I have a student account with one of the banks. I'm around 1300 in overdraft (limit is 2000). After I finish uni and am no longer a student what does the bank then do to the student account and the overdraft. Will they convert my account to a normal current account and if i am in overdraft what will happen, will they ask for it back immediately or will they charge interest on the amoun that I am in overdraft and if so will that be alot?
I've heard of one bank automatically converting you to a graduate account, which has a bigger overdraft limit (slightly) therefore, they're noticing you might not have a steady income. No bank should expect you to pay your overdraft off as soon as you finish your course...it's not how the world works!