How are banks with issueing overdrafts

ilovesleep

I'm so skint for xmas. My wage just isn't going to pull me through with xmas gift shopping and xmas food shopping.

How are banks when it comes to issueing an overdraft?

I earn approximately 800 euro a month and would need an overdraft of about 200 - 300, maybe even 400. So it's not much at all and I would be confident I'd be able to pay it off with ease in Jan-Feb when there's no extra demands on my wage.

My credit rating may or may not be poor. I have no idea but I didn't pay a bill last year of 80 euro and didn't hear anything about it since.

I'm so fcuked.

galwayrush

You will only get one if you can prove beyond a shadow of a doubt that you don't need one.

Celly Smunt

my brother is in 5th year and ran up a 250 overdraft this year without an overdraft facility and a second level account,it was a either some kind of F**k up or the banks are fairly handy with issuing overdrafts.

ringadingding

You'll get alot of high n mighties on here now saying about not getting into debt for xmas.

once in a while is perfectly fine though.

You'll probably get a few hundred with a phone call, better yet, pop in to your branch and do it face to face.

Enjoy, skint christmas' are ****e

ilovesleep

galwayrush wrote: »

You will only get one if you can prove beyond a shadow of a doubt that you don't need one.

Crap well I can prove without a shadow of a doubt that I very much need one.

Cee-Jay-Cee

If your wages are paid directly into your bank account then you should have no bother. I've had a 1000 overdraft for around 10yrs but thankfully never had to use it.

Tiddlypeeps

As long as you don't have debt coming out of your ears that you regularly default on you will likely have no problem getting an overdraft of a few hundred quid. This kind of seasonal expenses are exactly why overdrafts exists.

Gummy Panda

Depends on bank tbh.

I've seen some throwing overdrafts at customers and others offering something tiny like 150 euro

Pottler

pmcmahon wrote: »

my brother is in 5th year and ran up a 250 overdraft this year without an overdraft facility and a second level account,it was a either some kind of F**k up or the banks are fairly handy with issuing overdrafts.

I'm not posting nothing. Couldn't end well.:D

Boombastic

ilovesleep wrote: »

I'm so skint for xmas. My wage just isn't going to pull me through with xmas gift shopping and xmas food shopping.

How are banks when it comes to issueing an overdraft?

I earn approximately 800 euro a month and would need an overdraft of about 200 - 300, maybe even 400. So it's not much at all and I would be confident I'd be able to pay it off with ease in Jan-Feb when there's no extra demands on my wage.

My credit rating may or may not be poor. I have no idea but I didn't pay a bill last year of 80 euro and didn't hear anything about it since.

I'm so fcuked.

Don't borrow to buy gifts...Is your name Ireland? :pac:

fasttalkerchat

Tell them that your pay will be late in January because you got extra before xmas. Because of this you may not have enough in your account at the time Direct Debits are lifted so want an overdraft to ensure you don't incur a penalty.

Anyway, you can probably apply online and get approved automatically.

ilovesleep

Thank you for all the lovely positive feedback. Yep I get paid (peanuts though) into the bank account, so hopefully that will stand to me.

Went to the bank anyways and forms or details has to be sent to dublin first, so whatever that will mean, I don't know. I'm guessing an office in Dublin has the final decision and I may or may not get it
I hope I do, fingers crossed or I'm fcuked. Simply fcuked.

Irishcrx

Hope you do get it mate , as said depends on the bank. I'm with PTSB and rang up to enquire on one a few months ago before I had a baby just to cover me incase. They wanted P60's , bank slips , payslips , a letter from my HR , colour of my underwear. This was for a €500 overdraft.

I've been with the bank 10 years , have my current account with them , my mortgage and a loan which I've never missed a payment on, I told them just forget about it.

yeppydeppy

Irishcrx wrote: »

Hope you do get it mate , as said depends on the bank. I'm with PTSB and rang up to enquire on one a few months ago before I had a baby just to cover me incase. They wanted P60's , bank slips , payslips , a letter from my HR , colour of my underwear. This was for a €500 overdraft.

I've been with the bank 10 years , have my current account with them , my mortgage and a loan which I've never missed a payment on, I told them just forget about it.

