Natwest Overdraft, will it get removed instantly?

[Kristoph]

Hey,

I took out an overdraft in my final year of uni to help me through the last few months whilst I wasn't working.
I used it kind of like a loan, and paid off my nationwide overdraft that I was paying interest on.
I've now left this account dormant until recently as they started to get a bit funny, as it had become an innactive account and threatened to make me repay the whole amount immediately if I didn't start making payments, direct debits, cash credits to the account.

I'm planning on just paying back £150-200 a month and reducing the overdraft limit from now on, hoping that keeps them quiet?

They can't make me repay all of it if I'm clearing the amount can they?

 

[Jono8]

If you start paying it off regularly, that will probably keep them quiet.

 

[Nitefly]

Hey,

I took out an overdraft in my final year of uni to help me through the last few months whilst I wasn't working.
I used it kind of like a loan, and paid off my nationwide overdraft that I was paying interest on.
I've now left this account dormant until recently as they started to get a bit funny, as it had become an innactive account and threatened to make me repay the whole amount immediately if I didn't start making payments, direct debits, cash credits to the account.

I'm planning on just paying back £150-200 a month from now on and hoping that keeps them quiet?

They can't make me repay all of it if I'm clearing the ammount can they?

What is your overdraft arrangement? For a student loan, they will usually allow an interest free overdraft for the amount you have agreed to for one year after full time education.

 

[Geckovich]

Is it a student account? If so then your overdraft should remain for 2 or 3 years after graduation so long as you use the account every now and again - this is what is currently happening for my natwest account.

 

[Kristoph]

What is your overdraft arrangement? For a student loan, they will usually allow an interest free overdraft for the amount you have agreed to for one year after full time education.

It was a £1600 third year overdraft, and from September recently, it became a graduate overdraft, so £1600 interest free until July 2010. However they aren't happy with the account not being used, even though I intend to pay it all back by the date.

Is it a student account? If so then your overdraft should remain for 2 or 3 years after graduation so long as you use the account every now and again.

Yeah, I asked if it would be ok to make a transfer now and then and apparently it's not ok, they need it to be my main account.

 

[Nitefly]

It was a £1600 third year overdraft, and from September recently, it became a graduate overdraft, so £1600 interest free until July 2010. However they aren't happy with the account not being used, even though I intend to pay it all back by the date.

I would just say that you intend to use the account and use it for several transactions.

 

[[FnG]magnolia]

Read your T&C's. The overdraft is completely at their discretion and they can request full payment whenever they choose.

I'd suggest letting them know what your intended plan of action is. Keeping quiet and hoping is not a great strategy when dealing with banks.