How old do you have to be to get an overdraft?

Question

How old do you have to be to get an overdraft?

Answer 1

18.

Answer 2

As with all other financial obligations - 18.

Answer 3

I believe it`s 18......

Answer 4

as it's credit you have to be 18.

Answer 5

In the UK you need to be 18 years old to get credit...

Answer 6

i think you need a current account ? not sure about the age though

Answer 7

18

Answer 8

Legal age for being responsible for debts is 18, so 18 it is.

Also proper current accounts (cheque book, cheque card, debit card etc)aren't generally available to those under 18.

When I was 16, I had a current account with a cheque book & cash machine card, but no cheque guarantee card. I believe that is still the case with UK banks.

If you had a guarantor for your debts, (parent?), there might be some scope for more.

Answer 9

A planned overdraft is 18.

However if your 18 or under, you can go overdraft as long as you pay the money back within about a month, otherwise the bank gets its legal stuff against you.

I can go overdraft on my student account by buying stuff off the internet that I can't afford :P but it all gets paid back eventually.