I apply for it how long should it take before I can withdraw it?
If it makes a difference Im with them since I started Secondary School.

You will have to apply and see if you would be given the overdraft. Lending criteria change so no guarantee you will get it. If approved should take a few days.

Are you employed now or still studying? Will obviously make a difference.

Frynge

In my experience with ulster bank and student overdraft it is more dependant on how the account is used.

I applied for a €1000 overdraft and got it the next morning
But when I tried to up the amount they wouldn't approve it as I was getting paid into an aib account and so stopped using ulsterbank

dillo2k10

chris85 wrote: »

You will have to apply and see if you would be given the overdraft. Lending criteria change so no guarantee you will get it. If approved should take a few days.

Are you employed now or still studying? Will obviously make a difference.

Im guranteed €750 from them and Im still studying but employed part time, only about €110 per week - paid into ulster bank. My grant also goes into the account

Frynge wrote: »

In my experience with ulster bank and student overdraft it is more dependant on how the account is used.

I applied for a €1000 overdraft and got it the next morning
But when I tried to up the amount they wouldn't approve it as I was getting paid into an aib account and so stopped using ulsterbank

I use my account on a daily basis - use my card to buy most things or to withdraw money from an ATM.

Frynge

Should be fairly quick to be approved. If I remember correctly the amount was some what based on your year in college as in the €2500 was only given when you are in fourth year

dillo2k10

Frynge wrote: »

Should be fairly quick to be approved. If I remember correctly the amount was some what based on your year in college as in the €2500 was only given when you are in fourth year

According to their website they will give any student 750 and if you have a grant then up to 1500 or if you are studying one of the selected subjects then you would get up to 2500. I dont need (or want) that much from them anyway.

unclebill98

Over draft is €650 standard and it'd tiered depending on what year you are in.

Depending on amount sought and if no guarantor is needed it should be done and dusted in 24hrs.

Contact your local branch, make an appointment and ask them what you need to bring in.