I had the exact same experience with them. Nor will they give out over drafts for less - what about what the customer wants? In January I'll be moving to Ulster bank, I've been told they are much more reasonable.

TheVoodoo

I can't blame them for asking for an arm and a leg. They are in essence giving you a loan, be it 1e or 1000e. With the amount of people who are unable to pay back small amounts, they need to be sure you are still earning etc.


The letter from HR is a way of proving you are still employed.

charlietheminxx

Irishcrx wrote: »

Hope you do get it mate , as said depends on the bank. I'm with PTSB and rang up to enquire on one a few months ago before I had a baby just to cover me incase. They wanted P60's , bank slips , payslips , a letter from my HR , colour of my underwear. This was for a €500 overdraft.

I've been with the bank 10 years , have my current account with them , my mortgage and a loan which I've never missed a payment on, I told them just forget about it.

I'm with AIB and all I had to do was tell them my annual salary and what I wanted the money for, on an OD of the same amount?

jester77

ilovesleep wrote: »

I'm so skint for xmas. My wage just isn't going to pull me through with xmas gift shopping and xmas food shopping.

How are banks when it comes to issueing an overdraft?

I earn approximately 800 euro a month and would need an overdraft of about 200 - 300, maybe even 400. So it's not much at all and I would be confident I'd be able to pay it off with ease in Jan-Feb when there's no extra demands on my wage.

My credit rating may or may not be poor. I have no idea but I didn't pay a bill last year of 80 euro and didn't hear anything about it since.

I'm so fcuked.

TBH, it's not a smart move borrowing money and putting yourself under stress in order to buy gifts. Everyone knows that money is tight at the moment. Why not do something a little more personal and imaginative instead of buying something. It will mean more to the people receiving gifts as you will have put time and thought into it. You really don't want to be starting the new year in debt.

ilovesleep

I don't care about starting the new year in debt. It will only be a small debt and I need it now more than ever. Michael buble has announced some concerts and I want to get a ticket.

So here's my dilemma.

I'm getting paid 200 quid tomorrow and I was due to spent approx 180 euro on xmas shopping on sat. But Bubles tickets is going on sale Friday morning. And I won't know until early next week about wheather or not I'll be grant that overdraft (I'm with AIB).

Do I chance my arm spending money I was due to spend on xmas gifts buying a buble ticket and hope for the best that this overdraft comes through for xmas shopping.

But then what if it doesn't come through?

dmc17

Well if the Mickey Bubbles tickets are that in demand that you need to buy them when they come out, I'm sure you'd be able to sell them if the sh1t hits the fan.

ilovesleep

dmc17 wrote: »

Well if the Mickey Bubbles tickets are that in demand that you need to buy them when they come out, I'm sure you'd be able to sell them if the sh1t hits the fan.

That's so funny. That's what I was thinking. The tickets can't all sell quickly, surely. Maybe I can pick up a ticket next week when I know for sure about that overdraft or maybe even in Janaury.

dmc17

Yeah, he's doing 5 nights in July so you'd surely pick them up between now and then unless they're really like gold dust in which case you may be as well off to buy them and you should be able to turn them into cash fairly quickly if needed

lil'bug

I got my overdraft extended today . We didn't get a christmas bonus this year so money is a little bit tight

Wompa1

Getting an overdraft to see Buble? Jeepers. Ireland hasn't really changed much since the downturn.

2 years ago I applied for a 600 euro overdraft and was in the high tax bracket...got rejected. At that point I only have one loan which I fully paid back and should have had excellent credit.

tunedout

Wompa1 wrote: »

2 years ago I applied for a 600 euro overdraft and was in the high tax bracket...got rejected. At that point I only have one loan which I fully paid back and should have had excellent credit.

You definitely made a mistake on your application form, or else your not telling us something.

Frank Black

Just tell them you want to buy an abondoned warehouse on the outskirts of Longford and develop it into shiny new apartments.

Wompa1

tunedout wrote: »

You definitely made a mistake on your application form, or else your not telling us something.

Filled it online and then went into the bank. No mistake. Rejected.

I wasn't given a clear answer as to why. I'm not sure if they take it into account but when I set up my account when I was 14 my dad was my guarantor since I was so young. His credit sucks. But not sure if that actually would matter

summerskin

ilovesleep wrote: »

I don't care about starting the new year in debt. It will only be a small debt and I need it now more than ever. Michael buble has announced some concerts and I want to get a ticket.

