Hi I'm in year 13 and I got an unconditional uni offer so was able to open my Santander student account quite early and after depositing £800 of my own money, they've given me the full overdraft of £1500 (that I don't really need). So my available balance is £2300. I only opened a Santander student account to reap the benefits of the student railcard and their 123 world offers etc, otherwise I wouldn't have opened it. I decided to have my student finance go into that account so it looks like I actually use it lol although obviously that will first go in around late September time.
I have other bank accounts and a tax-free high interest ISA savings account that I already have savings in. Thing is, I was thinking of transferring the £2300 back to my ISA (my £800 plus the £1500 overdraft).. Just to help increase my yearly interest since every penny counts.
Is this be a bad idea? considering I'll only have my student finance going into that account and it's still 3 months until uni starts, I'm scared to transfer it to my ISA lol. Transferring all my money would leave the account at £0 available balance and -£1500 current balance. I'm just scared it will flag up as dodgy and they decide to close my account or charge fees idk.
Can I max out my Santander Student Account Overdraft before uni?
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