What happens to a student account/overdraft after you finish uni?
Discussion about all the financial aspects of life - from bank accounts, overdrafts and budgeting to tax, savings and investments. For discussion about student loans, grants, and bursaries please use the Student Financial Support subforum.
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What happens to a student account/overdraft after you finish uni?Hi
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?
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Re: What happens to a student account/overdraft after you finish uni?They will periodically lower your overdraft limit, expecting you to slowly bring the balance down. You should contact your bank for the exact terms as they will differ.
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Re: What happens to a student account/overdraft after you finish uni?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!
