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Can I max out my Santander Student Account Overdraft before uni?

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    • Thread Starter

    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.


    You shoukd doubke check u have the full amount as an over draft because ive never known that u should only have access to 500 untill you re apply next yeah for a higher threshold
    • Thread Starter

    Maybe other banks but Santander give up to £1500 for the full 3 years depending on credit status. So I'm guessing my credit is good since I haven't even started uni yet and they've given me the full amount.

    I've moved my overdraft to my savings now anyway and if Santander do say something about it I'll just move the money back
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