Arranged personal overdrafts

Can I apply for a debit card with an overdraft?

In the UK, you can’t directly apply for a debit card with an overdraft because overdrafts are typically associated with current accounts rather than debit cards. However, you can have an arranged overdraft facility linked to your current account, and this can be used alongside your debit card.

As an alternative, you can also take out a personal loan. Your possible expenses:

Personal loan calculations for 1 year (example)

What is an arranged overdraft?

An arranged overdraft in the UK is a financial arrangement that allows you to withdraw more money from your current account than you have available, up to a pre-approved limit.

Your bank or financial institution sets a maximum limit on how much you can overdraw your account. This limit is based on your creditworthiness, income, and financial history.

You are charged interest on the amount you overdraw, and rates can vary. Some banks offer fixed or variable rates, and the cost may be higher compared to other forms of credit.

Some banks charge a monthly fee for having an arranged overdraft, in addition to the interest on the amount overdrawn.

How instantly can I get an overdraft?

In the UK, obtaining an overdraft can be relatively quick, but the exact timing depends on several factors, including your bank, your financial situation, and the complexity of the application.

Typical Timeframes:

• Same Day to 24 Hours: if you are an existing customer with a good banking history, some banks can approve and set up an overdraft within the same day or within 24 hours, especially if you apply online.
• 1-3 Business Days: for new applications or if additional information is required, it can take 1-3 business days to process your overdraft request.
• Up to a Week: if your financial situation is more complex or if the bank needs additional documentation, it might take up to a week or more.

Can a student get an overdraft in the UK?

Yes, students in the UK can get an overdraft, but the availability and terms can vary depending on the bank and the student’s financial situation.

Many banks offer student current accounts that come with an arranged overdraft facility. These accounts are specifically designed for students and often come with more favorable terms compared to standard overdrafts.

To qualify for a student overdraft, you typically need to be a full-time student. Banks may require proof of enrollment at a recognized educational institution.

You usually need to be over 18 and a UK resident, though some banks may have specific criteria.

See the similar FAQ about UK banks: 

• Bank of Ireland lending criteria
• HSBC bank transfer time within the UK
• HSBC graduate loans
• HSBC in America
• HSBC loan early repayment: how to manage

Details of companies offering the financial services:

Barclays Bank

Head office’s address: 1 Churchill Place, London E14 5HP

Contact center: 0800-400-100

Phone: +44 (034) 5734 53 45

Web-site: http://www.barclays.co.uk/

Swift code: BARCGB33

Reference number: 122702

Stock code: BARC

ABN: 01026167

BSB: BARC

First Direct

Head office’s address: 40 Wakefield Road, Leeds LS98 1FD

Contact center: +44-345-610-0100

Web-site: https://www.firstdirect.com/

HSBC Bank

Head office’s address: Unit 8, Canada Square, Retail, London E14 5AH

Phone: +44 345 740 4404

Web-site: https://www.hsbc.co.uk/

Swift code: HBUKGB4B

Reference number: 114216

Stock code: HSBA

ABN: 00014259

BSB: HBUK

Lloyds Bank

Head office’s address: 25 Gresham Street, London EC2V 7HN

Contact center: 0345-300-0000

Web-site: https://www.lloydsbank.com/

Swift code: LBGTGB22

Reference number: 119278

Stock code: LLOY

ABN: 00002065

BSB: LBGT

NatWest Bank

Head office’s address: 250 Bishopsgate, London, EC2M 4AA

Contact center: 0800-88-11-77

Phone: +44 345 788 8444

Web-site: https://www.natwest.com/

Swift code: NWBKGB2

Reference number: 121878

Stock code: GBP1

ABN: 00929027

BSB: NWBK

Santander

Head office’s address: 2 Triton Square, Regent's Place, London, NW1 3AN

Contact center: 0800-389-7000

Web-site: http://www.santander.co.uk/

Swift code: ABBYGB3E

Reference number: 106054

ABN: 02294747

BSB: ABBY

Starling Bank

Head office’s address: 5th Floor, London Fruit And Wool Exchange, 1 Duval Square, London, E1 6PW.

Phone: +44 20 7930 4450

Web-site: https://www.starlingbank.com/

Swift code: SRLGGB3L

Reference number: 730166

Stock code: STERLNB

ABN: 09092149

BSB: SRLG

Sunny

Head office’s address: London

Web-site: https://sunny.co.uk/

TSB

Head office’s address: Henry Duncan House, 120 George Street, Edinburgh EH2 4LH

Phone: +44 (034) 5975 87 58

Web-site: http://www.tsb.co.uk

Swift code: TSBSGB2A

Reference number: 119278

Stock code: 94AQ

ABN: SC095237

BSB: TSBS