Can you have multiple student/graduate accounts with the same bank? Please help! Watch

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Report Thread starter 5 years ago

So I had a Natwest student account for my undergraduate degree which became a graduate account once it ended. That was a few years ago and last September I started a masters. I came in with all of my documents to change it to a student account again and they said it was fine, then when my account went into my overdraft in January-April, I started receiving a monthly £6 OD charge and around £25 a month in interest charges. When I noticed these charges in April (I'm really bad at keeping track of finances), I called them up to say this is a mistake, I should have a student account, etc. They apologised, refunded the money, etc.

Now it's just happened again, and last night I found a £6 OD charge and £24 in interest. I called them and was on the phone for ages; the department I was with spent 45mins trying to reach the complaints department (I think, it may have been compliance?). He said he doesn't know why this is happening because even when a student account ends, it should change to an interest free graduate account, not select. Ultimately I was on the phone for over an hour, most of it on hold, so he said he will send that dept all of my information and that they'll give me a call back to sort out a refund and change my account for good so it doesn't happen again. He was confused about why this is happening. I'm now waiting for that call back.

So my question is this, it seems you can have a student account more than once, but can you also have a graduate account more than once? Essentially, can I go through the same cycle again when I do my masters?

My other question was that according to him, the student account stops being a student account in July of the year of graduation. But my course doesn't officially end till September, and obviously that's when I want my student account to switch. Is that possible? I imagine the July rule is designed with undergrads in mind.

Lastly, although my course finishes officially on 19th Sept and unofficially 7th August unless I have to sit resits, our graduation is not till January I think. He said if I can bring in proof that I don't graduate till January, they can change the account so it's a student one until then. However, I think it's just that that's when the graduation ceremony is, and I'm not sure that that's the same thing as graduating, which to me just means you have finished the course, have your results and can use whatever letters after your name, or is the date of graduation literally the date you graduate?

All of this is with NatWest. Any advice and information would be useful because it can either speed it up by explaining to them why it's happening (previous graduate account) or I know what to argue.

Also, since when my course started I took in all of my papers, student ID, admissions letter etc (i.e. I did 'The right thing') and since then I've had to deal with it when I discovered it months ago the night before an exam, in the middle of the night and spent the whole night worrying until I could call them instead of revising/sleeping - though this time it was resolved within about 30mins - and this time, again, spent all night worrying instead of working on my dissertation, spent over an hour on the phone today, called back in the evening, now waiting around for them to call, worrying, in the critical part of my dissertation... If it was the other way round, I would just be fined and that's it, no sympathy, no excuses. But they take my money and I just have to go through this process of worrying, calling, waiting... Can I ask them to reimburse me for the time and phone call charges for dealing with this for the second time after I set everything up the way I should have in September?

Three Mile Sprint
Badges: 14
Report 5 years ago
I don't know exactly how to help you but the same thing happened to my wife's account, when she graduated instead of changing to a graduate account they just started taking interest.

We just kept on going back in and complaining and it was sorted out in branch a few weeks ago.

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