Lost all sympathy for you at this point. You shouldn't even be allowed near Monopoly money.

Tiddlypeeps

summerskin wrote: »

Lost all sympathy for you at this point. You shouldn't even be allowed near Monopoly money.

Yup. I actually had sympathy for the OP thinking they were struggling to get a few toys for their kids and a christmas dinner or whatever.

Retrovertigo

summerskin wrote: »

Lost all sympathy for you at this point. You shouldn't even be allowed near Monopoly money.

Was going to post this myself.

Boo hoo, op. My heart bleeds for you.

tunedout

Wompa1 wrote: »

Filled it online and then went into the bank. No mistake. Rejected.

I wasn't given a clear answer as to why. I'm not sure if they take it into account but when I set up my account when I was 14 my dad was my guarantor since I was so young. His credit sucks. But not sure if that actually would matter

It's very strange. Maybe some system error on their side.
I think many banks have a policy of not giving a reason why you were declined.

No way are banks rejecting 10-12% overdrafts of €600 to someone in the higher tax bracket with no credit issues, they are probably one of their most profitable products.

If you still need it I'd say apply again and you should definitely get it.

SeaFields

I'm with BOI. I went in and cancelled my OD two months ago. I hadn't used it in years.

The person on the counter asked me was I very sure I wanted to cancel it as, in her words, "you will probably not get it back again". I got rid of it as was my intention.

Strange I thought. So I asked are they giving loans as I may want a car loan next year. Yes, she said and her branch had been extremely busy this year giving out loans and my account, at a glance, filled the criteria to get one.

I know feck all bout banking. That visit just confused the fook outta me.

ilovesleep

Great! Well actually not! Checked the internet banking and it's looking unlikely that I'm going to get this overdraft. **** that! It was just for a small amount and it would have helped me with the christmas and in Janaury when there won't be as much demands, I could have it paid off.

Frank Black

An Overdraft for a Michael Buble concert.

I'm going to save this thread and then I can show it to my grandchildren when they ask me why the whole Celtic Tiger thing went tits-up.

ilovesleep

black francis wrote: »

An Overdraft for a Michael Buble concert.

I'm going to save this thread and then I can show it to my grandchildren when they ask me why the whole Celtic Tiger thing went tits-up.

No no no! It's an overdraft for christmas for a food shop and some gifts for others. I cut my shopping lists down to little and I don't have enough. And then buble announced his concerts and now I definately don't have enough. I wanted to make xmas a good one at home - my mother wants to buy turkey slices for xmas dinner to save money. And I'll buy a turkey if this overdraft comes in. You see I had a function earlier in the month and that dug into a weeks wage. Without that I would have be somewhat grand.

Hannibal Smith

hope your money issues don't ruin your Christmas op...there's a lot of pressure this time of year....but when it comes down to the day itself all is soon forgotten.

summerskin

ilovesleep wrote: »

No no no! It's an overdraft for christmas for a food shop and some gifts for others. I cut my shopping lists down to little and I don't have enough. And then buble announced his concerts and now I definately don't have enough. I wanted to make xmas a good one at home - my mother wants to buy turkey slices for xmas dinner to save money. And I'll buy a turkey if this overdraft comes in. You see I had a function earlier in the month and that dug into a weeks wage. Without that I would have be somewhat grand.

if it means that much to you, miss the fúcking Buble concert! that would cover the cost of a whole Christmas meal. You seem to have your priorities messed up.

ilovesleep

Hannibal Smith wrote: »

hope your money issues don't ruin your Christmas op...there's a lot of pressure this time of year....but when it comes down to the day itself all is soon forgotten.

Thank you for your kind words. I was very stressed and worried. Too much demands and too little money. But it came through today so I'm delighted. I love making xmas at home as if it's going to be the last. So will be looking forward to starting the xmas shopping and buying some gifts, and loads of goodies and some money to charity too.

Thoughts and prayers to everyone who's finding xmas difficult too.

ilovesleep

summerskin wrote: »

if it means that much to you, miss the fúcking Buble concert! that would cover the cost of a whole Christmas meal. You seem to have your priorities messed up.

Too late, I got a ticket when they went on sale last week.