Obtaining low value Student Overdraft: Timeframe

PictureFrame

Hi i'm a 2nd year student in NUIM and am wondering how difficult would it be to set up / be granted an overdraft for 150 euro? Also i'm not sure if there is a set time, but how long after the application was put forward would the overdraft be granted to you? 

Bank of Ireland: Billy

Hi PictureFrame, 

Thanks for posting. 

To request an Overdraft Facility, you would need to contact a Student Advisor in your local branch. 

A full list of branch contact number can be found here

Generally when an overdraft is approved and applied to an account, the funds would be available on the next working day. 

I hope this helps. 

Billy

PictureFrame

Bank of Ireland: Billy wrote: »

Hi PictureFrame, 

Thanks for posting. 

To request an Overdraft Facility, you would need to contact a Student Advisor in your local branch. 

A full list of branch contact number can be found here

Generally when an overdraft is approved and applied to an account, the funds would be available on the next working day. 

I hope this helps. 

Billy

Thanks Billy! Off hand is there any major criteria I need to meet before being considered for an overdraft?

Bank of Ireland: Billy

Hi PictureFrame, 

As long as your account is a student account, you wouldn't need to bring in any documents such as student Id or a letter from the college. I would advise making a quick call before dropping in to the branch. The Student Advisor may be able to give you a decision over the phone. 

Thanks

Billy 

PictureFrame

Thank you! How long do you have to pay off the overdraft?

Bank of Ireland: Tara

Hi PictureFrame,

An overdraft doesn't operate like a loan. It's an ongoing permission set up on your account that allows you to go into a minus balance by an agreed amount. This is cleared with any credits applied to the account but you have the facility to go back into a minus balance. There are specific terms and conditions with having an overdraft and the Student/Customer Advisor in your branch will go through this in detail when you apply.

We have more information on overdrafts here where you can also access the overdraft terms and conditions.

Thanks
Tara

 

PictureFrame

Bank of Ireland: Tara wrote: »

Hi PictureFrame,

An overdraft doesn't operate like a loan. It's an ongoing permission set up on your account that allows you to go into a minus balance by an agreed amount. This is cleared with any credits applied to the account but you have the facility to go back into a minus balance. There are specific terms and conditions with having an overdraft and the Student/Customer Advisor in your branch will go through this in detail when you apply.

We have more information on overdrafts here where you can also access the overdraft terms and conditions.

Thanks
Tara

 

thank you tara! would it be best to call the branch or visit it to organise the overdraft?

Bank of Ireland: Tara

Hi,

You would be best to call first and if they need you to call into the branch in person, they can arrange an appointment that suits. 

Thanks
Tara